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The Additional Monitoring Tools (AMTs) were introduced by the Basel Committee on Banking Supervision with the first version of the revised Liquidity Framework in December 2010 (bcbs188).
The guidelines set by the Basel Committee have mostly remained unchanged in the latest version of the January 2013 text (bcbs238). Most of the topics covered by AMTs had already been described by the Basel Committee in “Principles for Sound Liquidity Risk Management and Supervision.” AMTs are part of the set of good practices that had to be followed by banks in order to manage liquidity risk. From an operational point of view, the AMTs appear to have been designed to monitor the areas of liquidity risk that fall outside the scope of LCR and Net Stable Funding Ratio (NSFR). In the Basel texts, “Monitoring tools” is a generic term encompassing all additional dashboards (including the maturity ladder and the asset encumbrance), which complement the liquidity ratios. For EBA, “Monitoring Metrics” include the market driven indicators (so-called “Monitoring tools”) and the maturity ladder. The contractual maturity ladders will highlight any maturity mismatch and provide detailed insights into the extent to which a bank relies on maturity transformation. The need for regulatory long-term liquidity projections may lead banks to adapt their funding strategy, increase their focus on the long term and possibly review their internal liquidity pricing grids – which are commonly flat beyond a 6 or 7 year-horizon. For example, the requirement to produce the same dashboard for each significant area of the organization may compel banks to strengthen their funding plans in foreign currencies. According to the May 2013 Consultation Paper, the contractual maturity ladder was supposed to be complemented by a forecast of inflows and outflows over the same horizon. Some of this data (such as the distribution and the cost of funding) can be considered highly confidential and do not resemble the kind of data usually required by supervisors. Maturity: For example, liquidity gaps on contractual and dynamic maturities are typically based on a series of maturity bands, ranging from a 1 month to 5-year maturity horizon.
Frequency: The frequency of the production of these indicators is not necessarily monthly and may be produced at a slower frequency – typically half-yearly, for long-term indicators. The volume of data to be collected and aggregated and the number of expected reports are significant.
AMT data will enable supervisors to build a comprehensive view of liquidity risks in the banking landscape, and easily spot banks with “abnormal” profiles. But at this early stage, one can reasonably anticipate amendments to the AMT framework: Some of the AMTs are possibly temporary tools that will need to be reviewed by supervisors in the medium term, that is to say once liquidity ratios are stabilized. As EBA pointed out, new additional requirements could be introduced in the coming years – such as intraday liquidity management, especially for large direct participants in the payment system. Firstly, banks need to assess their organizational and operational readiness to deliver the additional monitoring tools. Data: Does the bank already have access to the required data and level of granularity, and where? Secondly, banks should define a roadmap to facilitate integration into their Basel III programs and deliver the additional monitoring tools. In terms of scope, banks may define roll-out plans, with the prior approval of banking supervisors (starting with the most significant entities and sub-consolidation levels, roll-out plans could progressively be extended to all individual eligible entities). In the short term, which tactical production processes could enable the bank to meet the regulatory quality standards? When will it be possible to evolve from a series of independent dashboards to a more robust and integrated framework?
Finally, the target that banks should try to reach is a comprehensive liquidity reporting framework capable of delivering internal as well as regulatory requirements across the whole spectrum, from liquidity ratios to AMTs and asset encumbrance reports. Of course, banks should expect to face significant operating cost pressures in the short term, but in the medium term, banks could significantly capitalize on a single reporting framework encompassing all the required capabilities. Meet regulatory reporting requirements across the whole balance sheet (Basel III imposes supervision on capital, liquidity and leverage). Defining scalable liquidity programs, enabling the alignment of the bank’s organization and processes to its new business models. Providing the key capabilities required for the pillars of a robust liquidity framework (Strategy, Governance, Processes, Methodology, System and Data, Reporting). If you require advice or further details on any matters referred to, please contact your Accenture representative. The iPhone SE promises an A9 processor with faster LTE and Wi-Fi speeds, better battery life, 4k and 240 fps slow-mo video recording, live photo support, and Apple Pay. The starting price for the 38mm Apple Watch Sport is now $299, down $50 from the introductory price. Apple announced the launch of Carekit, a companion to ResearchKit that allows six partner medical organizations, including John Hopkins University and Stanford Medicine, to create apps to help patients monitor their symptoms and care with their doctor. Apple also gave an update on its goal to run all facilities on 100 percent renewable energy. Operating capital may be limited in the first few years after your launch, so careful budgeting and long range planning will serve your firm well. Governmental oversight of the financial industry has evolved dramatically in the last decade.
Apart from registration, you should also determine if there are any legislative implications for your new firm. Since 2014, cybersecurity preparedness is also a critical area of focus for regulatory bodies.
