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Investment Committee Self-Assessment

Board of Directors Investment Committee Self-Assessment 2011
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Please respond to the following questions using this scale:
5 Excellent - Best practices in place
4 Good - Functioning well with little need for change
3 Adequate – Process is working with areas for improvement opportunity
2 Fair – A general need for overall improvement
1 Poor – Need for prompt attention and significant improvement
 
Organziation
Poor 2 3 4 Excellent
The Investment Committee Charter clearly sets forth the nature and scope of responsibilities, and has been approved by the committee and the full board.
The Investment Committee has achieved the right balance of proactive oversight and delegation of accountability to company management and staff.
The Board is active in its consideration of the Investment Committee’s composition including the consideration of each member's investment or financial expertise and/or background.
The Investment Committee’s actions reflect independence from management, ethical behavior, and the best interests of policyholders.
The committee members are open, honest, and effective in their communication with the committee chair, company management/staff, external investment consultants/investment advisors, and each other.
Appropriate internal or external support and resources are made available to the Investment Committee.
The Investment Committee clearly sets forth their expectations, and provide feedback, concerning the execution of tasks, duties and responsibilities assigned to company management and staff.
The leadership of the Investment Committee chair is effective.
 
 
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Meetings, Agenda Setting & Reporting
Poor 2 3 4 Excellent
The Investment Committee membership meets on a regular basis with sufficient frequency to allow the committee to appropriately conduct its fiduciary duties and responsibilities.
The Investment Committee members are provided with appropriate materials in advance of meetings so as to allow for meaningful discussion.
Minutes and reports to the committee accurately reflect the significant activities, actions, and recommendations of the committee.
The Investment Committee meetings are well organized, efficient, and effective, and they occur often enough and are of appropriate length to allow discussion of relevant issues consistent with their responsibilities.
The Investment Committee’s agenda-setting process is thorough. Committee members know how to put topics on the agenda.
There is a meaningful discussion and consideration of the investment portfolio performance and objectives.
There is appropriate consideration of investment transactions, including disclosure and approval of these transactions.
 
 
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Oversight of Investment Processes
Poor 2 3 4 Excellent
The Investment Committee’s actions demonstrate its direct responsibility for the Investment Policy guidelines, selection of independent investment consultants, advisors, and asset management firms.
There is regular and active consideration of the investment policy, its objectives, and associated investment risks.
The pre-approval process over investment services as provided by the independent consultants, advisors, and asset management firms is effective and reinforces the independent nature of their selection, compensation, and relationship.
There are ongoing and effective procedures in place for the Committee’s evaluation of independent consultants, advisors, and asset management firms with respect to these firms' qualifications, performance, compensation, and independence.
Compliance with the Investment Policy Guidelines is reviewed and approved regularly by the Investment Committee.
Significant instances of non-compliance with the Investment Policy Guidelines are reported to the Investment Committee in sufficient detail and in a timely manner.
The fiduciary oversight of the of both The Regence Group Retirement Plan and 401(k) Savings Plan is effectively met thru delegation of direct responsibility to the Retirement Trust Committee
The committee receives regular and adequate updates and reports with respect to the Retirement Trust Committee’s actions.
The Cambia Board is regularly and appropriately apprised of the actions taken by both the Investment Committee and the Retirement Trust Committee.
 
 
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Continuous Improvement
Poor 2 3 4 Excellent
The Investment Committee provides effective orientation for new Investment Committee members.
The Investment Committee provides or encourages ongoing education for Investment Committee members.
The Investment Committee’s self-evaluation process is in place and effective.
Any and all matters identified that require follow-through are resolved.
 
 
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Overall Assessment
Poor 2 3 4 Excellent
Overall level of fiduciary independence, oversight, and governance as set forth by the Cambia Board.
Effectiveness of the Investment Committee as compared to other Cambia board appointed committees, or outside boards, you may serve on.
 
 
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