Archived Insight | October 8, 2018

Operational Risk May Be a Challenge for Your Retirement Plan

In today’s environment, market risk tends to receive the most attention from the media and from stakeholders, but managing operational risk has become more important as plans have grown in size and complexity.

Professional Real People Having Informal Business Meeting

Why operational risk is such a threat

Many experts believe operational risk, rather than market risk, is the leading threat to a plan’s reputation due to the breadth and complexity of the individual risks in this category.

For defined contribution plans, operational risk encompasses potential losses attributable to failures in Internal Revenue Code (IRC) compliance, participant financial reporting, transaction processing, data security, technology, business continuity and vendor management

Have questions? We have answers.

Start a conversation today about how we can help.

Getting a handle on operational risk

Effectively managing operational risk may lead to improved service quality, reduced costs, improved participant decision making and strengthened compliance. A first step is adopting a framework that includes:

Governance structure
Audits and assessments
Management of cybersecurity risks
Peer reviews and benchmarking
Comprehensive investment policy
Key performance and risk measures

Our team can help you reap these benefits by coming up with a plan that will reduce your operational risk.

See more insights

Businesspeople Brainstorming Ideas And Writing Notes On A Glass Wall In A Modern Office

Changing Pension Administration? Create a Realistic Schedule

Introducing a new pension administration solution (PAS) might take longer than you think. Get 5 tips for creating a realistic schedule.

ATC, Benefits Technology, Technology, Retirement, Benefits Administration, Public Sector

Read Full Insight

Group Of Colleagues Having A Discussion In A Modern Office

5 Tips for Improving Your TPA’s Performance

Learn how to get the most out of your third-party administrator (TPA) and enhance your benefit program's efficiency.

Retirement, Multiemployer Plans, Public Sector, Healthcare Industry, Higher Education, Architecture Engineering & Construction, Benefits Administration, Corporate, Benefits Technology, ATC, Technology

Read Full Insight

Teacher In Classroom Points To Student Raising Hand

How Do State Employee Health Benefits Compare?

See how your state employee health benefits compare to your peers. Our May 1 webinar features insights on health plans in all 50 states.

Health, Public Sector

Watch the Webinar

This page is for informational purposes only and does not constitute legal, tax or investment advice. You are encouraged to discuss the issues raised here with your legal, tax and other advisors before determining how the issues apply to your specific situations.