Risk Management

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The Fund’s governance arrangements ensure that the management of fund administrative, management and investment risk is undertaken at the highest levels.
 
The Fund recognises that risk is inherent in many of its activities and makes extensive use of external advisers and industry best practice in assessing and establishing policies to identify and mitigate those risks.
 
The principal documents relating to risk management and control are the Fund’s:
 
 
In addition, the Fund maintains a risk register and a compliance manual for its employees.

These documents are all subject to regular scrutiny by Pensions Committee and officers, and provide details of the key risks and explanations of the policies and controls adopted to mitigate them. These arrangements are assessed at least annually by the Fund’s external and internal auditors.

Additionally, and where applicable, the Fund adheres to the administering authority’s constitution in managing its operations. Legal opinion and advice is provided by Wirral’s legal team and from external sources where appropriate.