We have a combined total of more than 20 years experience in banking operations and control which has allowed us to establish and provide ongoing development of a highly effective Independent Control function. Our primary focus is to ensure strict compliance with (1) risk limits and key controls for Sigma and Theta and (2) UK regulations over the conduct of Gordian’s investment business in the UK (i.e. FSA rules).
We report directly to Gordian’s Chief Financial Officer, who in turn reports on control matters to the separate boards of Gordian, Sigma and Theta. Our role involves rigorous limit checking and breach escalation for compliance with Gordian’s Investment Management Contracts with Sigma and Theta, and additional internally set buffers.
We are responsible for ensuring that all of Sigma’s investment assets and related hedges, as well as Theta’s funded and unfunded portfolio positions are objectively priced using external sources. We produce and distribute weekly and monthly portfolio monitoring reports to rating agencies, investors and counterparties, perform bank and custody reconciliations for both Sigma and Theta, provide security administration for all Gordian’s systems and conduct a regular test of Gordian’s contingency arrangements. Additionally, we monitor the credit ratings of all securities, counterparties and banks.
While we are at the centre of Gordian’s control environment, there is a ‘control culture’ within Gordian that imposes a responsibility on all staff to comply with risk limits, internal procedures and regulatory requirements.
