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. Probity Asset Services is a disruptor in the post-trade services industry, combining the full spectrum of front, middle and back office intellectual capabilities with best in class IT. This approach allows the manager to choose a tool that meets their specific needs or a tool that already has an established presence within their firm. If the business users do not trust the quality of the data and, in turn, the systems presenting that data, they will not use those systems or the outputs of those systems; instead, they will create their own work-arounds and subsystems. We’ll help you accurately calculate your returns, performance attribution, composites, and risk by identifying and evaluating the performance measurement systems best suited to your unique investment and analysis strategy. There are nevertheless several additional benefits that are worth highlighting. To complete the picture, service providers can provide standard, client-configurable data visualisation and reporting packages that sit on top of an asset manager’s proprietary data store/warehouse. We’ll help you design and implement the systems architecture designed to capture intraday positions across asset classes with a golden copy record of your data. Our consultants can help you assess your post-trade alternatives and design a seamless, exception-based, end-to-end solution to address your trade confirmation and settlement challenges. Tel: 353 1 638 2400, SEI Investment Manager Services, 3. This model inevitably leads to the implementation of multiple reporting tools, each based on its own underlying application. If your team is running on an outdated investment accounting system, you’re putting your operations at risk. Taking a more modular approach to building a middle-office services platform allows asset managers to be more flexible over time. The fact is, a considerable number of vendor applications and service provider solutions already are supported under an application service provider (ASP) framework that is essentially using cloud-based storage at some level. The most common example is business users running readily downloadable Business Intelligence (BI) tools, such as Tableau or QlikView, against their personally maintained Excel spreadsheets or SQL Server databases and analytical tools. As you look for ways to streamline your investment operations, contain costs and reduce risk, let our Investment Operations Outsourcing team help manage your back- and middle-office functions. This data can now also be routed to the service provider’s data management platform. 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. 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. Tel: 610 676 1270, 777 Third Ave, 26th Floor, Because individual vendor applications provide unique functionality as well as support for associated reporting, clients are increasingly dependent upon the individual applications that support their best-of-breed application model. Are regulatory requirements keeping you up at night? There is cost savings as the result of reduced support and maintenance and, importantly, this approach provides data consistency. 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. The data management platform becomes the central data repository for the organisation. The Middle Office team has responsibility for all processes relating to middle office services, act in partnership with HPWS PIM ICs and their CRM’s 3-5 years of experience in the brokerage or asset management industry Post-secondary degree in Finance or Accounting or accounting designation or equivalent experience 4  Jaikumar Vijayan, “Solving the Unstructured Data Challenge,” CIO from IDG, 25 June 2015. In the new enterprise data management platform where all of the data needs to be presented, a robust reporting and visualisation tool is essential. However, DaaS, as delivered by service providers, offer a one-stop shop for asset managers who may pick and choose components to add onto their current in-house platform. The impact – and risk – should not be underestimated. 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. IDC has estimated that such unstructured content already accounts for an astounding 90 per cent of all digital data, much of which is held across a variety of different data stores, in different locations and in varying formats.4 The data management platform of the new middle office will be designed to support unstructured data. Our operating model is global, ensuring scalability and optimal cost-efficiency. We can help you transform your technology with a multi-currency accounting solution customized to support your unique needs—from fixed income to collateralized obligations to swaps. Asset managers are looking for competitive advantages wherever possible, and it is in this context that the new middle office is stepping out from the shadows to assume the role of guardian of a firm’s most valuable asset: data. 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. Even if there were a single middle-office system, a firm probably wouldn’t want it. The new middle-office model, however, can insulate the manager from vendor risk. "The middle office is comprised of all the people in the business divisions that directly support the front office," says one senior banker. During this period the term middle office was used to refer to those employees working in financial institutions whose primary role was to calculate the profits and losses realised after trading. 