Integrations
BITA Risk®
BITA Risk® portfolio compliance and analytics specialists’ new REG-9 solution integrated with Addepar addresses current REG-9 challenges through flexible REG-9 and Unique Asset reviews, portfolio rule, risk and return monitoring. Extensive audit and management info back the holistic REG-9 report.
Automated portfolio data load from Addepar to BITA REG-9 via APIs. |
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Reference Data in sync and updated daily. |
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Easy to use through the modern Intuitive interface |
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Do It Yourself
To set up this integration, follow the instructions below and have your credentials ready. If you need help, contact Addepar support.
View Configuration Guide
Getting Started
To set up this integration, follow the instructions below and have your credentials ready. If you need help, contact Addepar support.
View Generations
Once you have access to the BITA Risk standard views set up for BITA REG-9, generate the seven views and provide the output csv extracts to BITA Risk support via SFTP. This should be based on UAT anonymised data.
Generate CSV
Generate CSV files based on the seven BITA Risk standard views.
Data Extraction
BITA Risk will review the data extracted and discuss with you if any additional custom fields should be added.
Configure the BITA REG-9
BITA Risk will then configure the BITA REG-9 system as part of the implementation project using the extracted data, taking into consideration your firm’s specific customizations.
Does the solution have pre-set Addepar views for Integration?
Yes, we have standard views covering the core data. Sometimes further views or configuration is required to accommodate a firm’s own data structure.
Can Addepar custom fields be included?
Yes, we can include custom fields
Does the solution use the Addepar asset classifications?
Yes, we use the asset classifications held in Addepar to provide a consistent view of a client’s holdings.
How does the solution reflect the Addepar Client | Entity | Account structure?
This will depend on how a firm has structured their clients, and we will generally reflect that. We support a client having one or more IPS, and within each IPS there maybe one or more holding account.
Can we add data from other sources?
Yes, data from other sources can be loaded in parallel with the addepar data
Will the solution support data display through Addepar dashboard widgets?
This is on the road map. The aim is to provide a seamless process and optimize the user experience through integration points such as the dashboard widgets.
How does the solution support annual Admin. REG 9 and unique asset Reviews?
In summary we provide:
- Individual checklists for Initial, Annual Admin, REG-9 and Unique Asset Reviews.
- Daily monitoring of portfolio rules and checklists for completeness and outstanding action as pre-checks for reviews.
- Exception management process to pause alerts and manage issues.
- Outstanding issue summaries per client.
- Review and sign off process for each checklist prior to the Review Report being sent for approval.
- Comprehensive Review Report giving holistic view.
- Alerts for Reviews due.
- User, manager and compliance oversight dashboards give instant status across clients, back up by extensive management information and audit reports.
How does the solution support Pre-Trade reviews?
Pre-trade portfolio rules can be checked in the Portfolio Modelling page of the application.
How does the solution support real estate / special / unique asset reviews?
We support these through sets of questions relevant to each special asset types. The user can add special assets within this framework for on-going review as part of the REG-9 process.
Each review type would have a Start Date, Last Review Date, Review Frequency and set of review questions. In addition, a dashboard dial would report reviews due in the next 30 days / overdue.
These question sets can be configured for a firm’s specific requirements.
If the solution has daily portfolio checks, how do you stop them repeating every day?
The user can pause an alert with the Known Exception function, so that they have a chance to take action or if it is client requested.
How does the solution support initial reviews for admin and Reg 9?
On the basis that the initial review is triggered by either account opening or first assets received and passed to BITA REG-9 as a trigger event and needs to be completed within 90 days of that date, it is alerted on the dashboard.
This initial review includes admin checks, conflicts of interest and portfolio rules. As relevant the answers are carried forward into the next Admin Review and REG-9 Review for the user to accept or update as necessary.
How does the solution support documents expiring?
Key documents would have an expiry date set within the check lists. It would then warn of dates expiring in the next 30 days or overdue via the dashboard and Monitor reports
How does the solution support performance monitoring?
Typically, we receive one and three year absolute or relative performance, that is then checked against tolerance ranges based upon the portfolio classification and peer group returns.
In addition, there is a suite of Management Information reports at mandate and advisor level analyzing dispersion.
How does the solution support flags for third party asset characteristics - for example bond quality?
Third party asset characteristics can be imported as asset metadata and then tests applied such as:
- maximum % in low quality bonds
- portfolio average bond quality configured as part of the Monitor flag set for checking.
How does the solution support overdrawn accounts flags?
Yes - we can test for permitted negative percentage weight of cash based on trade date cash.
How does the solution support different sign-off levels?
A review can be initiated by one user, signed off and sent to approval by a second, and approved by a third if required.
Does the solution have the ability to monitor asset characteristics within a portfolio?
Assets can be monitored according to attributes calculated by BITA and provided against them. Each asset can be individually flagged in the user interface and the portfolio tested for maximum exposures to assets with certain characteristics. Tests include:
- Maximum holding weight by asset type
- High risk assets and permitted portfolio exposure to them
- Potentially illiquid or off market assets and permitted portfolio exposure to them
- Non-approved asset lists and permitted portfolio exposure to them
- Restricted list assets and permitted portfolio exposure to them
- Prohibited product (eg alcohol) assets and permitted portfolio exposure to them
- Portfolio asset weight vs model asset weight (commonality) and permitted portfolio maximum difference.
- Bond minimum quality checks.