CERN Pension Fund Governing Board External Professional Expert

The functions of the PFGB are laid down in Article I 2.05 of the Fund’s rules and, amongst other things, include monitoring the actuarial status of the Fund, reviewing the Annual Report & Financial Statements, approving the Statement of Investment Principles, Investment Guidelines, Risk Limit, and Strategic Asset Allocation, and approving the internal audit plan. The PFGB usually holds five meetings each year, including one joint meeting with the ATC and one with the IC, but additional meetings or conference calls may be scheduled if required. Typically, meetings last a full day and take place at CERN in Geneva, Switzerland, or exceptionally by videoconference. Professional members are expected to attend every meeting and are required to act in the best interests of the Fund and to abide by the CERN Code of Conduct and the Pension Fund Implementation Guidelines.

The CERN Pension Fund is the pension fund of the European Organization for Nuclear Research (CERN). The purpose of the Fund is to provide pension and disability benefits to over 7,000 members and beneficiaries employed at CERN and at the European Southern Observatory (ESO). Operating as a funded defined benefit scheme, the CERN Pension Fund's assets currently exceed CHF 4.6 billion. The Fund is an integral part of CERN but with operational autonomy. The governance of the fund is entrusted to the Pension Fund Governing Board (PFGB), which is assisted by an Actuarial & Technical Committee (ATC) and an Investment Committee (IC).

• deep and extensive experience of overseeing the assets and liabilities of large pension funds, or similar long-term institutional investors, such as endowments, foundations, and sovereign wealth funds

• academic and/or professional qualifications and experience in some of the following areas: Corporate/pension fund governance

• Actuarial science

• Asset management

• Portfolio construction

• Financial reporting

• Risk management

• Global custody

• Auditing

• Pensions administration