Jackson National chooses Latentzero's sentinel for compliance
New York, Toronto, London, 21st Febuary 2006 - Jackson National Asset Management, LLC ("JNAM"), the Chicago-based investment management subsidiary of Jackson National Life Insurance Co., with assets under management of more than $18 billion, is set to use LatentZero's Sentinel as its post-trade compliance solution across its equity and fixed income funds.
LatentZero will replace JNAM's existing in-house system, and will fully automate all of the company's current manual workflows. Sentinel checks for client guidelines and regulatory rules, in real-time, and can manage complex portfolios across all asset classes. JNAM will use Sentinel's pre-configured rule libraries, which cover every major regulator around the world and can incorporate client mandates together with internal portfolio management guidelines, to support its mutual fund business. Sentinel was chosen after a rigorous evaluation of LatentZero and its leading competitors.
"Like everyone else in our industry, we are facing increased regulatory scrutiny, so it is important that we got exactly the right compliance product on board," said Mark Nerud, Chief Financial Officer at JNAM. "We looked at products from a number of the major vendors, but it was clear that Sentinel had the functionality we were looking for, alongside ease of use, and the ability to integrate with our existing accounting systems. We are particularly impressed by the fact that coding new rules into the system is relatively straightforward, which will ensure that we keep up to date with all compliance issues."
Cindy Arcari, at LatentZero, commented: "As Jackson National Asset Management has demonstrated, Sentinel is increasingly being seen as the first choice for compliance, at both the pre and post trade stage. It enables our clients to strengthen their control mechanisms and increases the number and type of guidelines that can be checked electronically. As with all our solutions, Sentinel is designed to be scalable and future-proof to ensure our clients stay up to date in a rapidly moving industry."
LatentZero is a global technology firm that specializes in developing complete front-office solutions for the buy-side community. LatentZero's suite of products, known collectively as Capstone, is used by 7 of the world's top 10 asset management organizations. More than 3,500 portfolio managers, traders and compliance officers worldwide rely on Capstone to manage assets in excess of $8 trillion. For additional information, please visit www.latentzero.com
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