IMP Consulting Redefines the Process for Reconciling OMS Compliance Rule Libraries

CLEAR™ Recon replaces a manual reconciliation process, and mitigates the risk of human error for investment management firms


BOSTON, MA, May 15, 2017 (GLOBE NEWSWIRE) -- IMP Consulting, a leader in OMS implementation and compliance solutions for the asset management industry, today announced the release of CLEAR Recon as the latest addition to its growing compliance practice. 

The CLEAR (Compliance Library Enhancement and Audit Review) suite of services enable compliance teams to identify and correct inaccurate, duplicate, and outdated rules in the trade OMS compliance rule library for buy-side investment management firms.

The latest offering, CLEAR Recon, produces a set of on-demand reports highlighting missing rules, missing accounts or account groups, missing rule assignments, or variances in end-of-day compliance results. CLEAR Recon is a repeatable process that takes the human error component out of compliance reconciliation; reduces the risk of trade errors; and replaces a time-consuming manual process. It can be run at any point in the compliance lifecycle, from rule library analysis to implementation.

“Many firms surprisingly rely on Excel spreadsheets for rule reconciliation. One mistake, or even a small typo, in the spreadsheet can have an enormous impact, such as costly trade errors or SEC scrutiny,” said Bryon Williston, Executive Vice President of IMP. “An automated tool, such as CLEAR Recon, takes the human error out of the process, and can deliver the break reports faster, and more accurately.”

IMP Consulting, founded in 2004, initially developed CLEAR after observing that many firms were reaching a critical point where the manageability of the compliance rule library, and the process and controls around them, were failing.

“CLEAR is backed by a team of compliance experts at IMP who understand the regulatory requirements governing the different investment vehicles, and can accurately translate them into code across all of the market-leading compliance systems,” said Williston. “These specialists work with compliance and IT teams to produce the required import, and properly map the files - saving days, or months of work for people.”

The CLEAR suite of services also includes CLEAR 360 and CLEAR On-Demand. Visit http://www.impconsults.com/clear/ for more information.

About IMP Consulting
IMP Consulting is the industry leader in OMS implementation and compliance solutions for buy-side investment management firms and hedge funds. IMP also offers advisory services, system review and selection, and management of outsourced projects across the front, middle and back-office. Known for their deep subject matter expertise in Trade Order Management, Compliance, Performance and Accounting Systems, IMP's Consultants understand the commercial landscape and have broad, hands-on experience with the world's leading investment software products. To learn more, please visit www.impconsults.com or call (617) 314-7415.


            

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