Northern Trust announced today it has launched a new tool to make it easier for institutional clients to manage the complex workflow and intricate reporting needs related to oversight of investment managers.
ComplianceRADAR offers clients around the world the ability to quickly identify breaches of investment guidelines, document actions towards resolving the breaches and run summary and detailed reports to assist clients with a variety of audit and management requirements.
"In order to keep pace with their multi-manager, multi-asset class, geographically diverse investment programs, our clients' risk monitoring requirements have evolved in sophistication and complexity," said Lenora Kelley, Product Manager for Northern Trust's compliance products. "ComplianceRADAR addresses the need for a flexible, on-line tool that will help institutional investors manage and audit their compliance monitoring program in a comprehensive and effective way."
ComplianceRADAR is available via Passport, Northern Trust's multi-faceted web portal, and offers an on-line dashboard to support the real time oversight of all guideline breaches. Using ComplianceRADAR, clients can now:
- Manage Exception Reports (guideline breach notifications) they receive as subscribers to Northern Trust Compliance Analyst®, which enables clients to flag certain breaches as "Action" types so they can more quickly follow-up and resolve the items.
- Input notes directly onto the dashboard so they can more easily keep track of their activity and next action steps.
- Run reports via an easily accessible reporting function that provide information on each investment policy breach, executive summary reports to help document the compliance monitoring process and highlight the results.
Paul d'Ouville, head of Northern Trust's C &IS Global Product Management Group, said: "In today's environment, our clients are seeking new and better ways to monitor their risk exposure effectively. Clients are being asked to monitor everything related to their investment programs, and to do so within a reasonable cost structure. Proper utilization of technology is one approach to accomplish both goals simultaneously; and Northern Trust is committed to continuously upgrading and enhancing our risk and compliance monitoring capabilities to help clients meet these difficult objectives."