Fiduciary Risk

Fiduciary Risk

The risk that an agent handling funds on behalf of a principal will not live up to his/her full fiduciary responsibility. That is, fiduciary risk is the possibility that an agent will not act in the client's best interest. This does not necessarily include foul play or fraud. It could simply mean that the agent is not handling the client's funds in the best possible way.
References in periodicals archive ?
the substantial fiduciary risk of the project will be mitigated through the strengthening of bisp financial management systems and capacity.
In addition to easing the administrative burden of maintaining multiple providers within their retirement plans, consolidation has increasingly become a solution for many not-for-profit employers, like the University of Oklahoma, in helping minimize fiduciary risk and exposure and delivering a more beneficial plan for employees, " said John Ragnoni, executive vice president, Tax Exempt Business, Fidelity Investments.
Retirement Clearinghouse has reduced cost and fiduciary risk for plan sponsors while reuniting participants and their savings, keeping more than 700,000 Americans invested in retirement.
Contract awarded for specialist contributing to fiduciary risk assessment (vietnam)
He is a Certified Public Accountant, Certified Information Systems Auditor (CISA), Certified Financial Services Auditor (CFSA), and Certified Fiduciary Risk Management Specialist (CFIRS).
The programme will be implemented in an environment characterized by political stability, macroeconomic stability, moderate fiduciary risk and strong government commitment to poverty reduction.
Further, it is clear that while a workable safe harbor is needed, undue fiduciary risk is not the only obstacle to adopting an income component to qualified retirement plan outcomes.
The data is also used to make better decisions around benefits spending and reduce fiduciary risk.
The service provider/consortia will have experience including: delivering on similar projects in difficult and challenging environments, infrastructure contract and project management, financial management, fiduciary risk management, and demonstrating transparency, accountability and zero tolerance to fraud and corruption in the supply chain.
At the same time, these programs help plan sponsors operate more efficiently and reduce fiduciary risk," Williams added.
Daniels Webster s extensive financial industry experience includes serving as Executive Vice President, JPMorgan Chase s firm-wide Market and Fiduciary Risk Management until 2005, and prior to that as the global head of US Dollar Fixed Income Derivatives at UBS and head of Fixed Income Arbitrage trading at Chase Manhattan Bank.
In addition to leading the personal trust and investment management business, Pittman will develop growth strategies for The Private Bank, and oversee specialized services, wealth planning, new product development, training, and fiduciary risk management.