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Fund Accountant Assistant

Your AI-powered fund accountant who specializes in NAV validation, break investigation, and certification coordination. The Fund Accountant Assistant understands ASIC RG94 requirements inside out and can investigate NAV variances in seconds—reducing work that typically takes hours into minutes.
The Fund Accountant Assistant is optimized for fund accounting workflows with 3bp NAV tolerance tracking, zero cash reconciliation tolerance, and automated breach investigation capabilities.

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Overview

The Fund Accountant Assistant is a domain-specialist agent focused on the core operational workflows of investment fund accounting. It automates routine validation tasks while maintaining the rigor and audit trails required for regulatory compliance. This agent works seamlessly with your fund administrators, custodians, and compliance teams. Perfect for:
  • Daily NAV validation and reconciliation
  • Month-end and quarter-end fund certification
  • Break investigation and root cause analysis
  • ASIC RG94 compliance coordination
  • Multi-class and multi-currency fund structures

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Primary Responsibilities

The Fund Accountant Assistant automatically identifies and investigates NAV variances against your configured tolerance thresholds:
  • Variance Detection - Compares calculated NAV against administrator and custodian feeds
  • Threshold Monitoring - Flags breaks exceeding 3bp tolerance for investigation
  • Root Cause Analysis - Performs line-by-line comparison of holdings, cash, and accruals to pinpoint discrepancies
  • Suggested Resolutions - Proposes fixes based on identified issues (e.g., FX rate updates, corporate actions, late trades)
  • Investigation Documentation - Captures findings with evidence for audit trails

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Certification Coordination

Streamlines the NAV certification workflow from calculation through approval:
  • Pre-Certification Checks - Validates data completeness and quality before certification submission
  • Approval Routing - Routes certification requests to appropriate stakeholders with full context
  • SLA Tracking - Monitors approval timelines and escalates delays
  • Audit Evidence - Maintains comprehensive documentation of the certification process
  • Multi-Fund Coordination - Handles batch certifications across multiple funds with different approval requirements

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Fund Accounting Workflows

Supports end-to-end fund accounting processes:
  • Daily Reconciliation - Compares multiple data sources (custodian, administrator, internal records)
  • Cash Management - Zero-tolerance cash reconciliation with daily settlement tracking
  • Accrual Management - Validates accrued expenses, performance fees, and other adjustments
  • Corporate Actions - Tracks and reconciles corporate actions (splits, dividends, mergers)
  • Multi-Class Analysis - Handles complex share class structures with differential fees and distributions

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ASIC RG94 Compliance

Ensures every validation meets ASIC Regulatory Guide 94 requirements:
  • Compliance Template Execution - Follows pre-configured RG94 validation procedures
  • Breach Detection - Identifies and escalates compliance breaches automatically
  • Documentation - Generates compliance-ready reports with evidence capture
  • Audit Readiness - Maintains audit trails proving compliance with all RG94 requirements
  • Control Testing - Assists with periodic control testing and evidence collection

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Key Capabilities

Variance Investigation

Pinpoint root causes of NAV discrepancies by comparing multiple data sources and analyzing transaction-level differences

Break Prediction

ML-powered breach forecasting helps identify emerging issues before they become compliance problems

Reconciliation Automation

Automated matching and reconciliation across administrator, custodian, and internal records

Certification Management

Orchestrate NAV certification workflows with automated pre-checks, routing, and approval tracking

Multi-Currency Handling

Automatically reconciles FX differences and manages currency-related variances

Tolerance Threshold Tracking

Configurable tolerance matrices (3bp NAV, zero cash) with smart alert routing

Report Generation

Generates fund accounting reports ready for internal review or investor communication

Audit Trail Capture

Every investigation step logged with full context for regulatory compliance and internal audit

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Typical Workflows

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Daily NAV Validation (15 minutes vs. 3 hours)

1

Initiate Validation

Request: “Validate NAV for all funds as of [date]”
2

Automatic Comparison

Fund Accountant Assistant compares calculated NAV against administrator and custodian feeds for all funds
3

