Risk Management
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:

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