Northern Trust has chosen SunGard’s Asset Arena Control Center to help the firm increase operational efficiency and to reduce risk.
The control centre will convert complex work processes into electronic checklists and dashboards that will increase automation and improve operational oversight, as well as giving controls of the firm’s funding accounting and investor accounting activities.
This new centre expands Northern Trust’s range of SunGard solutions that helps ensure increased transparency and process optimisation and spans the firm’s wealth management, asset management, private equity, capital markets, risk and analytics, and reconciliations systems.
Peter Cherecwich, head of global fund services within Northern Trust’s corporate and institutional services business unit, said: “It has been crucial to us to ensure we have the right systems in place that will help enhance our portfolio processes.”
“By working with SunGard, we will look to achieve a smoother end-of day net asset value creation process, reduce the potential for risk and meet regulatory requirements which will ultimately help us generate significant cost savings. SunGard has long been a consultative advisor to us, and we look forward to continuing our collaboration for future projects.”
Doug Morgan, president of institutional asset management for SunGard’s asset management business, said: “Both investors and regulators are seeking greater transparency from fund managers and their administrators. They require evidence that their processes are robust and that strict controls are in place.”
“The firms that are best positioned for success are those that employ comprehensive solutions with a centralized view of fund accounting and investor accounting activities. As a long standing SunGard customer using a wide variety of our solutions, Northern Trust is a great example of this and Asset Arena Control Center will help take the firm even further in building increased transparency.”
“This will ultimately aid Northern Trust in achieving its overarching business objectives by increasing the level of control over its processes and reducing operational risk.”
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