Bond Accounting

Bond Accounting

The ICBA Securities Bond Accounting service combines a state of the art system, the support of a professional, experienced staff and a flexible superior service to provide a complete fixed-income securities accounting, reporting and management package. We call it The Complete Solution.

Complete System

Software

Our service is built upon COR-FS ParagonTM system; the industry’s most powerful investment accounting and management system. Paragon efficiently and accurately accounts for fixed-income investments, with a particular strength in amortizing securities.

We are committed to providing reports in compliance with RAP, GAAP and FASB requirements. This includes accurate accounting reports incorporating FAS91, FAS115, etc. and Call Report Schedules (FFIEC: RC-B & RC-R, NCUA: Schedule C and OTS: CMR). Regulatory agencies expect institutions to stress test the market prices of their investment securities regularly. We provide this information quarterly using our proprietary systems.

Data

The best software is not much without accurate data. Therefore, we use a variety of vendors to retrieve security indicative data and employ numerous quality controls. We built our market pricing system using statistical studies to determine the most accurate market price from a variety of vendors. Where third party vendors do not price securities accurately, proprietary technology has been developed with the assistance and continual monitoring of our trade desk.

Complete Support

Professional Staff

The service is run by a professional staff, including CPAs, that is focused not only on delivering an accurate and timely set of reports but complete customer service and support. The staff’s previous employment experiences include working at and auditing financial institutions. We are always available to review reports with you and promptly answer any of your and/or your auditor’s questions in a professional and courteous manner.

Conversion Process

One of the most important aspects (and sometimes the most dreaded) of changing Bond Accounting is the conversion process. Our customers have been amazed at the ease of converting to our system!

We do not require specific electronic files, original confirmations or the completion of long forms. We start and complete the conversion process in less than two weeks with simple portfolio information. A detailed set of reconciliation reports comparing our values to yours on par value, book value and interest receivable for each security will be provided with documentation of any differences. We can adjust our system’s book values to your present balances or evaluate new book values. There is no conversion fee.

Continual Support

After a smooth conversion, our professional staff will continue to work with you to ensure that you have an excellent Vining Sparks Bond Accounting experience. We have designed a number of quality controls to review both security data obtained electronically and transactional data input. There are no transaction fees for new purchases, sales, pledge changes, etc. Every month, faxes and/or emails will be sent to you as a reminder of the monthly schedule and deadlines. Our Help Line is promptly answered to handle any of your questions or possible revisions. We understand that our customers do not want reconciling items especially at quarter-end or year-end due to late trades or other changes. Revised reports can be sent electronically at no additional charge.

Complete Service

Custom Reports

Our professional staff will work with you to create a set of reports based upon your individual preferences and needs. We have a standard set of reports as the starting point. You can make modifications at any time by adding optional reports, deleting standard reports and/or changing characteristics of reports at no additional charge.


Report Viewer

You can receive your reports electronically (i.e. email) on the 3rd business day before month-end or via Fed Ex on the 2nd business day before month-end. When you choose the email option, you can view, print and search reports using our special software. This software is provided for multiple PCs at no charge. In addition, you can electronically store your monthly reports for use throughout the year with auditors and regulators.

Electronic Files

We have the ability to send you custom ASCII files electronically or on a diskette. We are presently providing files to customers that interface with several asset/liability models. Simple csv files can also be generated for use with spreadsheet applications (i.e. Excel, Lotus, etc.)

Color Executive Reports

Our monthly Bond Accounting service includes providing color executive management reports on key information such as portfolio allocation, yield analysis and summarized gains/losses. Many of our customers do not have color printers, so we can send multiple copies in the mail even if you receive other reports via email.

Unlike many other vendors, especially correspondent banks, who have ceased offering Bond Accounting services over the past several years and some vendors who remain in the business, our commitment to Bond Accounting is a major part of our firm-wide commitment to servicing the needs of fixed-income investors. With approximately 600 Bond Accounting customers and over 4,000 institutional fixed-income customers who depend on us for securities analytics and transactions, you can count on Vining Sparks’ 25 year tradition being there in the future.

If you would like additional information about Vining Sparks Bond Accounting (i.e. sample reports, fee schedule, etc.), please contact your account representative. You can reach us directly on the Bond Accounting Help Line at 901-762-6464 or by email at BondAccounting@ViningSparks.com.