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The impact of good governance on investment management and performance is immense. Several key factors contribute to good governance within pension funds, appropriate governance structures; well-defined accountabilities, policies, and procedures; and suitable processes for the selection and operation of governing bodies and managing institutions. Not surprisingly, good governance requires leadership by individuals with the expertise, professionalism, and integrity to navigate a fund's direction and withstand pressures from multiple constituencies. In the current context of aging populations in many countries, fiscal burdens on pension funds are increasing. At the same time, the necessity of delivering on pension commitments in contributory schemes means that governance, transparency, and accountability should be of utmost importance to pension fund managers. With these concerns in mind, part three of this book provides useful perspectives from senior managers of public pension funds, international pension authorities, and multilateral institution representatives on the structures, policies, and processes that aim to support good governance. Principally reflecting on the characteristics that have been conducive to good governance, including reform measures undertaken, they also consider policy and investment management measures taken to effectively manage fiscal risks, including those that emerged from the financial crisis.

In February 2002 the City of Dublin experienced severe flooding as a result of what was believed to be a combination of unusually high tides and meteorological surges. The disruption to the city prompted the Dublin City Council to put in place a programme of works of which the Dublin Coastal Flooding Protection Project is a seminal part. Subsequent analysis of tidal records and meteorological conditions has shown that the return period for the event of 1st February 2002 was not unusual. This paper will describe the development of a coastal flood forecasting system for the City of Dublin taking account of the state of coastal defences along the coast line as well as the Rivers Tolka, Dodder and Liffey. It will describe the role of numerical modelling to derive sea state conditions along the coastline affected. When coupled with a finite element hydrodynamic model, a model of the Rivers Liffey, Dodder and Tolka and overtopping, enable forecasts of future high tides and potential flooding to be made and actions taken. The emphasis is on the practical application of the results of the numerical modelling within a coastal flood forecasting system. The Paper will also describe the role of the project within the European Strategies & Actions For Emergency Risk management initiative (SAFER) and the development of best practice within a wider European context. The SAFER project has been constituted to promote a risk management approach to flooding focused on three central themes of: (a) provision of flood hazard and risk information; (b) flood emergency response planning and management delivered at the local level through; (c) flood partnerships.