Agenda item

This paper details the Change Team Quarterly Report of activity for the period October-December 2023.

Speakers:

Nicole Russell, Head of Change Management

Neil Mason, LGPS Senior Officer

Paul Titcomb, Head of Accounting & Governance

Key points raised during the discussion:

1.    The Head of Change Management introduced the report by highlighting a few areas she was proud of.  These included:

·         the dashboard, on which there had been much feedback; 

·         the workforce strategy put in place, with a positive change in nearly every metric on the people side;

·         the refreshed Communications Policy, and

·         the new Members website.

2.    The Head of Change Management explained that the Digital Design Team had been working in her area to understand how much progress was made towards the mission and vision of the team. The team was also looking at any areas that would benefit from a digital solution or enhancement.  The findings of this work would be reported to the next committee meeting.

3.    A Member queried the issues around banking controls and Unit 4.  The Head of Accounting & Governance explained that the banking controls concerned the upload of data from the bank account into Unit 4.  That was the only piece of the process that not under the Pensions team’s control and new practices therefore were being developed.

4.    A Member asked for further details around audit ratings and what they meant. Another Member, who was also a Member of the Audit Committee, explained that there were historic issues, but good progress was being made with their resolution.

5.    The LGPS Senior Officer introduced and explained in detail the annex to the report on training.  He explained that training would be specific to the quickly changing regulatory, administration and investment landscape of the LGPS.  There was significant pressure from the Scheme Advisory Board and the Department for Levelling up Housing and Communities on this, reiterated by the Minister in his speech last week, that Pension Fund committees should essentially have the same level of training as professional trustees. Officers had taken soundings across the industry, and in particular amongst partner funds, and were proposing a residential course on 23 and 24 October 2024.

6.    The Chair reiterated the benefits of the proposal for a residential development course which would enable more detailed dialogue between the Committee, Board Members and the officers. Also, the Committee was signing up to the Stewardship Code which required programmes of continuing professional education. Long-standing Members were encouraged to take up the development courses as there had been many changes over the last decade and refresher training was essential.

7.    A few Members commented on the need for a backup plan for those unable to make the residential course and for newcomers that may start after the residential.  The LGPS Senior Officer stated that this had been considered and assured the Committee that the residential course did not replace any of the existing training arrangements but was an extension.

Actions/ further information to be provided:

That the Democratic Service Officer share explanations of the audit ratings with Committee Members.

Resolved:

That the report be noted.