Reporting Repository Case

The Challenge

A multibillion-dollar hedge fund had 28-plus systems, 50-plus interfaces, 80-plus employees and offices in New York, London and California. The major issue at hand was that the primary portfolio management and accounting system’s data access was limited with heavy reliance upon the vendor to develop new data extracts and reports or to modify existing ones. Due to the lack of quality reports, high costs associated with vendor customization and the fact that not all the required data is stored in the system, Excel was used extensively, with significant effort expended to reformat and augment existing system data extracts and reports. This results in:

  • Inefficient and error prone processes
  • Severe bottlenecks in the reporting processes
  • Reduced control and inability to respond to new requirements or ad hoc requests in a timely fashion
  • Increased business risk as the termination, absence or lack of availability of key employees could result in inability to fulfill needs

Client Goals

The introduction of a Reporting Repository that will receive data feeds from various portfolio management, accounting, compliance and investor relationship systems will enable the integration of multiple types of data in a single report. The following types of data to be stored in the Reporting Repository: security master file, transactions, holdings, analytical, partners capital statement, partner and fund level returns, market prices, P/L and market data. Further benefits include:

  • Decouple reporting processes from the main portfolio management and accounting system and minimize dependencies on vendor to create new, or modify existing reports and extracts
  • Create single, central source for information which is accurate and consistent, providing the ability to reproduce previously reported data
  • Increase timeliness, frequency and content of reporting processes and eliminate manual effort and reliance on offline Excel spreadsheets
  • Store all mission critical data in a manner that puts a high premium on accessibility, data security and control
  • Develop a framework that will be expandable and flexible
  • Free up staff members to concentrate on core functions in lieu of data gathering and reporting

Approach

  • Prepare requirements definition
  • Develop high level data model for the storage of portfolio related data
  • Implement a central repository and reporting engine for all future end user reporting needs of Client Services, Marketing, and Portfolio Management
  • Automate the feeding of data from multiple source systems into the data warehouse

The Results

  • Developed business case for project that was presented to senior management to secure funding and commitment for project
  • Documented high level data requirements model
  • Assisted in the build vs. buy analysis and decision
  • Prepared detailed business requirements and assisted in the evaluation and selection of a vendor solution
  • Performed vendor gap analysis and prepared specifications for product customization to meet client’s needs
  • Project was completed in 4 months with the main portfolio management and accounting system as the initial data source

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