ORA’s deadline is coming, but still unanswered questions?
The obligation of doing the own risk assessment followed the IORP II. While most of the requirements in this context are not new, there are some small changes. And especially the requirement to draw up one overall report in which everything comes together. Furthermore, the law offers scope for the funds to give their own interpretation. But that also raises questions. Because what exactly is expected? When is it good enough? What space do we really have?
These questions are crucial for the board to think about, and to fill in the gaps – because it is not all existing equipment.
We help various pension funds with the implementation and elaboration of the ORA, both through managed service through individual assignments.
These are several questions that we regularly see:
• Should we use scenarios or not?
• And how do we draw up the right scenarios?
• How do I know the right amount of information to spread?
• Which findings and action points do we mention, and which not?
• How do I make good use of the resources that are already available?
Based on our experience with pension funds, but also with banks (ICAAP) and insurers (ORSA), we have a lot of experience with these risk assessments. Feel free to contact us if you would like to exchange ideas about your ORA, or if you are curious about what we can do for you.
In this context, also take a look at our pages on risk type assessments and risk framework review for more information.
Do you have any questions about the ORA, or are you interested in our services? Please contact one of our consultants directly.
+ 31 6 19 88 34 71
+ 31 6 19 28 06 28
+ 31 6 37 35 37 50