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On which business day before month-end is the process to 'Load prelim expenses/accruals to Geneva' scheduled to occur? | The task is scheduled for BD -1. |
What is the prerequisite step that must be completed before the 'SC and GP Cap Activity' task can begin? | The task is unblocked by Request wires for feeders to the master |
What is the primary purpose of the 'Prelim review of monthly expenses/accruals' task? | The task ensures expenses are correct before posting into Geneva. |
Which systems are involved in the 'Request wires for feeders to the master' task? | The systems involved are Beacon, CAM, ICAT (iCAT), and Geneva. |
What is the automation level and risk level for the initial 'Send monthly close calendar to EXL' task? | The task is Manual for automation and has a Low risk level. |
Which tasks are tied to investor reporting or communications? | The following tasks are tied to investor reporting or communications:
• Save final closed projection for IR, BD08
• Send Net Performance (inception) files to IR, BD08
• Send monthly AUM file to IR, BD08
• Send Ownerships (feeders of master) to FAA, BD02
• Add post close ownerships to WHT Percent File, BD06
• Send IPO ... |
Where in the process do we confirm wire settlements or funding movements? | The following tasks involve confirming wire settlements or funding movements:
• Request wires for feeders to master, BD-2
• Ensure advisory fee wire is released, BD07
• Liability Settlements Quarterly, BD15 |
Which steps are part of NAV calculation or feed into it? | The following steps are part of the NAV calculation or feed into it:
Direct NAV inputs from Geneva
• Prelim review of monthly expenses and accruals, BD-2
• SC and GP capital activity, BD-2
• Load prelim expenses and accruals to Geneva, BD-1
• Publish BD1 NAV, BD-1
• Send NAV estimates, BD02
• Send Ownerships (feeders ... |
Which steps tie to intercompany or internal fund transfers? | The following tasks related to intercompany fund transfers:
Feeder Fund Expense Allocations (BD 01)
Request wires for feeders to the master (BD01)
Final Check of Intercompany Activity (BD02)
Send Advisory fee and SC Income (BD04)
Ensure advisory fee wire is released (BD07)
Liability Settlements Quarterly (BD15) |
Today is the start of BD02. What are the next tasks in the process for IR to complete? | The upcoming tasks for IR include:
Post MTD Estimate PDFs and Excel Files (BD02)
Communicate IPO income to investors if required (BD02)
Post MTD Estimates to IR portal (BD03)
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Which steps involve sign-offs or approvals, and who’s listed as responsible for each? | Review final Geneva & ICAT workpapers, IR sign off (BD05)
Save final closed projection for IR, IR sign off (BD08)
Send Net Performance (inception) files to IR, IR sign off (BD08) |
Show me which parts of the close process present the highest compliance or audit risk and why. | Reconcile IR Log capital activity (Owner: PIA, BD01): Errors or omissions in capital activity reconciliation can result in incorrect ownership records, fee calculations, and investor allocations.
Update SC Reporting Type for new investors in SC (Owner: PIA, BD01): Misclassification of investors can lead to incorrect r... |
How can I tell if the step Update SC Reporting Type for new investors in iCAT has been completed? | IR sends confirmation that SC reporting type for all new investors is populated in iCAT. |
What steps have to be completed before I can do the final check of intercompany activity? | Before you can do the final check of Intercompany Activity, the following must be complete:
Load prelim expenses/accruals to Geneva (BD-1)
Feeder Fund Expense Allocations (BD01) |
Which steps are directly unlocked by the BD02 task Prepare MTD Estimate PDFs and Excel? | Prepare MTD Estimate PDFs and Excel (BD02) directly unlocks the following steps:
Send IPO for Aurum (BD02)
Send NAV estimates (BD02)
Advise IROps to send out MTD Estimates (BD03) |
What will be the delay on the BD06 step Send final post-close NAV to reg reporting if the BD03 task Reconcile GVA books with statements and WorkDay is delayed by 2 days? | The impact would be as follows.
