Ομιλία - Παρουσίαση: “EU IORP investment governance, lessons learned and future developments” Tim Currell, Partner, Head of Investment at AON International Wealth

1. Prepared for:
Prepared by:
Date: 20 February 2023
Occupational Retirement Provision Forum
Tim Currell
Lessons learned &
future developments
EU IORP Investment
Governance

2. Overview
Investment
Governance
Security
Strategy
Structure
Documents
Monitoring
Disclosure
 Key requirements
‒ “Safe haven”
‒ Proportionate
‒ Transparent structure
‒ Clear roles
‒ Risk management
‒ Internal controls
‒ Avoid conflicts
‒ Fit & Proper persons
‒ Clearly documented
2

3. Lessons learned #1
• Supervisory body
• Investment Committee?
• External advisors
Structure
“Equitable spread of risks
and benefits between
generations”
Strategy
• Custodian / Depository
• Asset manager(s)
Security
3

4. Lessons learned #2
• Members
• Sponsor(s)
• Regulator(s)
Disclosure
• Performance
• Risk metrics
Monitoring
• SIP, ORA
• Mandates, COI, BCP
Documents
4

5. Future developments
Focus on risk management
• NACE codes
• Climate stress
tests
ESG & Climate
Look-through of
UCITS funds
Transparency
Disclose derivative
information
Hedging
5

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2023