Strategies for financial executives in managing pension risk
The first step in a balanced approach to managing a pension is for a company to define its top goals, taking into account all of the enterprise’s constituencies (e.g., employees, human resources, finance, and others). This strategy assessment is best left to the company’s executive leadership, as the influence of pension providers, including asset managers, actuaries, and consultants, may cloud the big picture. Once an enterprise has defined its primary goals, the next step is understanding the sensitivity of a plan to asset returns, liability hedging, contribution policy, and benefit management. Reviewing and quantifyin g the trade-offs to be made within each lever and among levers allows the development of a balanced, multi-lever approach to enable a greater probability of success in managing pension risk.
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