Break reconciliation and resolution across CLOs and SMAs

  • 50,000

    priority accounting breaks resolved

  • 40%

    client bandwidth saving

  • 15

    domain experts with experience in CLOs, SMAs, and other asset classes

CLIENT CHALLENGES
  • Client: Managing Director, US-based alternative investment manager (AIM)
  • Business objective: The AIM manages a multi-billion-dollar CLO portfolio. The client wanted to migrate its CLO portfolio data to a new platform after data reconciliation and cleansing its legacy systems. The requirement was to resolve 75k accounting breaks across multiple platforms and provide clean data for the data migration
OUR APPROACH
  • Quickly deployed a team of 15 domain experts with experience in CLOs, SMAs, and other asset classes
  • The team was experienced in maintenance of and updating applications, including Geneva, ClearPar and MarkIT
  • Implemented an in-house training session and supplemented it with knowledge transfer from the client
  • Resolved breaks, which involved reclassification of trade fees, commitment fee breaks, historical par mismatches, non-pro-rata paydowns, missing deal notices and withholding tax
  • Coordinated with trustees, loan settlements, agent banks, deal analysts and the client to resolve the accounting breaks
  • Third-party tools
    • Geneva
    • ClearPar
    • MarkIT
IMPACT DELIVERED
  • Out of overall 75k accounting breaks, resolved 25k priority accounting breaks in 4 months
  • Freed up the client team’s bandwidth to focus on real-time breaks instead of focusing on historical items
  • Quality and timeliness of the break resolution were in line with client expectations
  • Ability to provide domain experts at short notice helped the client migrate the data to the new platform
Download as PDF
Thank you for sharing your details

Your file will start downloading automatically

If it does not download within 1 minute,

Share this on