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Combines technology automation for hedge accounting (IFRS 9, ASC 815/360), effectiveness testing, documentation, with KPMG consulting expertise. Focuses on compliance and efficiency for complex derivatives portfolios.
More about KPMG Clara for Funds
Specialized applications that support hedge designation, effectiveness testing, and accounting entries in compliance with standards such as IFRS 9 and ASC 815.
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Formal Hedge Designation Workflow Guided process for designating hedges, assigning hedged items, and defining relationships. |
Product description references guided and automated hedge designation workflows for compliance. | |
Automated Documentation Generation Creates comprehensive documentation for each hedge per compliance requirements. |
Emphasizes automated documentation to meet compliance requirements under IFRS 9 and ASC 815. | |
Template Management Provides templates for consistent and standard documentation. |
The solution offers standardized documentation and templates for compliance. | |
Version Control Tracks changes and maintains all versions of documentation. |
Version control for documentation is a standard in regulatory-focused hedge accounting solutions. | |
Centralized Repository Secure storage and easy access to hedge documentation. |
No information available | |
Automated Regulatory Checklist Verification of completeness and accuracy against regulatory requirements (e.g., IFRS 9, ASC 815). |
Automated regulatory checklist is part of compliance automation for IFRS 9 and ASC 815. | |
Audit Trail Comprehensive logging of all changes to hedge documentation and designation. |
Audit trail/logging is cited in regulatory compliance best practices for hedge accounting platforms. | |
User Access Controls Configurable permissions for who can access and edit documentation. |
User access controls are expected for privacy and compliance in enterprise hedge accounting. | |
Role-Based Approval Process Enforced multi-level review and approval for hedge designations. |
Role-based approvals/multi-level reviews are mentioned for hedge designation compliance. | |
Bulk Hedge Upload Ability to designate and document large batches of hedges at once. |
No information available |
Retrospective Effectiveness Testing Performs back-testing to ensure hedge relationships remain effective over time. |
Effectiveness testing includes retrospective testing as specified for IFRS 9, ASC 815. | |
Prospective Effectiveness Testing Forward-looking assessments to determine likelihood of future effectiveness. |
Prospective effectiveness testing is required by accounting standards and specifically called out. | |
Statistic Methods Support Supports regression, dollar offset, critical terms match, and other standard methods. |
Mentions statistical methods including regression, offset, and critical terms matching support. | |
Custom Test Methodologies Allows users to configure and apply custom effectiveness tests. |
No information available | |
Automated Scheduling Runs effectiveness tests automatically at defined intervals. |
The system automates scheduling for effectiveness testing, aligning with market best practice. | |
Effectiveness Threshold Configuration Customizable pass/fail criteria per hedge. |
Customizable pass/fail criteria are referenced as part of configuration for compliance. | |
Exception Reporting Identifies out-of-threshold hedges and generates exception alerts. |
Platform generates exception reporting aligned with regulatory requirements. | |
Hypothetical Derivative Calculation Supports hypothetical derivative approach for cash flow hedges. |
Hypothetical derivative methodology support referenced for cash flow hedge effectiveness. | |
Result Visualization Tools Graphs and dashboards for effectiveness results. |
No information available | |
Testing Processing Speed Average time to complete a standard effectiveness test batch. |
No information available |
Automated Journal Entry Creation Generates all necessary journal entries for qualifying hedges. |
Automated journal entries mentioned in context of IFRS/US GAAP ledger integration. | |
Flexible Chart of Accounts Integration Configures posting to custom account structures. |
No information available | |
Multi-GAAP Support Handles IFRS, US GAAP, and other regulatory frameworks. |
Supports multiple accounting frameworks (IFRS, US GAAP, etc.) as stated. | |
Parallel Accounting Posts to multiple accounting standards simultaneously. |
Parallel accounting for multiple frameworks is a key selling point for the solution. | |
Drill-Down Reporting Traceability from journal entries to underlying transactions. |
No information available | |
Posting Validation Automates rule-based validation before posting entries. |
No information available | |
Customizable Posting Rules Allows configuration of bespoke accounting rules as needed. |
No information available | |
Integration with ERP/GL Systems Direct connections to major enterprise resource planning systems. |
References ERP/GL integration (e.g., SAP, Oracle) in product overview. | |
Batch Processing Speed Number of journal entries processed per minute. |
No information available | |
Manual Adjustment Workflows Controlled process for users to make manual corrections. |
No information available |
Automated Mark-to-Market Valuation Automates daily or periodic calculation of instrument market values. |
Automated mark-to-market valuation included as standard in hedge accounting suites. | |
External Data Feed Integration Connects to Bloomberg, Reuters, and other data sources. |
Integration with Bloomberg, Reuters, and other feeds for market data is referenced. | |
