LPFA's compliance activities go further than pensions administration. See below for information on key risks, how fraud is managed and how we have a positive impact on the environment.
LPFA’s risk appetite statement is as follows:
As an appointed body responsible for the proper and prudent management of public monies, and the administration of a public sector pension scheme, the LPFA:
- is risk averse in terms of ensuring legal compliance, eradicating all forms of unfair discrimination, maintaining financial integrity and achieving effective delivery of operations; and
- has a greater appetite, in a controlled environment, for risk when pursuing new business development and attempting to maximise investment returns, having regard to its fiduciary duty acting in the long term best interests of fund stakeholders.
Fraud Control Framework
LPFA’s Fraud Control Framework sets out the Authority’s approach and commitment to fraud prevention and detection. LPFA recognises that its reputation for financial probity must be protected, and as part of that operation putting in place measures to tackle fraud and corruption is vital. This document also recognises the responsibilities of staff and contains an annual action plan to raise fraud awareness.
Information Security Policy
LPFA’s Information Security Policy is subject to continuous, systematic review and improvement and is designed to meet the requirements of ISO27001:2005. This policy will be reviewed to respond to significant changes including any changes in the risk assessment or risk treatment plan.
LPFA’s Environmental Plan is in line with the Mayor’s Green Procurement Code and current best practice. An approved supplier policy is maintained and confirms business will be transacted only with suppliers and contractors who have environmental (and Health & Safety and Equality) policies compatible with LPFA’s.
LPFA’s Environmental Policy is designed to satisfy the requirements of the ISO 14001:2004 standard, and operate environmental best practice throughout the LPFA.