Schroder Investment Management (Luxembourg) is implementing Milestone Group’s pControl software to enhance management of its outsourced fund accounting processes.
pControl’s Fund Oversight module will provide Schroders with oversight of third party service providers, to ensure SLAs are met and client service is maintained. The fully automated solution will enable Schroders to monitor, validate and analyse all components of their investment funds valuations process from a single point of reference and drill down into transaction and fund data when forensic examination is required.
“We recognised the need to have a system like pControl in place for some time and had begun to build a proprietary system to manage this process,” said Gary Janaway, operations director at Schroders. “When Milestone Group showed us pControl, it was clear the solution was exactly what we needed. The software can deal with the multi-class, multi-currency complexities of the investment vehicles we offer, and its flexibility and scalability were critical as we focus on improving the quality and efficiency of the fund services we provide.”
“pControl’s Fund Oversight addresses the operational, regulatory and reputational risks faced by financial institutions outsourcing key operational functions head on.” said Paul Roberts, managing director – Europe at Milestone Group. “What’s more, it is clear that under the current climate, demands for transparency and operational control are only going to intensify. This makes it vital for financial institutions to look for better ways to monitor service levels and outputs associated with outsourced relationships. There is an emerging need for automation of this process to achieve the levels of efficiency, transparency, and timeliness now demanded. Schroders had already recognised this and we are delighted to welcome them as a client.”
