Northern Trust has expanded its Front Office Solutions product set to include a suite of risk management capabilities, enabling asset owners to review and assess the operational strengths and risks of investment managers, including those managing alternative strategies such as hedge funds, private equity funds, real assets and direct investments.
Designed to support the needs of sophisticated institutional asset owners, the Operational Risk Management Solutions suite includes detailed operational due diligence assessments. Additional enhanced services such as operational risk monitoring are also under development, including capabilities for limited partnership agreement (LPA) compliance, fund fee analysis and regulatory monitoring.
Operational Risk Management Solutions will be led by Vincent Molino, a 15-year industry veteran who joined Northern Trust in July 2019. Molino has extensive experience in analyzing the investment operations of complex investment managers and assessing operational processes and risks across all asset classes, including alternative assets.
“Complex asset owners have focused their efforts around operational risk management in the decade since the global financial crisis,” said Melanie Pickett, head of Front Office Solutions at Northern Trust. “With our enhanced due diligence capabilities and the strong leadership of Vin Molino, the launch of Operational Risk Management Solutions marks a new chapter in Northern Trust’s strategy to support the evolving needs of asset owners across the globe, going beyond traditional asset servicing offerings.”
Front Office Solutions is a strategic growth business for Northern Trust centered on meeting the investment, operational and technology needs of complex asset owners. Clients benefit from a differentiated shared digital and service platform that enhances traditional custodial services, integrates complex investment data into one system, streamlines the investment process and facilitates communication and sharing across teams – all with the goal of lowering operational risk and enabling smarter and more efficient investment decisions.