Overview

KID Software for PRIIPs Manufacturers

The PRIIPs module from Financial Risk Solutions is comprised of the following components :

  • Covers a wide diversity of fund offerings for PRIIPs products
    including insurer mirror funds, FoFs (both internal and external),
    funds with direct investments
  • Covers both Funds of Internal Funds and Funds
    of External Collectives
  • Covers the RTS recalculation for FoF of historic unit prices
    for the purposes of the risk indicator, performance
    scenarios and costs figures
  • Covers regular premium contracts
  • Covers product charges such as bid/offer spreads, premium
    allocation charges, percentage of fund exit charges, flat plan
    management charges such as policy fees and also percentage
    based charges taken by unit deductions from policies
  • Covers fund charges
  • KID figures maintained in results database with
    comprehensive Analytics capabilities
  • Can be deployed as either cloud or on premise solution

Whilst the Key Investment Documents will be clear and easy to read for consumers (and in a pre-described format, bringing uniformity to the investment industry), the compilation of the KID is extremely complex for PRIIPs manufacturers, requiring quarterly updates to each KID based on the previous 5 years unit prices calculations using
different positions holding data.

Automated and integrated

Comprehensive data validation

Multi-option products

Cross-checks to previous results

Accuracy checks on the KID figures

Key Benefits

Boost Investment administration efficiencies, reduce operational costs and mitigate risk

  • A cost-effective automated solution for the production of KIDs in a controlled environment
  • Minimise dependencies on external parties
  • A complete integrated PRIIPS solution covering direct funds, fund of funds and single and regular premium PRIIPs
  • Provides PRIIPs manufacturers with a full audit trail of the KID production
  • Data analytics on the PRIIPs dataset
  • Produces additional point of sale material
  • Pre and post-sale PRIIPs including KID charges calculations
  • Can be deployed either on premise or as a cloud solution

Asset Valuations

What it does for you

  • Produce lightning-fast valuations
  • All major asset classes covered
  • Inbuilt links to external data providers
  • Exception based automation facilitates operational efficiency
  • Full drill-down records of past valuations as standard
  • All fund structures covered, flat, tiered and a combination of both

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Tax Accruals

What it does for you

  • Increase the accuracy of tax accruals with automation
  • Meet TCF and ABI guidelines
  • Comply with new rules for CGT tax for non-UK residents
  • Improve profit analysis by aligning policyholder and company taxation
  • Avoid undue credits to policyholders for tax losses
  • Reduce risk with a robust audit trail

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Unit Pricing and NAV

What it does for you

  • Integrates with policy admin systems to capture policyholder requested fund transactions
  • Market data interfaces to all major providers
  • All major asset classes covered
  • Full audit trail and history of records of past valuations
  • Exception based reporting
  • Accounting for asset disposals on the first-in-first-out or average cost basis
  • Complex fund charging structures
  • Allowance for UK ‘I-E’ taxation provisions for life funds
  • Multiple valuations on a single date to fulfil separate requirements, e.g. regulatory reporting and unit pricing

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Cash Allocation and Rebalancing

What it does for you

  • Convert unit/share in Fund-of-Funds movements easily
  • Synchronised timing of trade execution and unit creation
  • Create new shares/units in collective funds directly from client cashflows
  • Algorithmic calculation of trade orders and automatic placement of trades to market
  • Implicit and explicit box management functionality for all funds
  • Configurable compliance rules ensure allocations are checked before approval
  • Automated Model Portfolio rebalancing and risk monitoring settings
  • Manage growing fund volumes with the same human resource and cost base

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Charges

What it does for you

  • Automatic calculation of complex fee management structures
  • Remove the risk of manual and offline charge calculations
  • Display charges clearly on valuation statements
  • Extensive reporting capability to meet regulatory requirements
  • Comply with MiFID II cost and charges
  • Calculates IDD charges and generates PRIIPs and KIDs

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Trade Order Management

What it does for you

  • Manage the entire trading life cycle efficiently
  • Automated order management processing reduces errors
  • Customisable workflows for different security categories
  • Links to major trading platforms and settlement counterparties
  • All trading stages and processes are user-configurable
  • Alerts, rule breaches and management information analytics for increased oversight
  • Scalable to millions of transactions per day

