en

12 June 2017 - 16 June 2017

ISSA Guidelines on Investment of Social Security Funds

12 June 2017 - 16 June 2017

ISSA Guidelines on Investment of Social Security Funds

ISSA Guidelines on Investment of Social Security Funds

Course Information

12 June 2017 - 16 June 2017

English

Turin Centre

Code: A9010319

English

Deadline: 19 May 2017

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Investing social security funds appropriately and responsibly requires a firm grasp of the underlying concepts and principles of investment. This course will allow participants to expand their knowledge and abilities by focusing on ISSA Guidelines on Investment of Social Security Funds, providing an overview of (1) investment governance principles, (2) investment governance structures, (3) common processes and (4) processes specific to internal and external investment management. Participants will learn best practices in investing a social security fund, from implementation to monitoring of an investment policy.

Description

Description

Investing social security funds appropriately and responsibly requires a firm grasp of the underlying concepts and principles of investment. This course will allow participants to expand their knowledge and abilities by focusing on ISSA Guidelines on Investment of Social Security Funds, providing an overview of (1) investment governance principles, (2) investment governance structures, (3) common processes and (4) processes specific to internal and external investment management. Participants will learn best practices in investing a social security fund, from implementation to monitoring of an investment policy.

Target audience

Target audience

This course is designed for social security professionals from ISSA member institutions. In particular, participants should hold positions directly related to the investment of social security funds and should be interested in improving the structures and processes involved in such investment through the application of ISSA guidelines.

Language requirements

Language requirements

The workshop will be conducted in English and participants are therefore expected to have a good command of the English language.

How to apply and costs

How to apply and costs

The cost of participating in this course is Euro 2180 EUR (1580 EUR for tuition and 600 EUR for subsistence) excluding international air travel and airport transfers. This is payable in advance by the participant’s sponsoring organization. This covers: tuition fees; the use of training facilities and support services; training materials and books; accommodation and full board at the Centre’s campus; emergency medical care and insurance. For information regarding payment, cancellation and refunds, please consult: http://www.itcilo.org/en/training-offer/how-to-apply 

Applicants should complete the online nomination form no later than 12 May 2017 supported by a nomination letter from their sponsoring institution indicating how the participant will be financed. The nomination form can be found at: http://intranetp.itcilo.org/STF/A9010319/en

Objectives

Objectives

The ISSA Guidelines on Investment of Social Security Funds assist member institutions in the design, implementation and monitoring of an appropriate investment policy. The Guidelines provide support at all steps of the process from the setting up of appropriate structures and assigning responsibilities to the investment process itself, both for social security institutions that carry out investment management internally and for those who use the services of external managers. The course will highlight how investment management processes are improved through the application of the ISSA Guidelines, linking key governance steps to practical measures to improve accountability and performance. Examples and case studies will be used to support the learning objectives.

The objectives of the training course are:

  • To equip participants with a broad knowledge of the key issues relating to the investment of social security reserve funds as detailed in the ISSA Investment Guidelines
  • To develop a firm understanding of the main roles and responsibilities in investment governance and management
  • To build capacity in ISSA member organizations to improve social security administration through the application of the ISSA Investment Guidelines. This includes adding to the understanding of the appropriate governance structures and mechanisms to support the investment process in their own organizations, the key factors and constraints in developing and delivering an investment strategy, and the tools to assess and monitor the management and performance of the internal investment function
  • To support participants’ reflection on the application of the ISSA Investment Guidelines in their own organizations
  • To facilitate the formation of a network of practitioners with an understanding of the ISSA Guidelines

Methodology and Programme Design

Methodology and Programme Design

The ISSA Guidelines on Investment of Social Security Funds course consists of 50 training hours. The course is structured in three phases:

  • The Pre-training requires 10 hours of self-guided learning on the online platform. Participants will be asked to complete a set of online activities related to the ISSA Investment Guidelines.
  • The On-site training consists of 5-day session by ISSA accredited experts supported by the ITCILO Staff. This phase will be delivered at the ITCILO in Turin and consist of 35 hours of training. During this phase, an action-oriented, highly participative approach will be used with particular attention to sharing international experience with a view to adaptation and practical application. Training methods will combine lectures and discussions, case studies, group work and individual exercises.
  • The Post-training will involve 5 hours of individual work to develop a proposal on how the ISSA Investment Guidelines could be applied in the participant’s organization. A diploma is awarded to the participant based on the satisfactory completion of this post-training assignment.

The training course is organized along the core areas of the ISSA Investment Guidelines:

Investment Structures, Principles and Beliefs. Participants will be introduced to the main principles of investing social security reserve funds including challenges, constraints and objectives. The role and objectives of the ISSA Investment Guidelines will be discussed in this context. ISSA Investment Guidelines 1-5 will be covered. Setting up these key building blocks
is essential to ensure that the investment process is
carried out effectively.

Investment Strategy: Factors and Constraints to Consider. Before putting in place an investment strategy or modifying an existing one, it is important that constraints on the investment of funds are identified (e.g. the nature of cash flow liabilities, investment restrictions, resources within the institution) and that other internal and external factors which impact the strategy are defined. ISSA Investment Guidelines 6-11 will be covered in the discussions.

Investment Processes: Carrying out investment in practice. This core area focuses on the steps that need to be taken to put in place an appropriate investment strategy. They include consideration of internal versus external management, passive versus active strategy and approaches to defining a risk budget and its use. ISSA Investment Guidelines 12,13,15-19 and 25-32 will be covered in the discussions.

Monitoring investment management. This core area covers a range of tools and steps to ensure that the investment of reserve fund assets continues to meet objectives and reflect changing internal constraints and external factors. It will include how to evaluate performance, the choice of appropriate benchmarks and monitoring external investment managers. In addition, the module will discuss reporting requirements. ISSA Investment Guidelines 14,20 24 and 33 will be covered in the discussions.

A Certificate of Achievement will be awarded upon satisfactory completion of the assessment of knowledge and competencies acquired.

ISSA Guidelines

ISSA Guidelines

Guidelines published by the International Social Security Association (ISSA) are professional standards for specific areas of social security administration. They have been produced by the world’s practitioners and constitute the knowledge base for the ISSA Centre for Excellence (CfE). The Centre provides technical advice, capacity building and recognition services to ISSA member institutions to support their efforts to work towards good governance, high  performance and service quality. This course is organized by the ITCILO as an accredited training partner of the ISSA’s CfE Academy diploma programme.

Resource Persons

Resource Persons

Through its pivotal role in social security management, strong partnerships with other social security institution and comprehensive technical cooperation projects around the world, the ISSA and the ITCILO draw on a worldwide network of social security experts from its own staff, social security institutions, recognized universities and research institutes and senior consultants.

Contact us

spgt@itcilo.org

Tuition cost: 1580

Subsistence cost: 600

Total cost: 2180

 

International Training Centre of the ILO

Viale Maestri del Lavoro, 10
10127 Turin - Italy

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