Risk & Compliance

Risk & Compliance Group is responsible for identifying all aspects of risks to which the Fund is exposed to. The list includes Market Risk, Operational Risk, Credit Risk, Reputational Risk, etc.  In addition, the group is responsible for implementing VaR based risk budgeting framework, portfolio analytics and performance reporting.  The group is also responsible for implementing ethics and compliance policies relevant to the Fund.

Major responsibilities include:

The Compliance Section of the Investment Management Division (IMD) has a fiduciary responsibility to help protect the interests of the participants and beneficiaries in the UNJSPF and thereby improve their financial security.

This is done by ensuring that there are adequate compliance policies and procedures in place to prevent misconduct in its investment management functions.

The essential elements of IMD’s compliance program include:


All of the above are intended to confirm that IMD is carrying out its duties prudently and is acting solely in the interests of the plan participants and beneficiaries

Within this framework, it is important that IMD have a program that includes policies, practice and training to ensure that the IMD Staff understand and comply ethical and compliance programmes.

Since 2010 IMD Compliance has instituted several key policies that confirm IMD’s commitment to the highest standards of ethics, good governance, competence and integrity:


Going forward, IMD Compliance will continue to develop and apply strong systems of controls so as to look after the best interests of the UNJSPF together with the United Nations and the 23 Agencies, Funds and Programmes that share in the UNJSPF.