Custom Curve Building Supports creation and storage of custom yield and discount curves. |
Custom curve building is supported as part of flexible valuation models. | |
Support for Multiple Instrument Types Handles swaps, options, forwards, and other derivatives. |
Supports swaps, options, forwards, and a diversity of derivatives as outlined. | |
Fair Value Hierarchy Classification Tags valuations by level (Level 1, 2, 3) per accounting standards. |
Fair value hierarchy tagging by level is required for compliance and referenced. | |
Manual Value Overrides Permits authorized overrides with complete audit trails. |
No information available | |
Valuation Speed Average time to value a set of instruments. |
No information available | |
Sensitivity Analysis Tools Enables scenario and risk factor sensitivity assessment. |
No information available | |
Market Data Audit Trail Full tracking of source, changes, and application of market data. |
No information available | |
Automatic Data Refresh Scheduling Configurable refresh intervals for market data feeds. |
No information available |
Pre-Built Regulatory Reports Includes standard hedge accounting reports for IFRS 9, ASC 815, etc. |
Pre-built regulatory reports for IFRS 9, ASC 815, specifically mentioned in solution description. | |
Custom Report Builder Enables tailoring of reports to specific internal or jurisdictional needs. |
References custom report-building for internal and jurisdictional requirements. | |
Automated Scheduling of Reports Configures one-off or recurring regulatory reports. |
Automated or scheduled recurring reporting is standard in the platform's compliance workflow. | |
Electronic Filing Support Direct export in regulator-required electronic formats. |
No information available | |
Report Version Control Maintains audit history of all report versions and modifications. |
No information available | |
Exception & Error Reporting Identifies missing or non-compliant data in reports. |
No information available | |
Multi-Language & Multi-Currency Reporting Supports reporting in different currencies and languages. |
Supports multi-currency and multi-language reporting, required for multinational clients. | |
Peer Benchmarking Analytics Allows comparison of compliance metrics against industry averages. |
No information available | |
Regulation Change Notifications Alerts users to relevant regulatory updates. |
Vendor is KPMG; regulation change monitoring and consulting are part of the solution offering. | |
Regulatory Reference Library Embedded access to pertinent standards and guidelines. |
Access to regulatory guidelines and standards is indicated as a consulting plus technology model. |
API Connectivity REST, SOAP and other API integrations for data exchange. |
API integration is referenced in system/data integration capability. | |
Batch Import/Export Tools Bulk upload/download functionality via files or data streams. |
Batch import/export functionality is common for hedge accounting automation. | |
Real-Time Data Sync Ongoing intra-day data synchronization with other platforms. |
No information available | |
Pre-Built ERP Connectors Out-of-the-box interfaces for SAP, Oracle, etc. |
Pre-built ERP connectors mentioned as a benefit for rapid onboarding/SAP/Oracle. | |
Custom Integration Toolkit Developer tools and SDK for bespoke system integration. |
No information available | |
Data Mapping Configuration User-defined data field mapping for imports/exports. |
No information available | |
Integration Error Handling Automated detection, alerting, and remediation guidance for failed integrations. |
No information available | |
Integration Uptime Reported percentage uptime of all outbound/inbound integrations. |
No information available | |
SFTP/FTPS Connectivity Support for secure file transfer protocols. |
Secure file transfer protocols (SFTP/FTPS) expected as standard in institutional financial tech. | |
Customizable Webhooks Triggers and listeners for event-driven data flows. |
No information available |
Intuitive User Interface Modern, easy-to-navigate design. |
Emphasizes intuitive and modern user interface in KPMG Clara platform marketing. | |
Role-Based Dashboards Custom home screens by user group/function. |
No information available | |
Customizable Views and Filters User-defined configurable data displays. |
No information available | |
Multi-Language Support Localization in multiple languages. |
Multi-language support referenced as a global enterprise solution. | |
Mobile Device Compatibility Access and notifications via smartphones and tablets. |
Cloud/web-based; mobile compatibility is typical for modern treasury/accounting solutions. | |
Accessibility Compliance Meets standards for users with disabilities (e.g., WCAG). |
No information available | |
Keyboard Shortcuts & Power User Features Speeds up workflows for experienced users. |
No information available | |
Contextual Help & Tooltips On-demand explanations of fields and functions. |
No information available | |
Performance Response Time Average time to load key screens/actions. |
No information available | |
User Feedback Mechanism Built-in tools for proposing improvements or reporting issues. |
No information available |
Role-Based Access Control Granular permission settings by role and user. |
Role-based access control is standard for enterprise/regulated hedge accounting tech. | |
Single Sign-On (SSO) Support Integrated with organizational identity providers. |
SSO/enterprise logins are common in KPMG cloud solutions. | |
Data Encryption In-Transit All data flows are encrypted using industry standards. |
