The World Bank Treasury provides a highly customized capacity-building technical assistance program to pension funds in our member countries who need to build investment management capacity and/or strengthen their investment management operations. The program aims to benefit clients by transferring the experience, skills and knowledge accumulated by Treasury in managing the World Bank Group's pension assets over the past 50 years. The program helps pension funds to upgrade their processes, systems, and general investment management framework on a sustainable basis over a period of several years.
The scope of the capacity-building program can vary greatly and depends on the individual needs of each client. Joint working groups and project management/ implementation units consisting of client staff and World Bank Treasury staff arrive at agreed recommendations in particular areas within a specific time-frame and help to implement agreed solutions. The areas for possible assistance include, but are not limited to:
- establishing appropriate governance mechanisms for asset management;
- undertaking strategic asset allocation (SAA) within an asset-liability framework and/or incorporating other risk constraints;
- designing/selecting appropriate benchmarks to reflect the agreed SAA and managing assets against those benchmarks;
- implementing risk management systems, including tools for measuring, attributing, and allocating/budgeting risk;
- selecting and managing external investment managers;
- addressing middle office issues, such as custody, accounting, and reporting; and
- building capacity in financial technology and human resources.
The capacity-building program is provided on a cost recovery basis, with the cost being recovered through fees charged to the clients.
For more information on Treasury's capacity building technical assistance to Pension Funds on investment management issues, please contact Mr. Sudhir Rajkumar, Head, Pension Investment Partnerships via srajkumar@worldbank.org
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