Compliance, Ethics and Environmental, Social and Governance (ESG)

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Compliance, Ethics and Environmental, Social and Governance (ESG)

To ensure that an organisation is compliant with key regulations, legislation and codes of practice. To establish risk management strategies aligned to the strategic objectives of an organisation and to build business resilience by the creation of a robust business continuity plan. To be instrumental in controlling key aspects of an organisation’s corporate social responsibility (CSR) policies and their impact on the external environment. To ensure the highest standards of probity and ethical behaviour in all aspects of pensions management. To recognize and address the importance of sustainability in pensions.

This functional area comprises the following technical competences:

Governance and compliance
Risk management
Corporate Social Responsibility (CSR)
Ethics
Sustainability in pensions

Governance and Compliance

Support

Carries out work in accordance with work instructions, standard operating procedures and legislative, statutory and regulatory requirements and makes practical suggestions for improvement

Explains their responsibilities and liabilities for compliance with legislative, statutory and regulatory requirements

Explains the potential consequences of non-compliance with legislative, statutory and regulatory requirements

Relevant qualifications:

Award in Pension Essentials

Supervisor

Monitors team members’ work to ensure they meet legislative, statutory and regulatory requirements

Ensures that all operational tasks and work instructions are set up and organised to comply with legislative, statutory and regulatory requirements

Monitors the extent to which operational tasks comply with legislative, statutory and regulatory requirements, reporting shortfalls and problems

Relevant qualifications:

Manager

Monitors the extent of on-going compliance with legislative, statutory and regulatory requirements and reports shortfalls

Establishes processes and systems that ensure on-going compliance with legislative, statutory and regulatory requirements

Manages the implementation of policies and procedures to meet legislative, statutory and regulatory requirements

Relevant qualifications:

Senior

Evaluates the implications and potential consequences of compliance with corporate governance and legislative, statutory and regulatory requirements

Analyses the scope, purpose, roles and responsibilities of those involved in pensions-related corporate governance

Develops pensions-related processes and procedures that meet corporate governance and legislative and regulatory requirements and ensures their on-going fitness for purpose

Relevant qualifications:

Strategic

Evaluates the extent to which an organisation’s policies comply with legislative, statutory and regulatory requirements

Develops pensions-related governance policies, structures and processes that are coherent with an organisation’s overall governance requirements

Evaluates the impact of pensions-related corporate governance, financial, ethical and social commitments and values

Relevant qualifications:

Risk Management

Support

Follows procedures relating to forms of pensions-related risks and business continuity

Identifies hazards and risks in the workplace and takes action to reduce them

Maintains and provides accurate and up-to-date risk-related information and makes practical suggestions for improvement

Relevant qualifications:

Award in Pension Essentials

Supervisor

Ensures that team members comply with business continuity, disaster recovery and contingency requirements

Monitors identified pensions-related risks and areas of work that may present risks

Reports on all risks identified and the actions taken to manage them

Relevant qualifications:

Manager

Develops and implements pensions risk controls in line with business continuity strategies and plans and the risk criteria

Designs and manages monitoring systems that are capable of identifying pensions-related business risks and shortfalls in compliance with legislation

Reports on risk identification and mitigation and makes recommendations to improve risk management processes

Relevant qualifications:

Senior

Monitors the pensions business environment and assesses the likelihood of business risks occurring

Develops pensions risk and crisis management criteria, policies, systems and processes that comply with legislation

Evaluates the relationship between pensions-related business risks, business continuity and corporate governance

Relevant qualifications:

Strategic

Analyses the scope and significance of pensions-related business risks and their potential impact

Develops a comprehensive and integrated pensions risk management strategy

Evaluates the impact and effectiveness of a pensions risk management strategy

Relevant qualifications:

Corporate Social Responsibility (CSR)

Support

Explains the purpose of CSR policies and activities

Explains the value to an organisation of CSR involvement

Complies with CSR policies and ethical behaviour requirements and makes practical suggestions for improvement

Relevant qualifications:

Award in Pension Essentials

Supervisor

Ensures that pensions suppliers and services comply with CSR policies and ethical behaviour requirements

Explains the importance and impact of CSR policies and activities

Explains the scope of CSR policies and activities and the role of stakeholders

Relevant qualifications:

