What does your firm own? What are your portfolios worth? How big is your exposure? Answers to these questions are key to managing your firm's solvency. However when 56% of the North American buy-side lack confidence in their current accounting systems; 30% admit it would take days or weeks to calculate exposure across all holdings; and 40% concede investments decisions are made using poor quality data; it's time to ask if outdated technology is failing you.
In a newly released white paper titled "Accounting Solutions: Backbone of Investment Management", Woodbine Associates explores how weakness in outdated accounting platforms compromises a buy-side firm's ability to be competitive and can lead to human error, compliance breaches, failure to detect fraud and incorrect valuation of portfolios.
The Dodd-Frank Act signifies the biggest US regulatory change in several decades. According to industry experts, Dodd-Frank will have a substantial influence over an estimated 8,500 investment managers, all the 10-12 US exchanges and alternative execution networks.
With the Dodd-Frank deadline nearing, it is important that you evaluate whether the systems, processes and people you have in place can support the many requirements of the rule, including greater transparency and disclosure mandated by the reform.
This white paper is an important discussion that covers:
� The implications of Dodd-Frank on the securities and investments industry
� Investment system functionalities required to support OTC derivatives central trading and clearing
� The role enterprise data management plays in Dodd-Frank compliance but also in growth and value creation
Many buy-side asset management organizations have chosen an operating mode1 based on outsourcing. To support their operating model they often have an enterprise architecture which is based on feeds of core data from one or more third party administrators (TPA�s) to a range of best of breed systems.
Recent events in the financial markets have highlighted the weakness with this architecture since it often lacks the ability to deliver enough transparency. Today�s market situation requires that asset managers can at any time get access to an overview of portfolio risk, based on updated positions and market data consolidated consistently across portfolios, asset classes and TPA�s.
SimCorp takes this a step further and offers a solution with advanced business functionality for asset managers based on integrated �extended enterprise data management� (EEDM). The solution consists of a comprehensive data model designed to be used by all departments of the asset management organisation, business logic for calculating derived data and flexible operations and integration tools.