Global Vision, Local Wisdom
Global Vision, Local Wisdom
Good governance is central to the effective management of employee benefit plans. It defines the roles and powers of those responsible for plan management activities – from identifying and managing the risks affecting the plan, through compliance with local laws and regulations, to plan administration with the assistance of professional advisors. An effective governing board should lead to effective governance and an ongoing cycle of continuous improvement.
We are well placed to advise on all aspects of governance. We can add value by helping you to manage your plans proactively. Our flexible range of governance services can be tailored to fit your needs.
Employee benefit plans are subject to a range of risks, some of which can be mitigated while others need to be recognised and managed. We can help to establish and maintain risk registers to assist with all aspects of risk management. Once risks have been identified and measured, we can advise on risk mitigation.
We provide periodic bulletins on topical issues, as well as client specific advice to make sure your plans are in compliance with local laws and regulations. We can review all aspects of a plan’s operations and advise on any improvements needed to meet emerging best practice.
Our consultants can support the trustee boards of plans and contribute to their effective governance as part of the management team. As needed, we can prepare and review the terms of reference of board committees to ensure that appropriate and effective governance structures are in place. We can also prepare business plans and budgets, and help to implement effective decision making.
Proactive plan secretarial services are a key element in good governance. We believe that secretarial services go well beyond keeping minutes of meetings. The plan secretary can be the central team member to ensure that the plan is managed effectively on behalf of the members and the employer.
Engaging the right advisors is key to an effective employee benefits management operation. We are able to provide a full range of timely and proactive advice on all aspects of employee benefits plan provision. We can also assist in selecting other professional advisors or administrators and in monitoring their services.
