Executive Education at Rotman ICPM
Board Effectiveness Program For Pension and Other Long-Horizon Investment Institutions
Program Dates: each Program runs 4.5 days - sign up today!
BEP 4: December 2 through December 6, 2013 - Accepting Applications
BEP 5: November 24 through November 28, 2014 - Accepting Applications
Program Fees / Application Apply Online Now
C$6,950 plus tax (deposit of 50% required with application)
To request a PDF step-by-step application instructions and/or list of application questions prior to applying, please email firstname.lastname@example.org
Course Facilities: Rotman School of Management, University of Toronto, Canada
Pension and other long-horizon investment institutions play critically important roles in providing economic security for their beneficiaries. At the same time, many Boards are struggling to keep up with the growing complexities of overseeing the investment and administration functions of these financial giants. Rotman ICPM and Rotman Executive Programs have designed a Board Effectiveness Program (BEP) to support the Boards of pension and other longhorizon investment institutions in clarifying their role in addressing the following key strategic issues that have emerged:
- Organization mission
- Fiduciary Duties
- Board Dynamics
- Roles of boards vs. management
- Investment beliefs
- Management of risk
- Organization design
- Human resource management, including compensation
Who Should Attend? The Program has been developed specifically for Board members of ICPM Research Partners. However, the BEP Admissions Committee will consider applications from members of non-Research Partner organizations to the degree that there is room in the BEP offering, the applicant has a relevant skill/experience set, and the applicant’s organization is a substantial participant in the pensions world. Sessions are limited to 35 people.
Faculty and Industry Leaders Keith Ambachtsheer is the Academic Director for the Program which will feature faculty from the Rotman School including David Beatty, Alexander Dyck, Roger Martin and Geoff Leonardelli. Faculty from other education and financial institutions include Rob Bauer, Claude Lamoureux, Ed Waitzer, Mark Wiseman, and Barbara Zvan.
SESSION OBECTIVES Participants are provided with an integrated framework to critically examine how these issues are linked together, resulting in a toolkit for Boards to enhance excellence and success in their pension organization.
Module I: Current Board issues and Board Dynamics
Who Are We, What Are Our Issues, and How Is BEP Going to Address Them?
Sets the stage for a 4 1/2 day hands-on discussion and debate on raising the effectiveness of Supervisory Boards of pension and other long-horizon investment institutions. Frames key Board challenges, and the organizational contexts in which Boards need to be effective.
A Brief History of Organization Governance and its Lessons for the Governance of Pension Institutions Today
Provides participants with an overview of the evolution of organizational governance through the ages, and relates this evolution to the challenges Boards of pension organizations face today. This includes setting aside old definitions of fiduciary duty, and recasting them in the context of 21st Century realities.
Boardroom Dynamics in the Face of Uncertainty and Risk
This Module includes a case study which will enhance participants’ ability to exercise good judgement and make high quality group choices while exercising organizational oversight over crucial decisions. Participants will also discuss elements of an effective group decision making process, and the link between decision making processes and outcomes. The session will also cover the process of GroupThink and how to avoid it.
Module II: Guiding and Assessing StrategyAssessingStrategy
Investment Beliefs and Organization Design
This module includes two Case Studies on Strategy. Through those Case Studies, participants will understand where investment beliefs come from in order to meet boards’ fiduciary duties. It will offer a conceptual framework through which participants can engage management on the beliefs behind any proposed investment strategy. The Case Studies will also make participants understand the range of organizational structure options available and how to evaluate their pros and cons. Participants will understand the Board’s role and responsibility in guiding and assessing organizational structure.
Module III: Monitoring Results and Risk Management
Financial Disclosure and Measuring Performance
A Case Study on financial disclosure in DB Pension Plans develops a first-hand appreciation for the importance of creating, understanding, and communicating material information about DB plan finances. A follow-on session provides a good understanding of practical benchmarking tools that permit the evaluation of organizational performance in investments and benefit administration.
The Board and Pension Sustainability
Pension design has become a hot topic for Boards, with the traditional DC and DB formulas both problematical. This session takes participants back to the basics of pension design and helps think through the key to sustainability of the 21st Century pension plan.
Assessing Financial and Other Risks
A Case Study on risk management at Ontario Teachers’ engages participants in a granular discussion on the risks that really matter in DB plans, and on how they are best measured and managed. Participants will review the respective roles and responsibilities of fund management and the Board in risk management and oversight.
Module IV: Enhancing Management and Board Performance
Compensation Policy and Effectiveness
A recent compensation study informs participants about the wide range of pension fund compensation policies and practices around the world today. This leads to a discussion about whether participant's own situations represent best compensation practices within the fund's operating constraints. Next, participants share their personal experiences as Board members and discuss actions to improve Board structure and performance for when they return to their organizations.
Module V: Addressing Current Board Challenges
Developing Solutions to Major Board Challenges
Teams are assigned a major Board challenge which they are asked to address, and present their solution to Program faculty and attendees. Each team is expected to use the insights acquired over the course of the Program and persuade the audience that they have identified the best possible solution to the problem assigned to them.