The quality of our offer is founded on the professionalism of our team, as well as on adopted technological and organisational solutions.
Basing on a modern information system, computer and telephone infrastructure, and professional correspondence handling devices, as well as using the expertise of our employees, within the framework of transfer agent service addressed to pension funds, we offer the performance of the following tasks:
- keeping a register of fund's members,
- handling correspondence,
- call centre services for fund's customers,
- handling and managing complaint and investigation procedures,
- communications with external entities determined by the law,
- management of internet applications offered to fund's customers,
Further advantages of services provided by PKO Finat include:
- Improvement of quality of provided services. The AT system is constantly developed. It includes many original solutions which are useful in the current work of General Pension Societies. It results in an opportunity which us unique in the transfer agents market and consists in the possibility of adjusting information system to individual needs of a given General Pension Society. It is particularly important in terms of making the system available for the employees of the Investment Fund Company.
- Access to modern technology without the need to incur considerable capital expenditures. If you decide to cooperate with Finat, you can be sure that you use modern technologies, which are bought and maintained at the expense of Finat, while the only costs you incur are those of provided services calculated in proportion to the scale of activity.
- Access to expertise and experience of experts working at Finat. Our specialists are working for you as much as it is required within the scope of their tasks. Such an organisation of work is much cheaper than direct employment of a team of specialists and maintenance of expensive posts.
Our employees have considerable experience as far as funds accounting services are concerned. A dedicated team of specialists ensures professional funds' financial bookkeeping in compliance with provisions of law and detailed procedures agreed individually with each Customer.
PKO Finat offers to elaborate fund's accounting policy and operational procedures (rules for cooperation), to agree them with the depository bank and investment funds company, as well as to update them on a current basis.
We ensure high standard of provided services, security, flexibility and openness for individual requirements and suggestions of every Customer.
We ensure security of data which are entrusted to us, we archive daily operations in electronic and paper form. In particular, we carefully handle adjustments and other emergency operations. We keep records related to personal data protection, e.g. we implement detailed procedures relating to data access protection.
The scope of accounting services we offer includes:
Keeping accounts and valuating fund's assets, as well as determining operation’s result
Accounts of a fund are kept in accordance with applicable accounting standards. Assets of and liabilities of the fund are determined according to applicable provisions of law, find's statutes and accounting policy received in conformity with procedures for conveying accounting data agreed between PKO Finat the Customer and entities engaged in providing services to the fund.
Keeping accounts includes above all:
- comprehensive bookkeeping services provided to the fund (keeping the ledger and subsidiary ledgers)
- records of transactions concluded by the fund
- records of all determined stocks, costs and proceeds of the fund
- records of valuation of components of the investment portfolio
- records of financial settlements of the fund
Calculation of net asset value (NAV) and of NAV per unit of account
PKO Finat is prepared to valuate assets and net assets of a fund as often as necessary according to the Customer, taking requirements stipulated in the statutes and in provisions of law into consideration.
Our services comprise the calculation of net asset value and of net asset value per different types of units of account.
Reconciliation of asset value, net asset value and of net asset value per unit of account agreed with the depository bank
While providing accounting services to funds, PKO Finat consults with the Depositary Bank the state of accounts which constitute the basis for calculation NAV and NAV per unit of account to the extent and at dates determined in the fund's statutes and at other dates individually agreed within the framework of cooperation procedures.
Control of investment limits
Within the framework of provided services, PKO Finat verifies whether fund's investment policy is adjusted to investment limits stipulated in provisions of law and in the fund's statutes. If necessary, Finat provides the Customer with data/reports necessary to prepare information for the Polish Financial Supervision Authority.
Supervision of fund's financial settlements
Our services include:
- Confirming all transactions concluded between the fund and the depository bank, as well as qualifying them to a given valuation date,
- Supervising timely and correct transaction settlements concluded in capital and money markets,
- Preparing and conveying - at dates agreed individually with the customer - cash flows of the fund,
- Making, on Customer's behalf, payments of liabilities and performing other transfers of monetary means from find's accounts,
- Verifying securities and cash account balances,
- Conducting settlements with Revenue Offices, including elaboration of tax returns, in the scope agreed in principles of cooperation.
This service includes elaboration for TFI of current reports for every valuation date, comprising in particular the following information:
- Comparison of the state of fund's accounts
- Comparison of quantity and value of components of the fund's investment portfolio
- Information about the net asset value and the net asset value per unit of account
- Information about investment limits
Dates for transfer and detailed scope of other reports concerning the fund's activity elaborated for the Investment Funds Company are to be agreed.
Within the framework of reporting, PKO Finat prepares:
- Quarterly, semi-annual and annual financial statements of the fund in the form required by provisions of law and by the Polish Financial Supervision Authority.
- Financial statements elaborated for the National Bank of Poland.
- Keeps a transaction register required under provisions of law.
Making fund's accounts available for purposes of audit or control
In the event of a necessity to audit or control by the Customer, Auditor or other Body authorised the audit fund's books, PKO Finat makes it possible to access the books as soon as possible after a notification about the planned audit or control.
Within the framework of this service, PKO Finat offers constant cooperation with a statutory auditor ready to help in a periodic review/audit of books and in elaborating financial statements of the fund.