Since the final version of Form PF was confirmed by the SEC and the CFTC on 31 October, 2011, ConceptONE has ben analysing the new requirements and has spent a significant amount of time researching the proposed rules and building the necessary tools, including a specialised data warehouse and proprietary calculation library, to help clients implement the required reporting process.
ConceptONE has ben providing data aggregation and risk reporting through its subsidiaries since 2005 and is intimately familiar with the challenges of aggregation and producing the corresponding portfolio analytics.
“Form PF is an intricate and detailed exercise in data aggregation, portfolio analytics, and the corresponding reporting, and presents significant challenges for investment managers and their service providers. That said, aggregation is at the core of what ConceptONE has done since its inception and as a result our services and solutions are a natural fit for Form PFF preparation,” says ConceptONE President, Dan Connell.
“We have been fine-tuning our data and analytical engines to support Form PF preparation. We anticipate that there will not only be challenges for clients in the support and preparation for the report, but also in the interpretation and assimilation of regulatory reporting into their reporting obligations. We intend to provide a total data solution for clients. This is a monumental change for the industry and the time to start preparing is now. We encourage proactive measures and are eager to sit down with those impacted by this rule sooner rather than later”, says Ken Grant, Chairman of ConceptONE.
“At its core, Form PF is an analytics, aggregation, and reporting exercise. We have been analysing the requirements since the announcement in January and have built a scalable solution that is now available to asset management firms of all types. Advisors will have to aggregate data across custodians, prime brokers, counterparties, and administrators in addition to their data sources. data management, aggregation, and analytics have always ben at the core of our offering, and that is why we believe we are so well suited to help our clients with this new reporting requirement” says Connell.
RiskONE, ConceptONE’s reporting and analytics division is ideally suited to perform the necessary calculations and aggregations required in order to complete the Form PF. RiskONE is currently accessing and aggregating over 550 data sources, many of which will be required in order to fully populate Form PF. Furthermore, one of the core offerings of RiskONE is its data management service, which lends itself to the significant data mapping and attribute enrichment that is necessary to file Form PF. Given the complexities of completing Form PPF, asset managers will need to have the ability to gather, manage, and maintain data to produce the risk reporting requirements included in Form PF.