Jackson National Asset Management (JNAM), the Chicago-based investment management subsidiary of Jackson National Life Insurance Co. – which has assets under management of more than $18 billion – has bought LatentZero’s Sentinel application for post-trade compliance across its equity and fixed income funds.
LatentZero says Sentinel will replace JNAM’s existing in-house system, and will fully automate all of the company’s current manual workflows. LatentZero says Sentinel can check 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,” says 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 of LatentZero, claims Sentinel is becoming the aplication of choice for pre-and post-trade compliance. “It enables our clients to strengthen their control mechanisms and increases the number and type of guidelines that can be checked electronically,” she says. “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.”