FCP Financials Overview Report

Overview

The FCP Financials Overview Report, provided by Vitesse, provides a single, comprehensive view of all funds and claims across the full lifecycle of the FCP. Captured at UMR level, the report is set at market share and includes all binders, Lead or Follow, giving users clear and consistent visibility. Optional to use, the report draws on key inputs from MAs such as the Non-Cash Signings Report and the Front-End Variance Report. For clients using an automated reconciliation vendor integrated with Vitesse, front-end data can be retrieved directly, ensuring seamless and accurate reporting.

Key Benefits

• Minimises administrative effort by streamlining the matching of non-cash messages to cash movements
• Reduces manual intervention by identifying and managing timing differences automatically
• Provides real-time, end-to-end visibility of FCP binders and associated cash activity
• Eliminates reconciliation challenges and recovery delays with continuous monitoring of fund balances
• Enhances accuracy of non-cash messages with improved oversight and reconciliation
• Flags potential BDX processing delays or discrepancies for proactive resolution
• Tracks refunds and recoveries received into funding accounts with clarity and confidence

Re-Cap of Solution

• The FCP Financials Overview Report was created in collaboration with Brit to address reconciliation challenges in FCP, where cash often moves before signing messages are received.
• Designed specifically for the finance functions of MAs, the report provides a single, UMR-level view of life-to-date funds and claims across the entire FCP lifecycle, covering both lead and follow binders.
• Its purpose is to simplify reconciliation by aligning cash transactions with claims activity, giving us an end-to-end, real-time view of FCP finances, including refunds and recoveries.