RSA implements SimCorp Dimension
22 February 2018 Alabama
Image: Shutterstock
The Retirement Systems of Alabama (RSA) has successfully completed the implementation of SimCorp Dimension.
The new system will globally support RSA’s investments, worth approximately $40 billion in assets under management.
The implementation consolidates the management of the RSA’s diverse alternatives and real estate portfolio, together with its entire investment book.
As part of the implementation, SimCorp has provided RSA with reporting capabilities; global portfolio management, including local currencies and foreign exchange; straight-through processing on investment processes; intra-day reporting; and investment transparency for the board of control and other stakeholders.
David Adams, assistant CFO and head of investment accounting at RSA, said: “Given our fiduciary responsibility to our members, we have always sought to ensure that our operations are conducted to maximise efficiency and effectiveness. SimCorp Dimension enables us to do just that. Since going live, we’ve been able to automate many of the investment processes with increased STP rates. This has freed up many of our team members from performing a range of manual tasks.”
James Corrigan, executive vice president and managing director of SimCorp North America, added: “We are pleased to have completed The RSA implementation, using our robust and standardised offering for state pension plans. Many pension plans are turning to insourcing of asset management in a bid to reduce costs and gain access to newer investment opportunities. SimCorp is proud to serve some of the leading US State and Canadian pension plans.”
The new system will globally support RSA’s investments, worth approximately $40 billion in assets under management.
The implementation consolidates the management of the RSA’s diverse alternatives and real estate portfolio, together with its entire investment book.
As part of the implementation, SimCorp has provided RSA with reporting capabilities; global portfolio management, including local currencies and foreign exchange; straight-through processing on investment processes; intra-day reporting; and investment transparency for the board of control and other stakeholders.
David Adams, assistant CFO and head of investment accounting at RSA, said: “Given our fiduciary responsibility to our members, we have always sought to ensure that our operations are conducted to maximise efficiency and effectiveness. SimCorp Dimension enables us to do just that. Since going live, we’ve been able to automate many of the investment processes with increased STP rates. This has freed up many of our team members from performing a range of manual tasks.”
James Corrigan, executive vice president and managing director of SimCorp North America, added: “We are pleased to have completed The RSA implementation, using our robust and standardised offering for state pension plans. Many pension plans are turning to insourcing of asset management in a bid to reduce costs and gain access to newer investment opportunities. SimCorp is proud to serve some of the leading US State and Canadian pension plans.”
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