Internal control
The Accountability Body assesses the policy of the Board and advises, for example, on the communication policy, the complaints procedure and the remuneration of the Board. You can read the judgement of the Accountability Body in the annual report.
Members of the Accountability Body
Ms E. van den Brand
Mr D. van der Mee
G. van Es
The Review Committee monitors the Board's policy, the general course of affairs within the pension fund and risk management. The Review Committee also monitors the balancing of interests. The review committee is accountable to the board and also reports to the accountability body and to the management of IFF. A report of the committee's findings can be found in the pension fund's annual report.
There are three key functions: the risk management function, the internal audit function and the actuarial function. The key functions have a supervisory role within the pension fund in their area of interest. The holders of the key functions are ultimately responsible for the duties of their key function.
Our key function holders
The risk management function ensures that the board has an overall view of the risks to which the pension fund is exposed. The key function holder for risk management reviews and monitors the risk management system and advises the board on the management of risks. The key function holder has an independent position within the pension fund. Hanneke Niekus is key function holder for risk management.
The actuarial key function assesses and oversees the correct calculation of the pension fund's (financial) liabilities and provisions. Sprenkels and Verschuren is the actuarial key function holder and also the certifying actuary of the pension fund.
The internal audit function
We have targeted investigations (audits) and thus monitor the operation of the pension fund's internal control measures and procedures. The internal audit function is the capstone of all guarantees of controlled and sound business operations within the pension fund. Jos Stelder is key internal audit manager.
External control
De Nederlandsche Bank (DNB) monitors the financial set-up of the pension fund and the expertise and integrity of its directors. The Financial Markets Authority (AFM) monitors the pension fund's communication with its participants.
The Personal Data Authority (AP)
The Personal Data Authority (AP) supervises compliance with the legal rules for the protection of personal data. Among other things, it investigates compliance with privacy laws and handles privacy complaints.
Accountancy and actuarial services
PricewaterhouseCoopers is the external auditor. They annually audit our figures and approve the annual report. As actuaries, Sprenkels and Verschuren calculate and evaluate our liabilities and the associated risks.