Internal Audit of Investment Process for Global Asset Manager
Risk Management Consulting
 
 
Xcina Case Study

Internal Audit of Investment Process for Global Asset Manager

The client

A leading global asset manager with over  £350 billion in assets under management (AUM) that provides a broad range of actively managed investment strategies and solutions for individual, institutional and corporate clients. The asset manager has a presence in Europe, Middle East, AsiaPacific, North America and South America.

The work

We performed an internal audit review covering a key front-office investment desk managing several flagship funds. The Client wanted the existing audit programme to be significantly enhanced and to reflect best practice as although audits had been undertaken in this area in the recent past the audit programme has remained largely unchanged.

How we helped

We assigned experienced subject matter experts to review the existing audit programme and enhance it as appropriate ensuring that it addressed key risks, demonstrated leading practices, and accounted for the firm’s business operating model and regulatory environment. Working with the Client, we identified additional key risks especially with respect to market and regulatory developments an designed and executed appropriate audit tests. Following the successful execution of the audit our consultants worked with relevant stakeholders to determine suitable recommendations that were pragmatic and adequately mitigated the identified weaknesses and control gaps.

Value added

Our external perspectives, industry knowledge and expertise combined with the Client’s intimate knowledge of its operations enabled us to bring more rigour, challenge and robustness to the audit. We established a high benchmark for the Client’s future audits. Moreover, we brought market insights, leading practices and incorporated the latest market and regulatory developments in front office controls and supervision, which were all reflected in our recommendations. In addition, we went above and beyond  and identified gaps and proposed enhancements in related areas which were outside the audit scope.

Industry and sector:

Financial Services

Solutions and service area:

What our clients say

"Xcina is always responsive to any question we have during the time we are implementing data protection remediation activities, they keep us informed and understand what we need and what we’re trying to do. "

Getac Technology Corp, Legal Affairs Center

"Xcina is always responsive to any question we have during the time we are implementing data protection remediation activities, they keep us informed and understand what we need and what we’re trying to do."

ParkMobileUK, Managing Director

"Xcina Consulting performed an annual review of our card data environment, and ensured that we are compliant with the PCI-DSS. We continue to work with their experienced QSAs, leveraging their guidance and best practices so we have the highest possible level of security controls in place."

DKB Brands, Data Protection Officer

"Xcina really helped us to kick start our data protection compliance process. They took the time to speak to all departments of the business and outlined our highest risk to lowest risk areas. The insight and guidance they provided was essential for our business to become GDPR compliant."

Portman Settled Estates Limited, Estate Secretary

"Xcina’s ongoing support has ensured that our employees feel confident when dealing with data protection matters, with best practice knowledge and expertise from consultants who have taken the time to get to know our business and our industry."

National Bank of Kuwait, Compliance Officer

"Xcina worked with us on a number of data protection matters, including subject access requests and gave helpful, practical advice which reflected their understanding of technology issues as well as legal matters."

Your World Recruitment, Group IT Director

"We have worked with with Xcina successfully for two years, initially on internal GDPR GAP analysis. We now have them engaged as our ‘Virtual DPO’ provider and regularly receive useful, pragmatic and, more importantly, actionable advice on all areas of Data Protection."

Quadrangle Research, Group Chief Operating Officer

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