24 April 2014

Numeric deepens compliance with Charles River

04 December 2012  |  893 views  |  0 Source: Charles River

Charles River, a front- and middle-office investment management solutions provider, today announced that Numeric Investors, LLC, a Boston-based institutional investment manager, is live on the Charles River Investment Management Solution for automated monitoring and management of compliance activities across its global equity, derivatives and foreign exchange operations.

Numeric is also leveraging Charles River's new Compliance Advisory Service to keep pace with changing regulatory requirements. The service includes compliance health checks, advanced rule building and maintenance, and education.

The implementation was part of Numeric's initiative to support changing global regulations by replacing its propriety compliance system with a single, multi-asset solution and supplementing in-house staff with outsourced rules management expertise.

"We were impressed with the depth of Charles River IMS' functionality and its vast library of pre-built compliance rules," said Rick Hanna, Chief Financial Officer, Numeric. "We now have the flexibility and scale to address changing regulatory and client requirements around the world. And we've reduced our risk with systematic monitoring and a continuous compliance review process."
"Maintaining a global rule library can be difficult for an internal compliance team like ours," said Kristina Eisnor, Chief Compliance Officer, Numeric. "Charles River's Compliance Advisory Service provides on-demand access to compliance experts who are familiar with regulations, and our firm's environment and workflows. Charles River gives us the confidence that we are protecting our clients' assets by ensuring our compliance rules are accurate and up-to-date."

Charles River's Compliance Advisory Service includes regular compliance check-ups, advice and assistance with rule creation, testing and validation, as well as optional monitoring for foreign ownership and substantial shareholder disclosure reporting (SSDR). The Compliance Monitoring Service provides comprehensive daily monitoring coverage, including data exceptions, alerts and warnings, manual testing and quarterly reporting.

"Charles River Compliance Services helps clients, like Numeric, reduce the Total Cost of Ownership by streamlining operations and re-directing in-house staff to higher-value activities," said Tom Driscoll, Global MGlobal Managing Director, Charles River. "Our experts work as an extension of internal compliance teams, providing enhanced depth and skills to identify gaps, correct inefficiencies, and reduce compliance risk."

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