pControl Oversight pioneered the ability to create an accurate NAV utilizing the NAV ProtectTM methodology to enable timely validation of externally produced NAVs and, to provide a Backup NAV in the event of a service provider outage, on a single platform.
pControl Oversight is now the category leader in this segment. It is an established cloud-based, enterprise oversight solution that enables clients to independently verify the accuracy of NAVs produced by one or more service providers globally on a consistent and timely basis. pControl Oversight provides standardized data handling, process management, and validations delivering a high confidence solution. It incorporates a fully integrated Backup NAV capability, and provides insurance to organizations seeking operational resilience to deal with the possibility of a limited or multi-day service provider outage.
The capabilities are relevant to fund managers and asset owners who have outsourced fund accounting or middle office functions and have a fiduciary or operating risk responsibility requiring oversight or contingency arrangements for these business-critical functions.
- Aggregates data from one or more fund accounting service providers
- Eliminates the need for spreadsheets and manual collation of data to perform reviews
- Performs comprehensive industry-standard NAV validations
- Manages multiple tolerance settings across hierarchies of clients, products, sectors, and portfolios
- Maintains full audit trail of all validation activity
- Calculates expected NAV, utilizing unique NAV Protect™ methodology
- Expected NAV to actual NAV comparison and daily movement analysis identifies valuation exceptions for escalation
- Intelligent exception management utilizing auto-clearance
- Online reporting, approval, and release workflows support daily sign-offs
Backup NAV Features:
- Simple, robust, transparent fail-over workflow
- Supports all fund types including share classes
- Accurate over a multi-day outage period
- Operates with independent data sources
- Traceability & tracking history to actual NAV
- Alternate dissemination path
- Independent verification of NAV accuracy through the application of an expected NAV as a reference for comparison to the actual NAV. This is equally applicable to outsourced portfolios and non-unitized asset pools.
- Industry standard NAV validations and data controls over the outsourced service providers’ actual NAV results to demonstrate best practice that is repeatable and audit-able for regulators and stakeholders alike.
- NAV Protect™ methodology to reliably calculate a contingent backup NAV in the event of service provider outage is designed to eliminate the effort and cost associated with duplicate ‘books and records’ or shadow accounting strategies.
- Upon service provider outage, no ‘cold start’ delay or effort impact of fail-over to backup NAV release and this process is designed to be maintained and invoked within an existing oversight teams’ capacity.
- Reduced technology and business operational staffing requirements through fully hosted technology using secure environments, with managed operational service to monitor business processing and data arrival.
- Alternate source data paths for security prices, benchmarks, exchange rates and corporate actions to eliminate critical dependencies upon the outsourced fund accounting providers’ operations during outage periods.
- Operates independent of service provider(s) availability