La Meer Inc. specializes in building products and services for Risk Management. Our constant endeavour has been to stay abreast of the latest market, regulatory and customer needs in enterprise risk, operational risk management, regulatory compliance, corporate governance, operational due diligence and IT Governance. The domain expertise we have built and keen involvement and understanding of industry trends has helped us be early solution providers for the changed market needs. Our GRACE suite of web based software are best of breed software solutions based on industry best practices. They are based on best practices from:
Our solutions aim to create transparency within the organization to help you identify and address risks early. They also help you with enhanced srutiny from regulators, auditors, investors and your customers.
From a technology stand point our solutions are built on the state of the art technology that is scalable, secure and flexible and are offered both as a Software as a Solution (SaaS) that can be implemented on a hosted model and in an in-house model. The SaaS model of implementation can help you bring the solution to your business without any time spent to built up in-house infrastructure, database or technology skill sets.
Our solutions are modular so you could start using the modules based on your priorities and add other modules when you are ready.
The market crisis has left many banks facing increased liquidity issues and a portfolio that is not in the best of shapes and sometimes bankruptcy. Risk & oversight management have become part of fiduciary duties of the Board. Standard & Poor's (S&P) has declared that Enterprise Risk Management as one of the criteria for rating for corporations. Built around the COSO Model, GRACE-ERM addresses the needs of the Boards of Banks, Directors, Operational Risk Managers, Audit Leaders, Compliance Managers and IT Governance Managers for integrated risk management. It is a easy-to-use, efficient, and versatile tool that automates their day-to-day activities and enables them to implement Enterprise Risk Management (ERM). It provides a standardized framework for identifying and managing risks resulting from failed processes, people, systems and external events , non-adherence to defined procedures and non compliance to regulatory requirements. Early identification and corrective action can help the bank prevent monetary, reputation, legal losses and minimize mitigation costs and damages.
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Capital introduction in the current environment is one of the biggest challenges the alternate investment industry faces today. The Ponzi schemes, insider trading cases and other frauds on investors as well as the poor portfolio performance of the past 2 years have forced investors to increasingly look for transparency in operations and disclosures. Sound Operational practices in organizations and implementation of best practices in risk management are becoming necessary to become "Institutional Grade" to attract any institutional investments.
The Ponzi schemes, insider trading cases and other frauds on investors have led to the regulatory authorities conducting more frequent and stringent examinations at short notice.
Comprehensive visible, continuous and repeatable sound operational processes, due diligence, risk management and compliance are key to survival for alternate investment firms. These changes are forcing not just the hedge fund, fund of hedge fund, broker / dealers, registered investment advisors but also the service providers like hedge fund administrators, custodians, prime brokers to prove the soundness of their operational processes to stay competitive.
Trade allocation, portfolio management, valuation and market disclosures to investors are key areas of scrutiny by regulators because of all the Ponzi schemes, high visibility insider trading cases and huge investor losses that have happened in the past 2 years.
GRACE-CCO streamlines the Compliance officers' responsibilities and offers the compliance monitoring program for trading, gift reporting and market reporting processes in the organization. It enables them to define the compliance policies and procedures ensure that the code of ethics and trading practices are well understood by the staff, restricted watch lists are being adhered to as well as pre-approvals that are necessary for Employee trading and personal trading are sought and obtained. GRACE - CCO provides you with detail analytics, task management, risk identification, reporting and mitigation of compliance violations. GRACE-CCO by conducting ongoing tracking and monitoring of day to day activities prevents insider trading violations and provides auditable compliance data for audits and regulatory scrutiny.
GRACE-CCO automates the compliance management and oversight process through its comprehensive functions. It capture all documents, reviews and comments associated with these activities and provides a single repository of information that can be easily retrieved for audit purposes.
The market crisis has left many pensions, endowments, family offices, fund of hedge funds with massive losses to their portfolios. The fiduciary responsibility of the board to ensure that comprehensive due diligence is being conducted on all of the investment firms based on industry standards like AIMA (Alternate Investment Association) checklists has become a necessity. It is necessary to conduct stringent, standardized and sound due diligence not only during the selection process but also continue to monitor the firms on an ongoing basis. Our GRACE-ODD offers a solution to help you put together all the nformation gathered during the selection process, site visits and during the ongoing monitoring and record all red flags that are noticed so you can take corrective action early and prevent losses. It also helps you prove that you are conducting the investment management function as per your fiduciary responsibility.
Ensuring that the all money transactions within a bank, asset management organization in conformance to the Banking Security Act / Anti-Money Laundering Act is critical for regulatory compliance. GRACE-AML helps you put together your policies, procedures for adherence to the BSA/AML and set up internal controls and monitor issues on an ongoing basis. GRACE-AML helps you conduct Risk Assessments and audits of these processes to ensure that any risks in adherence are brought to light early and risk mitigation processes are put in place to ensure compliance.
One of the big operational risks being faced by the alternate investment organizations are the risks from outsourced vendors. Defining, conducting and managing process adherence as well as ensuring business continuity of the vendor and ensuring that the data needed is stored, kept under strict privacy rules and made available is critical. Though the function is outsourced when it comes to the investor and regulator the organization is ultimately and legally responsible. GRACE-Vendor provides a central repository of all the vendor due diligence, process definition and ongoing monitoring of vendors and allows risks to be identified and mitigated on an ongoing basis.
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Information Technology including the hardware, security, networks, firewalls as well as application management challenges to ensure compliance to regulatory requirements like Privacy of Customer Information, Sarbanes-Oxley and other regulations and identifying risks in IT processes and IT Controls is an ongoing task.
SAS 70 – is an internationally recognized third party assurance audit designed for service organizations. It has become the most widely accepted compliance initiative that provides service organizations a benchmark to compare their internal controls and processes against industry best practices. Statement on Auditing Standards No. 70 (SAS 70) was originally created in 1992 and over the past five to ten years become globally recognized as one of the highest forms of third party assurance.
SAS 70 Certification is being sought from every service provider, be they prime brokers, custodian, fund administrators in the financial services industry, Pharma or IT infrastructure provider. GRACE IT-GRC helps you build the framework of policies and procedures, keep track of your hardware, networking and application infrastructure as well as ensure the defined processes are adhered to by conducting periodic risk assessments, internal controls monitoring and audits. GRACE-IT GRC not only helps you attain the SAS 70 Certification but also maintain the same level of high customer service and business continuity and build your reputation as a reliable service provider.
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