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.

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

Female Doctor Assists Young Asthmatic Girl

Executive Order Creates Health Commission

The initial target of the executive order will focus on addressing childhood chronic diseases, including mental healthcare.

Health, Compliance, Multiemployer Plans, Public Sector, Healthcare Industry, Higher Education, Architecture Engineering & Construction, Corporate

Read Full Insight

Businesswoman Discussing Technology Trends At A Meeting

AI Uncovered: What Your Organization Needs to Know and Do Now

Watch our webinar on AI and generative AI where we’ll discuss real use cases, practical approaches to governance and ethical AI implementation.

Technology, Organizational Effectiveness, Communications, Multiemployer Plans, Public Sector, Healthcare Industry, Higher Education, Architecture Engineering & Construction, Benefits Technology, Corporate, Consulting Innovation

Watch the Webinar

Pharmacist Helping Customer With Prescription Medicine

CMS Proposes Simplified Creditable Coverage Determination

CMS's proposed update to the Rx coverage determination method may require health plans to take a fresh look at their prescription drug benefits.

Health, Compliance, Multiemployer Plans, Public Sector, Healthcare Industry, Higher Education, Architecture Engineering & Construction, Corporate

Read Full Insight

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.