The Investment Management Due Diligence Association (IMDDA), an exclusive investor-based organization dedicated to the professionals who perform investment and operational due diligence, today announced a new program giving its members access to background checks provided by Intelligo, a pioneer and leader in comprehensive, technology-driven background checks.
This new IMDDA member-only program provides access to Intelligo’s platform, Clarity, which leverages a combination of AI and human intellect to enhance the quality and depth of background checks. Intelligo Clarity far surpasses ponderous traditional background reports by vastly increasing sources reviewed, reducing report generation time, eliminating tedious paperwork with online SaaS reporting, and cutting error rates -- all provided with highly attractive economics.
“IMDDA is committed to helping members implement best practices throughout the due diligence process,” said Andrew Borowiec, Executive Director of the IMDDA. “Using Intelligo Clarity, IMDDA members around the globe can now save time and cut costs while at the same time boost background check quality and insights.”
According to Intelligo CEO Shlomo Mirvis: "We are driven by the vision of helping due diligence professionals gain full transparency before they enter and while involved in a deal. Our ultimate goal is to create a culture of trust, and we have built our technology to dive deep into the data and draw advanced connections so we can unearth every bit of information that can help your decision-making process and avoid unpleasant surprises."
Participating IMDDA members will now be able to draw upon Intelligo’s ground-breaking Clarity system features including:
Convergence and the Investment Management Due Diligence Association announce the immediate availability of E-RISK and I-RISK, a web-based analytical and reporting tool that gives users the ability to download reports and conduct comparative analysis of Asset Managers that have been cited for infractions in SEC enforcement actions. E-RISK allows anyone to download analytical reports detailing the Convergence’s view on what high risk business conditions led to the infraction while I-RISK allows IMDDA members to compare and contrast similar risk conditions in their Managers to those who have been cited by the SEC.
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Allocators to private funds are exposed to a variety of operational risks including regulatory and compliance risks, counterparty risks, systems and technology risks, portfolio valuation risks, cybersecurity risks, BCP and continuity planning risks. The list of risks is very long and is the primary focus of the people that undertake operational due diligence reviews of funds and fund managers. Perhaps the most critical risks are associated with cash controls and the prevention of theft and malfeasance. Both have occurred repeatedly throughout the industry, and are very highly correlated with a manager having poor cash controls. One of the ways to identify potential issues is to evaluate the managers' cash controls during the due diligence process. IMDDA Advisory Board Member John Ward was put together an interesting and timely white paper on operational due diligence and the evaluation of Cash Controls. To read the white paper as well as learn more about our upcoming programs please click here.
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