Back Office Practice
Services of the Back Office Practice
- Process review and improvement
- System selection, implementation and optimization for core fund and group systems, as well as specialist add-on tools (e.g. treasury, regulatory and compliance solutions)
- Corporate and group accounting change programs
- Fund administrator review and benchmarking, covering processes, operating model and relationship management
- Fund administrator selection and onboarding
Examples of Our Back Office Projects
A leading Technology Venture Capital Manager
A holistic project setting up a scalable, digitalized Finance function
Recently founded, the firm had huge growth ambitions, which they wanted to fulfil with a lean internal Finance team. They engaged Holland Mountain to design a best practice Finance Target Operating Model, and to deliver a program to select and implement a range of technology, including GL, FP&A, Entity Management, Accounts Payable, Expenses, HR & Compliance solutions. We also conducted an in-depth review of outsourced services to optimize processes between the firm & its fund administrator.
Strategic Review of Finance Function
A pan-European, multi-private asset class manager
A detailed review of finance processes, technology, outsourced services and reporting/data capabilities
The firm engaged Holland Mountain to conduct a deep-dive review of the Finance function, to establish how the business could become more self-servicing with data & reporting and enable better forecasting capabilities. Holland Mountain worked with the business to assess the current processes, technology, outsourced services and reporting/data. We designed a Finance Target Operating Model, underpinned by detailed recommendations for each area. We since continued working with the business to manage the implementation of the recommended change.
Fund Administrator Selection
A large, global alternative investment manager
A multi-strategy, multi-jurisdictional fund administrator requirements and selection project
The firm had historically managed fund accounting & administration in-house and wanted to move to an outsourced model. We worked with the business to document their requirements and advised them on the landscape of fund administrators that would be able to meet them. We then managed a full RFP process to select and test the best-suited fund administrator. We advised the firm through the contract negotiation process, ensuring the relationship & commercial model was set up optimally and in line with best practice from the outset.
Payment Process & Cyber Risk Review
A leading, global Private Equity & Private Credit Manager
A detailed review of payment-related processes across the firm and its fund administrator
The firm wanted to ensure that the right controls were in place to manage risk. They engaged Holland Mountain to conduct a detailed, multi-jurisdictional review of all payment-related processes, to validate that the required controls were in place and identify any potential improvements. Holland Mountain’s review identified a number of recommendations, improving controls, as well as improving wider efficiency and scalability. We provided the firm with everything needed to immediately address the recommendations and have worked with them since to support the implementation of the recommended change.
Fund Finance System Implementation
A large, listed multi-asset class manager
Fund accounting, administration & reporting requirements gathering, system implementation and data migration, covering both Private Equity & Private Credit
The firm needed to put a fund accounting, administration and reporting solution in place. The business engaged Holland Mountain to lead a project to gather the Private Credit and Private Equity teams’ comprehensive fund accounting, administration & reporting requirements. Once the system had been selected (Vitech V3), Holland Mountain managed the migration of all data from spreadsheets and a legacy system onto V3. We went through significant work with the software vendor to develop V3 to handle the firm’s complex requirements.
Fund Finance Operational Strategy Review
A multi Private asset class manager owned by a Pension Fund
A deep drive review of the Fund Finance Function to prepare for implementation of a data platform
The firm had three key strategic objectives for its Private Markets function. They wanted to enhance forecasting capabilities, to establish how the function could become more self servicing with data, and to prepare for the future implementation of a data platform. The firm engaged Holland Mountain to conduct a deep dive review of the Fund Finance function, to establish how each of these objectives could best be achieved. As a result of the review, Holland Mountain designed a Fund Finance Target Operating Model, and produced a series of prioritised, fully priced & resourced workstreams. We also conducted a deep dive review of the firm’s fund administrators, to prepare for the implementation of a data platform. We have been working with the firm since, supporting the delivery of the resulting change workstreams.