Risk is defined as the potential impact on objective achievement. LACERA faces various risks, including operational, fiduciary, and compliance risks. To manage risks and seize opportunities aligned with objectives, we employ Enterprise Risk Management (ERM).
Our risk governance structure comprises organization-wide and divisional efforts, including the LACERA Incident Response Team, Policy Committee, IT Coordinating Council, Process Management Group, Operations Oversight Committee and Board Reporting, Internal Audit and Audit, Compliance, Risk, and Ethics Committee Reporting, Business Continuity and Disaster Recovery, and Cyber Liability Insurance. Further enhancements to our information security program are underway.
Goal: Adopt and implement compliance and enterprise risk frameworks aimed at facilitating strengthened governance. Learn more about our strategic priority and how we'll reach our goal.
Tracking Specific Goals and Progress
At LACERA, we believe in the power of setting and sharing organizational goals. We understand that steady, incremental progress is the key to success and that transparency is essential in fostering a collaborative and accountable environment. To provide organizational transparency, we will be regularly tracking and updating our progress toward each of our stated goals.
| Objective Milestones | Status | Start | Expected Completion |
|---|---|---|---|
| 1. Ethics Compliance Program (ECP) Communication campaign | Completed | 10/2023 | Ongoing |
| 2. Approval of ECP Charter (BOR, OOC, JOGC, ACRE Committee, Boards) | On Schedule | 10/2023 | 07/03/2024 |
| 3. Update and obtain approval of updated ACRE Charter | On Schedule | 10/2023 | 07/03/2024 |
| 4. Chief Ethics and Compliance Officer (CECO) job description and class spec. | On Schedule | 10/2023 | 09/01/2024 |
| 5. Ethics and Compliance Orientation for MAC, SAC, and staff | Not Started | TBD | 09/01/2024 |
| 6. Complete inventory of all Policies, Procedures, and Charters | Not Started | TBD | 10/01/2024 |
| 7. ECP First Year Workplan | Not Started | TBD | 10/01/2024 |
| 8. Update LACERA Code of Ethical Conduct | Not Started | TBD | 10/01/2024 |
| 9. ECP Training Program Plan | Not Started | TBD | 10/01/2024 |
| 10. Determine critical risk areas and Scope of Program Oversight | Not Started | TBD | 11/01/2024 |
| 11. County Approval of CECO position | Not Started | TBD | 12/01/2024 |
| 12. PPC Management Software Solution/Compliance GRC solution (GRC 360) | Not Started | TBD | 12/01/2024 |
| 13. Initial/Baseline Divisional EC Risk Assessments and Ethical Culture Measurement | Not Started | TBD | 12/21/2024 |
| 14. Development of recruitment process for ECO staff | Not Started | TBD | 01/01/2025 |
| 15. Recruit/Hire CECO staff | Not Started | TBD | 03/01/2025 |
| 16. Recruit/Hire ECO staff | Not Started | TBD | 09/01/2025 |
