Working Practice
1.1 Identification & prioritisation of issues
The TAP will maintain a list of issues compiled from input from Barrie & Hibbert's own analysts, users of Barrie & Hibbert calibration services and panel members.
The TAP will discuss and document priorities assigned to resolution of issues.
1.2 Meeting frequency
It is anticipated that the TAP will meet once each quarter.
1.3 Project resourcing & management
For each 'live' issue Barrie & Hibbert will appoint a project director who will work with the TAP chairman and Barrie & Hibbert technical representative. Barrie & Hibbert will allocate time to the TAP for use in TAP-related projects which should be viewed as a minimum resource for these projects. Barrie & Hibbert will review this time allocation from time to time in the light of the urgency, costs & benefits of the live issues list.
1.4 Project cycle
The normal development cycle for the analysis of issues and the documentation of standard practices will be as follows:
(i) Discussion paper
The first stage will involve the Barrie & Hibbert technical team, under the guidance of the project director, preparing a Discussion Paper (DP). The DP should identify the motivation for a statement of practice, the issues to be addressed and potential policy choices as well as demonstrating the advantages and disadvantages of different approaches. The DP is intended to give insights into possible solutions rather than provide a fixed policy.
The Discussion Paper will be distributed two weeks in advance of the relevant TAP meeting to TAP members. DPs are not normally distributed to Barrie &Hibbert clients, although both TAP and members of the TAP may seek other opinion from other interested parties. TAP members will then have one week to submit their comments to Barrie & Hibbert via email. These comments will be collated and distributed to the members before the relevant TAP meeting to aid discussion.
Comments on the DP will be recorded as part of, or appended to, TAP meeting minutes.
In certain circumstances, a revised draft of the DP may be produced before progressing to the publication of an Exposure Draft of practice.
(ii) Exposure draft
Following the acceptance of the Discussion Paper (as a clear statement of the issue and potential solutions), an Exposure Draft (ED) of policy will be prepared under the guidance of the TAP's project director for distribution to ESG calibration users and other interested parties. The TAP will invite comments for consideration with in a period of six weeks.
(iii) Statement of practice
Finally, after responses have been reviewed by the TAP, Barrie & Hibbert will publish a Statement of Practice (SoP) and the date at which it becomes effective.
The SoP will be placed in the public-domain on Barrie & Hibbert's web site www.barrhibb.com
1.1 Barrie & Hibbert ESG user group
It is envisaged that the TAP - through the chairman or other members - will report regularly to model users through the 6-monthly ESG user group meetings.