perfORM Operational Due Diligence Services

Co-led by two London based, highly reputable and experienced operational due diligence (ODD) professionals, perfORM is an innovative, highly flexible and technology driven third party ODD service offering.

perfORM provides asset owner* clients with a unique, cost effective way that fuses both practitioner ODD with a smart digital tool across traditional (long only) and alternatives (hedge, private markets).

perfORM offers asset owners ODD support that addresses:

  • The need for flexibility in the scope of review – our clients tell us they have different needs and priorities depending on their own circumstances;
  • The growing need for ODD in the traditional / long only funds market, and;
  • The need for a practitioner led, technology enabled ODD service at a much lower price point for the established alternatives space. We use a pricing model that is both affordable and where clients only pay for what they use.

Co-Head, James Newman developed and led the Global ODD group at Barclays Wealth. During his 8 years in the role, James was responsible for passing or failing operational risk assessments across the bank’s retail and non-retail investment product offerings. As a Chartered Accountant, James has over 20 years financial services experience including managing the UK compliance and operational functions for an investment manager.

Co-Head, Quentin Thom, is the former EU Head of Prime Brokerage consulting at Deutsche Bank where, for the past 5 years, he provided ODD focused services. Prior, he was UK Managing Director of a leading independent ODD provider for both managers and allocators. With a management consulting background, Quentin has over 20 years financial service experience.

*Asset owners include: Family offices; Sovereign Wealth Funds; Pension Funds; Investment Consultants; Banks; Asset Managers; Wealth Managers; Endowments; and Fund of funds

Overview

Please click here to download our 2-page summary:

Content

Mar 16th, 2020 – Delegate Oversight – Operational Risk Due Diligence podcast

Key takeaways:

  • Important to keep the DD questionnaire ‘alive’ and relevant – operational risks change.
  • Due Diligence skills are needed to carry out delegate checks – either acquire these internally or engage an expert.
  • Delegate onsites are only one item in the toolkit.  External verifications, reading policies, documents, fund financial statements are just as important.
  • Be challenging at onsites and ensure their targeted to make the most of everyone’s time. Use a third party to expertly execute, challenge and inform.
  • Use a risk based-approach when it comes to the frequency of operational risk reviews, and be prepared to perform ad-hoc reviews in response to events – e.g. investment manager entering a new product space, key man event, liquidity event, etc.

Please click here to listen.

Mar 12th, 2020 – ODD Practices on Liquid, Regulated Funds Webinar

Allocators who invest in funds and managers who offer daily liquidity need to perform ODD process as part of their investment monitoring to manage risk.

Regulators around the globe continue ramp up regulations to enforce appropriate disclosures from funds and encourage a better understanding of liquidity risk.

Please click here to listen to the replay.

Jan 8th, 2020 – ODD 2020 Outlook Webinar

We held the first of a series of moderated ODD webinars and discussed:

  • Liquidity;
  • Cyber Security;
  • Co-investing;
  • Key differences between Long Only and Hedge Fund ODD;
  • Senior Manager & Certification Regime (SMCR)
  • ESG Disclosure requirements; and
  • Securities Financing Transaction Regulation (SFTR).

Please click here to listen to the replay.

Co-Head
James Newman

“High profile cases of Woodford, H2O, GAM and Janus Henderson have turbo charged the need to perform robust and independent ODD.”

Co-Head
Quentin Thom

“perfORM provide clients with a unique, cost effective way that fuses both practitioner ODD with a smart digital tool across traditional (long only) and alternatives (hedge, private markets).”