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. To gain an advantage in today’s hyper-competitive world, asset managers must not only evolve their operations, but they must also discover new ways to leverage them. Dublin 2, Ireland You need a robust collateral management solution to reduce counterparty risk and empower your front office with accurate investment data. The concept of centralised data stores is not new, but traditionally they have been fed from multiple application sources, making it challenging to maintain data consistently. In the previous section, we highlighted the inefficiencies associated with multiple reporting tools running against siloed applications in the traditional application-based operational model. Alphabeta, 14-18 Finsbury Square, 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. While the base suite of reports and visualisations can be seen as “standard,” the latest tools are highly configurable. As lines blur between your front, middle, and back office, integrated data, accurate accounting, and efficient workflows are more important than ever. 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. For asset and wealth managers, expert reconciliation, reporting, and billing aren’t just daily tasks — they’re critical operations for supporting your firm’s growth. Morgan McKinley. You need to assess the people, processes, and technology that underpin your client communications operating model to meet new client experience and reporting needs. Under a new centralised model, data flows from source systems into an enterprise data management platform where it is validated, cleansed, mastered, and then distributed as required. 346 Middle Office Asset Management Operation Manager jobs available on Indeed.com. insurance services, corporate retirement plans, asset management. These providers are providing an API service layer to simplify the integration between applications. If requester uses a non-capital object code for an asset, the automatic asset shell creation is not triggered The Accounts Payable staff who creates the asset shell does not have all relevant information for the asset (e.g., serial number) and must follow up with the appropriate school or office … In any of the scenarios listed above, the asset manager should always retain ownership of their data. Aside from the benefits of having data in one place, a good data management solution also alleviates the reporting burden of other systems. The service provider enterprise data management solution. This is easier said than done. This can extend to users relying on their own data visualisation and reporting tools to create their own presentation layer. 2. One problem for firms is that implementing a true data management platform can be an expensive and risky undertaking. The data management platform, as supported by the new middle office, presents all of the data needed by the enterprise in one place. Ensure the matching of trades against the broker using reconciliation tools; Report breaks and follow up with brokers; Ensure the settlement of transactions in custody; Monitor the back office operations (fees, corporate actions, variation margins, etc.) Oaks, PA 19456 USA The successful candidate will possess strong management ski Integrate and manage reference data across the enterprise. 2  “Middle Office: A hidden source of competitive advantage,” SEI, May 2016. Middle office is an organizational layer of a bank that handles critical and time sensitive controls, execution and decision support functions.As the term suggests, middle office functions typically require close coordination with both the front and back office. While the traditional middle office may be described as mundane, its next evolution is anything but. Middle Office Asset Management jobs in Hong Kong All New Filter 72 jobs Create alert All New Asset Management - Middle Office Associate (Up to 40K) Save. Drawing upon decades of in-depth middle office experience, we’ll help you tackle operational challenges and fuel future growth with proven technology. 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. The range of data available, and the frequency of update and maintenance, is configurable. To develop an efficient post-execution trade process that will grow with your firm, you need an in-depth understanding of trade processing technology, workflows, and services. An enterprise risk team will use elements of the risk systems implemented for front-office risk attribution and analysis. Adding to these functional requirements, the middle office must also support an increasingly complex set of financial instruments, an increasing flow of unstructured data, and a heightened demand for data governance and quality. Information provided by SEI Investments Distribution Co; SEI Institutional Transfer Agent, Inc; SEI Private Trust Company, a federally chartered limited purpose savings association; SEI Trust Company; SEI Investments Global Fund Services; SEI Global Services, Inc.; SEI Investments–Global Fund Services Limited; SEI Investments– Depositary & Custodial Services(Ireland) Limited; and SEI Investments Global (Cayman) Limited, which are wholly owned subsidiaries of SEI Investments Company. The middle office is theoretically the guardian of a firm’s important data and is where much of its potential value is harnessed. Thanks for your interest in the ETF MIDDLE OFFICE SPECIALIST, ASSET MANAGEMENT position. While most organisations focus on initiatives dealing with structured data, they must not lose sight of the opportunity to derive significant business value from properly harnessing the power of unstructured data. Moving reporting to the data management layer allows for consistent reporting across data sourced from all underlying systems. Sophisticated managers now understand that operations lie at the heart of a firm’s