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Asset Management Industry Coronavirus Resources

The COVID-19 pandemic represents an enterprise risk for fund managers and asset management businesses. Please contact us to discuss how Baker Tilly can help you to:

    Manage risk and ensure compliance

    • Evolve your enterprise risk management plans and capabilities to address the current situation.
    • Review debt covenants for ongoing compliance.
    • Review fund redemption policies and project potential liquidity and cash flow needs.
    • Prepare your governing board to continue to fulfill its responsibilities during this time of crisis.
    • Work closely with fund administrators and internal specialists to consider the impact of ongoing investment valuations.
    • Communicate with investors and other interested parties.
    • Assure required accounting and reporting mechanisms are in place.

    Drive business continuity

    • Address the integrity and cybersecurity risks of increasing investor communications.
    • Assess the sufficiency of your disaster recovery and business continuity plans.
    • Ensure that your major change initiatives (such as systems implementations) continue successfully during this difficult time by employing a “project risk review” approach.
    • Plan for workforce shortages because of limited contact or employee-based workforce availability.

    Ensure health and safety

    • Identify key contingencies and protocols relative to office-related incidents and responses.
    • Evaluate necessary modifications to to employee wellness programs and other critical initiatives.
    • Develop a comprehensive crisis communication plan with clear escalation procedures and lines of authority.

    Assess fiscal sustainability and asset management rigor

    • Develop immediate and long-term financial modeling for business continuity and net capital needs.
    • Identify impacts on capital projects and contracts (e.g., change orders, force majeure clause leverage), use of facilities and temporary modifications for quarantined space creation.
    • Determine the potential and strategy for insurance claims.