Agenda item

A report for the Board’s ongoing oversight of:

·       Scheme, Regulatory, Legal and Fund Update

·       Risk Register

·       Administration KPI update – 1 April 2023 to 30 Jun 2023

a)    Key business plan items – Aggregation Backlogs / i-Connect & Controls / Resourcing

b)    Outsourcing updates

c)    McCloud & Dashboard update

·       Audit update 2022/23

a)    SWAP Audit 2022/23

b)    ClearGlass audit – update

c)    SWAP KPI audit

·       Effectiveness review update

The Board considered the report of Jennifer Devine - Head of Wiltshire Pension Fund which provided information highlighting key issues and developments to enable the Board to fulfil its monitoring role.

The report detailed updates in the following areas:

·       Headlines

·       Key business plan items – Aggregations backlog, i-Connect & controls and Resourcing.

·       Scheme, Regulatory, Legal and Fund Update

·       Risk Register

·       Administration KPI update – 1 April 2023 to 30 June 2023.

·       Audit Actions

o   SWAP audit 2022/23

o   ClearGlass audit – update

o   SWAP KPI audit

·       Effectiveness review update

In response to questions, officers explained that issues raised during the recent employee engagement survey could be eased with a return to working from County Hall, which the Board fully supported, particularly as a dedicated space had been secured for the Teams use; there was an expectation that the backlog of cases will continue to reduce significantly following a reorganisation of the Team; that the KPI Change column would be reintroduced in the Administrative KPI’s Internally Set Targets (Fund) table for future reports, as requested by the Board; the Team would prioritise reducing the backlog in open cases for deaths and retirement; confirmed that Table 3 detailed the backlog of open cases; confirmed that actions 1 and 10 on the SWAP audit actions log should be paused due to material changes to actions since the SWAP recommendations were made (SWAP difficulties in acquiring staff and the training of new staff in a timely manner); and a schedule of SWAP audit priorities along with resources to be employed for each audit to be considered by the Wiltshire Pension Fund Committee.    

Resolved:

a)    to note the Fund updates and progress against the Business Plan 2023/24 key priorities.

b)    to endorse the risk register in Appendix 2 & the summary of risk changes since the last review, as a true and fair view of the risks currently being experienced by the Fund and to recommend that endorsement to the Committee.

c)    to note the progress recorded on the SWAP audit actions log and in light of material changes to actions since the SWAP recommendations were made endorse the pausing of actions 1 & 10.

d)    To prepare a schedule of SWAP audit priorities along with resources to be employed for each audit for consideration by a future meeting of the Wiltshire Pension Fund Committee.