The BD06 step Send final post-close NAV to reg reporting is downstream of Reconcile GVA books with statements and WorkDay (BD03) because regulatory NAV reporting relies on reconciled and finalized books. If the BD03 reconciliation task is delayed by 2 business days, it no longer complet... |
As part of the MTD estimates distribution process, which stakeholders are included on the formal communications coordinated through IROps | The formal emails are sent to IR & Senior Management |
Within the process of sharing LP ownership information for feeder funds, which investor threshold requires Legal notification ? | Legal must be notified of investors who own 15% or more of a feeder fund as of BD1, excluding SC accounts. |
As part of the monthly dissemination of net performance data to IR, what is the expected timing, what information is provided? | Within 2 business days (ideally 1 business day) following investor statement distribution, monthly net returns since inception (Excel files) are sent to IR team |
During the monthly BD08 close process, which activity is completed only after performance estimates are reconciled to final results, material variances are analyzed, and Finance leadership approval is obtained? | Estimate to actual reconciliation |
Regarding the BD 01 step to Update SC Reporting Type for new investors in iCAT, what is the compliance goal of this activity, and how is completion confirmed? | The compliance goal is to ensure regulatory filings (like Form PF) reflect the correct classifications. Completion is confirmed once the SC reporting type for all new investors is populated in iCAT and confirmed as correct by IR. |
What tasks should start at BD 03? | Advise IRops to send out MTD Estimates; Confirm PI Positions < 5% NAV; Reconcile GVA books with statment and Workday |
Explain why some tasks have high risk | - (Request wires for feeders to the master) is high risk because it requires manual approvals, and the CAM/ICAT integration is fragmented.
- (Feeder Fund Expense Allocations) is high risk due to manual tagging, which is prone to feeder misallocation.
- (Reconcile IR log) is high risk due to manual cross-system checks... |
How long does the month close process take? | The process runs from BD-3 to BD-20 or later. The core close runs from BD1 to BD6, the reporting and sign-offs run from BD8 to BD20, for a total of 18 or more business days. |
What systems are used? | - Geneva: Primary accounting system
- ICAT (iCAT): Investor capital accounting and tracking
- Workday: Expense and invoice management
- Beacon: Investor relations system tracking subscriptions/redemptions
- CAM: Cash Activity Management for wire tracking
- SS&C Advent: External administrator's system |
What is the specific purpose of the "Feeder Fund Expense Allocations" task | This task involves determining feeder-specific expenses and calculating proper adjustments in the iCAT system. Its purpose is to prevent the misallocation of expenses, ensuring fairness among investors and strict compliance with the Limited Partnership Agreement (LPA). |
Why must the "Prelim review of monthly expenses/accruals" happen on BD -2 before other steps? | This task ensures all expenses are correct before being posted into Geneva. This is achieved by reviewing all expenses booked in Workday, adding them to the monthly expense file, and rolling forward any necessary accruals. |
What is the role of the "Estimate to actual reconciliation" task | This task acts as a quality control metric. It compares the estimated returns calculated on BD 01 with the actual finalized returns on BD 08. Any material difference (specifically greater than 20 basis points) must be explained and approved by the head of finance. |
On which business day is the "Save Performance Projection for FPA" task (Task 9) scheduled to occur? | The task is scheduled for BD 01. |
What are the prerequisite steps that must be completed before the "Update SC Reporting Type for new investors in iCAT" task (Task 10) can begin? | The task is unblocked by Step 8 ("Reconcile IR Log capital activity"), Step 3 ("Request wires for feeders to the master"), and Step 4 ("SC and GP Cap Activity"). |