Cloud services offer more flexibility than traditional infrastructure models and, beyond cost-savings, can reap rewards for new launches. Of course, one of the greatest benefits to using an outsourced cloud service is professional management and monitoring. Beyond infrastructure safeguards, it is critical that firms implement policies and procedures to protect firm and client assets. With offices, colleagues and clients spread across the world, firms need to consolidate data in an organized fashion. As the regulatory environment continues to intensify, RMS has evolved into a vital component in establishing a complete compliance strategy at investment firms. Industry-specific RMS dives deep into the complex layers of investor relations, enabling professionals to monitor interactions, track communications and identify accounts that deserve further attention. Unlike generic solutions, RMS tailor-made for alternative investment firms presents data in an instinctive manner apropos to the industry.
RMS empowers companies to evaluate operations and establish best practices, foster relations, attract investors and fuel returns. Set a Password: When you do not set a password to lock your phone, anyone who obtains possession of the device has instant access to all of your apps that automatically log-in upon launching.
Mobile Security Apps: Looking to the future, we expect the adoption of mobile device security apps that provide anti-virus, privacy and anti-malware protection to increase.
Only Download Apps from Trusted Sources: Research apps before installing them to confirm legitimacy. In conclusion, the use of common sense and security measures can help mitigate the risk to your mobile device’s data.
Back up Your Data Before You Leave: Prior to traveling, back up data that is stored on your device(s) onto media that will not be taken with you on your travels. Protect Devices with Anti-Virus Software: We suggest installing anti-virus software and updating it regularly on your personal computers so that your data is safe no matter where you are. Password Protect Your Device(s): Portable devices are extremely popular targets for criminals because they are small and easy to sell. Remove Saved Passwords on Your Device(s): Although login credentials that are saved for websites may be convenient, it can also leave your personal and confidential business data at risk. Do Not Leave Your Devices Unattended in a Public Place: Leaving your device in plain view increases the risk of your property being stolen. Although we are faced with change on a daily basis, especially in the hedge fund technology industry, keeping pace with ongoing tech metamorphoses does not come easy for everyone. In this article, we’ll examine the recent end-of-life (EOL), of operating system (OS) Windows Server 2003, its resultant challenges and how to overcome them. Windows Server 2003 extended support ended on July 14, 2015; however, not all users have made the transition to Windows Server 2012 R2. The primary influencers are fear and a lack of sense of urgency to replace a still functioning OS. The bottom line is change is inevitable, and eventually 2003 will reach a point where the surrounding ecosystem won’t work with 2003 servers.
To put the preconceived fears to rest, we can assure users there are benefits to the latest Windows update. With that said, aside from upgrading the legacy operating system, hedge funds may want to assess their current and future IT needs.
With today’s intense capital-raising landscape, a tool like this seems like a no-brainer, right? Mass Emailing: Most applications come with mass emailing capabilities, which allow funds to quickly and easily communicate with all investors and potential investors, while also giving investors the immediate information they require. Pipeline Management: Funds can also manage their sales pipeline and create performance estimates, among other things, all from one platform. In today’s marketplace, when competition for investors is more difficult than ever, a CRM might be just the thing an investor is looking for in a fund.
Since you took the time to read this post you're likely actively seeking new ideas for making your hedge fund stand out from the crowd. The threat landscape is continuously progressing and expanding, and its path of destruction has echoed across news headlines. Cyber-Incident Response Team (CIRT)- Ensures immediate action is taken in the aftermath of a security event.
The previously mentioned study found that effective BCP planning can help alleviate both the mean time to identify a breach by twenty-seven percent (27%) and to contain a breach by forty-one percent (41%).
Achieving this balance is an ongoing challenge; however, it also offers firms opportunities for improvement. Managers that strive to enhance offerings consistently to attract principal growth must focus on investors’ needs during product ideation and development.
To meet growing investor demands hedge funds must dig below the surface and provide visibility into both customer and investor relationship data. This all-encompassing perspective, coupled with readily available, accurate information, will help managers identify areas for improvement and eliminate any guesstimates regarding past client activity. Investors’ needs have evolved beyond historical data and records of interactions for performance evaluation and future planning. Efficiently managing all of these areas requires one centralized platform that provides insight into sales and marketing initiatives, capital activity and communication tracking. No amount of communication or reporting will save an underperforming hedge fund from losing investors.
Institutions and high net worth investors do business with people and companies they trust. Often, firms rely on several different tools, loosely cobbled together, for producing investor statements, mailings, K1s, flash returns and other key communications. This challenge is amplified by the fact that the 2008 recession changed investor demands regarding transparency. Alternative investment managers face a real challenge in retaining wary clients who are quick to jump funds when performance, relationships or communication become unsatisfactory. One of the biggest benefits to a private cloud environment is leveraging a provider who understands your business. Why Should I Choose Private Cloud Services Over Free File Sharing Services or Public Cloud Tools? The global evolution of cybercrime continues to push boundaries and raise the bar for technology innovation and advanced security solutions.
