Asset Managers and Hedge Funds face operational challenges in managing fund administrators and integrating new businesses. We have provided risk and operational assessments including:
Developed and implemented risk assessment models for a $47B AUM asset manager and a $10B AUM hedge fund that resulted in containing outsourced internal audit spend even though the business and regulatory environment grew more complex.
Mitigated future reputational risk and operational errors in Performance reporting by improving processes and controls in new fund setups, error corrections, and client services; reduced potential errors in Asset Under Management report by applying consistent controls and identifying up to 1200 monthly manual entries.
Identified and addressed misreporting of hedge fund investments in the company’s quarterly financial report’s Fair Value investments in Level 1 instead of Level 2; mitigated non-compliance with hedge fund investor agreements.
Mitigated potential invalid trade allocation overrides by implementing appropriate support for approvals and identifying gaps in the trading system’s user access administration function.