In this video, Daymi’s CEO Carl-Fredrik had a chat with Limina’s co-founder Kristoffer Fürst about the background of Daymi as an internal tool for almost ten years before turning it into a standalone product and the challenges of running Operations today.
Kristoffer Fürst, with front office experience from both buy- and sellside, founded Limina an Investment Management system built for efficiency with true exception based workflows.
Watch or read the interview here: https://www.limina.com/blog/asset-management-operations
In Carl-Fredrik’s role as head of operations, his team of 40 people was servicing 250 funds. To understand all the processes, they initiated a project to map them all out. They ended up with 70 pages of excellent flowcharts and saw some opportunities to streamline now that Carl-Fredrik and his team could see all processes.
The document was also a solid basis for the operational due diligence of the investment managers they serviced. But such a document was going to be outdated shortly. And it wasn’t helpful for day-to-day work, just for follow-up and training.
In the day-to-day work, calendars were still full of various alarms and reminders. When a deadline was missed, the response was the same old “add more duality” checks. And if someone didn’t know how a part of a process worked, colleagues were relied upon because that flowchart was already outdated. This wasn’t optimal operational risk management.