Breach Identification

Flags any variances exceeding 3bp tolerance with fund details and variance amounts
4

Root Cause Analysis

For each breach, performs line-by-line investigation to identify discrepancies in holdings, cash, or accruals
5

Resolution Suggestions

Proposes specific fixes with supporting evidence (e.g., “Update FX rate for USD/AUD from 0.6850 to 0.6865”)
6

Approval Coordination

Routes high-confidence fixes for auto-approval; escalates complex issues for manual review
7

Audit Documentation

Generates validation report with full investigation history for compliance records

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Month-End Fund Certification (2 days → 2 hours)

1

Pre-Certification Checks

Validates data completeness, market data freshness, and all required accruals
2

Variance Investigation

Investigates any month-to-month NAV changes with attribution to holdings, fees, or distributions
3

Document Preparation

Prepares certification documentation with all supporting schedules and reconciliations
4

Stakeholder Approval

Routes to fund manager, compliance, and responsible officers for required sign-offs
5

Approval Tracking

Monitors approval status, sends reminders for pending signatures, escalates delays
6

Final Submission

Submits certification once all approvals received with complete audit trail
7

Record Keeping

Archives certification package with evidence for annual audit requirements

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Break Investigation & Resolution (1 hour → 10 minutes)

Scenario: Fund A shows NAV variance of 5bp (above 3bp threshold)
1

Breach Alert

Fund Accountant Assistant detects variance and initiates investigation automatically
2

Data Comparison

Compares calculated NAV against administrator feed and custodian holdings line-by-line
3

Root Cause Identification

Identifies discrepancy: Corporate action (stock split) processed by custodian but not reflected in administrator feed
4

Impact Analysis

Calculates impact of identified issue ($X adjustment required) with suggested journal entry
5

Resolution Documentation

Creates investigation record with all findings, evidence, and recommended fix
6

Approval & Execution

Routes to appropriate approver; executes fix upon approval
7

Compliance Logging

Logs breach and investigation steps to compliance record for RG94 audit trail

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Database Access & Data Integration

The Fund Accountant Assistant has scoped access to fund accounting schemas and related reference data: Core Schemas:
  • investment.* - Fund structure, holdings, transactions
  • validation.* - NAV breaks, variance investigation records
  • workflow.* - Certification workflows, approval status
  • compliance.* - RG94 compliance checks, breach logs
  • audit.* - Complete audit trail of all investigations
Data Sources Connected:
  • Administrator NAV feeds (daily reconciliation)
  • Custodian holdings and cash reports
  • Market data for pricing and FX rates
  • Internal fund accounting records
  • Approval workflow status
Query Capabilities:
  • Historical NAV comparisons (daily, monthly trends)
  • Variance pattern analysis (recurring issues)
  • Approval SLA tracking
  • Corporate action reconciliation status

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Tool Suite

The Fund Accountant Assistant commands a specialized set of tools for fund accounting automation:
Automated line-by-line matching across administrator, custodian, and internal records with discrepancy flagging and suggested resolutions.
Root cause analysis for NAV discrepancies, impact calculation, and resolution suggestions. Includes multi-currency handling.
Pre-certification checks, approval routing, SLA tracking, and submission management for NAV certifications.
RG94 compliance verification, breach reporting, audit evidence capture, and regulatory report generation.
Schema inspection, custom queries, data summaries, and historical analysis for fund accounting investigation.

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Integration Points

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With Other Agents

The Fund Accountant Assistant works closely with other OpsHub agents:
  • Data Quality Analyst - For deep data profiling when reconciliation issues are complex
  • Compliance Sentinel - Coordination on breach escalation and RG94 audit requirements
  • Workflow Director - For certification workflow orchestration and approval management
  • Dashboard Architect - Creating variance trend dashboards and breach status visualizations
  • OpsHub Orchestrator - For complex multi-agent investigations involving portfolio or risk analysis

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With External Systems

  • Fund Administrators - Automated daily NAV feed reconciliation
  • Custodians - Holdings and cash position matching
  • Internal Accounting Systems - Accrual and adjustment reconciliation
  • Approval Workflows - Temporal Cloud integration for certification processes
  • Audit Systems - Evidence export for periodic control testing

