Independent Processing of Your Bank Debt Portfolios

By: Bill Bormann

At SS&C GlobeOp® we work and partner with our clients to independently process our client's bank debt portfolios.  The definition of "independent" may mean different things to different people. Often it is the case that a hedge fund client's definition of "independent" is much different than a typical fund administrator's definition, which may result in expectation gaps and, as a result, errors may occur.

At SS&C GlobeOp, "independent" means the ability to work with the hedge fund manager to coordinate the flow of necessary information to us. Once we receive the information, we independently process the information to properly book and record trade settlements. From that point onwards, we process all the ongoing information relating to the bank debt portfolio to independently reconcile cash flows (expected and sometimes not expected), calculate accrued interest income at the contract level and independently be able to reconcile to third parties such as loan trustees, bank loan swap counterparties or you, the client. 

We are able to independently support all bank debt-related accounting entries in our books and records without the support of any client proprietary records as long as we have received the information. We are able to provide this level of service because of our superior technology and experienced staff.  Our technology permits the ability to track the nuances of the bank debt product, from contract-level details tracking to paydowns and drawdowns; and from to commitment fee tracking to calculating delayed compensation and economic benefit.  We have core staff with many years of experience handling this product type with more being trained each day. 

Our senior staff, drawn from the hedge fund manager side of the business, bring with them unique experience, guidance and perspective. We believe we have raised the bar of service to meet the demands of our clients. We also believe that offering this level of service helps minimize the operational risk for you and also focuses your staff on dealing with issues rather than with issues your fund administrator should already be able to sort through. We service clients with bank debt portfolios large and small and have a large base of reference-able clients.