Asset Management Internal Audit & Operational Risk

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.

 

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