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Configuration & Customization

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Fund-Specific Settings

Each fund can have customized configuration:
  • NAV Tolerance Thresholds - Adjust 3bp default for different fund types
  • Cash Tolerance - Typically zero but configurable
  • Approval Workflows - Define who must approve certifications and under what conditions
  • Data Source Priority - Configure which source (admin or custodian) is authoritative
  • Reporting Requirements - Define fund-specific compliance report formats

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Tolerance Matrices

Configure sophisticated tolerance rules:
  • Basis point thresholds for NAV variances by fund type and asset class
  • Absolute amount thresholds for specific holdings or cash positions
  • Time-based rules (e.g., stricter tolerances at month-end)
  • Exception handling for known recurring items

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Escalation Policies

Define when and how breaches escalate:
  • Automatic approval for expected variances below secondary threshold
  • Manager review for variances within tolerance band
  • Escalation to compliance for significant breaches
  • Executive notification for material issues

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Real-World Examples

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Example 1: Discovering a FX Rate Lag

Situation: Fund B shows 2.5bp variance due to time zone differences in FX rate updates. Fund Accountant Assistant Investigation:
  1. Detects variance in USD-denominated holdings (Japanese fund with USD exposure)
  2. Compares FX rates used in NAV calculation vs. custodian rates
  3. Identifies 0.15% rate lag (0.8750 internal vs. 0.8760 custodian)
  4. Calculates impact: 2.5Mholding×0.152.5M holding × 0.15% = 3,750 variance
  5. Recommends: Update FX rate to custodian close or wait for next market data refresh
  6. Documents: Logs finding as “Expected FX timing lag” and updates market data schedule
Result: Issue resolved in 3 minutes with documented justification

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Example 2: Catching a Corporate Action Miss

Situation: Fund C shows 5.8bp variance; daily investigation reveals corporate action discrepancy. Fund Accountant Assistant Investigation:
  1. Line-by-line comparison flags missing 100,000 shares post-stock split
  2. Traces issue: Custodian processed 3:1 split; administrator feed shows old quantity
  3. Calculates impact: 100,000 shares × 25/share=25/share = 2.5M variance (5.8bp)
  4. Identifies root cause: Administrator’s corporate action processing delayed 1 business day
  5. Proposes: Immediate adjustment with journal entry to reconcile
  6. Documents: Escalates to operations for administrator feed investigation
Result: Break identified and resolved within 10 minutes; root cause identified for process improvement

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Example 3: Certification Workflow Coordination

Situation: Month-end fund certification requires approval from 4 stakeholders across 2 time zones. Fund Accountant Assistant Management:
  1. Performs pre-certification checks (data completeness, market data freshness, accruals validity)
  2. Identifies one accrual requiring updating (performance fee calculation error)
  3. Routes pre-certification exception to fund manager for correction (automated)
  4. Once corrected, routes certification package to all 4 approvers with full documentation
  5. Tracks approval status in real-time, sends reminders after 4 hours (configurable)
  6. Escalates to compliance manager when Fund Manager approval pending >24 hours
  7. Monitors final consolidation and submits to administrator once all signatures collected
Result: Certification completed in 2 hours with full audit trail and all approvals documented

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Performance Metrics

Track the Fund Accountant Assistant’s impact on your fund accounting operations: Speed Metrics:
  • NAV validation time: typically 3 hours → 15 minutes (85% reduction)
  • Break investigation time: 1 hour → 10 minutes (83% reduction)
  • Month-end certification time: 2 days → 2 hours (95% reduction)
  • Compliance report generation: 4 hours → 5 minutes (98% reduction)
Accuracy Metrics:
  • Break detection coverage: 100% of variances >3bp identified
  • False positive rate: less than 2% (fewer than typical manual review)
  • Root cause identification success: 92% without requiring escalation
  • Compliance breach detection: 100% coverage with audit trail
Operational Metrics:
  • Certification SLA compliance: >99% on-time submission
  • Approval turnaround: Average 4 hours (down from 1-2 days manual)
  • Documentation completeness: 100% audit trail coverage
  • Issue resolution without escalation: 78% auto-resolved

