Roles
VB-PUO for the Fiduciary manager (FM)
The fiduciary manager receives the fund's positions, flows and projections, translates them into instructions to operational asset managers and LDI managers and keeps a shadow administration. One fiduciary often serves dozens of funds: an error in the receiving layer multiplies across all its clients.
Sends
Receives
- 0001a Capital
- 0001b Cashflow
- 0001c Pension projection
- 00553 Control information investment pools
- 00555b Value information investment pool
- 00556 Payment information
Checklist
- One validation layer for all fund clients, with the release per client.
- Feedback synchronous or asynchronous according to the six patterns, with fixed turnaround times per client.
- Reconciliation of the IBOR with messages 4 and 13 of the investment administrator.
- Tolerance monitoring on allocations now that message 11 is discontinued.
Deadlines
- Process control information (message 10) at T-4 to make the execution window T to T+3.