Actuaries in government – Page 12 – News and updates from the Government Actuary's Department

Quality assurance: from administration control to governance priority

Drawing of a man in a suit looking at multiple arrows going off in different directions. Credit: Shutterstock

Quality assurance: from administration control to governance priority

Pension schemes face growing demands from regulation, digital change and automation. This blog outlines practical steps to build risk-based, member-focused quality assurance that cuts errors, meets expectations and gets benefits right first time.

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‘Bow tie’ risk management and its benefits

Andy Jinks - Chief Actuary, 28 October 2019 - Actuary, Investment

Integrated risk management requires pension schemes to look at risks in the round, rather than considering each individually. This is because the risks are related – for example, funding risk is likely to be linked to either investment risk or employer covenant risk.