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Iron Cove Blog

Check here for the latest Iron Cove Case Studies & Financial Services Related Blog Posts

Solution to Risk Management Concerns

Jan 20, 2012 5:12:15 PM

 

After speaking with 100's of COO, CFO's & CCO's of Asset Management Firms, their biggest gripe is the amount of time spent on the risk management function. From completing long-form applications to organizing droves of insurance related documentation, dealing with insurance has been painstaking and does have a direct impact to the firm.

"I would be better served spending more time on compliance and accounting then I would be trying to organize and compartmentalize all of our insurance documents" said one CFO of a $2billion NYC based Hedge Fund.

Given that many CFO's wear a variety of hats for their firm, dealing with insurance and risk management can truly take away from other and more important day-to-day functions:

  • Accounting;
  • Compliance;
  • Portfolio Management; &
  • Other

Time away from more important day-to-day functions effect bottom line profitability and long-term sustainability of any asset management firm.

We have found that our suite of products and services helps our clients focus on what is most important and takes unnecessary work off of their desks.

Below I have included a link to our 24/7 client portal demo. This demo illustrates how our online portal can help you organize and manage all of your firms insurance related documentation as well as keep abreast of all the firms insurance policies.

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Tags: insurance, agency, asset managers, Iron Cove Posts, brokerage, directors and officers liability, Errors and Omissions, hedge fund, largest, Lou D'Agostino, louis d'agostino, Private Equity, property & casualty

Dodd-Frank Requires the need to hire a Chief Compliance Officer: Is the CCO Adequately Protected??

Jun 25, 2011 11:30:01 AM

The Dodd–Frank Wall Street Reform and Consumer Protection Act, is a federal statute signed into law on July 21, 2010.  The Act offers many sweeping changes to the financial regulatory environment and affects almost every aspect of the nation’s financial services industry.  Under the Act, investment managers/advisers to private equity funds and all private investment funds will have to register as investment advisers with the SEC no later than July 21, 2011. There is a provision that exempts managers of private equity funds with less than $150 million in assets under management from registering.  If you do not fall within the exemption, then failing to register would constitute a willful violation of the act.

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Tags: accredited investor, Insurance, insurance, allocations, Iron Cove Posts, Chief Compliance Officer, Cyber & Privacy Liability, directors and officers, Directors & Officers Liability, Dodd-Frank, dodd-frank, Errors and Omissions, hedge fund, Management Liability, Professional Liability, Property & Casualty, Reform, Regulation, regulation, SEC, SEC Investigations

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