Issue - meetings

10:40

The report (PF8) presents the latest position on the Fund’s Risk Register updating the position on risks reported to the last meeting and adding in new risks identified in the intervening period (PF8).

The Committee is RECOMMENDED to:

(a)   note the current risk register;

(b)consider the risk scores for risks 4, 8 and 10 as requested by the Pension Board; and

(c)  note the proposed full day’s training programme to be held for all members of the Pension Committee and Pension Board.

(a)  noted;

(b)   in respect of risk 4 – the Committee believed the score to be at the right level, given the likelihood that risks would fluctuate to a higher or lower level over a longer period of time; agree that likelihood score for risk 8 be raised from 3 to 4; and with respect to risk score 10, to reduce the likelihood score from 3 to 2. Committee also requested the officers to bring a detailed report to the next meeting on a number of ICT risks identified at the meeting; and

(c)  noted and to request the officers to provide online training in individual issues, where appropriate also.

Members of the Committee had before them a report which presented the latest position on the Fund’s Risk Register (PF8). The report updated the position on risks reported to the last meeting on 23 June 2017 with the addition of new risks that had been identified in the intervening period.

Members also considered the recommendation from the Local Pension Board requesting the Committee to consider the risk scores for risks 4, 8 and 10.

At the request of the Committee, Mr Collins undertook to carry out a check to ascertain the likelihood of a security breach of data and whether the Fund was insured against cyber - attack.

RESOLVED:

(a)  to note the current risk register;

(b)  in respect of risk 4 – the Committee believed the score to be at the right level, given the likelihood that risks would fluctuate to a higher or lower level over a longer period of time; agree that likelihood score for risk 8 be raised from 3 to 4; and with respect to risk score 10, to reduce the likelihood score from 3 to 2. Committee also requested the officers to bring a detailed report to the next meeting on a number of ICT risks identified at the meeting; and

(c)  to note the proposed full day’s training programme to be held on a date to be determined, for all members of the Pension Fund Committee and the Local Pension Board; and in addition to request the officers to provide online training in individual issues, where appropriate.

All members of the Committee were strongly urged to attend the training day.