In addition to high-quality, configurable software solutions, Black Mountain also offers a range of professional services to support our diverse and rapidly growing client base. Like all of our solutions, these services can be tailored for individual situations or businesses, and are constantly evolving to keep pace with the ever-changing financial services industry.
Asset & Loan Servicing
Firms require timely and accurate tracking of loans held in their portfolios by individuals that understand the dynamic nature of loans and the loan market. Often, the hiring and training of staff to perform back office operations is not core to the central focus of the firm. Black Mountain’s Asset & Loan Servicing offering allows our clients to focus on credit research, trades and monitoring while our staff handles the day-to-day operations of the investments.
- Receive and process agent bank notices on behalf of our clients for broadly syndicated loans
- Originate and send notices on behalf of our clients for direct lending deals
- Reconcile positions and transactions to the details provided on the agent notices
- Interest payments are accurate and received when expected
- Interest rate floors/ceilings are enforced
- Accrual options, including PIK payments, are modeled correctly
- Prepayments are receive and schedules maintained to facilitate accurate cash projections
- Identify cash discrepancies between our system and the agent bank notices
- Send notifications to all parties along with documentation to resolve differences
- Display reconciled/unreconciled cash within the system and via reports to provide visibility to clients
- Optional: Daily cash reconciliation to a third party is also available as an additional service
- Reconcile all positions against the administrative agent bank
- Contact the agent when needed and provide documentation and calculations of principal activity, including the client on all correspondence
- Optional: Reconciliation of all positions to additional third parties is also available as an additional service
- Receive and enter all trades as of trade or settlement date
- Reconcile all trade calculations, including delayed compensation, to the trade documents provided to verify cash flows
- Optional: Act on behalf of the client to access ClearParor other loan settlement sites and move the trade through the settlement process after the client has booked the initial loan trade
In order to ensure timely reconciliation of compliance reports, Black Mountain has introduced a Compliance Servicing offering for clients. This service includes:
- Monitoring monthly reporting periods by portfolio
- Importing compliance report into reconciliation tool
- Identifying data issues and research discrepancies
- Identifying modeling issues and research discrepancies
- Resolving internal data or modeling discrepancies
- Resolving discrepancies with third party / trustee
While implementing Black Mountain’s solutions produces incredible efficiencies and cost savings, the need to constantly refine processes and update tools is a top priority for many of our clients. Black Mountain delivers tremendous flexibility to make ongoing improvements and adjustments to key processes, tools and reporting. Our Implementation Specialists are ready to assist with any modifications, whether large or small, to ensure our clients remain efficient and competitive.
Minimize valuable time and resources devoted to upgrading by leveraging our QA Team to test any custom functionality or unique configuration. In addition to the normal robust regression testing we perform for every product release, we offer a range of Testing Services allowing our clients to stay focused on their business while remaining confident their unique implementation is always thoroughly compatible with any new functionality
We take pride in delivering only the highest quality service, so we provide every client access to a dedicated Relationship Manager who works to ensure their overall satisfaction with our products and services. To ensure the maximum value is received by every Black Mountain client, our Relationship Managers:
- Provide updates about Black Mountains products, services and capabilities
- Share best-practice solutions and case studies from across our client base
- Coordinate opportunities for networking, training and other requested services
- Act as advocates for our clients, accepting feedback for product and service improvements
- Work to address any challenge or concern or raised by our client
“Black Mountain’s solution provides a window on holdings across the entire $142 billion portfolio and will prove to be instrumental in improving our ability to make decisions and invest with the most accurate data at our fingertips.”
- Paul Thompson, COO, Barings
“While our PMR quarterly report is done in the same way as before we got Black Mountain’s solution, we save inordinate amounts of time when generating portfolio-wide reports because they are now automated. We have more controls around the accuracy of our data. What took hours and hours to complete before now takes very little time.”
- Brian Forde, Vice President, Newstar Financial, INC.
Wasmer, Schroeder & Company used Black Mountain’s solutions to achieve efficiency gains of 80% for its administrative team and 20% for its portfolio managers and traders.
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