Implement of Fund Administration Digitalization (FAD) for Custodian Bank

Custodian Bank

Fund Administration Digitalization (FAD)

Client:

The largest custodian bank in the world, client provide custodian services (safekeeping, corporate actions) fund accounting (pricing and valuation), and administration (financial reporting, tax, compliance, and legal) services.

Business Requirements:

FAD is begin implemented on clint enterprise serving platform and its next generation portal platform to support full range of

Upcoming regulatory needs, identification of preferred upstream process changes, and creation of target state architecture.

Could deliver the required technology to satisfy new N-PORT and NCEN requirements and position. Fund Administration for further digitization opportunities.

Elimination of manual interventions associated with the Financial Reporting process and/or anticipated to support SEC modernization related services

The ability to file new regularity report on behalf of our clients within certain deadline.

Identification of trusted sources of data to eliminates downstream re-works.

Enhance Client interaction model and technology to allow for them to update data necessary for NPORT and to provide them with better oversight capabilities.

Scope of Services:

1.

Documentation of data requirements to satisfy upcoming regulatory needs, identification of preferred upstream process changes, and creation of target state architecture.

2.

Utilize Agile to Deliver the required technology to satisfy new N-PORT and. NCEN requirement for FAD

3.

Acquire and transform data of Portfolio, Security Master, Open FX, General Ledger, Capstock, Performance, Capital Stock, Line of Credit, repurchase agreement collateral, Position, Client System, Tax Lot, and Transaction to support N-PORT, N-CEN.

4.

Design and Develop Data warehouse for N-PORT and N-CEN Report modernization.

5.

Creation of Review and support report for internal and external users

6.

Design and implemented UI to support more complex transformations of portfolio, security master, position, transaction data.

7.

Created User Notification of Data Loads and for area that need attention for NPORT such as Data Changes, Missing Data, and Threshold Breaks.

Project Related Issues:

1.

Technical challenges to acquire Broker Filing data from SEC filings that are available to public by subscribing to RSS feeds

2.

RSS Feed subscribed from SEC.GOV in different XML format and inconsistent file header.

Results:

Modernize Reporting Infrastructure
Decrease SEC Filing time from 60 to 30 days
Operational Stability