Committee and Working Group Membership
Sometimes you don’t need a full time professional trustee on the main board. We can provide short term or long term appointments to a range of different committees and working groups to add expertise as required.
Joining a Committee
or Working Group
Whether your scheme is a mature defined benefit arrangement, a hybrid arrangement or a defined contribution scheme central to your HR strategy, there is always a time when a little extra knowledge or experience can add value. As a Trustee it is always important to be able to challenge advisers and be able to make well informed decisions. Investment is a on obviously complex area, where at times of major change or development of default strategies being able to co-opt membership of the Board to bring expertise to the Trustee side of the table can help bring clarity and timeliness to decision making.
We are seeing an increasing number of appointments either outside the main board or on an interim basis for a variety of reasons, including:
- Managing short term conflicts of interest at times of valuations or corporate restructures.
- Bring specialist investment knowledge to an Investment Committee or to oversee a transition project
- Adding member communication, social media and data skills at a time of change.
As a professional trustee, we will always bring knowledge of market developments, specialist knowledge as required and a focus on strong stakehodler management.
> Contact us online today to get started or call us on 020 8879 6500
Our Committee And Working Group Membership Service
Continuous ongoing review of the financials by the Trustee enables the employer to maximise cash-flow, delivering strong cost-efficiency for the employer.
The responsibility and accountability of the professional trustee ensures the scheme is established and maintained to the highest standard, with appropriate funding at all stages to meet claim liabilities. Through this process employers are able to maximise any surplus funds in the trust, enabling robust financial control.
We enable an independent objective and consistent approach in all activities requiring discretion and judgement. This ensures good governance and compliance taking account of legal, audit, tax and communication considerations. This includes providing professional advice and guidance on the benefit structure, assessing and evaluating claims against best practice and Trust Terms & Conditions
We will work with the benefit providers to ensure the scheme is completely aligned to the requirements of the employer.
Our support includes the establishment and maintenance of the scheme- for example overseeing the drafting of rules, eligibility, tax and legal compliance. We will conduct provider reviews to ensure competent and effective scheme management is maintained to ensure the employer and employees receive the best in market bespoke solutions.
Committee And Working Group Membership Frequently Asked Questions
How does this type of appointment add value given we already have professional advisers?
Professional trustees and advisers serve different roles and provide distinct forms of value when it comes to making decisions. A professional trustee typically has a fiduciary responsibility to act in the best interests of the beneficiaries of the trust. . Advisers, while offering valuable advice, may not have the same level of fiduciary responsibility. A professional trustee is also able to challenge the adviser in a constructive manner given their experience of similar issues on other boards. In particular, how best to reach a proportionate decision, controlling adviser costs while helping the Committee or Working Group in agreeing risk tolerance, risk mitigation, and compliance with relevant regulations. Advisers may provide risk analysis and advice, but they don’t typically bear the same level of responsibility for risk management.
What is the minimum term of an interim appointment?
Technically there is no minimum term although given that this type of appointment is typically to deal with a complex issue they tend to be for 9 – 18 months. However, where interim appointments have been to deal with situations such as “conflicts of interest” at valuation or corporate restructures, sometimes the inclusion of a professional trustee can significantly reduce the time required and lead to shorter period of involvement.
Get Started With Our Committee And Working Group Membership Today
Our Committee & Working-Group Membership service lets you plug our years of experience directly into the parts of your governance structure that carry the heaviest technical or workload demands, without changing your overall trustee model.
If you would like to get started with our short-term or long-term appointments, please feel free to contact our team, and we can help you through this process.
We also offer other professional trusteeship services such as our sole trustee services and chair of trustee to bring specialist knowledge, practical experience and, where appropriate, leadership to your Trustee Board.
