The burden of increased fund regulation falls heavily on Fund Administrators.
As regulations on mutual funds become increasingly onerous so the demands on Fund Administrators rise exponentially:
- Valuations: ensuring that valuations meet regulatory requirements is especially challenging in a world where investments are increasingly complex and hard to value
- Reporting: regulators require more information to be disclosed to shareholders, fund directors and the regulator themselves
- AML: the Fund Administrator is expected to undertake increasing amounts of onerous AML checking, monitoring, reporting and training
GRC-Maestro can be used as a quick and efficient GRC solution for Fund Administrators to meet their legal and regulatory requirements.
As the number of Funds increases globally the need to administer these funds in a fully compliant but cost efficient manner has never been greater, including:
- Propsectus compliance: ensuring that the contractual obligations set out in the fund prospectus have been adhered to by the Investment Manager and the Fund Administrator.
- Unquoted/Illiquid securities: ensuring that securities that are illiquid or unquoted are fairly and consistently valued
- Reconciliations: checking that all broker, custodian, bank and investment managers statements are reconciled, recorded and discrepancies identified and resolved
- Director Reporting: providing the Fund Directors with the periodic information they require to manage the Fund and flag exceptions for them as required.
GRC-Maestro offers Fund Administrators the ability to implement GRC controls to meet the AML requirements in multiple jurisdictions, included risk based enhanced monitoring.