AAM Logo ReconNET Creates New Efficiencies and Increases Productivity
Overview
Founded in 1982, AAM is an independent investment advisor specializing in managing high quality fixed income portfolios exclusively for insurance companies; clients are nearly evenly split between Life & Health and Property & Casualty. The company manages $14.92 billion in assets with 89 insurance company clients in 27 states, Bermuda and the Cayman Islands.
Challenges
AAM required an automated solution that would help them reconcile transactions and positions associated with their investment accounts. Approximately 193 investment accounts required transaction and position reconciliation. AAM had an intensive and time-consuming manual reconciliation process using a variety of methods. When the company brought in a large client, a new staff member was required to manage the account. AAM wanted an automated solution that would allow them to expand their client base, manage a significant volume of transactions and positions without having to increase personnel, and allow current personnel to assume additional responsibilities.
Objectives
- Eliminate manual processes and improve workflow efficiencies
- Increase the effectiveness of operations, accounting, and investment staff
- Improve timeliness of daily and monthly reporting
- Improve audit processes
- Cost-effective solution
Capabilities Provided
Trintech’s ReconNET provides AAM with the following:
- Automated processes that improve productivity
- Automated daily cash reconciliation and reporting
- Automated monthly position reconciliation and reporting
- Ability to manage the entire system without additional IT support
- Ability to deploy resources to other areas critical to their business
Testimonial
“A reconciliation is a reconciliation. Though ReconNET wasn’t geared to reconciling our types of transactions, we knew that Trintech could adapt the product to do so. We looked at a variety of solutions and chose ReconNET for its capabilities and the people who back it up.” - Lori Waite, Asst. Vice President, Performance Analytics & Investment Operations
Other Information
For more information on how you too can create new efficiencies and increase productivity with ReconNET, contact Trintech today.
