Fee & Rebate Management
pControl Fee & Rebate Management automates the calculation of fund manager fee and rebate amounts and periodic generation of fees and dispatch of rebate invoices.
Fee & Rebate Management automates revenue capture for fund distributors or life companies by maintaining fund manager rebate agreements. The system calculates Funds Under Management (FUM) and rebate amounts, and periodically generates rebate invoices for dispatch to fund managers for payment.
The end-to-end process provides auto-reconciliation of receipted funds, management of write-offs and other accounting adjustments with integration to client general ledgers.
Features
- FUM may be calculated using internal prices and unit holdings, or investment relationships may be imported from external systems.
- Flat or tiered percentage rebate calculations are standard or client specific methodologies may be configured.
- Maintains manager rebate agreements applicable to tiers or sectors within the interfund structure.
- Pre-calculation validations ensure that the unit prices and unit holdings loaded are within acceptable tolerances.
- Post-calculation validations may be applied at total rebate level and for each investment relationship.
- Rebate calculations can be performed over any period with invoicing over the same or a different periodic cycle.
- Manager invoicing calculates the total value to invoice fund managers with supporting detail for the rebate period.
- When integrated with Reconciliations, receipt of cash payments are monitored with automatic GL postings, or exception notification when write-off adjustments are required.
- Data drill-through from total rebate to FUM detail, with postings of rebate accruals.
- Full audit trail of all calculation activity allows for review by all stakeholders and auditors.
- Production Summary dashboard delivers progress monitoring of all rebate calculation activities for each processing date.
- Attention Status Monitor dashboard provides real-time exception monitoring for any activity with critical completion or Service Level Agreement deadlines.
Processing
The Fee & Rebate end-to-end control framework and standard process template delivers a known end-state with defined target metrics. This simplifies client re-engineering decisions and ensures a predictable time-line to benefits.
The standard process template includes the following:
- Import of external units or prices
- Execution of pre-calculation validations
- Calculation of FUM
- Calculation of rebates due
- Execution of post-calculation validations
- Export of rebate results
- Preparation of invoice(s)
- Monitoring for receipted cash, auto-reconciliation or write-off adjustments
Solutions
The Fee & Rebate Management capability is included within the following solutions: