Are You Managing Your Investment Fiduciary Risk? Ten Things You Need to Know
This blog's author is off to San Francisco to keynote the 2nd day of the 2008 Pension Bridge conference. I'll be speaking about investment fiduciary risk and ten things one needs to know. The session description is shown below.
<< Fast changing rules and regulations, increased investment complexity, market volatility and changing demographics create new challenges for retirement plan decision-makers. Fiduciary accountability has taken on a new urgency as headlines about big losses motivate shareholders and taxpayers alike to demand reform. Integral to the process is the proper identification, measurement, and management of risk, including the selection and monitoring of consultants, money managers, actuaries and other key players. Join Dr. Susan M. Mangiero, CFA, FRM, AVA, for an update about performance pitfalls, sources of hidden risk, risk control gaps, pension litigation trends and valuation difficulties that directly impact defined benefit and 401(k) plan investment strategies. Learn ten things you can use to mitigate personal and professional liability. >>
Of course no one can summarize everything a fiduciary must know in ten steps or provide an exact recipe for staying out of trouble. (As I always remind, legal advice and interpretation is best left to attorneys and regulators.) The goal is to provoke thought about the investment process and related risk-taking. Interestingly, a recurring theme of the international regulatory pension conference (where I spoke on April 2, 2008) was a global emphasis on outcomes and not process. Imagine how different life would be in the U.S. if realizations trump decision-making.
Click to access the full agenda for Pension Bridge.
