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Resources Whitepaper

Optimize Audit Report Review Using NQR’s Intermediary (IM) INSIGHT Service

What if there was a cost-effective way to improve labor-intensive processes and free your most knowledgeable resources to focus on other oversight activities?

That is what National Quality Review’s IM INSIGHT service does. Download the whitepaper to learn more about NQR’s IM INSIGHT service.

NQR’s IM INSIGHT service

NQR created IM INSIGHT to review the full range of audit documents on behalf of asset managers — including SOC1, SOC2, and FICCA audit documents — to identify gaps.

IM INSIGHT provides clients with a centralized platform that hosts their critical intermediary audit documents in a single location. As part of this service, the NQR team conducts thorough reviews of relevant information and displays output in a consistent framework informed by the FICCA’s 17 areas of focus.

NQR translates the FICCA’s 17 areas of focus into a detailed multi-point framework, enabling clients to focus on specific control topics that may necessitate a more in-depth review.

Comprehensive range of intermediary oversight activity features

NQR’s IM INSIGHT service saves clients time and resources, which they can devote to other intermediary oversight activities.

Key benefits of NQR’s IM INSIGHT include:

  • More efficient and effective audit report reviews: Clients outsource audit report review to NQR’s in-house team of experts, who will review audit documents and provide a gap analysis. NQR will also capture exceptions and highlight them in reporting so clients can easily see where to focus their oversight activities.
  • Centralize all intermediary oversight activities in one location: Clients can leverage the platform’s solicitation function to manage and track progress when requesting and receiving intermediary audit reports. They can also view FINRA disciplinary history to learn about any disciplinary action taken against distribution partners, saving them from manually checking the FINRA BrokerCheck database themselves.
  • Priority rankings for industry benchmarking: IM INSIGHT allows clients to priority rank the controls that are most important and relevant to their business. They can also see how the industry at large ranks certain controls. This benchmarking information is helpful in board conversations around applying the appropriate level of rigor to specific oversight topics.
  • Digital service with a personal touch: IM INSIGHT is a content- and knowledge-based service backed by professionals with decades of industry experience. Clients receive unlimited access to NQR’s dedicated client success managers, who provide consultative support and help clients identify oversight best practices.
  • Access to the wider community: Clients can access the wider community of asset managers through NQR-hosted quarterly user group calls and NQR’s annual conference. These events provide clients with opportunities to communicate with both NQR experts and industry peers regarding numerous oversight topics.
  • Direct relationships with intermediaries: Since 2016, NQR has built strong working relationships with a number of intermediaries in the industry. NQR’s direct relationships help save our clients’ time and resources during the solicitation process.

NQR’s IM INSIGHT facilitates enhanced productivity and efficiency to help funds stay ahead of a rapidly changing financial services market.

Download the whitepaper to learn more about the core features of IM INSIGHT.

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