SwissComply is expanding its control offerings for asset managers. The company is also responding to the regulations of the Swiss Financial Market Supervisory Authority (Finma).
An increasing number of asset managers are delegating control functions to third parties. According to Swiss Financial Market Supervisory Authority (Finma), more than half of the asset managers and trustees use external service providers to meet the organizational requirement of separating control functions, namely the second line of defense.
Historically, most employees of these service providers have a legal background and primarily possess competencies in the compliance area. However, experience and training in risk management and control are less common, as is specific trust knowledge, as stated by FINMA in a supervisory notification from February 2024.
SwissComply provides outsourcing services in compliance, risk management, and legal for well over 200 asset managers.
Special Offer for Financial Intermediaries
The company has responded to this development and has adjusted its strategy, according to a press release. SwissComply now offers real-time investment controlling
Real-Time Investment Controlling is particularly interesting for financial intermediaries that use portfolio management systems with an investment compliance module. The aim is to outsource the pre- and post-trade checks, thereby reducing the effort and costs for financial intermediaries related to investment controlling. The service offers early detection of risks while maintaining independence.
Portfolio Risk Analytics Support
Additionally, SwissComply is expanding in the area of investment risk management with the Portfolio Risk Analytics Support, which provides assessments of quantitative risk indicators for portfolio and liquidity risks.
The new areas are led by Magdalena Kinal, Head of Investment Risk, who has 18 years of experience in global markets, portfolio management, and investment risk management. The team is complemented by the expertise of Alexander Michelberger, a specialist with over 15 years of professional experience in investment controlling, risk management, and trading in securities and foreign exchange.