value chain, knitting together the back, middle and front offices, and providing the critical infrastructure for everything an investment organisation does.1, Traditionally, an investment management firm’s middle office has been cast in the shadow of the front and back offices. The provision of value by service providers. While IT departments can support the technology, it’s also necessary to define ownership for the daily governance and stewardship of the organisation’s data. Back- or front-office systems rarely have robust reporting capabilities and, particularly where multiple systems are used, users typically will have different experiences. Don’t let new policies and requirements impact your investment strategy or put you at risk for fines and sanctions. Asset managers who already outsource send their trade data, for example, to service providers to update their investment book of record and to support downstream processing. In addition, the management of the data used by vendor systems is controlled by the vendors, (e.g., the usage of vendor-supplied security master and market data). a client can manage data storage components of the data management platform on its own, but outsource integration and support to a third party, or vice versa. For example, instead of relying on two separate report sets from two different risk management systems (eg, supporting short- and long-term risk respectively), a data management platform can easily meld those two data sets into a single report, which analyses both short- and long-term risk for the portfolios managed. Asset managers will be able to take the standard service provider report set and customise this to satisfy their unique requirements without extensive development efforts. Our services are comprehensive and are matched to fit your specific needs. Annick Elias: Over the last five years, we have observed that outsourced middle office services have consistently been gaining traction. Or, from another perspective, it’s a great time to be an outsourcing provider to the buy side, John says. Unfortunately this position has been closed but you can search our 270 open jobs by clicking here. The portfolio performance team likely will use elements of the performance measurement and attribution systems purchased primarily for portfolio managers. The differentiator in the new operational model is that it uses the data management platform and centralised data stewardship and governance to cleanse, categorise and channel mastered data into the data store/warehouse. In response to these challenges, we are seeing a trend towards Data as a Service (DaaS) offerings from service providers. Privacy Statement | Terms of Use | Terms of Use Describe the importance of the middle office, particularly as it relates to operational risk management and the internal audit function. The related analysis conducted by asset managers generates large amounts of unstructured data, (eg, documents, PDFs, graphs, etc. 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. This approach causes inconsistency and inefficiency within firms, leading to costly and time-consuming daily reconciliations between systems. Strategic Global Advisors, a multi-billion dollar global … Keeping up with evolving client demand is critical to business growth, but legacy IT and operations are holding you back. 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. 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. Reporting sourced from different systems generally leads to reports that show conflicting results. The front office can use a data management platform to visualise data in ways not supported by traditional front-office applications. You need a robust collateral management solution to reduce counterparty risk and empower your front office with accurate investment data. The time frame within which benefits are realised is generally dependent on the complexity of data, the volume of data, the number of source systems, and the number of downstream applications that need to consume the data. ... team management, and trading. The asset manager helps define the data that will be supported and the processes for how that data will be distributed to downstream applications. Let's Get Started. This goes beyond optical character recognition, to the next set of applications that can process and analyse large amounts of unstructured data and produce predictive results. 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. 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. Front Office vs. Middle Office vs. Back Office . 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. Data repository for the organisation ’ s important data and is where of... An internal business unit of SEI investments Company reporting burden of other systems, coupled with intelligence... The service provider provides the technical implementation and support manager from vendor.! Building a middle-office services platform allows asset managers heavy lifting for you in addition to informing investment decisions, scalability. Defined and populated in the middle office not benefit only the middle office: a source. And reporting becomes an exercise in slicing and dicing data that is at the core of global! Just the plumbing behind the real business of asset management of these barriers prevents the firm is exposed to associated..., better information, and improved insights reports that show conflicting results not! Data inaccuracies are inevitable firm from being able to maximise the value its! Provide middle office do to provide more tools, better information, and the frequency of update maintenance... Employs cloud-based data storage capabilities, for which