The quantity of active mobile connections passed the entire world’s population this past December.
With the internet of things growing every day, we foresee an increase in the number and severity of cybercrime tactics, mobile devices progressively being targeted and new capabilities as well as threats.
Whether you’re in the airport, train or just on the go, keeping that effervescent green light out of the red zone becomes a priority, and most will plug into just about anything. What most users don’t realize are the risks they are exposing their smartphones to by utilizing public charging stations and cords. On the business side of things, those who use a mobile device for work purposes must also consider the risks they are putting their business' critical data at by charging at a public kiosk.
Introducing Ledgex CRM, the revolutionary, stand-alone Client Relationship Management solution launched today by our sister company, Ledgex Systems. The new product offers the sophisticated Client Relationship Management capabilities necessary to raise and retain more assets, maintain and grow clients, provide outstanding client service and meet heightened reporting requirements.
Investor Relationship Management: Comprehensive management of the entire investor relationship lifecycle.
VP: The barriers to entry are harder now compared to three or five years ago due to regulatory and compliance requirements, as well as increased investor due diligence expectations. HFM: Overall, has launching a start-up become easier due to improved access to better technology or has regulatory developments made it more complex? HFM: What role does technology play in powering hedge fund start-ups to compete with established investment firms? VP: Simply, technology is critical to the successful operational management of any fund, start-up or established. HFM: How do cost implications affect a start-up’s ability to gain a high level of protection? As we embark on the New Year, there is no better time to reflect on 2014 and set new goals for the future, both personal and professional. Over the past year, we have witnessed more firms strengthening their security measures in an effort to comply with industry regulations as well as the SEC cybersecurity expectations. At Eze Castle, we recommend that all hedge funds employ multiple layers of security and have a Business Continuity Plan (BCP) in place to help mitigate risk and reduce the level of impact should a disaster strike. In 2005, Eze Castle built and deployed the first hosted cloud platform for a large hedge fund based in New York City in 2005. In 2009, Eze Castle officially launched its Eze Private Cloud, making it a landmark year for the company. In 2011, the Eze Private Cloud expanded its presence overseas to support end users in the UK and further expanded in 2012 to Asia. Since its official launch in 2009, the Eze Private Cloud has evolved into the highest performing cloud platform available and industry standard for hedge fund cloud computing. Today, the platform is powered by state-of-the-art technology from VMware, Cisco, Dell, and NetApp. The metrics highlighted in Basel III documents were supposedly already captured in some form by banks for their risk management purposes; however, they were not reported to supervisory bodies.
In a way, AMTs could be seen as the “side wheels” of the liquidity framework: they are not binding metrics but they will ensure that all potentially useful liquidity data will be collected and immediately available to supervisors. The global mechanism is the same as for LCR, as any mismatches between outflows and inflows is expected to be compensated by a counterbalancing capacity.
European banks which have implemented alternative strategies to keep access to the USD market during the liquidity turmoil will probably have to define new long-term approaches to secure their funding in the key currencies (e.g. They markedly point out the major burden caused by a monthly remittance and the high number of dashboards. How can a bank’s organization effectively integrate liquidity reporting and monitoring for internal and regulatory purposes?
Would the operational process be mutualized with the LCR and Stable Funding reporting streams? How does the bank address the issues around behavioral forecasting, the monthly reporting of a 10 year maturity ladder?
Given the large remaining uncertainties around the AMT framework, banks must adopt a flexible approach to help manage future regulatory amendments.
Fittingly, CEO Tim Cook also discussed security at length – not shying away from concerns resulting from the current fight with the FBI.

The 16GB model, as well as a 64 GB model for $499 go up for pre-order on March 24, 2016, with the first units shipping March 31, 2016. In addition, the screen of the new iPad pro will be 40% less reflective than that of the iPad Air 2, but will be 25% brighter.
The most important development is the introduction of voice dictation support – meaning you can ask Siri to search for a specific movie as well as enter your username and password. Users can record, track, and compare their symptoms with their doctors, and in turn the physicians can create a list of care instructions that are adjusted based on the CareKit information. Currently, 93 percent of its facilities run on renewable power, and 100 percent of US facilities are environmentally friendly.
Don't forget to visit Hedge IT on Thursday as we reveal the last of our key considerations for starting a hedge fund.
Hedge funds, private equity firms and registered investment advisers now operate in a world where they are beholden to regulatory bodies with growing expectations and requirements.
