Risk management – are you getting value or just ticking the boxes?
The Pensions Regulator (TPR) makes it very clear that the understanding and management of risks is a key feature of a successful funding strategy. Integrated risk management (IRM) can, however, be a difficult topic to engage with and IRM plans are often put in place as a tick in the regulatory box rather than looking to capture the true value of risk management. At XPS we believe that successful IRM starts from asking the question of what is the ultimate objective for your scheme and how can you give yourself the best possible chance of achieving it without taking unacceptable risk. With all the current political and economic uncertainty, it is more important than ever to engage with risk management.