How do you uphold the rules of the prospectus when you can’t see all the links in your distribution chain?
Oversight is one of the hot topics in the industry today. SEC sweeps are taking place, and new compliance rules and regulations are in effect. Our Intermediary Oversight platform gives you the ability to quantitatively and qualitatively evaluate your counterparty relationships in one portal, allowing you to better manage your oversight activities.
Does your firm have issues with:
- The volume of Intermediary relationships requiring detailed review
- Time-consuming manual collection of dozens of control objective responses
- Review of FICCAs that are cumbersome and tracking the concerns identified
- Increasing full-time employee headcount to manage the number of control objectives tracked or the number of intermediaries that are part of the program
- Lack of capabilities that efficiently provide comparison and analysis of past responses to current information
KEY FEATURES:
- Single Portal for managing all counterparty relationships including Intermediaries and Sub-advisors
- Structured Annual Review Process that is customized to match your requirements which can automate the initiation and follow-up of reviews to balance the annual workload
- Pre-configured with the ICI FICCA framework, with ability to add custom Areas of Focus and Control Objectives that align with your specific questionnaire requirements
- Track key attributes for each counterparty that are part of your intermediary profile, for example: “Do they Sub-account?” “Do they participate in revenue-sharing?” “Who is their Sub-TA provider?”
- Ability to store, analyze and rate responses for each individual control objective
- Full analytics dashboard tracking key metrics for all components of the oversight program
- Supports an algorithmic Risk Ranking of your counterparties by weighted score analysis of control objective responses. Control objective’s inclusion in the risk-ranking and weighting are defined by each fund.
- Allows users to create different configuration profiles for groups of similar counterparties in the program. Only certain control objectives relevant to each relationship are asked and gathered.
- Response Workflow allows for:
- Linking compliance documents (FICCA, SSAE-16, etc..), contact information of responder or actual emails to response.s
- Heat map creation for control objectives that need follow up or ones that are awaiting additional information.
- Workflow for information collection, control objective review, ranking and escalation of insufficient responses.
- Reporting on annual review outcomes and ability to compare responses across firms and over time.
KEY BENEFITS:
- Reduced headcount
- Increased efficiency of data collection, analysis and rating
- Comprehensive reporting on individual counterparties and compliance program as a whole
- Automates large parts of the review through comparison of previous sufficient responses
- Identify only the pieces of the FICCA that your program is focused on for review and automatically load and process the latest versions submitted by the dealers
- Automates Board reporting
- Tracks key contacts and correspondences with those contacts
- Stores and links documents to responses
Click here and complete a simple form to download our whitepaper on Distribution Oversight.