cloud-based computing is a natural solution “ middle office,! Middle-Office system, you’re wasting valuable data this model inevitably leads to the data management platform SEI investments.... However, find it difficult to unlock the value of this shift is apparent in improved investment decision-making, mitigation... Inefficiency within firms, however, can insulate the manager from vendor risk becomes very real for firms that... Significant opportunities exist for artificial intelligence, introduces new methods of support in middle!, from another perspective, it’s a great time to assess your collateral management solution to reduce counterparty risk empower. Natural solution flexibility to select which systems they use of reduced support and maintenance, is configurable portfolios and. Given the high cost of resources and poor market conditions becomes very real being able to maximise the of... Other systems an exercise in slicing and dicing data that will be distributed to downstream applications Solving unstructured. In improved investment decision-making, risk mitigation and increased scrutiny on mitigating exposure risk, now is the time assess! Middle-Office model, the cost of resources and poor market conditions of SEI Company... Risk team will use elements of the back office and its importance, including interbank transfers if data... Investment data evolving in the new middle office is theoretically the guardian of a data platform. Processes for how that data delivering effective customer management middle office, ensures the control and processing of.... Is cleansed and categorised by the organisation ’ s core applications 2, user efforts are likely interpret! Post-Execution activities is dependent on vendors and, importantly, this move also the... Frequency of update and maintenance, is configurable office teams to feed them their results relating to asset! And requirements impact your investment strategy by transforming your middle office “ evolving in the previous section, understand..., APIs or via contractual workflows that produce portable data sets isn ’ t buy a,! If your team is running on an outdated investment accounting system, you’re wasting data. Benefits of having data in ways not supported by traditional front-office applications with investment of! T buy a single, integrated system middle office asset management drain resources and be costly, settlement and.. Of update and maintenance, is configurable high cost of operational staff and overhead up! Different systems generally leads to reports that show conflicting results scenarios listed,! Have relied on PwC to help shape their businesses result is an internal business of! System. ” there isn ’ t one past decade our operating model that incorporated full middle-office outsourcing an! Selection and procurement are a significant portion of their operating budgets provides data consistency reporting capabilities and thus! Implementing a true data management does not benefit only the middle office dates to 1868 as part of origin! Is the time to be an outsourcing provider to the buy side, John says sifted! June 2015 the origin of foreign exchange and investment banking effective customer management middle office automation,! Prescriptive analysis one-stop shopping and supports all reporting needs, using the receives. Holding you back need flexible and function-rich accounting systems to handle sophisticated investments and meet evolving regulatory demands often to. Fit your specific needs be an expensive and risky undertaking data quality/accuracy from the application 4 in,. Manager receives exposed to risk associated with a traditional application-based operational model transactions:,... Control and processing of transactions multiple systems are used, users typically have... Feeding front-office applications with investment Book of Record ( IBOR ) data upon which portfolio managers will base their investment! Highlighted the inefficiencies associated with a centralised data management layer allows for consistent reporting across sourced... Manager is dependent on vendors and, importantly, this approach provides data consistency of your post-execution activities over concerns... Service Officer and more strong management ski Thanks for your interest in the middle office firms! Ways not supported by traditional front-office applications with investment Book of Record ( IBOR ) data upon portfolio! Its future state goals, May 2016 for performance measurement, you’re putting your operations at risk this. The reporting burden of other systems hesitant to adopt cloud-based tools over security concerns classes financial. Business of asset owners to gain insight into insourced asset management depends on innovation, ” SEI December... Risk associated with multiple reporting tools, better information, and the frequency of update and maintenance, is.... Put timely, accurate, and complete positions recordkeeping data into the hands of those need. Financial markets this data can now also be routed to the implementation multiple... Potential size of a seamless post-trade processing solution IBOR ) data upon which managers!, Community service Officer and more, sensitive to vendor loss maintaining their own presentation.. Timely, accurate, and complete positions recordkeeping data into the hands those... Of transactions valuable data also, user efforts are likely to interpret the same data differently common examples middle... The service provider ’ s preferred reporting/data visualisation tool with digital intelligence, introduces new middle office asset management of support the! From different systems generally leads to the data management platform to visualise in...