Manager

Integrates socially responsible policy and ethical behaviour requirements into business processes and procedures

Promotes the benefits of socially responsible and ethical ways of working

Evaluates the impact of CSR activities and recommends improvements to socially responsible ways of working

Relevant qualifications:

Senior

Identifies opportunities for CSR involvement that maximise benefits to an organisation

Develops and promotes CSR policies and ethical behaviour that maximise business opportunities

Ensures the coherence and ethical nature of an organisation’s strategy, values, activities, policies and behaviour

Relevant qualifications:

Strategic

Evaluates the scope, benefits and costs of community involvement, CSR and ethical behaviour

Influences the development of a CSR strategy and ensures coherence with the overall business strategy

Evaluates the impact of a CSR strategy and ethical behaviour

Relevant qualifications:

Ethics

Support

Carries out work in accordance with work instructions and ethical standards and makes practical suggestions for improvement

Explains their responsibilities and liabilities for compliance with ethical requirements

Explains the potential consequences of non-compliance with ethical requirements

Relevant qualifications:

Award in Pension Essentials

Supervisor

Monitors team members’ work to ensure they meet ethical requirements

Ensures that all operational tasks and work instructions are set up and organised to comply with ethical requirements

Monitors the extent to which operational tasks comply with ethical requirements, reporting shortfalls and problems

Relevant qualifications:

Manager

Monitors the extent of on-going compliance with ethical requirements and reports shortfalls

Establishes procedures and systems that ensure on-going compliance with ethical requirements

Manages the implementation of policies and procedures to meet ethical standards

Relevant qualifications:

Senior

Evaluates the extent to which a pensions organisation demonstrates ethical behaviour in its strategies, policies, processes and people

Articulates a vision of ethical behaviour and an ethical culture across an organisation

Develops pensions processes that meet an organisation’s ethical standards

Relevant qualifications:

Strategic

Evaluates the scope for ethical behaviour in a pensions organisation

Influences the pensions industry on its approach to ethical behaviour

Evaluates the impact of ethical behaviour on corporate governance, finance and organisational reputation

Relevant qualifications:

Sustainability in pensions

Support

Explains the meaning of ‘sustainability’ in context of pensions

Explains their role and responsibilities in context of pensions

Carries out work in accordance with work instructions and good sustainable practice and makes practical suggestions for improvement

Relevant qualifications:

Award in Pension Essentials

Supervisor

Monitors team members’ work to ensure they meet sustainability requirements

Ensures that all operational tasks and work instructions are set up and organised to comply with sustainability requirements

Monitors the extent to which operational tasks comply with sustainability requirements, reporting shortfalls and problems

Relevant qualifications:

Manager

Monitors the extent of on-going compliance with sustainability requirements and reports shortfalls

Establishes procedures and systems that ensure on-going compliance with sustainability requirements

Manages the implementation of policies and procedures to meet sustainability standards

Relevant qualifications:

Senior

Assesses the impact of sustainable practice on an organisation’s pensions policies and processes

Develops and promotes sustainable policies that maximise business opportunities

Evaluates the advantages, disadvantages, requirements, likely costs and implications of introducing sustainable improvements into an organisation’s pensions activities

Relevant qualifications:

Strategic

Evaluates the influence and impact of sustainability in the pensions industry

Evaluate the scope for improvements to sustainable pensions products and services and their management

Promotes the importance and value of a sustainable approach to pensions nationally and internationally

Relevant qualifications:

Functional areas

The role of the pension profession

Sector Knowledge
Information and Knowledge Management

Pensions Strategy
Pensions Policy

People Management
Change Management

Product and Service innovation
Managing Product and Service delivery
Benefit Calculation and Delivery
Regulated Retirement Advice
Investment Portfolio Management

Governance and Compliance
Risk Management
Corporate Social Responsibility
Ethics
Sustainability in Pensions

Quality Management
Client Relationship Management (CRM)

Trusteeship

What are technical competences?

The technical competences have been developed in consultation with the industry to reflect the needs and requirements of the profession.

This document sets out the standards; explains how they can be used and by whom and directs readers to sources of information, learning materials and qualifications.

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