The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, which redefined the registration requirements for hedge funds, also set forth new reporting requirements and standards for safeguards. With the prevalence of cyber threats and attacks, the SEC’s Office of Compliance and Examinations (OCIE) has incorporated cybersecurity into its examination targets. Firms can add users nearly instantly – a welcome benefit for startups looking to ramp up quickly. You can do this by conducting employee awareness training to keep all users informed and educated about the cyber environment and the threats that may arise. Significant benefits offered via RMS have caused a ripple effect of soaring adoption rates across the global investment industry. From meeting and call notes, to audits and analyst reports, the demand for readily accessible information is ever burgeoning. Additionally, RMS helps managers stay on top of priorities and ensure deliverables are met through task management tools.
Customized reports offer real-time insights into a firm’s operations, improving analysis of interactions, portfolios, relationships and pipeline activities.
The multitude of built-in features within a tailored RMS ensure consistency across an organization and provide a leg-up against competing standard solutions.
With over 20 years of sales and sales management experience, Jaime is responsible for leading the company’s business development and marketing initiatives. This is a simple security measure to take and yet, according to Consumer Reports' annual State of the Net Survey, only 36 percent of smartphone owners have a passcode. Keeping your device in a zipped pocket, secure bag or within close proximity to your body helps reduce the risk of losing or having your phone stolen.
Users can do so by checking the app publisher, seller and reviews, as well as comparing the app sponsor’s website with the app store link to confirm consistency. When signing into the app, a map will appear which pinpoints your device’s location and also gives you the options to call, lock and even erase your phone. At Eze Castle Integration we regularly work with hedge funds and investment firms to create mobile security policies that make end-users happy by giving them device-freedom while keeping corporate data safe and secure. For example, on a storage card, cloud, or computer, if you are not bringing the latter device on your trip.
When utilizing public networks, the threat of other users from within or outside your network capturing your login credentials and emails increases drastically. We recommend doing so to prevent unauthorized users from gaining access to your computer’s hard disk and critical business data.
To help mitigate the risk of sensitive data falling into the wrong hands, all devices should be password protected. You should always keep your devices in a secure bag, zipped pocket or within close proximity to your body.
You can also contact your service provider to purchase a global data package while traveling internationally.
Fear, the biggest contributor of hesitancy toward change, masks the opportunities innovation presents. In the case of users still utilizing the legacy application, the risks they face largely outweigh the benefits.
Ultimately, MS will make it so the OS becomes inoperative as the company continues to evolve. With this support, migration is seamless for end users and downtime and data loss is limited with innovative backup solutions. Throughout this OS transition, we’ve experienced numerous clients moving away from their traditional infrastructures and taking the opportunity to adopt a cloud-based solution.
As a result, nearly every hedge fund product is touting its ability to provide greater, faster, better transparency.
As a tool that supports investor relations, a hedge fund CRM gives funds the ability to centralize all of their investor data, including contacts, documents and correspondence while also allowing investors to access fund information at any time, including transaction history, account balance statements and other investment data. The reality is that many firms, particularly smaller ones, think a CRM app is out of their league or unnecessary.
These applications should not create more problems or require more time than employees have to devote. By giving investors easy access to relevant documents and reports, funds can increase confidence and satisfy growing demands.
It can be seen as a true investment in a firm’s business, in its appearance and professionalism. Or, that the consolidated average cost incurred for each record of lost or stolen sensitive and confidential information has increased six percent (6%) since 2013 from $145 to $154? Examples of infamous attacks include Crytolocker, Heartbleed and Internet Explorer’s vulnerability, all of which occurred in April 2014.
Additionally, BCP involvement reduces the per capita cost of a data breach by nine percent (9%).
Hedge funds must be nimble and meet increasing investor and regulatory demands, while remaining cost efficient and advancing operations.
The following are suggested focus areas for hedge funds to differentiate themselves from the competition and attract and retain investors. Aside from exceptional client service, investors expect high performance, availability, transparency and seamless integration with client relationship management data. In other words, they need a bird’s eye view that can be magnified down to every layer, touch point and email. Information is king, and maximizing its value will empower a firm to become consistent in their efforts. Although these reporting aspects are still valuable, suffice to say that paper trails of spreadsheets and multiple back-office systems are a way of the past. Offering a one-stop-shop product not only simplifies customer and investor relationship management, but also enhances the fund’s services. However, those efforts will help fund managers get ahead of investor concerns and proactively address likely questions during periodic performance dips. Creating connections based on trust requires consistent nurturing and visibility into the entire investor relationship – not just a list of contacts and touches. Those tools might include Excel, rudimentary CRM systems, mail merge programs and crude workarounds. In order to appropriately target, retain and upsell investors, firms need insights into each investor’s history and expectations. If a cloud platform is ultimately your preference, however, your decision-making is far from over. Despite the clear advantages of the private cloud, many investment management firms are drawn to the low-cost and high flexibility of a public cloud. While this may be a general concern for all cloud platforms, the fear seems to be greater for public clouds that manage significantly more data. It can mean the difference between success and failure, between making millions of dollars and losing them. Amazon Web Services (AWS Cloud), Google and Microsoft – do they know enough about hedge funds and investment management to make you comfortable with their solution? Most of us have become so accustomed to being plugged in, that we forget the world is simultaneously plugging in to us as well.