What is the primary purpose of the "Reconcile IR Log capital activity" task (Task 8)? | The task ensures the accuracy of investor records to avoid misallocation or compliance issues by comparing Beacon entries against CAM and ICAT records. |
Which systems are involved in the "Publish BD1 NAV (not 1st of month) to Risk NAV" task (Task 6)? | The systems involved are Geneva, Grid, and ICAT (iCAT). |
What is the automation level and risk level for the "Final Check of Intercompany Activity" task (Task 11)? | The task is Manual for automation and has a Medium risk level. |
how risky the task of Sending limited partners ownership of feeder data? | Low risk level |
How Save Final Closed Performance for FPA task is communicated | An extrernal communication should take place with the following:
Sender: Financial Planning Team
Recipient: SC team
Content: How much trading P&L was generated, how much incentives was generated |
how to know if task SC and GP Cap Activity is completed successfully? | Email the Head of Finance and IR: Announce the GP/SC investment and secure the Head of Finance's formal approval to action it. Include a request for any necessary support. Approval = Complete. |
List all independant tasks | Our MEC process has 10 independant tasks:
1. Send monthly close calendar to EXL
2. Prelim review of monthly expenses/accruals
3. Request wires for feeders to the master
4. Publish BD1 NAV (not 1st of month) to Risk NAV
5. Allocations for GP
6. Liability Settlements Quarterly
7. Approve Risk NAV in ICAT
8. Send daily fu... |
How many of the independant tasks should be done daily?
list their names and along with systems that are involved in them | Approve Risk NAV in ICAT -- No systems are involved
Send daily fund performance (capital roll) to margin -- Email
Send daily Theoreticals to Valuations -- Email |
which team is with the highest involvment in the MEC process | PIA team |
list all teams that are involved in the MEC process | PIA
Corporate Accounting
IR
Treasury
Asset Allocation
Tech Team
Regulatory (Reg)
Valuation
P&L
FPA
Senior Management
FAA
Brokers
Ops
DFA
SS&C
Controller
Portfolio Management
Head of Finance
Legal
Risk Team |
which tasks (list their names) are executed only under certain conditions | Send monthly close calendar to EXL
SC and GP Cap Activity
Final Check of Intercompany Activity
Review SS&C books and allocation (master)
Add post-close ownerships (feeders of master) to WHT % File
Send final y-summary to Controllers team
Sign off on SS&C Turion feeder workpapers (TB,Allocation, Val Rpt, P&L)
Send LP ow... |
Which is the busiest business day in our process? | BD 04 is the busiest business day with 86 assigned tasks |
List all tasks with just 1 upstream dependency | SC and GP Cap Activity
Load prelim expenses/accruals to Geneva
Send Ownerships (feeders of master) to FAA
Advise IROps to send out MTD Estimates.
Confirm PI positions < 5% NAV
DFA/Val/Ops signoff on Master books
Review SS&C books and allocation (master)
Review SS&C books and allocation (feeders)
Send final y-summary to... |
What does EXL mean in the MEC? | Service provider that helps various teams within finance (contractors that do similar tasks to ourselves - work with an adjacent team, any similar processes we try to send combined sendouts as applicable) |
Is the task 'Send monthly close calendar to EXL' dependent on 'Load prelim expenses/accruals to Geneva'? | No |
What tasks are blocked by the Send Ownerships feed to FAA? | Add post-close ownerships (feeders of master) to WHT % File |
What risk level is documented for 'Send Margin post close ownerships'? | Not provided |
Identify the teams responsible for 'Advise IROps to send out MTD Estimates.' | - Ops
- IR |
What is the automation status listed for 'Send Margin post close ownerships' ? | Manual |
What are the possible risks for task 'Load prelim expenses/accruals to Geneva'? | Manual loader; reliance on tech; late changes difficult. |
How many high risk and high effort tasks do we have? list them | There are 1 high risk and high effort tasks, Review SS&C books and allocation (master) |
