NEW YORK--(BUSINESS WIRE)--Citi’s N-Port service has been chosen by NICSA as a 2018 NOVA award winner in the Operational Excellence category. The NICSA NOVA Awards aim to showcase best-in-class initiatives, technologies, and personalities in asset management today, as well as encourage industry best practice.
Citi’s N-Port service is a solution for clients facing the SEC’s Rule changes affecting the U.S. mutual fund industry in 2018. The SEC’s sweeping reporting modernization and liquidity risk management rules have placed an added operational burden on asset managers. Compliance with the rules requires additional market data, analytics and new reporting infrastructure. Citi partnered with MSCI and Confluence to build the award-winning N-Port service resulting in an efficient and effective model that assists Citi’s clients in meeting these new requirements.
“On behalf of the team, I am honored that NICSA has recognized Citi as the winner in their Operational Excellence category, said Jon Gezotis, Director of Product Management, Citi Fund Services. “We continue to explore new technologies and approaches to actively help our clients meet the rigorous demands of the SEC’s new mutual fund regulations with transparency and control.”
The Awards recognize outstanding organizations and industry professionals that excel in the field of asset management by demonstrating exemplary leadership and innovation. Considerations include creative design and implementation of business initiatives resulting in positive and long-lasting contribution to their respective company and/or the industry as a whole.
NICSA is a not-for-profit trade association that connects global asset management industry participants in order to develop, share, and advance leading practices. For over fifty years, the Association has offered a collective, timely view on evolving themes shaping the financial services industry. Deep expertise and unique perspectives come together in an open and collaborative environment to tackle the strategic implementation of the industry’s most vital issues.
Citi’s Global Custody and Fund Services platform offers clients access to 105 markets with 61 proprietary branches and subsidiaries and 44 agent banks. Clients rely on our local market expertise, deep institutional resources and scalable platform to support their most complex securities services needs.
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
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