Meradia’s client, a multi-boutique investment manager, struggled to generate timely client or management reporting. Products included public funds, ETFs, institutional, private client UMA and retail UMA. Portfolio accounting, reconciliation, performance and client reporting functions were outsourced to multiple vendors. A lack of governance across the data further challenged the client in this complex landscape. The client struggled with taxonomy, legacy data, and poor documentation. They could not easily add new data sources or accurately report across all time periods and sources.
The Meradia team worked with multiple vendor professional service teams to review past design decisions and plan a go-forward strategy that would continue to advance system integrations while in parallel tackled missing best practices across multiple subject areas. New integration work included creation, testing and deployment of new processes. To increase long-term efficiency as the client prepared to integrate additional systems and investment franchises, Meradia worked with the client to establish a data dictionary, historical data requirement policies that would guide conversions and a series of data quality classifications that could be applied across different data sets and tied to expected data usage.
The initial engagement was completed on time within the allocated four months and within budget. This success led to the second broader engagement during which Meradia successfully:
- integrated data across leading industry vendors
- led the Account Data remapping and cleanup
- directed the effort to report on AUM and cash flow
This substantial body of data work resolved the client’s underlying problems in reporting and facilitated a far more robust and efficient client and management reporting process.