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The biggest need for pension funds is to ensure that risk management by managers is not just left in risk manuals but is actually put in practise and there is no better way to find out than to attend meetings and meet the middle office and Chief Risk Officer. Banks have been the most regulated institutions with lots of risk manuals and yet they still do not implement risk procedures and guidelines. SO ODD good so long as this is strictly monitored and surprise visits arranged; one knows how managers can be ready for arranged and announced meetings with regulators!