Asset and Wealth Management BPO Cognizant’s Asset and Wealth Management Practice Cognizant has over 4000 professionals servicing IT and BPO operations across the asset and wealth management landscape. Cognizant’s AWM practice is built on the foundation of Cognizant’s in-depth process, industry and technology knowledge which it has utilized to help enterprises transform their investment management processes and lower the cost of fund administration. Cognizant’s Asset and Wealth Management BPO Capabilities With over 1000 FTEs across 6 customers and $900 billion in Assets under Management (AuM), Cognizant has built deep and proven domain intensive Asset and Wealth Management BPO Capabilities and best practices for the banking and financial services industry. The AWM BPO practice services Investment Managers/Wealth Managers, Investment Banks, Private Banks, and Pension Trusts across traditional and alternative investment classes for direct funds as well as fund of funds. Cognizant Asset and Wealth Management BPO Highlights End to end service offerings across fund accounting and administration; Strong capability across transactional and high end strategic processes Servicing some of the largest alternative asset managers in the world; Large Presence in Wealth Management operations for leading investment bank Extensive experience with third party COTS products such as Investran, FundCentral, EquityWorks, HedgeSphere, Sophis and Wall Street Office among others Supporting leading fund managers across the Americas, Europe and Asia-Pacific A representative list of Asset and Wealth Management engagements delivered by Cognizant is depicted below: Client Functional Area Key Processes Leading Asset Manager (AUM of $180 billion) Fund Accounting Reconciliation Financial Modelling Valuations Accounting and Reconciliations Investor on-boarding / life cycle data management Performance & Valuation modeling Cash and Treasury Management, Tax and Systems support Wealth management arm of leading investment bank (Global Top 5 Investment Bank) Securities Operations Valuations Data Management Static Data Maintenance and Pricing Support Margin & Asset Control Corporate Actions, Clearing and Settlement Large European bank Risk Management Corporate Actions Pricing / NAV Risk assessment, performance measurement and attribution Record Keeping and NAV validation, Data Management Corporate Action elections, follow-up and query handling
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Asset and Wealth Management BPO
Cognizant’s Asset and Wealth Management PracticeCognizant has over 4000 professionals servicing IT and BPO operations across the asset and wealth management landscape. Cognizant’s AWM practice is built on the foundation of Cognizant’s in-depth process, industry and technology knowledge which it has utilized to help enterprises transform their investment management processes and lower the cost of fund administration.
Cognizant’s Asset and Wealth Management BPO CapabilitiesWith over 1000 FTEs across 6 customers and $900 billion in Assets under Management (AuM), Cognizant has built deep and proven domain intensive Asset and Wealth Management BPO Capabilities and best practices for the banking and financial services industry. The AWM BPO practice services Investment Managers/Wealth
Managers, Investment Banks, Private Banks, and Pension Trusts across traditional and alternative investment classes for direct funds as well as fund of funds.
Cognizant Asset and Wealth Management BPO Highlights
End to end service offerings across fund accounting and administration; Strong capability across transactional and high end strategic processesServicing some of the largest alternative asset managers in the world; Large Presence in Wealth Management operations for leading investment bankExtensive experience with third party COTS products such as Investran, FundCentral, EquityWorks, HedgeSphere, Sophis and Wall Street Office among othersSupporting leading fund managers across the Americas, Europe and Asia-Pacific
A representative list of Asset and Wealth Management engagements delivered by Cognizant is depicted below:
Client Functional Area Key ProcessesLeading Asset Manager (AUM of $180 billion)
Fund AccountingReconciliationFinancial ModellingValuations
Accounting and Reconciliations Investor on-boarding / life cycle data managementPerformance & Valuation modeling Cash and Treasury Management, Tax and Systems support
Wealth management arm of leading investment bank (Global Top 5 Investment Bank)
Securities OperationsValuationsData Management
Static Data Maintenance and Pricing SupportMargin & Asset ControlCorporate Actions, Clearing and Settlement
Large European bank Risk ManagementCorporate ActionsPricing / NAV
Risk assessment, performance measurement and attributionRecord Keeping and NAV validation, Data ManagementCorporate Action elections, follow-up and query handling
Global MarketsSupporting instrument and product reference data set up across global markets across Americas & Europe
End to end Processing
Corporate Actions for Income/Dividend and Reorganization; US domestic pre-settlement activity for Fixed Income & Equity products
Change the Bank FocusCognizant leverages its vast process consulting expertise, rich domain knowledge and strong understanding of BPO and IT to deliver business impact by identifying opportunities to create value and transform business processes.
Service Area Key Solution Interventions Value and Business Impact CreatedAccounting & Valuation
Workflow for 3000+ underlying FoFs Automation of work papers
Overall 60% reduction in annual cost Overall Quarterly Work paper TAT reduced by 15%
Reconciliation Process automation Workflow deployment across processes
Streamlined reconciliations and completed inter-system reconciliation for 30,000 pending records
Data Management
BPM platform in investor operations POC approach; Thorough documentation
TAT reduction and Error minimization 45,000+ multi currency/ class/ series fund migrations
Cash Management
Direct interaction with client investors with regard to LP letters and follow up
Eliminate clerical errors through auto sweep interest upload
Research & Support
Customized Research for Key Stakeholders In depth data analytics
High-end analysis of survey data at competitive costs leading to better ROI from market surveys
Reporting Automation by leveraging macros Efficiency improvement and cost savings up to 40 % Legal Risk and Compliance
Introduced digital signature Redesigned workflow for AML Compliance Approach to set limits in absence of NAVs
50% reduction in processing and QC time Productivity improvement by 35%in AML Reduction in reputation risk
Passion to build stronger businessesTrue to our passion to build stronger businesses for our customers, Cognizant addresses the concerns of the AWM Industry by guaranteeing the below benefits to Asset and Wealth Managers that leverage its suite of BPO services:
Coping with shrinking margins - Cost Optimization, processes efficiencies and scalability across value chain Reducing risk and cost of ownership - Robust risk management coupled with governance rigor; Technology interventions for
process automation and processing capacity improvement Complying with changing Regulatory requirements - Enhanced compliance through workflow enablement, Global delivery for
flexibility and scalability while appreciating jurisdictional limitations Business Transformation - IT- BPO Synergies and process improvement methodologies like Six Sigma (DMAIC and DMADV),
Lean, Kaizen and TQM to increase process efficiency and enhance productivity