A centralised data management platform, however, generates reports from a central data store or a “single version of the truth.” Thus, over time, the asset manager can achieve consistent, reliable, trusted reporting across the organisation. The middle office also needs to make sure all users and potential users of the data understand the current state and the future road map of the data. Or, from another perspective, it’s a great time to be an outsourcing provider to the buy side, John says. Once a data management platform is in place, upgrading or changing systems becomes much easier. The range of data available, and the frequency of update and maintenance, is configurable. Given these aggravations, it comes as no surprise that business users often resort to maintaining their own separate data stores. Let's Get Started. The new middle office governs the data used by the organisation and restores business user trust in that data. From MiFID II to SEC Modernization, we can help you design a comprehensive oversight program to monitor, report and provide end-to-end audit trails using accurate real-time data. The data management platform becomes the central data repository for the organisation. In this paper, we consider the above factors, how they are influencing the new middle office and attempt to answer the following questions: Suboptimal and potentially dangerous data practices, Data is the lifeblood of all investment management firms. In the SEI paper, “The Upside of Disruption,” we explored the idea of “Watsonisation” and how cognitive computing is transforming how things are discovered, interpreted, decided and accomplished and its potential impact on the investment management industry.5 By leveraging cognitive technologies, such as IBM’s Watson or Microsoft Azure’s Cognitive Services platform, asset managers can establish a competitive edge, even as alpha becomes more elusive. At Empaxis, we understand the challenges businesses face reconciling portfolios — and we’re here to do the heavy lifting for you. Whether you need support for equity, fixed income, or multi-asset attribution, we’ll empower your organization with the tools they need to make informed investment decisions. If a vendor is lost, there is no need to initiate a project to extract all the historical data from that vendor’s system and remap it to the replacement application. Relying on business users to maintain stand-alone spreadsheets and databases makes a bad problem worse, and can be detrimental to the health of an organisation. With required data fully defined and populated in the data management platform, the need for the report customisation is minimised. Implementing the new middle office can be challenging, but the improved tools, insight and productivity that accompany it bring tangible benefits, including greater operational efficiency, improved transparency, and reduced business and investment risk. The middle office is the department in a financial services company, investment bank, or hedge fund that sits in between the front and back office. While consensus is building that the middle office is largely an untapped source of value, it’s often viewed as a cost centre supporting mundane, ancillary activities, sandwiched between its more important counterparts.2. Oaks, PA 19456 USA Unfortunately this position has been closed but you can search our 270 open jobs by clicking here. While the traditional middle office may be described as mundane, its next evolution is anything but. Indeck Energy, a leader in the development and operation of renewable and conventional power generation, is looking for an Asset Manager to join its Buffalo Grove, IL-based Asset Management team. How can we better use the data that is at the core of the new middle office? Common concerns include: 1. In contrast, middle-office functions can be nebulous and hard to pin down, making it particularly challenging to put effective systems and processes in place.3. While the front and back offices are important users of, and/or contributors to data, the guardian of the organisation’s biggest asset lies squarely in the middle office. When a platform uses a few different systems, firms can swap out components, as they get stale or too costly and can create different business workflows between components to support different use cases. The value proposition to the manager is significant. MIDDLE OFFICE - ASSET MANAGEMENT. Countries used these two metals when trading with other nations. New York, The related analysis conducted by asset managers generates large amounts of unstructured data, (eg, documents, PDFs, graphs, etc. Business users are understandably frustrated. As an EDM Council authorized partner, we have a unique view of industry practices and can leverage this perspective and experience to lead your program from strategy through implementation. Discuss the revaluation of bank assets and liabilities, including … Due to perceived security and regulatory risks and lack of a compelling economic rationale, many banking and other financial institutions historically have not embraced public cloud services provided by firms such as Amazon Web Services and Microsoft Azure. Some service providers will even create client-specific data stores where the manager has direct read/write access to database and has the ability to extend the data set.6 An arrangement like this opens many avenues to a technically savvy manager while providing full transparency and portability of the firm’s data, even though the data store itself is not physically located at the manager’s site. With our middle office automation solutions, we provide middle office transformation for asset management firms by delivering effective customer management ... Domain expertise in middle office functions such as risk management, compliance etc. With technology to power a transparent flow of data throughout the post-trade lifecycle, you’ll mitigate your settlement risk and benefit from better oversight, improved communications, and quicker processing. By providing the reporting and visualisation toolkits that business users are already employing, the new middle office offers a solution in an enterprise-supported secure framework that ensures consistency and governance of the end results. This model inevitably leads to the implementation of multiple reporting tools, each based on its own underlying application. The new middle office is changing that, and the benefit of the new data management model has the potential to increase exponentially as cognitive learning technologies mature and gain further use in risk management and operational optimisation. Asset Management, Gwm-middle Office Manager Resume Examples & Samples Staff management with project and problem analysis, effective communication with management onsite and in other locations Represent the team(s) at various senior forums, locally and internationally In some cases, even the investment accounting function of an asset manager or service provider may be leveraging an application that was built for back-office (fund accounting) purposes. The result is that different report sets are generated and delivered using disparate presentation approaches which results in varying interpretations of the same underlying data. Privacy Statement | Terms of Use | Terms of Use Keeping up with evolving client demand is critical to business growth, but legacy IT and operations are holding you back. The service providers that are introducing such client-configurable data management platforms should support the entire data management platform rather than just a single set of data (ie, positional data but not transactional data), a certain period of time (ie, current year but without historical data) or a portion of the client’s book of business (ie, Private Equity data but not the separate account data) – ensuring consistency and efficiency of the final solution. While the front and back offices of asset management firms receive the lion’s share of attention and investments, the middle office is often left to fall into rack and ruin. 1 “Evolving in the New Operational Frontier,” SEI, December 2014. The successful candidate will possess strong management ski 4  Jaikumar Vijayan, “Solving the Unstructured Data Challenge,” CIO from IDG, 25 June 2015. Upper Hatch Street, But the days when operating systems were considered just the plumbing behind the real business of asset management are long gone. Morgan McKinley. Each of these barriers prevents the firm from being able to maximise the value of its data. Y ou might be familiar with the “Middle Child Syndrome” concept: While the privileged first-born and over … The new middle-office model, however, can insulate the manager from vendor risk. This is easier said than done. CACEIS offers asset managers and institutional clients access to high-quality, industrialised, yet flexible solutions to best suit your specific requirements providing you with a significant degree of comfort, security and cost optimisation. How do investment firms break free of this model? Are regulatory requirements keeping you up at night? Drawing upon decades of in-depth middle office experience, we’ll help you tackle operational challenges and fuel future growth with proven technology. Apply to Vice President, Operations Representative, Community Service Officer and more! CHICAGO – Northern Trust (Nasdaq: NTRS) has been selected by Strategic Global Advisors, LLC., a woman- and employee-owned institutional asset management firm headquartered in Newport Beach, California, to provide middle office outsourcing and outsourced foreign exchange dealing through its Complete FX™ service. Learn how SWIB envisioned and achieved its future state goals. There is cost savings as the result of reduced support and maintenance and, importantly, this approach provides data consistency. The front office can use a data management platform to visualise data in ways not supported by traditional front-office applications. More information. The data management platform provides one-stop shopping and supports all reporting needs, using the manager’s preferred reporting/data visualisation tool. 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