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Winter Weather Preparedness Tips (Webinar Recap)

By Jordan DeSantis,
Thursday, January 28th, 2016

The winter season has officially greeted the East Coast with the first major storm of 2016, Storm Jonas. Jonas produced historic amounts of snow in many East Coast states setting records for all-time heaviest snowstorm at two prominent New York airports, JFK (30.5 inches) and LaGuardia (27.9inches). With these unprecedented levels of snow, New York City was forced to halt public transportation and implemented a mandatory restriction on private transportation as well. Jonas proved to be kind in the fact that the majority of the impact fell on the weekend but many firms can recall more disruptive storms occurring during regular business hours leaving many employees feeling stranded. To alleviate the stress incurred during winter storms, we sat down with our own Business Continuity Analyst, Matt Donahue, who creates, writes, and audits hedge fund’s business continuity plans. Matt spoke with us about different BCP scenarios and provided tips to keep your firm operational during the worst of storms.

Rather watch a video? Scroll down or click here to see Matt’s 15-min Q&A on winter weather prep.

Categorized under: Business Continuity Planning  Disaster Recovery  Hedge Fund Operations  Communications  Videos And Infographics 



Top 5 Reasons Managers Need a Research Management Software (RMS)

By Jaime Bean, Ledgex Systems,
Thursday, January 21st, 2016

In today’s competitive market, research management software (RMS) has become a must-have integrated feature for investment management firms. Significant benefits offered via RMS have caused a ripple effect of soaring adoption rates across the global investment industry. In this article we’ll examine how adopting a research management solution could benefit your firm.

Central Repository

With offices, colleagues and clients spread across the world, firms need to consolidate data in an organized fashion. From meeting and call notes, to audits and analyst reports, the demand for readily accessible information is ever burgeoning. Storing information within multiple programs and folders not only welcomes disorder and the opportunity for digression in the workplace, but also increases costs and wastes valuable time. This prehistoric method of aggregating data has been replaced with advanced RMS, a much more viable, flexible and comprehensive solution. Hosting a firm’s data within a user-friendly, central repository simplifies processes, optimizes productivity and uncovers new business opportunities. When selecting a RMS, managers may consider a generic or industry-specific product. While both options present benefits, the latter assimilates seamlessly with an investment firm’s daily workflows, terminology and diverse range of data. An ideal RMS will also offer customization, accessibility and integrate with other applications, such as Outlook.

Categorized under: Software  Hedge Fund Due Diligence  Hedge Fund Operations  Hedge Fund Regulation  Communications  Trends We're Seeing 



IT Security Dos and Don'ts to Live By

By Kaleigh Alessandro,
Tuesday, January 12th, 2016

We spend a lot of time educating our clients about security best practices and encouraging them to implement comprehensive security policies and procedures to mitigate risk and protect both the firm and its employees. And for good reason. Data breaches continue to wreak havoc for businesses, and the cost is steadily rising. According to the Ponemon Institute, the total average cost of a data breach is now $3.8 million, up from $3.5 million in 2014.

IT security best practices ebook

While companywide policies should reflect long-range expectations and corporate best practices, they should also include tactical recommendations that employees can follow to ensure they are complying with the company’s overall risk strategy. In addition to providing employees with security best practices they should follow, don’t forget to also include a list of actions they should not. Here are just a few pieces of advice we regularly offer our investment firm clients. You can download our full IT Security Dos & Don'ts eBook by clicking here

DO:

  • Lock your computer and mobile phone(s) when you leave your desk and/or office

  • Use care when entering passwords in front of others

  • Create and maintain strong passwords and change them every 60-90 days (We recommend a combination of lowercase & uppercase letters and special characters)

Categorized under: Security  Cloud Computing  Disaster Recovery  Hedge Fund Operations  Infrastructure  Communications  Business Continuity Planning  Trends We're Seeing 



Top Industry Trends in 2016 for Hedge Funds and Beyond

By Kaleigh Alessandro,
Thursday, January 7th, 2016

With a new year brings new excitement and new ambition. Across the hedge fund and alternative investment industry, firms are devising new strategies and implementing plans to drive growth and increase returns. In 2016, we expect the following industry trends will play a role in shaping many of the decisions hedge funds and other investment management firms make.Hedge Fund Cybersecurity in the Cloud

Hedge Fund Cybersecurity 2.0

Last year, cybersecurity took center stage across the investment community, and there is little doubt that it will continue to dominate in 2016. If we can assume that firms used 2015 to shore up security practices and have, at minimum, established a baseline for protecting firm assets with firewalls, password protections and penetration testing, we can expect 2016 to take cyber preparedness to the next level in the form of advanced features and analytics including phishing and social engineering tests, designed to increase the level of preparedness held by firm employees. With cyber-attacks increasing in sophistication, firms will need to spend time in 2016 working with managed providers and internal IT teams to continue the education process and identify strategies to outsmart hackers.

Categorized under: Hedge Fund Operations  Security  Hedge Fund Due Diligence  Hedge Fund Regulation  Trends We're Seeing 



IT Security Dos and Dont's: A Best Practice Guide (Video)

By Kaleigh Alessandro,
Tuesday, December 29th, 2015

If you’re a loyal Hedge IT reader, you may remember we highlighted a few simple dos and don’ts that, when utilized, can go a long way in shoring up your firm’s security. To make it easy, we’ve put these tips together into a video. Take a look below and discover a vast range of security tips and tricks from email encryption to proper security measures for protecting computers and mobile devices. 

 

Categorized under: Videos And Infographics  Cloud Computing  Security  Disaster Recovery  Hedge Fund Operations  Infrastructure  Communications  Business Continuity Planning  Trends We're Seeing 



Four Hedge Fund IT Mistakes to Avoid in 2016 (Tech Tips Video)

By Mary Beth Hamilton,
Tuesday, December 22nd, 2015

Welcome back for our monthly Eze Tech Tips Video.

