Intermediary Audit Report Exceptions: Trends and Explanations - March 21, 2022

A core compliance activity for mutual fund managers is monitoring the operations of their intermediary partners that distribute fund shares. The most reliable and efficient means of satisfying these oversight obligations lies with audited control reports (SOC, FICCA) that describe each intermediary’s operating environment.   Since 2013, NQR has reviewed hundreds of these reports on…

Strengthening Intermediary Relationships With One of the Top Financial Service Providers - March 18, 2022

About the Company   Our client is one of the country’s leading financial service providers, delivering a range of banking, personal finance and wealth management solutions and services. For almost five decades, our client has been at the top of the industry, helping investors craft robust, personalized strategies that meet (and exceed) their financial needs.…

Enhancing Third-party Due Diligence Through Best Practices - March 17, 2022

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  The vendor risk landscape is rapidly evolving, and fostering third-party partnerships can expose organizations to any one of the following risks: Operational Financial Political Strategic Reputational The reality is that third-party due diligence has become one of the top priorities for organizations operating in all parts of the world. Many organizations are not employing…

Foreside Partners with NQR to Provide Intermediary Oversight Services - October 4, 2021

Foreside will deliver NQR’s Intermediary INSIGHT service to assist firms with their oversight of intermediary relationships       Portland, ME – September 28th, 2021:  Foreside Financial Group, LLC (Foreside), a provider of governance, risk management, compliance services, and technology offerings to clients in the global asset and wealth management industry, today announced a strategic partnership…

Case Study: How NQR Makes Fund Servicing Easier for Mid Atlantic Capital Group - February 25, 2021

  The Challenge   When Mid Atlantic Capital Group first began issuing a FICCA audit report to mutual fund partners, they were ahead of the game.  So far ahead, in fact, that detailed feedback and knowledge of FICCA best practices were scarce.   That’s where NQR came in, said Michele Coletti, COO of Trust &…

Northern Trust Partners with NQR to Offer Enhanced Mutual Fund Distribution Support - February 16, 2021

  Agreement to significantly reduce the burden of intermediary oversight expectations for mutual fund managers   Northern Trust has entered into an agreement with National Quality Review (NQR) to provide U.S. mutual fund managers with access to NQR Intermediary INSIGHT, a service that helps managers support their operational oversight of intermediary firms – entities which…

The Importance of Audit Reports to Mutual Fund Service Provider Oversight - December 8, 2020

  In today’s interdependent marketplace, it’s up to fund families to evaluate the compliance controls of their various vendors and service providers.  Taking into account the number of service providers a fund typically employs, the scale and complexity of these obligations becomes clear…   How did the industry arrive at this point and what options…

Ernst & Young Webinar: Third-Party Reporting on Internal Controls - September 18, 2020

       David Parks Executive Director Asset Management Advisory Ernst & Young Michael Gentile Senior Manager Financial Services Ernst & Young       How can fund families make the most of SOC and FICCA reports received from service providers and intermediaries?  Watch Ernst & Young and NQR discuss the foundations, trends, and best practices…

Deloitte, Ed Jones Among NQR’s 2019 Conference Speakers - August 20, 2019

  NQR is excited to share the session descriptions for our 2nd annual Intermediary INSIGHT Conference.  The one-day event, held on October 16, 2019 at the Seaport Hotel in Boston, will focus on the evolving oversight dynamics between audit firms, intermediaries, and fund families.  Click here to view the full agenda.     Audit Firm Presentation Christine Kotarba,…

Managing Omnibus Relationships with FICCA – An Intermediary’s Perspective - October 8, 2018

  “Very insightful!  Great discussion.” “Overall a great experience.” “Any opportunity with peers to discuss processes, achievements, pain points, etc., is extremely valuable.”   Only positive sentiments followed our first ever NQR Intermediary INSIGHT Client Conference earlier this year.  The event featured a keynote address from the Investment Company Institute (ICI), a client panel, roundtable discussions,…