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INVESTMENT FUNDS: Step 2 Setup your Systems, Service Providers and People

Fund Elements provides InFORM, an Investment Fund Operational Risk Management solution, that identifies high risk processes and makes them safe. Our objective is to help you eliminate operational errors.




Go to www.fundelements.io to find out more about InFORM's 5 Steps to make High-risk Processes safe and to sign up for a 14 Day Free Trial.


InFORM's 5 Steps to make High-Risk Processes Safe

In my last blog, I talked about Step 1 and how Fund Elements uses our Pre-built Processes and Controls to help you accelerate the build phase of your Standard Operating Model.


In this blog, I will focus on Step 2, how to setup your system, service provider and people dependencies on the Elements.cloud Business Analysis app.

Developing Business Analysis and Problem solving skills is a key priority to enable Digital Transformation.

Step 2 completes the key dependencies required for the Top 3 Levels of your Standard Operating Model.

Four Part Process Definition

There are four parts to the process definition in your Standard Operating Model:

1. What to do? The action that needs to be taken.

2. When does it happen? The trigger that kicks off the activity.

3. Who does it? The resources used to complete the activity.

4. What gets produced? The expected business output.

This blog is about the resources, who does it?


Four Part Process Definition
The four part process is designed to get everyone on the same page.

Everything that your fund does during its operating life-cycle can be stated using this four part process definition.

Calculate Net Asset Values

Lets use the Calculate Net Asset Values process to illustrate how this would look in the Elements.cloud app.


Calculate Net Asset Values Process

The approach is visual and accessible to everyone who needs to know. It also hierarchical, allowing you to break down Calculate Net Asset Values process into more detail (and into as much detail as you want!).

The key processes in Calculate Net Asset Values that featured in our previous blog

The four part process definition is used by Business Analyst's to get everyone on the same page. It is easy to understand and delivers a number of dependency models that are essential to running your operations.


Developing Business Analysis and Problem solving skills is a key priority to enable Digital Transformation.

Outsource Oversight

This is a matrix that cross-references your funds operational requirements to the service providers who are responsible for completing them.


It is used to drive your organisations effectiveness and ensure that nothing falls between the gaps.

Competency Framework

A matrix of the activities that need to be completed and the job roles that perform these activities.


Your funds competency framework provides the job specifications for your people needs.


InFORM's setup includes Pre-approved Controlled Function (PCF) role definition.

System Dependency Model

A matrix that cross-references your funds operational requirements to the systems used to automate the day to day activities.


InFORM has built in GDPR (General Data Protection Regulation EU 2016/679) functionality to record your assessment of the data held by each system.


In the next blog, Step 3 Identify Operational Risks, I will talk about how we use data tables, attached to a process definition, to allow your teams to record and analyse operational risks.


For more information on InFORM's functionality, the 5 Steps to Make High Risk Processes Safe and the 3 Implementation Plans options go to www.fundelements.io/inform.

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