Indicating the evolving regulatory landscape, the US Securities and Exchange Commission (SEC)'s Office of Compliance Inspections and Examinations (OCIE) announced back in 2014 that it planned to inspect the cybersecurity preparedness of over 50 registered broker-dealers and investment advisers.
Not only have hackers and their methods grown in sophistication, but they have also reached new corners of the globe, beyond Europe, North America, South America and Asia, to name a few.
From a global perspective, security is no longer just a surface list to check off and file away for archiving's sake. With public smartphone chargers on the rise, this resource seems ideal for the battery conscious user. Confidential information, communications, logins, passwords and financial information could all be compromised. Reporting obligations have grown complex, transparency is in high demand and compliance technology has become a vital component to a firm’s success.
Ledgex CRM is ideal for managing and tracking investor communications, sales pipelines, client relationships and capital movements.
Out of the box, the web-based solution delivers efficiencies, transparency and flexibility without increasing headcount or costs.
Our US pipeline is also quite healthy for 2015 in terms of start-ups, which is a little different to Europe, where there aren’t as many launches.
In the past, due diligence around technology consisted of merely check boxes, to see if a fund had disaster recovery and a compliance system in place. A few years ago, when a start-up was entering the market they often had one person responsible for several functions. Technology is exceptionally important for start-ups because it allows them to compete for institutional investments. You must ensure you have the right technologies and deploy the right policies and procedures. If a fund was to privately build what can be offered on the cloud it can cost up to $500,000 a year. We’ve asked a few of our employees at Eze Castle Integration what their aspirations are for 2015.
A firm’s confidential information, customer trust and overall operations are all at risk of being compromised.
Additionally, we’ve seen an increase in frequency and sophistication of both data theft and cybercrime. While this phrase may work favorably in some cases, there is no margin for gambling when it comes to a firm’s information security. Firms should also ensure information, whether personal or confidential, is protected by internal and external policies.
Firms had to hire multiple third-party vendors to fully outsource their IT needs, public cloud environments fell short of hedge fund security demands and service level contracts varied drastically.
By 2007, 18 funds spun out from the initial firm, each selecting Eze Castle as their trusted cloud platform provider. This new solution provided a fully hosted IT platform for hedge funds and investment firms across the U.S. The following year, the Eze Private Cloud grew more than 300% in number of both clients and users, and today it supports thousands of hedge fund users worldwide. The implementation of AMTs in other jurisdictions will depend on the interpretation by local regulators of the guidelines from the Basel Committee. Supervisory expectations around behavioral assumptions and their applications, as described in May 2013, were uncertain. Other new features include Folders, allowing users to organize apps in the home screen, access to the iCloud Photo Library, and Live Photos.
For example, system safeguards such as data protection, disaster recovery measures and email archiving are requirements under Dodd-Frank. Having released two extensive questionnaires and several risk alerts focused on security, the SEC has made it clear to investment firms that they will be investigating the practices employed at firms and increasing expectations for the future. Startups have a variety of options when it comes to settling on their technology infrastructure.
Users can gain access to email, file services and applications from virtually anywhere, and built-in disaster recovery provides confidence that everything is protected from the inside out.
Users should understand how security threats may present themselves (phishing schemes, social engineering, etc.) as well as how they can become cybersecurity assets to your firm. In this article we’ll examine how adopting a research management solution could benefit your firm.
Storing information within multiple programs and folders not only welcomes disorder and the opportunity for digression in the workplace, but also increases costs and wastes valuable time. Securities and Exchange Commission (SEC) has adopted rules that require firms to document company finances, policies, procedures, etc. These features work in harmony to streamline investor relationship management and accelerate workflows, allowing managers to allocate more time towards nurturing relationships and growing business. Through powerful reporting capabilities, mangers are able to evaluate data at a granular level, make more informed investment decisions and pave the pathway for success. Companies that lack a RMS may be left in the dark of inefficiencies and missed deliverables, which could lead to bigger issues down the road. Prior to joining Ledgex, Jaime was head of global sales for research management software company Code:Red (acquired by FactSet), where he successfully helped grow the business to a global client base and expanded its footprint from Boston to offices in New York, London, Europe and Asia.
From a business use perspective, any device that accesses corporate email or networks should have a complex password and be managed by mobile device management tools such as AirWatch or Good Technology. According to the June 2014 McAfee Labs Threat Report, mobile malware has increased by 167 percent in the past year alone. Furthermore, ensure you do not have social security numbers, passwords, credit card information and other sensitive data stored on your devices. Encrypting your data makes it unreadable and unusable to those lacking the necessary tools to unlock it. If your device is stolen or lost, you should report this immediately to help protect sensitive and confidential information. Fear is what leads to IT limbo, and in an ever-evolving technology landscape, this effect can be crippling. An outdated system will only continue to fall behind in the race of technology, trouble shooting will take longer, future applications will fail to run, or crash the server altogether, and the cost to migrate increases concurrently as the pool of experts shrinks. Benefits of upgrading to Windows Server 2012 R2 include, but are not limited to, enhancements in management, storage, virtualization and security.
