-
USD2tn+
in AuM; the world’s largest custodian bank, based in the US
-
2,000
backlog cleared for cash reconciliation breaks
-
40%
operational cost savings
CLIENT CHALLENGES
- Client sponsor: US-based custodian bank and securities services company
- Client need: Client was looking for a trusted associate to help the Corporate Trust Client Services team perform CLO activities
OUR APPROACH
- Deployed a team of 13 CLO specialists to support the client’s Corporate Trust Loan Operations team in the following areas:
- Cash reconciliation, trade reconciliation and daily cashflow analysis for deals assigned; liaising with Cash team and Asset Admin team
- Preparing monthly and weekly reports to help Client Service Manager identify/address discrepancies
- Reviewing and validating coverage tests, collateral quality test and concentration limitations test with client data to check whether deals are compiled with indenture language
- Working on waterfalls by validating the accrual date, payment date, LIBOR rate, expense cap language and fee basis amount, and reviewing wire instruction
- Tracking loans and bond trades, checking portfolio information and accuracy
- Performing aggregate collateral balance (ACB) and aggregate principal balance (APB) for different CLOs
- Processing internal transfers, FX and testing hypothetical trade scenarios
- Trade bookings and settlement for CLO and non-CLO deals in client’s system
- New deal setup functions and redemption processing for different deals
- Global Funds Control (GFC) and Short-Term Investment Fund (STIF) payment processing and managing the fund balance
- Preparing daily checklists, creating trade and research tickets to update the client’s systems
- Third-party tools : WSO, Solvas, Nexen, S&P, Markit, Moody’s Rating, Bloomberg.
IMPACT DELIVERED
- Provided real-time support to the client
- Cleared backlog of 2k cash reconciliation breaks for multiple funds
- Added bandwidth to the client teams, providing operational support, reducing cost by 40%
- Gave the client a time-zone advantage
Thank you for sharing your details
Your file will start downloading automatically
If it does not download within 1 minute,
Share this on
