pControl Oversight

 

pControl Oversight provides assurance for organizations that outsource their fund accounting or investment operations, with the added protection of insurance against multi-day service provider outages via the Backup NAV feature.

pControl Oversight is purpose built to meet the needs of global asset management companies, registered investment companies and fund product providers to ensure independent verification of NAV accuracy to mitigate reputational, financial and regulatory risk. 

Operational benefits unique to NAV Oversight

  • True and independent verification of NAV accuracy through the application of an Expected NAV for comparison to the Actual NAV and is equally applicable to outsourced portfolios and non-unitized asset pools.
  • Industry standard NAV validations and data controls over the outsourced service providers Actual NAV results to demonstrate best practice that is repeatable and audit-able for regulators and stakeholders alike.
  • Fully integrated Backup NAV capability. 
  • Straight-through processing eliminates time consuming manual activities, particularly where authorizations are required to meet operational deadlines.
  • Reduced technology and business operational staffing requirements through fully hosted technology using secure environments, with managed operational service to monitor business processing and data arrival.
  • Integrates with market data services to deliver security prices, benchmarks, exchange rates and corporate actions.

Milestone Group's proprietary NAV Protect methodology supports the calculation of an Expected NAV over a multi-day outage period using the last known good valuation, delivering a contingent Backup NAV to be used for valuation and trading purposes by transfer agencies and distributors. .

NAV Protect methodology is designed for:

  • Accurate calculation over multiple outage days
  • No reliance on shadow accounting processes
  • Simple reconciliation to Actual NAV upon service provider becoming available. 

Operational benefits unique to Backup NAV 

  • Designed to eliminate the effort and cost associated with duplicate ‘books and records’ or shadow accounting strategies.
  • Upon service provider outage, no ‘cold start’ delay or effort impact of fail-over to Backup NAV release.
  • Designed to be maintained and invoked within an existing oversight teams’ capacity.
  • Alternate source data paths to eliminate critical dependencies upon the outsourced Fund Accounting providers operations during outage periods.
  • Straight-through processing eliminates time consuming manual activities, particularly where authorisations are required to meet operational deadlines.
  • Reduced technology and business operational staffing requirements through fully hosted technology using secure environments, with managed operational service to monitor business processing and data arrival.
  • Integrates with market data services to deliver security prices, benchmarks, exchange rates and corporate actions.
Product and service specifications
Database
• DB2
• MS SQL Server
• Oracle
• Sybase
Language used
• Java
Operating system
• N/A
Pricing structure
• N/A
User interface
• N/A
Tags:
NAV Oversight, Outsourced, fund accounting, Reconciliation, Case Management, Fund Analytics.

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