UC-402
NAV Oversight & Fund Accounting Breaks
Checks each administrator NAV pack against independent pricing and the firm's own books, and explains every break before the NAV is signed.
TBDBuild Duration
XXXXIndicative ROI
XXXXBuild Cost
XXXXValue
The Challenge
Oversight of the fund administrator is done by sampling a few prices against a tolerance before the NAV deadline. When a break appears there is no time to find its cause, so it is accepted and repeats.
How It Works
- Reads the administrator NAV pack, pricing files, trade and position records and fee schedules.
- Recomputes valuation, accruals and fees and classifies each break by cause and repeat history.
- Returns a break list with owner and cause to fund oversight before the NAV signing cut-off.
What It Removes
- Sampling prices against tolerance before the deadline
- Rekeying administrator NAV figures into a checker
- Re-investigating the same recurring pricing break
Input Data RequirementsAdministrator NAV packs, independent pricing files, trade and position records, corporate action entitlements, fee schedules, tolerance policy
Output FormatPre-sign-off break register with cause, owner and repeat count per fund, plus a monthly administrator scorecard on pricing and accrual accuracy
“We sign the NAV because the deadline arrives, not because we have finished checking it.”