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World Bank Group Retirement Benefit Plans

PRI reporting framework 2018

You are in Strategy and Governance » Governance and human resources

Governance and human resources

SG 07. RI roles and responsibilities

07.1. Indicate the roles present in your organisation and for each, indicate whether they have oversight and/or implementation responsibilities for responsible investment.

Roles present in your organisation

          Head of Asset Allocation & Strategy
        

Other description (1)

          Operational Staff
        

Other description (2)

          Legal Staff
        

07.2. For the roles for which you have RI oversight/accountability or implementation responsibilities, indicate how you execute these responsibilities.

The assets and property of the Plan are held in trust separately from the assets of the Plan’s sponsor, solely to provide pension benefits and pay the expenses of the Plan. The Plan’s oversight committee is vested with responsibility for the overall financial management of the Plan, including all investment and funding activities.  This committee adopts policies and rules pertaining to the financial management of the Plan, adopts, and from time to time amends, the investment policy of the Plan, including the current strategic asset allocation and its revisions, engages actuaries, adopts actuarial methods and assumptions, makes valuations of the assets and liabilities of the Plan, determines contribution levels to be made by the Plan's sponsor and generally establishes rules for disbursement, safekeeping and investment of the Plan assets.

The Plan’s oversight committee meets quarterly to:

  • Review investment results and portfolio positions, discuss market environment and any expected changes to portfolio positions (every meeting);
  • Review actuarial valuations and approve sponsor contributions (once a year);
  • Approve the financial statements and annual report (once a year)
  • Review the investment strategy and the underlying assumptions, including risk tolerance and investment objectives;
  • Review implementation of ESG policy (as needed); and,
  • Approve the budget and review budget execution (once a year).

Investment, risk, operations and legal staff are primarily responsible for:

  • Implementing the overall strategy within SAA approved parameters;
  • Portfolio construction within the various investment strategies;
  • Tactical portfolio positioning and the overall use of the active risk budget;
  • Risk management and reporting;
  • Operational, ESG and legal due diligence;
  • Performance measurement and financial reporting.

Dedicated ESG staff is responsible for ensuring implemention of ESG integration approaches.

07.3. Indicate the number of dedicated responsible investment staff your organisation has.

1 Number

07.4. Additional information. [Optional]

One staff member is dedicated full time for ensuring the implementation of the responsible investment and ESG policy. This staff member is responsible for overseeing ESG integration across investment processes. The main priority areas of work include ESG integration, responsible ownership and communications and outreach. Coordination and collaboration occurs across asset classes and throughout investment processes, particularly with regards to ESG integration.


SG 07 CC. Climate-issues roles and responsibilities (Private)


SG 08. RI in performance management, reward and/or personal development (Private)


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