As a public sector DC plan sponsor, what keeps you up at night? If you are like many sponsors, operational risk, a broad and complex category of potential exposures, will be that demon – because, without adequate oversight and a well-thought-out set of preparations to implement, you might face a significant loss of reputation or worse due to the actions of others including your vendors. Failures of record keepers and investment managers, data security practices, transaction processing and other technology, and financial reporting could put your plan – and you as the fiduciary – in the crosshairs.
For retirement plans, investment risk and longevity risk tend to receive the most attention from the media and stakeholders alike. However, as defined contribution (DC) plans continue to grow in size and complexity, sponsors need to strengthen their focus on operational risk. This webinar will examine the various operational risks in detail and then suggest a protocol for developing a framework to help manage the risks.