Agenda item

Attached to this report is the work plan for the Committee (Appendix 1) and a separate one for the Investment Panel (Appendix 2) which set out provisional agendas for forthcoming meetings. The dates for future Committee and Panel meetings are also included.

The Governance & Risk Advisor introduced the report to the Committee and drew their attention to the following sections.

Hymans LGPS Online Learning Academy (LOLA)

In order to meet the additional knowledge and skills requirements of SAB’s Good Governance Review the Fund has introduced Hymans LGPS Online Learning Academy (LOLA). Committee members have agreed to complete all training modules within twelve months of becoming a Committee member and repeat the completion of the modules every three years.

Modern Gov Library

The decision has been made to suspend use of the Modern Gov library until its effectiveness can be reviewed. In the meantime all monitoring reports will form part of the main committee reports.

Quarterly Review of Risk Register

Following the quarterly review of the risk register there were no changes made.

The most critical risks are currently:

·  NR01 – ‘Ability to deliver admin service to members and employers within agreed standards’ The current factors impacting this risk are set out in item 10 – Pension Fund Administration report.

·  NR12 – ‘Failure to achieve decarbonisation targets in the required timescales in accordance with climate change priorities’ Government climate policies not moving fast enough or sufficiently enforced.

·  NR05 – Failure to manage personal data in line with data protection regulations. Following an increase in the number of data breaches caused by enveloping errors and on the advice of Information Governance and Internal Audit the decision has been taken to stop all bulk printing and enveloping while the process is reviewed. Consultation with Information Governance & Internal Audit is also taking place to improve the process for providing members with activation keys for My Pension Online, following two data breaches.

The Committee RESOLVED to note the Committee & Investment Panel workplans, training programme, service plan & risk register.

The next meeting of the Committee will take place on Friday 22nd September 2023 at 10.00am.