ATMS® Part III Pensions

Course Outline

Introduction and Effective Governance in Funding and Investment Policies

Funding Policy and Asset Management—An Integrated Process

• Key components of each
• Pros/cons of different approaches

The Importance of Governance

• Fiduciary responsibilities
• Role of governance in meeting fiduciary responsibilities
• Examining models of governance
  • Ambachstsheer-Ezra Governance Model
  • CAPSA governance guidelines

Building and Managing a Sustainable Funding Policy

• Landscape and future direction of funding policies
• Key principles of effective pension plan governance related to funding management

How and Why to Construct a Written Statement of Funding Policy

• Plan design
• Plan governance
• Funding objectives
• Regulatory and actuarial standards
• Financial assessment
• Risk management
• Monitor/review funding policy

Strengthening Your Role in Investments Oversight

• Key principles of effective pension plan governance related to asset management
  • Review of key CAPSA principles
• How and why to construct a statement of investment beliefs (SIB)
  • Relationship to statement of investment policies and procedures (SIPP)
  • Elements of the SIB
• Methods and principles of setting asset mix policy
  • Examination of different types of risk
  • Issues associated with alternative investments
  • Currency hedging
• Building an investment manager structure to implement the selected asset mix
• Monitoring the plan’s investments and investment managers