isec.com
Background
ISEC Group AB is a leading fund administration company based in the Nordic region and manages 160+ funds and 3,000+ portfolio accounts with SEK 250 billion in assets. They offer a wide range of services to their clients, including fund accounting, transfer agency, Manco and risk management. ISEC is known for their exceptional customer service, and they take great pride in delivering high-quality work to its clients.
The teams use Daymi to help ISEC onboard staff and manage cross-border teams, maintain quality, and stay on top of SLAs and ISAE 3402 compliance.
CHALLENGES
- Managing cross-border teams
- Ensuring SLAs and ISAE3402 framework are met every day
- Proving compliant with ISAE3402 framework
- Managing growth, staff rotation and staff onboarding
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Challenges when growing fast
ISEC faced several challenges in managing their growing portfolio of funds and accounts, including onboarding new staff, managing cross-border teams, maintaining quality, and staying on top of their SLAs and ISAE 3402 compliance. Bo Liljengren, the Chairman of the Board and former CEO of ISEC, explains:
“We were managing all our clients and processes in multiple checklists coupled with work descriptions and many status meetings. It was time-consuming, error-prone, and difficult to keep track of everything.”
From Manual Checklists to Electronic Sign-offs
To address these challenges, ISEC turned to Daymi. Daymi provided ISEC with a centralized platform to manage all their processes, from daily recurring tasks like reconciliations and NAV calculations to monthly and yearly regulatory reporting. Daymi helped ISEC onboard new staff and manage cross-border teams by visualizing and describing processes step-by-step, minimizing the number of questions and errors. Liljengren says:
“Daymi allows us to rapidly onboard new employees. It is easy for the team to make sure it gets the attention needed before we miss a deadline.”
Since implementing Daymi, ISEC has been able to streamline their fund administration processes and deliver high-quality work to their clients. ISEC’s experience shows that by using Daymi, businesses can efficiently manage complex tasks while maintaining quality and meeting compliance requirements.
SOLUTION
Every ISAE3402-control is signed and stored in Daymi, allowing for quick retrieval of proof during audits
Across teams and locations, everyone now has access to realtime status of all processes, controls and deliverables.