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Best Practices

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When to Use the Fund Accountant Assistant

Use the Fund Accountant Assistant for:
  • Daily NAV validation and variance investigation
  • Month-end and quarter-end fund certifications
  • Reconciliation of multiple data sources
  • ASIC RG94 compliance coordination
  • Routine break investigation and resolution
  • Audit evidence collection and documentation
  • Strategic fund accounting decisions (requires human judgment)
  • New market structure setup (needs domain expert configuration)
  • Exception handling outside normal variance patterns
  • Fraud investigation (escalate immediately)

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Effective Interaction Patterns

Start with Context: 
"Investigate NAV variance for Fund A as of October 15, 2024.
Compare against [Administrator Name] and [Custodian Name] feeds."
Use Specific Requests: 
"Generate pre-certification checklist for month-end Fund certification
with all reconciliation requirements"
Ask for Recommendations: 
"Analyze cash reconciliation for Fund B and suggest process improvements
for my next quarterly review"

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Managing the Certification Workflow

  1. Prepare Early - Run pre-certification checks 2-3 business days before deadline
  2. Address Issues Proactively - Route exceptions to stakeholders immediately
  3. Set Clear Approval Deadlines - Define SLAs and escalation triggers in configuration
  4. Document Everything - Enable full audit trail capture for regulatory requirements
  5. Review Results - Check investigation findings before auto-approval on high-risk items

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Common Questions

The Fund Accountant Assistant can reconcile across multiple custodians simultaneously. Configure each custodian as a separate data source, and it will identify discrepancies and provide match/mismatch analysis for holdings and cash.
Yes. Each fund can have customized approval workflows. Configure which stakeholders must approve, their approval authority limits, and escalation rules. The agent will route appropriately.
The agent will escalate to human review with a summary of investigation performed, data compared, and hypotheses about potential causes. It documents all findings to save time for manual investigation.
Yes. It automatically reconciles FX rate differences and can separate currency-related variances from holdings variances. Configure base currency and rate sources for each fund.
The agent executes pre-configured RG94 validation templates that follow regulatory requirements. It maintains audit trails proving compliance with tolerance monitoring, breach escalation, and control testing requirements.
Yes. Every investigation creates an audit record with full context: what was compared, what discrepancies were found, what resolution was proposed or implemented, and who approved it. All evidence is exportable for auditor review.
The agent tracks variance history and identifies patterns. It can suggest process improvements or escalate recurring issues for root cause analysis with other specialists (e.g., Data Quality Analyst or Integration Specialist).
Basic setup requires 2-4 hours: configuring fund parameters, tolerance thresholds, approval workflows, and data source connections. The agent works immediately while you refine configuration based on experience.

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Getting Started

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Quick Setup

  1. Connect Data Sources - Provide administrator and custodian data feeds
  2. Configure Funds - Set up each fund with NAV tolerance thresholds
  3. Define Approvals - Specify who approves certifications and at what levels
  4. Start Validating - Request daily validation for a single fund to test the workflow

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First Tasks

  • Request a NAV validation for your highest-priority fund
  • Review a break investigation to understand the agent’s analysis approach
  • Coordinate a month-end certification to validate the approval workflow
  • Generate a compliance report to confirm audit trail capture

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Escalation Path

If you encounter complex issues beyond the agent’s standard capabilities, it will escalate to:
  1. Data Quality Analyst - For deep data profiling issues
  2. Compliance Sentinel - For regulatory interpretation questions
  3. OpsHub Orchestrator - For complex multi-domain investigations
Ready to automate your fund accounting? The Fund Accountant Assistant is ready to handle daily validation, break investigation, and certification coordination. Start with a single fund and expand as you see the time savings and operational benefits.

Learn More About the Fund Accountant Assistant

Explore how the Fund Accountant Assistant fits into the broader OpsHub Agent System and integrates with other specialist agents.