2016 is just around the corner, which means we’re entering resolution time and the hedge fund launch season. So, here’s our list of the top four hedge fund IT mistakes you need to resolve not to make in 2016.


 

Categorized under: Launching A Hedge Fund  Cloud Computing  Hedge Fund Operations  Trends We're Seeing  Videos And Infographics 



Examining the Changing Role of the Hedge Fund CTO

By Kaleigh Alessandro,
Thursday, December 17th, 2015

Times have changed. There is little doubt that the hedge fund industry has evolved in recent years with the rise of new regulations, the wide spread adoption of cloud services and deep focus on cybersecurity risks. CTOs have to wear many hatsThese changes have affected the way many firms do business on both operational and technology levels.

But what effect do these changes have for the person responsible for technology at a hedge fund or investment firm? As a Chief Technology Officer (or comparable role: Director of IT, Chief Information Officer, etc.), one has historically been responsible for day-to-day IT functions and routine technology refreshes. But as the industry has experienced rapid change over the last several years, so too have the CTOs and their responsibilities.

Categorized under: Trends We're Seeing  Cloud Computing  Hedge Fund Operations  Infrastructure  Outsourcing 



Operational Due Diligence: Common DDQ Questions Investors Are Asking

By Eze Castle Integration,
Tuesday, December 15th, 2015

Operational due diligence has become a hot topic that continues to gain importance and attention throughout the alternative investment industry. Over the past few years, as regulations have changed and investors increasingly seek transparency, funds are spending more time than ever preparing for the due diligence process.

It is no surprise that the investment industry landscape is becoming more and more competitive. As this trend continues, investors are raising their expectations and looking towards funds that display the highest levels in operational excellence. One important way to ensure your firm meets these high standards is to complete a due diligence questionnaire (DDQ) that can be shared with potential investors.

A comprehensive DDQ covers a wide range of topics, from assets under management to audited financial statements and investment strategies. One major area of focus is the fund’s IT and accompanying cybersecurity policies and procedures.At Eze Castle, we frequently assist our hedge fund clients in completing DDQ questions on technology, and we often see the same types of questions popping up. So, to help you get started, we have compiled the following list of some frequently asked DDQ questions.

Categorized under: Hedge Fund Due Diligence  Disaster Recovery  Hedge Fund Operations  Business Continuity Planning 



SEC Cybersecurity Checklist: 6 Areas Your Hedge Fund Better Have Covered

By Mary Beth Hamilton,
Thursday, December 10th, 2015

Earlier this week we presented at a Wells Fargo Prime Services breakfast briefing on cybersecurity. During the discussion, Stuart Levi of Skadden reminded attendees that the SEC has clearly defined (and communicated) its cybersecurity expectations. He recapped the following six areas advisers must have covered to demonstrate preparedness to regulators.

1. Risk Assessments
2. Governance
3. Training
4. Access Control
5. Vendor Management
6. Information Sharing

Here's Eze Castle Integration's take on these focus areas:

#1 Risk Assessments

The April 2015 SEC Cybersecurity Guidance Update goes deeper into risk assessments expectations. Here are some key cyber risk assessment takeaways:

  • Define what confidential data is and determine how it's protected.

  • You must also understand where your data is located, how it is collected and who and what technology systems have access to it.

  • Registered investment advisers should have a clear understanding of the threat landscape, including potential internal and external risks as well as unique vulnerabilities specific to the firm. Evaluate a variety of potential scenarios as well as their likelihood to occur.

  • Once firms understand the risks facing their organization, they must conduct assessments of the existing controls and processes to ensure they account for the risk landscape and put the appropriate safeguards in place.

  • Be sure to understand the potential impacts of various cyber risk scenarios and outline specific protocols for incident response and quick resolution. The impact of cybersecurity incidents can range from financial to technological to reputational.

  • Finally, testing and assessing the governance structure, including administrative and technical safeguards, is key to ensuring effectiveness.

#2 Governance

Gone are the days of management simply outsourcing responsibility to third-party experts and trusting them blindly. Telling the SEC, “we hired the best security consultant,” won’t cut it. Today management must understand their firm’s security posture and be able to outline the safeguards that are in place to minimize risk.

Additionally, management must instill the importance of security preparedness in all employees by making it a top-down priority.

Categorized under: Security  Launching A Hedge Fund  Hedge Fund Insiders  Hedge Fund Due Diligence  Hedge Fund Operations  Hedge Fund Regulation  Trends We're Seeing 



A How-To Guide to Selling the Cloud to Your CFO

By Kaleigh Alessandro,
Tuesday, December 8th, 2015

handshakeIf you’re one of the seemingly few firms who has yet to make the move to the cloud, it could be for a variety of reasons. Perhaps you want to maintain total control of your IT environment. Or maybe you’re waiting for a tech refresh to motivate you. Alternatively, it could be that you just haven’t made the proper case to management for switching to the cloud – and many times the one who really needs convincing is the Chief Financial Officer (CFO).
 
If you’re the Chief Technology Officer (CTO) or IT Manager, your responsibility is determining the infrastructure choices that are going to best suit operations at your firm. But those priorities may not line up exactly with those of the firm’s CFO. IT doesn’t always have insight into the financial ramifications of an operations decision of this magnitude. Instead they are typically focused on the other benefits including personnel reallocation, workflow efficiencies, etc.
 
The CFO, on the other hand, is ultimately tasked with ensuring the company’s financial decisions are appropriate, and therefore, it’s often advantageous to at least attempt to speak his/her language when pushing for an IT change.

Categorized under: Cloud Computing  Hedge Fund Operations  Outsourcing  Trends We're Seeing 



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