industry
Financial Services

Carved-out asset manager needs to better manage F&A post-close

Key results:
  • ​​Stood up finance and accounting function ​
  • Monthly close reduced by 10 days
Value levers pulled:
  • FP&A best practices implementation
  • Budgeting and forecasting optimization
  • Cash and liquidity forecasting
  • Controller support and process optimization
  • Financial close process acceleration​​​​​​

Picture this...

You’re a global asset manager headquartered in the US with over $500B in assets under advisement, carved out from a global universal bank. Challenges you face through the carve-out process result in functional teams, processes, and technology requiring support after separation. You need help completing the monthly close, providing accurate, consistent reporting to the board, handling restructuring initiatives, and TSA governance issues.

You turn to Accordion.

We stabilize and transform the finance and accounting function, increase visibility, and support process and technology improvement, by:

  • Serving as Interim Controller and Head of FP&A to advise leadership in key decisions such as financial auditor and tax advisor selection, interim accounting and finance personnel hiring, seller TSA operations negotiations, and managing the accounting and FP&A teams to deliver critical financial reports and analyses.
  • Collaborating with leadership and functional teams to create a detailed, operational budget within 3 weeks.
  • Refining a 13-week cash flow model and building a weekly liquidity management program, tracking and maintaining one-time costs to measure against key purchase agreement terms and cash forecasts.
  • Providing support across monthly and quarterly financial close analytics, implementing a stand-alone management reporting tool, planning future ERP requirements, and establishing standard operating procedures.
  • Facilitating a debt capital market transaction by building financial models and marketing materials, conducting working capital analyses, and facilitating lender diligence including appraisals and field audits.

Your value is enhanced.

You gain stability and guidance to stand up key functions, which allows you to reduce monthly close process by over 10 business days, produce insightful and consistent reports, and start implementing best practices for long-term finance and accounting success. The operations and IT functions are able to develop detailed operating models based on robust TSA scenario analysis and exit planning, comprehensive benchmarking analyses, and development of bottoms-up current and multi-year forecasts

Enhanced value:

You reap multiple benefits, including:

  • Stood up finance and accounting function
  • Monthly close reduced by 10 days