CLEAR™ 360 - Achieve Trade Compliance Throughout the Life Cycle of Each Trade
Although Portfolio Managers and Traders typically sign-off on the compliance rules before they are implemented as part of an automated trading compliance system - subsequent changes over time can set off compliance alerts that are false positives, or don't make sense to the front office.
IMP Consulting's CLEAR 360 balances the needs of both the front office and compliance to ensure that the compliance function runs on every order, while only legitimate compliance issues are brought to the Portfolio Manager's attention.
Our 360 degree view of the trade life cycle, combined with our direct experience in compliance rule coding and testing, ensures that alerts are written in a clear and precise language that the front office understands, and they only inhibit a trade when there is a true risk or violation.
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- Enhance processes and tighten controls
- Ensure rules are accurately coded in line with the most up-to-date mandates and regulation
- Eliminate outdated and duplicate rules
- Minimize “noise” and “false positives”
- Implement smoother system upgrades
- Improve risk management and adherence to compliance best practices
Compliance Case Studies:
- Compliance Rule Library Analysis - risk of future trade errors mitigated with the resolution of a significant amount of misconfigured rules.
- Best-Practices Testing Solution for Compliance Rule Library - client empowered with custom query tool to conduct ongoing testing ensuring maximization of its system going forward.
Now you can access a set of on-demand reports highlighting missing rules, missing accounts or account groups, missing rule assignments, or variances in end-of-day compliance results.
CLEAR™ Recon is a repeatable process that takes the human error component out of compliance reconciliation; reduces the risk of trade errors; and replaces a time-consuming manual process.
CLEAR™ Recon's automated process helps to address challenges including:
- System Consolidation: Reconcile the account, rule, and rule assignments from the legacy system to the new system during an OMS or System Compliance Conversion.
- Rule Mapping: Map and track rules across different systems, with varying levels of functionality.
- Post-trade Compliance: Reconcile what the custodian/fund administrator is providing versus your internal system.
- CBOR View: Access a centralized view of all OMS/Compliance systems in production and their systems mappings. Maintain a central repository that stores the "book of record" of accounts, rules, and rule assignments for compliance.
- Mergers and acquisitions: Analyze, map and merge compliance systems.
Who Moved My Rules? A CLEAR Recon Case Study
One of the fundamental challenges of converting an investment compliance system is keeping track of hundreds or thousands of rules as they’re moved from one system to another. If you’re in compliance, chances are, you’ve seen (or been), the expert compliance guru who will try to keep track of all of the moving pieces in an Excel spreadsheet.
Excel may work okay on smaller projects, but as the number of rules grows, it becomes much more challenging and risky. And, what about tracking the account assignments on those rules? You can have the right rules set up on the new system, but they’re useless if they’re not attached to the correct accounts.
Is your front office wasting time reading and clicking through countless false positive rule violations instead of executing on their investments?
CLEAR™ On-Demand corrects faulty rule violations, fast. This cost efficient support service pinpoints and solves high priority issues in your Compliance System’s rules library. Whether you have 1 noisy rule or 10,000, IMP’s team of compliance experts can help with compliance rule analysis, coding, use case testing, and deployment in your trade order management system.
Submit the form below with your phone or email address to scope out rules that are potentially impacting your trade compliance workflow.
Unmatched Expertise in Regulatory Requirements & Compliance Systems
IMP's team of former CCOs and compliance professionals understand the regulatory requirements governing the different investment vehicles. They can provide a third party review and analysis of prospectuses, SAIs, client agreements, 2a-7, IRC, 1940 Act rules and ERISA rules and accurately translate them into code across all of the market leading compliance systems including:
- Charles River Development Investment Management System (CRIMS)™
- Fidessa Sentinel© (part of the Capstone suite of products)
- Linedata Services, Linedata Compliance (LDC)
- Blackrock Solutions Aladdin© Compliance module
Learn which CLEAR™ option is right for you
Complete the form on our Contact page to receive more information about CLEAR™ or request a free compliance assessment.