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General Ledger

What it does for you

  • Integrate your corporate general ledger directly to InvestPro
  • Our mapping tool allows automatic syncing
  • Powerful GL data available for deep analytics
  • Rich controls to oversee compliance
  • Increased internal risk management capabilities

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Reconciliations

What it does for you

  • Reduce operational risk across investment administration
  • Verified asset positions for robust reporting
  • Reduce risk of mismatch with daily automated bank reconciliations
  • Independent checks on trading functions
  • Matches multiple banks to system transactions
  • Find data exceptions before they become financial problems

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Self-service web portal

What it does for you

  • Improve client satisfaction with easy access to their investments
  • Reduce administration by giving customers and advisors the ability to manage their portfolio
  • Send validated customer captured trade instructions straight to market
  • Configurable access rights for secure access to the InvestPro installation
  • In-built rules and a breach mechanism provide continuous oversight
  • Hosted solution for reliability and scalability

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PRIIPs

What it does for you

  • Automate KID production in a controlled environment
  • Minimise dependencies on external parties
  • Covers direct funds, fund of funds and single and regular premium PRIIPs
  • Exception based processing to reduce risk
  • Data analytics on the PRIIPs dataset
  • Produces additional point of sale material
  • Pre and post-sale PRIIPs including KID charges calculations

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Fund Performance

What it does for you

  • A cost-effective automated solution for the production of KIDs in a controlled environment
  • Minimise dependencies on external parties
  • A complete integrated PRIIPS solution covering direct funds, fund of funds and single and regular premium PRIIPs
  • Provides PRIIPs manufacturers with a full audit trail of the KID production
  • Data analytics on the PRIIPs dataset
  • Produces additional point of sale material
  • Pre and post-sale PRIIPs including KID charges calculations
  • Can be deployed either on premise or as a cloud solution

Find out more

Oversight & Audit

What it does for you

  • Meet compliance requirements and reduce financial and reputational risk.
  • Pre-loaded with best-practice validation rule checks.
  • Complete user control/ configuration over rule settings.
  • Increase regulator, board and policyholder approval and satisfaction.
  • Best of breed validation rules out of the box with easy customisation.
  • Low touch, highly automated and exception based.
  • Intuitive user interface makes configuration easy for all users.

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Solvency II QRTs

What it does for you

  • Automatic production of the asset QRT reports
  • Integration with market data providers
  • Integration with look through data providers: Morningstar, Bloomberg, Thompson Reuters, Silverfinch, Fitch, Moody’s
  • Production of asset data for Pillar I calculations
  • Rules and workflow management for corrective action on rule breaches
  • Enrichment of asset data for Pillar I SCR calculations and Pillar 3 reporting
  • Generation of enriched data files for group reporting purposes

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Solvency II Unit Matching

What it does for you

  • Comprehensive Box Management Functionality
  • Automated data import, e.g. loading unit data from outsourcers or other group systems and importing total units and unit price calculations
  • Transparent reporting and analytics
  • Full internal audit trail of all actions, validations and data changes
  • Dashboard to monitor the process and provide reporting and controls
  • Monitor mass lapse events and trigger buyback, subject to liquidity
  • Create/Cancel Units to match total policyholder liability
  • Extracts to downstream systems as required

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Box Management

What it does for you

  • Automated data import, load unit data from outsourcers or other group systems
  • Full internal audit trail of all actions, validations and data changes
  • Dashboard to monitor the process and provide reporting and controls
  • Monitor mass lapse events and trigger buyback, subject to liquidity for Solvency II unit matching usage
  • Create/Cancel Units to match total policyholder liability
  • Supports unit matching, deferring or backdating appropriations, and seeding of fund

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Trustee Investment Plan (TIP) Administration

What it does for you

  • Stakeholders can view the latest scheme valuations and transactions (as well as historic valuations/transactions)
  • Stakeholders can view charges and fees
  • Stakeholders can view performance reports
  • Stakeholders can track and share scheme and fund performance
  • Internally users can automatically accept scheme orders, place orders in funds and import contract confirmations
  • Internally users can allocate cash and administer investment rebalancing for hundreds of schemes in minutes

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Individual Constant Proportion Portfolio Insurance (iCCPI)

What it does for you

  • Produce lightning-fast valuations
  • All major asset classes covered
  • Inbuilt links to external data providers
  • Exception based automation facilitates operational efficiency
  • Full drill-down records of past valuations as standard
  • All fund structures covered, flat, tiered and a combination of both

Find out more


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