Cashfac at TSAM London 2019

James McGivern, Head of Asset Management reflects on the 2019 Summer of Asset Management conference in London.

Overview

Cashfac attended the annual TSAM London conference on 28th February 2019.  The conference was held at the InterContinental Hotel in the shadow of London’s O2 Arena, which the older members of our team still insist on calling the Millennium Dome.  Talking of the older members of our team, they did give us cause to ask whether there were an age at which it was no longer appropriate to take selfies with your sporting heroes?  As far as Cashfac was concerned the answer seemed to be a definitive “No”.  We shamelessly crowded around the conference’s guest speaker Michael Vaughan, the former captain of the England cricket team, and, as it turned out, a charming gentleman to boot.  He gave an excellent talk on leadership, laced with amusing anecdotes about Freddy Flintoff and my personal (but not for sporting reasons) hero Shane Warne.

As you might imagine, the firms attending the TSAM conference read like a who’s who of the Asset Management industry and the fintechs that support them.  The conference itself was divided into six streams: Technology & Operational Strategy, Regulations & Compliance, Client Service & Retention, Marketing & Sales Communications, Data Management and Risk & Performance.  This gave the conference a massive advantage in attracting a wide range of people from across the various disciplines in the industry, which in turn lead to some lively interactions at the sessions  However, it can also leave you praying for the gift of bilocation when the talk on “MIFID 2: One Year On” clashes with the one on the “Digital Roadway for the Future”.  What we at Cashfac found was that the people who did attend were multi-disciplinarians, keen to find out about our products, even if they were not directly relevant to their areas of expertise.  We had several Heads of Marketing intent on obtaining our technical material back to the more relevant people in their firms. Well done TSAM on attracting people of this quality.

Panel Session

As a gold sponsor of the event, Cashfac had an active role in the day.  Our Head of Consulting, Jo Parkhill, participated in a panel on “De-Risking the Asset Management Operating Model of the Future”.  I always dread doing panel discussions because questions can really come at you out of left field.  However, with Jo’s vast experience helping her asset management clients meet the challenges of regulation, she was able to give some fantastic insights.  The media also picked up on her contributions, Bob’s Guide being a good example. Her key message was that, very often, legacy systems have been tainted to the point where they break down and that the FCA is no longer in the mood to accept this approach from regulated firms and their suppliers.

Though to my mind, Jo’s more important message was a subliminal one – that Cashfac don’t just supply software. It supplies people like Jo who will come in, understand your business and help you build a total solution that resolves your operational and compliance challenges.

Product Presentation

After an excellent lunch, I took the “graveyard” speaking slot to outline how Cashfac’s Virtual Bank Technology can help Asset Management firms revolutionise its cash operations and, in particular, its CASS 7 (Client Money) compliance.  Our key message was that, with the new Senior Manager’s Regime (SMCR) due to be implemented in December this year for Asset Managers, it is time to make sure that firm’s CASS compliance is bulletproof and not merely meeting the minimum standard that some firms think is adequate.  The point I wanted to get across was that if you build cash operations right, you can not only achieve the highest levels of compliance and service but also reduce your firm’s costs. See my full presentation here

That’s a Wrap

Once the hard work was done, we were off to hear Mr Vaughan’s views on leadership over a glass of fizz.  What was Mr Vaughan’s secret leadership strategy?  Apparently, when required, a leader must “lie his arse off”.  Well I suppose it worked for Nelson at the Battle of Copenhagen.  Of course, it would never work for software houses.  We have to tell the truth all the time.  I swear.

What’s Next?

To learn more about our solutions for Asset Managers, please download our latest whitepaper which addresses the 5 key challenges facing Asset Managers and how technology can resolve them.

Download now

About the Author

After gaining a degree in accountancy from Queen’s University Belfast, James qualified as a chartered accountant with Price Waterhouse Coopers (PwC).  He then went on to hold senior finance and operations roles with PayPal, Bank of America, Bank of Ireland and Barclays.

James joined the Cashfac sales team in 2018 where he has responsibility for Asset Management and Non-Bank Financial Institutions.

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