BFG completes certification process
Fund services provider Butterfield Fulcrum Group has announced the successful completion of an examination of its global middle and back office, fund administration solutions and services for the SOC 1 Type II Certification.A big four audit firm has looked at the design and effectiveness of specified controls and the scope of the report covered eight locations and jurisdictions in which Butterfield Fulcrum operates or has offices.The 2011 SOC 1 Report (formerly SAS 70 Type 2 reports) were prepared in accordance with the SSAE No 16 and the ISAE 3402.Tim Calveley, principal shareholder of Butterfield Fulcrum, said: “One of our most important objectives is to demonstrate and validate industry-leading controls and processes. Building upon previous independent examinations, completed annually since 2006, we have further subjected our middle office solutions, which leverage the Paladyne suite of products, to similar rigorous testing as part of the new ISAE framework.”The independent examination consisted of an evaluation of the design and operating effectiveness of controls related to month end net asset value processes, investor relations processes and information technology.