NEW YORK, Sept. 9, 2014 /PRNewswire/ -- The Employees Retirement System of Texas (ERS) has selected n-Tier's Control Workbench as a centralized data reconciliation service for their finance and investment operations departments.
With a complex mix of systems across both finance and investment operations and large numbers of reconciliation control processes required n-Tier provides ERS with a single solution which can handle all of their different and complex reconciliation needs.
"n-Tier provides ERS the flexibility to perform reconciliations from any source of data, and the time required for implementing and rolling-out new reconciliations has been remarkably fast," said Jason Evert, Business Analyst, ERS.
"Using n-Tier's platform allows ERS to quickly identify and reconcile data errors among thousands of daily investment positions from multiple sources."
"With cloud hosting capabilities, n-Tier's platform allows ERS to free up in-house IT resources and save the organization long-term maintenance costs," said Jose M DeLeon, Business Analyst Team Lead, ERS.
"n-Tier's unique facilities for dynamically creating and assigning portfolio groups has allowed ERS to consolidate portfolio accounts among multiple operations staff improving our ability monitor and manage errors across different portfolios."
Using n-Tier's platform enables ERS to centralize and standardize control processes for reconciliations which initially include: Investment Positions, Accounting Benefits Data, Portfolio Pricing, Cash Balances, Daily NAV, Daily Trades Receivables and Payables, Monthly Assets (Liabilities, Revenues, and Expenses), Monthly Cash Transactions, Monthly Outstanding Tax Reclaims.
"We are proud to have been selected by ERS to provide a solution to their reconciliation and control process requirements. And, are delighted that they can benefit from the unique flexibility of our platform to automate and stream-line their reconciliation processes for such diverse sets of data," said Peter Gargone, CEO of n-Tier
For more information on n-Tier, go to www.ntierfs.com
The Texas Employees Retirement System is responsible for administering the state retirement plans for Texas public employees and state officials with an investment trust that is valued at more than $25 billion and nearly 200,000 active and retired members. ERS also manages the Texas Employees Group Benefit Program which provides health coverage to more than 500,000 state and certain higher education employees, retirees and their families.
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