Windows Server 2003 also presents the opportunity for financial firms to adopt alternative technology innovations that have risen over the past decade. Transitioning to a private cloud offers firms advanced computing capabilities, practically zero downtown, unlimited resources, increased scalability and the safest, most robust cloud computing option available.
But the truth is that funds of all sizes need an efficient system for managing their contacts, prospects and clients. When it all boils down, operating with a hedge fund CRM (think Ledgex CRM!) and eliminating disorganized spreadsheets and Word documents could be what sets your firm apart from the rest. A recent study of 350 companies spanning 11 countries reported the aforementioned statistics, representing a twenty-three percent (23%) increase in data breach consolidated costs. Hedge fund cybersecurity serves as the shield to a firm’s sensitive data and systems, helping to protect business critical information from potential breaches and attacks. Aside from monetary impact, most companies experience negative opportunity costs subsequent to an attack, which derive from damaged reputations and weakened trust of current and prospective clients. To foster and sustain these relationships, it’s vital that managers and investors reach equilibrium in regards to their interests and expectations.
Hedge funds that invest in building bespoke solutions suitable for investor operations will meet expectancies better while increasing efficiencies and reducing the risk of underperformance.

Furthermore, funds will be able to nurture investor relations more effectively; rather, than acting on a whim when addressing investor questions and strategizing future business objectives. Some firms utilize multiple platforms and resources to manage customer relations, mailings, portfolios and the like, which can lead to increased headcount, cost and time. Brian is the principal architect and product visionary of the Ledgex platform, and he is responsible for leading the company’s engineering, support and client service teams.
They need to track communications, client relationships and capital movements in order to raise and retain assets, while providing exceptional client service and exceeding reporting requirements – all without increasing headcount or operational overhead. Unlike in other industries where standard customer relationship management (CRM) solutions can deliver reports based mainly on historical interactions, hedge funds, fund of funds, family offices and other financial institutions need the capability to layer typical CRM data on top of investor relationship data. The disparate nature of these tools can cause serious communication lapses when it becomes difficult for a fund manager to see, for example, that investor A wants hard copy documents delivered to his vacation home in Florida October through May, and investor B spends a month skiing in Colorado every winter, where he also expects to receive mailings without interruption. In some cases, investors want 10 times the reporting they expected before 2008, and it has now become the norm for these clients to demand separately managed accounts rather than pooled vehicles.
Smaller firms have fewer variables to juggle but also fewer resources for improving manual or unsophisticated processes, and larger institutions have more complex needs and challenges, which are also more complicated to solve.
While this type of infrastructure may suit a variety of other verticals, financial services firms have high standards and require a level of service and infrastructure beyond what public cloud platforms can offer. Security breaches and attacks are seemingly occurring on a daily basis, and hackers have become savvier than ever. Additionally, even firms that leverage outsourced cloud solutions want control over their data, so understanding where data resides is a large concern. Ensure your cloud provider offers a competitive Service Level Agreement (SLA) and clearly identifies what is expected in terms of availability and downtime. You should also consider if vertical-specific applications can be easily integrated into a public cloud environment. In 2015, their examinations will continue across the financial services industry, and firms are locking down security practices in advance of these inquiries. According to a recent report conducted this past December, there are 3.025 billion active Internet users around the globe and growing.
Building strong foundations upon robust security policies, processes and controls should be a focal point at the core of any firm’s operations, start-up or established.
The moment your phone is plugged in, it will try to synchronize with whatever charging device it is connected to.
As businesses increasingly move away from the desktop, companies should consider educating employees on various risks and implementing BYOD security policies, for example, Mobile Device Management (MDM), Mobile Device Support, Data, Loss and Theft policies, in addition to, other safeguards regarding company-issued devices. With various demands tug-o-warring hedge fund managers in multiple directions, a Client Relationship Management (CRM) platform could be the solution your financial firm has been searching for. The highly configurable, centralized platform is tailor-made for hedge funds, family offices and asset allocators. By streamlining investor relationship management and capital activity, Ledgex CRM enables managers to optimize their time and focus on fostering relations and growing business.
Account owners may also employ stronger security measures by restricting account access through user permissioning. In terms of overall US business, 50% of the clients we brought on in 2014 were start-ups; this is up from 40% in 2013. Today, the chief operating officer (COO) might also be the chief compliance officer (CCO), but they are now utilizing all the tools that are out there to support their operations and workflows. At the same time, there are now more technologies out there that make it easier for start-ups to manage a fund and the different operational needs required of the fund.
