Management Consulting
Aon
Full Credential Description
We were appointed to carry out a triennial governance and trustee effectiveness review for the pension scheme of a large UK Bank. The review identified several areas for improvement, leading to a restructuring of their committees, revising the terms of reference, and enhancing the reporting processes between committees and the board. This restructuring ensured that all committee and board activities were aligned with the bank's business plan. The tailored solution provided a governance framework that was fit for purpose, enabling the pensions team to operate efficiently without gaps or overlaps in responsibilities. This approach not only streamlined operations but also contributed to the smooth running of the pension arrangement, ultimately saving time and reducing unnecessary costs. The review process included comprehensive assessments, such as the completion of a Governance Viewpoints questionnaire, interviews with key stakeholders, and observations of meetings to evaluate the effectiveness of decision-making processes.