Financial institutions establish a Nevada investment subsidiary to outsource and manage all or a portion of their fixed income investment portfolio. By partnering with First Business Consulting Services, your bank will gain the experience and knowledge of more than 60 years of combined experience managing bank balance sheets.
Your Nevada subsidiary shares office space at our offices located at 4101 Meadows Lane, Suite 100, Las Vegas Nevada 89107, which includes:
• Office space
• Computer equipment
• Optional dedicated phone line
• Secured, fire proof file cabinets
• Conference room
GENERAL LEDGER SERVICES
We provide general ledger services for the daily accounting of your bank’s investment subsidiary.
• Daily transaction input
• Monthly financial statements
• Data files mapped to parent bank general ledger
• Reconciliation of investment portfolio reports to general ledger and safekeeping system
• Controls and processes to be reviewed annually by Plante Moran
We will provide names of experts you can select to serve as your investment officers and bring:
• Over 60 years combined investment management experience
• A balance sheet approach to investment management
• Expansive bank investment portfolio expertise in all asset classes
• Execution through your existing broker-dealer based on established investment parameters
BOND ACCOUNTING & SAFEKEEPING SERVICES
Your investment subsidiary can choose to keep its current bond accounting and safekeeping relationships or have First Business negotiate these services, with the benefit of transparent fees.
• To protect the investment subsidiary’s assets, all purchases and sales are delivery versus payment (DVP) or receive versus payment (RVP)
• Free deliveries will only be permitted with prior consent from parent bank
• Outgoing wires will only be permitted if they are processed with a repetitive wire destination approved by the parent bank
• Bond accounting will be processed and reconciled monthly
• Investment portfolio analytics will be generated quarterly with custom analysis available
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