Task Management for Operational Excellence. Designed and backed by 20 years of executive hedge fund experience, OpsCheck is a cloud-based application that creates a central repository for every job, task and project that are completed, ongoing, or upcoming. It gives you the on demand ability to easily retrieve and verify the current status or proof of completion. Included, is a workflow function that is tailored to accommodate projects requiring contributions from several departments.
The application has 10 key features:
- Dashboard monitor: The dashboard monitor provides senior management with a macro view of all the tasks that need to be followed. This view centralizes all tasks and shows various summaries, with the ability to drill down to observe the event in detail.
- Reminders and alerts: Since all tasks are not created equally OpsCheck provides you the ability to set up reminders when tasks are established. An email will be sent to the person responsible for the task’s completion based on the amount of time needed to complete it. OpsCheck will also send out emails and have online alerts when a task is overdue.
- Shared calendar: The calendar functionality allows you to query and filter all upcoming tasks weeks and months in advance for individuals, departments and the firm overall. This powerful scheduling tool will make your team aware of every deadline every time.
- Robust audit trails: System integrity is paramount so OpsCheck has built an effective audit trail. You can track any additions, changes and deletions for all critical events. Investors, regulators and auditors are all influenced positively when your information is organized and verifiable.
- Powerful task filtering: Tasks can be filtered and displayed in numerous ways. This serves as an efficient method to identify and execute all tasks. More importantly, you can drill down to the exact issue when managing any operational problem or crisis.
- Suggested tasks: OpsCheck comes with over 100 suggested tasks to be performed by hedge funds. Many small and mid-sized funds will see the tasks that larger funds typically perform and can use it as a guide as their firm grows.
- Detailed task history: Keeping track of all tasks and history is made easy. In addition to the robust audit trail you can track the history of completed tasks. You will be able to go back and find a specific task and view any note, procedure, policyProcedure or attached backup document.
- Flexible configuration: OpsCheck was designed to accommodate large and mid-sized hedge funds as well as smaller emerging funds. The configuration can be very granular using various user levels, functions and departments, or high level to accommodate very small teams.
- Connect policies, procedures and notes: Every task can be as simple or as detailed as you prefer. Using the same functionality as document management; you can attach any written procedures or any firm policies to any or all tasks. You also have the ability to add notes directly to the task as its being worked on or executed, for full disclosure of any pertinent information.
- Unique document management: Document management is designed to link your documents to tasks. Instead of attaching documents, you attach a link which is only accessible by those within the client’s network. The client maintains confidentiality of proprietary information since the document never leaves their network. You also have the ability to link multiple documents and maintain integrity since OpsCheck can identify when a document has been changed.
OpsCheck promotes individual accountability and responsibility. There is nothing quite as powerful as having someone sign off a completed job or disclosing the pertinent needs to complete a job or resolve a problem. OpsCheck provides managers the assurance that everyone is executing their tasks.
OpsCheck sets hedge fund managers apart from rivals by demonstrating to investors the high integrity and strong management oversight of the shop and assets under management (AUM).
Mitigate operational risk
OpsCheck empowers managers to monitor and quickly address any comments or reports related to operating tasks and level of completion. OpsCheck is a critical platform, where managers can rest assured that everyone is performing their tasks and adhering to the firm’s dashboard and calendar.
Enhance third-party management
OpsCheck is an essential tool for managing contract business partners and fulfilling hedge fund managers’ fiduciary responsibilities - critical in a world where outsourcing of hedge fund services continues to grow. Administrators, technology vendors, compliance consultants and pricing vendors, to name a few, provide value-added services but need to be managed. OpsCheck provides an efficient platform for managers to assign tasks and oversee all third-party vendors.
Tracking and maintaining open communication with offices in different time zones is a challenge. OpsCheck helps managers keep track of activities in foreign or satellite offices, prioritize events in a simple fashion, and avoid potential problems created by an imperfect communications structure.
Increase manager capacity
OpsCheck increases user capacity of oversight without the added expense of additional staff. Businesses need to perform more functions as they grow, but with this increase, oversight often suffers or more managers are required. Use OpsCheck to increase your managers’ capacity to oversee all aspects of your business.
Support your compliance program
Demand from the regulatory environment continues to grow. If you are a registered investment advisor or intend to operate as one, OpsCheck can help manage your tasks, deadlines, documentation, and keep you organized for a potential audit.
OpsCheck’s flexible design is a helpful tool for project managers. Everyone involved in a particular project can participate and stay abreast of each other’s progress. Senior management, meanwhile, is given a greater view of the progress as it happens.
Guidance as your firm grows
OpsCheck can accommodate hedge funds of all sizes. As small and midsize hedge funds grow, more tasks need to be performed, due to greater demand from investors and regulators and evolving industry “best practices.” OpsCheck Suggested Tasks taps the resources of successful large funds to better prepare managers of small to midsize hedge funds to take on additional tasks, as warranted.
Operational due diligence
Operational due diligence is vital to raising capital or maintaining AUM. Investors demand that strict controls and procedures are in place, competent service providers have been chosen, as well as viable compliance and business continuity plans. OpsCheck, when used as part of your firm’s management oversight process, enhances investor confidence and is a differentiator to other hedge funds vying for the same capital.
Connect tasks to various data points
OpsCheck is a great tool to help tie up and connect all tasks to their owner or any related documents, comments, procedures and policies. OpsCheck can be used in isolated areas or throughout the client’s entire operational infrastructure.
Acquire SSAE16 (formerly SAS70)
OpsCheck is a tool to help acquire and maintain SSAE16 attestation. The ability of alternative investment managers to demonstrate commitment to and investment in strong internal controls can help differentiate managers from their peers. In addition, this report demonstrates a commitment to examining internal controls.
Enhance preparation for audits, regulators and investors
OpsCheck enhances hedge funds’ preparation for audits, regulators and investors. An organized and easily retrievable database is essential to operational excellence. OpsCheck can not only help managers influence the outcome of any review and create a very positive impression, but also strengthen command of all issues.
Independent application to avoid conflicts of interest
OpsCheck, an independent task management application, helps users avoid any conflict of interest, or appearance of a conflict, and affords a reliable and accurate history and audit trail functionality.
Virtual internal audit
OpsCheck can help create your own “virtual internal audit.” Internal audit’s objective is to add value and improve an organization’s control and operations; this can be accomplished using OpsCheck.