How many tasks are done using Geneva, and what are their titles?/Which tasks involve Geneva? | There are 26 tasks done using Geneva: Prelim review of monthly expenses/accruals; Request wires for feeders to the master; SC and GP Cap Activity; Load prelim expenses/accruals to Geneva; Publish BD1 NAV (not 1st of month) to Risk NAV; Feeder Fund Expense Allocations; Save Performance Projection for FPA; Final Check of... |
What are the possible risks for task 'Send Net Performance (inception) files to IR'? | the reformated data may differ from the real data |
Which systems are associated with task 'Confirm PI positions < 5% NAV' ? | Geneva |
When can 'SC and GP Cap Activity' be skipped? | if there is no moving cash from Steve Cohen or any General Partner to invest in or remove from the fund |
What does 'reg team' stand for in MEC? | Regulatory reporting team - they handle all regulatory filings and therefore we communicate certain financial metrics to them monthly/quarterly/ yearly. |
What is the percentage of unique external communicational tasks? | 10 of 53 tasks are external communication, which is 18.87%. |
What event or deliverable signals the completion of task 'Send monthly deliverables to financial reporting' ? | All relevant deliverables are saved to a particular folder for financial reporting to begin mapping/ creating workflows to draft financial reporting, utilize for risk reports, etc. |
How many unique accounting tasks are there in total? | There are 23 accounting tasks in total. |
What is the purpose of 'Load prelim expenses/accruals to Geneva'? | Ensures expenses hit Geneva before NAV prep; creates a base for close. |
What does risk NAV mean? | - It is an earlier estimate of the fund's NAV, calculated on BD1, prior to the official close (which happens around BD4/BD5). The term "Risk NAV" specifically refers to the communication step where the BD1 NAV snapshot is published to the Risk team for downstream monitoring.
-- Risk NAV - just a step where we share the... |
How is the effort for 'Save Performance Projection for FPA' categorized? | Low |
What are the prerequisites for task 'Reconcile IR Log capital activity' ? | Request wires for feeders to the master; Feeder Fund Expense Allocations
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What is the risk level assigned to 'Send monthly AUM file to IR'? | Low |
List all tasks that the 'IR' team contributes to. | Request wires for feeders to the master; Reconcile IR Log capital activity; Update SC Reporting Type for new investors in iCAT; Prepare MTD Estimate PDFs and Excel; Send IPO for Aurum; Send NAV estimates; Advise IROps to send out MTD Estimates; Review final Geneva & ICAT workpapers; Save final closed projection for IR;... |
Is the task 'Feeder Fund Expense Allocations' dependent on 'Load prelim expenses/accruals to Geneva'? | Yes |
If task 'Load prelim expenses/accruals to Geneva' is delayed, what tasks will be directly affected? | Feeder Fund Expense; AllocationsSave Performance; Projection for FPAFinal Check of Intercompany Activity |
When can 'Send monthly close calendar to EXL' be skipped? | if closing date is not different from standard |
Are there any BDs that have no tasks ? | BD 9 - 11 - 12 - 13 - 14 - 16 - 17 - 18 - 19 |
where are we stand in the process ? / What is our status in the process ? | null |
What tasks are scheduled for BD 2? | Send daily Theoreticals to Valuations; Approve Risk NAV in ICAT; Final Check of Intercompany Activity; Send daily fund performance (capital roll) to margin; Prepare MTD Estimate PDFs and Excel; Send IPO for Aurum; Send NAV estimates; Send Ownerships (feeders of master) to FAA |
What tasks are scheduled for BD -1? | Send daily fund performance (capital roll) to margin; Send daily Theoreticals to Valuations; Publish BD1 NAV (not 1st of month) to Risk NAV; Approve Risk NAV in ICAT; Load prelim expenses/accruals to Geneva |
What tasks are scheduled for 8.9.2025? | Review final Geneva & ICAT workpapers; Send daily fund performance (capital roll) to margin; Send daily Theoreticals to Valuations; Send GRID upload to controllers group; Approve Risk NAV in ICAT; Review SS&C books and allocation (feeders); Sign off on SS&C Turion Master workpapers (TB, Allocation, Val Rpt, P&L) |
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