Governance is crucial in the pension entities market, as it ensures security, transparency, and efficiency in managing participants’ resources, aligning the interests of all stakeholders.
See now how the IBM Pension Foundation, by contracting Evertec’s governance service, coupled with the Compliasset system, was able to improve its management and monitoring of the requirements imposed by Previc, bringing greater security, control, and centralization of governance-related obligations, with clearer, timelier, and more efficient follow-up.
Main governance challenges: the IBM case
The IBM Pension Foundation (FPIBM), a closed complementary pension entity and non-profit organization, has the mission of promoting the financial security and future readiness of its participants.
Like many EFPCs, FPIBM faced the typical challenges of a lean structure, especially regarding the management of governance activities and regulatory compliance.
With a regulatory landscape in constant evolution and strict deadlines set by supervisory bodies, the entity identified the need to strengthen its monitoring, control, and documentation processes in order to ensure greater security, agility, and compliance.
Among the main points of attention were:
- Need to centralize and give visibility to regulatory obligations: manual tracking made it difficult to promptly identify regulatory changes and their respective deadlines, increasing the risk of non-compliance;
- Lack of traceability and consolidated evidence of delivered items: although the Foundation produced the required documents, there was not always a clear and automated process to ensure proper publication and proof of the actions taken;
- Decentralized management of the qualification and certification processes for officers: control of the legal requirements applicable to governance members was carried out in a fragmented way, which hindered a quick view of each officer’s status.
Overall, the opportunity was identified to enhance the governance structure through the adoption of appropriate tools and mechanisms that would provide greater control, traceability, predictability, and regulatory security.
Value partnership: FPIBM’s journey with Evertec’s BPO
Seeking greater control, regulatory security, and operational efficiency, the entity relied on Evertec’s Governance team to implement the specialized service, coupled with the Compliasset system.
The implementation was conducted in a structured manner, respecting operational particularities and promoting the gradual adaptation of users to new routines. The process was guided by active listening, continuous alignment, and customized deliverables according to the entity’s reality.
This progressive and collaborative model enabled:
- The consolidation of a single environment for recording and managing regulatory obligations;
- Automated monitoring of legal deadlines and tracking of regulatory updates;
- Standardization of the flow for making documents available and publishing them in accordance with legal requirements;
- Systematized control of the processes for authorizing, certifying, and qualifying officers, with alerts and compliance evidence accessible in real time;
- With Compliasset’s support, the governance process gained greater traceability, predictability, and security, contributing to more efficient, strategic performance aligned with the sector’s requirements.
Tangible results: FPIBM’s gains with Evertec’s BPO
Adopting Evertec’s governance service brought tangible gains to the entity’s operations, with noticeable improvements across various management aspects. Among the main benefits identified are:
- Greater control and traceability of legal obligations, with deadlines and deliveries monitored in a centralized and organized way;
- Reduction of rework and greater clarity in defining responsibilities, resulting from coordinated action between the governance team and the entity’s focal points;
- Improved organization and availability of legally required documentation, promoting more transparency and agility in addressing inspections;
- Standardization and improvement of control over officers’ authorization, certification, and qualification processes, contributing to the mitigation of regulatory risks;
- Greater ease in day-to-day governance operations, using the Compliasset system, which brings robustness and ease of use.
As the entity uses the solution, along with our system, quantitative data are being generated and tracked to support a broader performance evaluation, strengthening strategic decision-making and the continuous improvement of governance.
Does your entity need to optimize compliance with the rules applicable to the complementary pension segment and meet the requirements of supervisory bodies with greater precision? Talk to our consultants now and learn about our governance service!
