Gravitas Enhances Its Risk Assessment Service to Align Alternative Investment Clients With President's Working Group Recommendations

Gravitas Technology, the leader in providing technology   services   to   the   alternative   investment   management   industry,   today announced  the  enhancement  of  its  Operational  Risk  and  Technology  Assessment service,   to   help   its   hedge   funds   clients   adapt   to   the   latest   best   practice recommendations from the President’s Working Group on Financial Markets (PWG).  

“The PWG’s initial recommendations, released in April 2008, provide a compelling case for hedge funds to begin implementing best practices in their systems and processes. Gravitas’ newly adapted Operational Risk and Technology Assessment service is ahead of the curve in providing firms with risk mitigation in their critical business processes and the  applications  that  support  them,”  says  Jayesh  Punater,  President  and  CEO  of Gravitas Technology.

Gravitas’ Operational Risk and Technology Assessment service provides clients with a roadmap to achieving best practices, and offers implementation of systems and processes to alleviate investor scrutiny of a manager’s policies and procedures. The components of the Operational Risk and Technology Assessment are a high-level front, middle- and back-office business workflow review, documentation of existing process flows and functions, an operational gap analysis, identification of stress points, and recommendations on process improvement or system (application) changes.

The review culminates with formal recommendations on process flows best practices, a policy and procedures manual, and a technology roadmap and a future state operations and technology blueprint the fund should work towards to align itself with the PWG’s best practice recommendations.

“With the investment landscape growing in complexity due to difficult market conditions, the bar has been raised for larger asset managers to strengthen their infrastructure and risk  management  practices,  in  order  to  gain  investor  confidence.  The  Gravitas Operational Risk and Technology Assessment provides firms with a flexible approach to implement best practices as they evolve,” concludes Mr. Punater.

About Gravitas Technology Services, LLC.

Gravitas Technology Services, LLC has been providing a broad range of IT services to both established and start-up financial services firms since 1996. The company’s unique white glove approach in servicing clients integrated with a holistic view of technology that combines consulting, software development and systems integration services has made Gravitas an  established  IT  leader  in  the  Alternative  Investment  Industry.  Gravitas’ customers include an impressive portfolio of financial services firms, spanning hedge funds, private equity funds, brokerage firms, investment banks and traditional asset management firms. For more information, please visit:  www.gravitastechnology.com.