INTEGRATED ENTERPRISE RISK MANAGEMENT (IERM) FOR PENSION FUND ORGANISATIONS: FROM A TECHNOLOGY POINT OF VIEW

Abstract

Any appraisal at this point must keep in mind that the epidemic is far from over and that the pandemic was economic and financial consequences has been considerably reduced due to the strong governmental efforts. Such event occurred in this digital era has shaped many financial institutions, including the pension funds, to take bold policy actions to overcome this issue in the future, as their role in protecting and managing people`s retirement savings is crucial and critical (Feher and Bidegain, 2020). A pension fund is also an institutional investor who invests substantial sums of money in public and private enterprises. The principal purpose of a pension fund is to ensure that there will be enough money to cover employees' pensions once they retire in the future. Proper Integrated Enterprise Risk Management (IERM) is needed to cater for ISO 31000: 2018 Risk Management Standard – Principles and Guidelines and ISO 27001:2013 Information technology — Security techniques — Information security management systems — Requirements. This paper attempts to highlight the key IT-related risk factors and IERM in the context of a pension fund in this digitalization and post Covid-19 era; among others is the enhancement of performance of the investment system, digital readiness, technology-related processes, and system integrity.