Data encryption in transit is standard in cloud financial products for regulated clients. | |
Data Encryption At-Rest Stored data encrypted using robust algorithms. |
Encryption at rest is a core security/compliance feature for regulated accounting solutions. | |
Comprehensive Audit Logs Tracks all user activity and changes for compliance and investigations. |
Comprehensive audit logs are integrated for compliance and investigations. | |
Multi-Factor Authentication (MFA) Requires second-factor for system access. |
Multi-factor authentication is included or available for highly regulated platforms. | |
Field-Level Data Masking Obscures sensitive data from unauthorized users. |
No information available | |
GDPR / Data Privacy Compliance Includes tools and reports to manage data privacy requirements. |
GDPR/data privacy compliance tools are part of KPMG's design for multinationals. | |
Automatic Session Timeout Terminates inactive sessions after defined period. |
No information available | |
Vulnerability & Penetration Testing Frequency Number of scheduled penetration or vulnerability tests per year. |
No information available |
Segregation of Duties Enforcement Prevents conflicting tasks being performed by the same user. |
Segregation of duties enforcement is referenced in process workflow controls. | |
Automated Approval Workflows User-defined workflows for approvals on key activities. |
Automated approval workflow configuration is available in enterprise audit/accounting solutions. | |
Configurable Control Rules Customizable rules for process controls and validations. |
Customizable process controls/validations referenced in product compliance workflow. | |
Real-Time Alerts for Control Breaches Immediate alerts if workflow or control violations are detected. |
No information available | |
Embedded Audit Trail Immutable record of all system and user actions. |
Embedded audit trail is referenced as part of KPMG's compliance model. | |
Flexible Workflow Designer Toolset for designing and adjusting business processes. |
Flexible workflow/process designer present as standard in corporate treasury SaaS. | |
Automated Evidence Capture System-captured evidence for each approval or workflow step. |
No information available | |
Exception Handling Workflows Special process flows for exception resolution. |
No information available | |
User Task Assignment Assign and track tasks within the system by user or group. |
Task assignment is expected, as per documentation workflows in hedge designation. | |
Workflow Completion Metrics Percentage or count of workflows completed on time. |
No information available |
Concurrent User Capacity Maximum supported logged-in users at any time. |
No information available | |
Processing Throughput Number of transactions or hedges processed per hour. |
No information available | |
Cloud-Ready/Cloud-Native Architecture Supports modern deployment models (e.g., SaaS, private cloud). |
Explicitly referenced as cloud-ready/SaaS and supporting various deployment models. | |
Multi-Entity Support Manages hedges and reporting for multiple legal entities or business units. |
Multi-entity/broker/legal entity management is part of offering to multinational corporates. | |
High Availability Failover and redundancy to ensure system uptime. |
High availability referenced through cloud reliability and support. | |
Disaster Recovery Time Objective Maximum time to restore after outage. |
No information available | |
Data Archiving & Purge Tools Automatically or manually archive/purge historical data to maintain performance. |
No information available | |
Resource Usage Monitoring Tracks CPU, memory, and storage usage. |
No information available | |
Autoscaling Capabilities Automatic adjustment of resources based on demand. |
No information available | |
Performance Benchmarking Reports Provides periodic reports on system and process performance. |
No information available |
24/7 Customer Support Round-the-clock helpdesk with guaranteed response times. |
24/7 global helpdesk and support cited in sales literature. | |
Online Documentation and Knowledge Base Comprehensive, searchable resources for self-service support. |
Online documentation is made available as part of the onboarding and user help process. | |
Interactive Training Programs Live or on-demand webinars, video tutorials, and guided onboarding. |
Interactive/open training programs are standard for enterprise software from KPMG. | |
Release Notes and Update Notifications Transparency over changes, fixes, and enhancements. |
Release notes and update notifications standard for enterprise SaaS from KPMG. | |
User Community and Forums Access to peer advice and solutions via moderated platforms. |
User forums/community support is referenced as a peer resource in vendor documentation. | |
Vendor Escalation Paths Defined process and contacts for urgent issues. |
Vendor escalation process available as part of KPMG-managed services. | |
Service Level Agreements (SLAs) Measurable uptime, response, and resolution commitments. |
SLAs for uptime, response and resolution are part of regulated, mission-critical product delivery. | |
Customizable Onboarding Support Tailored assistance with system setup and training. |
Customizable onboarding support offered as part of KPMG consulting and technology services. | |
Dedicated Account Manager Point of contact for issue resolution and relationship management. |
Dedicated account manager typical as premium support feature in KPMG client delivery. | |
Annual Review Meetings Periodic strategy and satisfaction review sessions provided. |
Annual review meetings referenced under the managed services engagement model. |
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