Risk Management

Pension Review Board Staff on August 2, 2022

Texas Pension Review Board

Minimum Educational Training Program

This course presents the different types of major risks facing public retirement systems, and tools that may mitigate possible risks. These tools include risk assessments, controls and audits. The course examines general risk management practices, as well as specific types of risk facing public pensions including fiduciary, funding, investment, and data security risks. A roadmap follows:

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Introduction

Introduction
Major Risk Facing Pensions
Roles in Risk Management
Risk Management Systems
Steps in a Risk Management System
Risk Assessment

Internal Controls

Internal Controls
Audits
Types of Audits
Annual Financial Report (AFR)
Contents of an AFR
Reading and Understanding an AFR

Managing Specific Types of Risks 

Managing Specific Types of Risks
New Fiduciary/Governance Risk
Conflicts of Interest
Funding Risk
Mitigating Funding Risks
Funding Policy

Investment Risk

Investment Risk
Investment Policy 
Due Diligence

Managing Risk

Managing Data Security Risk
Managing Specific Types of Risk
Helpful Links and Additional Information
Final Quiz
Course Survey