Data Central For Fund Compliance Officers
Fund compliance officers are often high-skilled employees. However, with increased regulation coming from institutional bodies likes the CSSF taking a more central role, these valuable people get busier than ever with non-valuable tasks. For example, they spend a lot of their time every day performing data reconciliation between the different files they receive from fund administrators or other data providers. This task, usually done via Excel spreadsheets, is absolutely not where fund compliance officers add value with their expertise. Furthermore, it is really time consuming. So, why not eliminate this redundant data processing with an automation solution that not only saves time, but also totally minimizes the risk of making human error while handling massive amounts of data?
How Data Central Helps Fund Compliance Officers
With April Software’s risk and compliance monitoring solution Data Central, staying ahead of regulatory requirements becomes a breeze. Investment management and servicing companies get the help they need to manage their risk and compliance obligations. At the same time, they drive costs down and improve efficiency.
By taking care of the data management and, more specifically, the data management related to the fund administrators, Data Central allows management companies to focus on their more challenging tasks. What it does is taking a time-consuming part of the company’s daily routine and automating it. It centralizes all data in one coherent place. From then on, our solution can input/output data to any risk management, compliance, or portfolio management system. Alternatively, it can give access to the uniformed data through PDF or Excel reports. Additionally, fund compliance officers can make their own custom reports as per their individual needs and preferences. To facilitate the process, Data Central comes with a specially developed Excel add-in.
More Benefits for Fund Compliance Officers
A more efficient and transparent consolidated reporting for fund compliance officers – that’s just the tip of the iceberg of Data Central’s capacity. You can rely on it to warrant the quality of the financial data that comes in and out. And you can rely on it to do it fast and seamlessly. Finally, you can rely on it to do it the way you need it to be with its customizable features and flexibility. But there’s even more to it.
One of Data Central’s major functionalities is that it checks all incoming data for quality and consistency. Data gets verified and approved. From then, it becomes very easy and fast for fund compliance officers to fully automate the necessary compliance monitoring checks and risk monitoring checks. They can do it by using the software’s Dashboards. Moreover, Data Central has been designed to give maximum flexibility and customization. This way, officers are able to implement any checks they see feasible. The checks and controls can be easily done by Data Central itself through its Investment Restrictions Monitoring tool, which scrutinizes investment transactions and ensures that all legal regulations are complied with.