cyber security – Benefits Canada.com

How Texas’ Teacher Retirement System is incorporating AI into pension governance

bmcgovern — Thu, 26 Oct 2023 15:00:53 +0000

While artificial intelligence represents a new cornerstone for institutional investors’ operational tasks, corporate governance will be essential to ensure the risks are properly managed, according to Andrew Roth, deputy director of the Teacher Retirement System of Texas. During a webinar hosted last week by the National Institute on Retirement Security, he detailed how the pension […]

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Ontario’s electronic monitoring policy ensures employer transparency: lawyer

Sadie Janes — Mon, 03 Oct 2022 13:00:55 +0000

By requiring employers to have a written policy on the electronic monitoring of their employees, the Ontario government is aiming to increase employer transparency, says Andy Pushalik, partner and head of the employment and labour group at Dentons Canada LLP. “With so many employees now working from home, [the government] felt there was a requirement that […]

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Provident10 revamping IT governance strategy in response to cybersecurity risks

Gideon Scanlon — Thu, 07 Jul 2022 17:36:21 +0000

The administrator of the Newfoundland and Labrador Public Service Pension Plan is planning a revamp of its information technology governance processes to mitigate cybersecurity risks. “The organization understands the importance of technology in enabling modernization of pension administration service delivery,” wrote Provident10 in the PSPP’s 2021 annual report. “Modernization will advance member and stakeholder experiences, as […]

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Cybersecurity issues rank as top concern for risk managers: survey

Gideon Scanlon — Thu, 28 Oct 2021 14:30:05 +0000

Risk managers consider cyber attacks and data breaches as the biggest threats to businesses, including those in the financial sector, according to a new survey by Aon. The survey, which polled more than 2,000 respondents in 16 global industries, also found that cyber security and data breach risks are rated as the most significant risk […]

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Caisse investing further in green transportation, Ontario Teachers’ in cybersecurity

mschmit — Tue, 02 Feb 2021 11:00:06 +0000

The Caisse de dépôt et placement du Québec is continuing its investment partnership with MacKinnon, Bennett & Company Inc. in the form of a new joint $150-million investment in late-venture and early growth-stage companies focused on the decarbonization and transition to renewable-energy-powered transportation. The Caisse initially invested in the company in 2016 and again in […]

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OSFI launches discussion on tech risks to pensions, other federal financial institutions

mschmit — Mon, 21 Sep 2020 05:20:32 +0000

The Office of the Superintendent of Financial Institutions is launching a three-month consultation on risks and other considerations regarding technological advancements impacting Canada’s financial sector. Along with a discussion paper, the consultation’s objective is to ensure federally regulated financial institutions and pension plans have solid strategies to manage non-financial risks. According to the agency, while rapidly […]

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Bank of Canada report warns of business, household debt from coronavirus

mschmit — Fri, 15 May 2020 04:12:55 +0000

Financial markets are showing signs of concern about how well companies can weather the coronavirus economic crisis, the Bank of Canada said in a report outlining issues the pandemic is having on business and household debt. The central bank has spent the last two months making a flurry of policy decisions that include slashing the […]

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Hackers steal US$4.2 million from Oklahoma police retirement plan

mschmit — Tue, 10 Sep 2019 11:15:04 +0000

The Oklahoma Law Enforcement Retirement System was the victim of a cybercrime, with computer hackers stealing $4.2 million in funds. The OLERS, a benefits and pension administrator for retired law enforcement officers living in the state, said in a statement i’s confident the stolen funds will be recovered. It also noted no pension benefits for members […]

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Decumulation, cyber security among initiatives in latest CAPSA strategic plan

mschmit — Thu, 25 Apr 2019 05:57:51 +0000

The Canadian Association of Pension Supervisory Authorities has outlined its priorities for April 2019 to March 2022 in its new strategic plan, which included initiatives like focusing on defined contribution plan decumulation and cyber security. Jason Vary, president at Actuarial Solutions Inc., notes while all the identified priorities were worthwhile, some are more important than […]

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