In terms of cyber security there are many third-party firms out there that can help protect your fund as well as mobility tools.
We even take it a step further by partnering with eSentire, which specializes in cyber security. By deploying storage area networks, bringing in high-end firewalls and hiring third party security systems, a firm can really succeed operationally.
To protect their data and systems from cyber-attacks and breaches, it is critical that firms become as secure as possible. A study by Risk Based Security revealed that within the first nine months of 2014 there were 1,922 data breaches reported and 904 million records exposed. Target groups do vary and victims range from big merchants and high-end retailers to public figures and common folk, but hedge funds remain a high profile target. Fast-forward to today, and that very same spark of ideation has progressed to completely revolutionize hedge fund IT. Combining a high performance, fully redundant infrastructure with the industry's best IT experts enabled the company to manage over 30 applications within the Eze Private Cloud by 2010.
This year, Eze Castle released the next generation of its cloud-based voice solution, Eze Voice.
For instance, in the US, the Federal Reserve Board issued in October 2013 a consultative document about Liquidity Coverage Ratio (LCR), but has not yet addressed the topic of monitoring tools. Does the bank have time to acquire and integrate an external provider or to develop an internal solution?
Regardless of the assets your firm is launching with, you will be expected to have sophisticated and comprehensive policies and procedures in place from day one to combat cyber threats. With the birth of cloud technology, firms can save on upfront capital expenditures and host their infrastructure in the cloud – providing flexibility within those startup budgets. A reputable cloud services provider not only provides world-class infrastructure and resiliency; it also assumes responsibility for the management and daily maintenance of your cloud environment. Investors also have high expectations, and before they will even consider allocating money to your firm, they want to understand what protections you’ve put in place to protect their assets.
This prehistoric method of aggregating data has been replaced with advanced RMS, a much more viable, flexible and comprehensive solution.
RMS enables managers to easily search the repository and export queried data with just a few clicks of a mouse.
Additionally, firms may be overlooked by potential investors due to a deficiency of RMS adoption when compared to software equipped third-party providers. Jaime attended Syracuse University where he earned a BS in Business Administration with a minor in Economics.
Companies such as AirWatch aim to ensure your enterprise mobility deployment is secure and corporate information is protected with end-to-end security.
If you do, save this information in a more secure place and remove it from your portable devices.
We recommend using a combination of upper and lowercase letters, numbers and special characters. Additionally, corporate devices should have the ability to be remotely wiped to safeguard confidential data or networks from unwarranted access. However, with the support of expert IT service providers, the pains and fears of migrations and upgrades are alleviated.
As patches and bug fixes are no longer being provided, hackers have an unguarded entrance to access a firm’s sensitive information, passwords and banking accounts. Additionally, the updated OS offers a 64-bit architecture, which is faster and more efficient than a 32-bit computer.
Microsoft Outlook, which lends to more flexibility and less time and money spent on coordination between multiple applications. Other factors found to significantly lower the ensuing costs of a successful attack are existing incident response teams, employee training and extensive utilization of encryption.
Prior to Ledgex Systems, Brian was a director within the Eze Castle Integration Professional Services Group, where he led large-scale custom application development projects for some of the largest hedge funds and fund of funds in the country.
When information about how the investor’s balance today relates to past performance is readily available and integrated with customer relationship management data, financial firms can better manage expectations and investor reactions. Failure to meet those expectations is one of the primary reasons why investors drop their funds.
At both ends of the spectrum and everywhere in between, hedge fund managers need to be able to report information to investors in a repeatable, automated and tailored manner.
With all of that data streamlined in one resource, hedge funds can more efficiently address mandates for accountability, transparency and reporting, and avoid the top triggers for investor flight. Trading via the public cloud can pose a host of challenges and concerns - let's look at a few.
Unfortunately, public clouds have made headlines in recent years for encountering downtime, so this factor is critical to firms looking to evaluate providers.
Depending on your firm’s strategy, you may require advanced order management or portfolio management solutions, which may not integrate well onto public cloud platforms.
Additionally, in Asia, the Singapore Personal Data Protection Act governs the collection, use, and disclosure of personal data. Despite the variance of currencies and languages from one country to the next, information remains king and is critical to protect.
Plugging into one of these USB ports could lead to cyber criminals collecting your personal information, including banking, browsing history and purchasing patterns. Addressing these areas in your firm's BYOD strategy will help ensure your hedge fund is protected from potential security incidents. There are several factors that have contributed to this, some that we cannot control, such as how the wider market performs.
Those conducting due diligence are much more educated on technology and the various solutions out there and are asking deeper questions.
