Woodfield Fund Administration Chooses Smonik Portfolio Reconciliation

Woodfield Fund Administration has chosen Smonik RECON to support the portfolio reconciliation needs of their investment management clients, and to modify middle- and back-office processes.

Smonik RECON’s platform provides Woodfield clients with straight-through processing of trade reconciliation from data retrieval to matching and handling exceptions to reporting. RECON also improves operational efficiency by automating the retrieval, normalization and uploading of multiple formats of essential data from prime brokers, custodians and administrators.

Tristan Rock, managing director of Smonik, said: “By removing the operational systems burden that many firms face when having to add functionality to legacy reconciliation systems, we are able help Woodfield and its clients spend more of their time on customer service and alpha generation.”