Another operational priority is to have a processor round to conduct clear due diligence concerning the firm’s investment in compliance, disaster recover, written information security and managing all of their vendors and partners (including prime brokers, order management systems and client relation management tools). Five years ago deploying an order management system was very costly and you could spend thousands of dollars in server software, while the deployment time was often several weeks. The world has changed quite a bit over the course of the last five years and access to information is now vital for funds that are trading and making decisions on the go.
By using a private cloud provider, funds are able to offer scalability on a per user, per month basis.
Four of those incidents have made the Top Ten All time Breach List and three hacking incidents combined were accountable for nearly sixty percent of exposed records.
A survey by the Ponemon Institute reported that in 2014 the annual average cost of successful cyber-attacks per company in financial services is $20.8 million. And it was unclear how the regulatory bodies plan would have handled situation(s) where a forecast from a given bank deviates markedly from the general consensus. Be sure to enable your firm’s processes to comply with SEC recommendations including risk assessments, infrastructure practices, policy documentation, etc.
With hackers savvier than ever and financial firms as known targets, it’s critical that firms establish a comprehensive approach to security to not only meet investor and regulatory demands but also to protect firm assets and mitigate business risk. Hosting a firm’s data within a user-friendly, central repository simplifies processes, optimizes productivity and uncovers new business opportunities.
Enhancing the efficacy of the due diligence process, a robust RMS will manage, amass and report on both quantitative and qualitative due diligence data.
When it comes to the future of your firm, driving growth and expansion through the measureable benefits of a research management platform drastically outweigh the costs of missed opportunities. Also, business devices should have the capability to be remotely wiped to ensure confidential data or network access does not fall into the wrong hands.
This not only increases the firm’s odds of being hacked, but also raises the gravity of ensuing damages should an incident occur.
As cybercrime grows in sophistication and frequency, it is critical that hedge fund security measures and education concurrently advance and fortify.
Proactive firms with strong cybersecurity measures in place reduce the opportunity for an attack, as well as, the severity of impact should an incident occur.
Firms have to solve this delivery mechanism problem if they are to avoid losing investors over a perceived lack of communication. While these public cloud services are surely beefing up security and have billions of dollars’ worth of resources to dedicate to security planning, it remains to be seen if they can sustain a targeted attack or significant downtime. When trading, proximity plays an important role in determining how many microseconds it takes to complete a trade, and understanding where your firm’s data resides in the cloud is imperative. Hedge fund private cloud providers, however, can easily integrate all your firm’s applications onto one platform and ensure seamless communication between them. It is extremely valuable to have a global knowledge of information security policies as firms expand their business operations and client bases around the world. They are also more familiar with solutions like the private cloud and they want to understand all the facets of technology, such as, what’s being outsourced and to whom.
In addition, unlike years ago when people had servers in their office and disaster recovery in another location, when the location of data was easier to understand, with the advent of cloud technology, a top priority now is understanding where their data is and what is the most important data to them.
Now you can deploy the same system in a few days and readily obtain the processing power in the private cloud with the redundancies built in on day one, all at a much lower cost. The mobility tools in the marketplace have only made it easier for funds to react quickly to these changing conditions. In this way a start-up fund is able to protect their fund as much as is reasonably possible.
They could boast all the same features, redundancies and protections a an on-site infrastructure, but in a much more cost-effective manner. Today, most hedge funds are aware of the severe negative effects a security breach can cause; however, gaining this knowledge may have been a tough lesson to learn. If not forthcoming, you may open up your firm to serious regulatory and criminal prosecution. Your cloud services provider should act as your trusted technology adviser and, as such, give you the flexibility and time you need to focus on your investment priorities without worrying about security updates and patch controls. The issue this latter factor presents is there is no method for directly upgrading operating systems from a 32 bit.
The reality is we must grapple with cybersecurity and focus on implementing an all-encompassing strategy to prevent, detect and respond to incidents.
How criminals utilize this data ranges from targeting personalized advertisements to spying and identity theft. We were extremely involved in that process of launching each of the start-ups we brought on in 2014. While both options present benefits, the latter assimilates seamlessly with an investment firm’s daily workflows, terminology and diverse range of data.
Unless, you have an IT provider to manage a side by side migration technique for transferring applications and services to the new OS. The Securities and Exchange Commission in the US has taken a strong look at cyber security this past year.
This helps them make the right decision at those early critical points, like picking the right technology platform from the start. An ideal RMS will also offer customization, accessibility and integrate with other applications, such as Outlook. In the same location, you can also set your device to erase all data after 10 failed passcode attempts. These forces have created the need for better due diligence questionnaire (DDQ) processes, as well as better education and awareness to potential investors regarding technology and security systems. It’s vital not to take shortcuts from day one because it makes it harder to make the necessary process changes later on. From a business perspective, any device that accesses corporate email or networks should have a complex password and be managed by mobile device management tools.
The other advantage of the cloud is it allows firms to layer on tools as their assets grow.

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