Jonathan Flitt
Global Head of Alternative Investment Solutions
Jonathan Flitt is an experienced operating executive. Jonathan has held positions across brokerage, wealth management, asset management, alternatives including, hedge fund, credit fund, private equity and private debt administration and middle office servicing. His experience includes leading global operations, product management and product development, leading large scale technology development projects and implementations, building partnerships and managing client relationships.
Jonathan is currently the Global Head of Alternative Investments for Clearwater Analytics. In this role, Jonathan leads product management, strategy and execution and works to design and implement innovative solutions that drive digitization, operational efficiency and enhance service capabilities for clients.
Prior to this role Jonathan was the Head of Credit Fund and Private Debt Fund Services within BNY Mellon’s Alternative Investment Services business. In this role, Jonathan led strategy and execution, designed, and implemented innovative solutions that drove digitization, operational efficiency and enhance service capabilities for clients. Prior to this role, Jonathan held several leadership positions at BNY Mellon across Alternatives and Middle Office Services
As an industry veteran, Jonathan also held a senior Product Management and Operations roles across Citigroup’s wealth management, asset management and securities services businesses. Based in New Jersey, Jonathan holds a Master of Business Administration from New York University, The Leonard N. Stern School of Business and a Bachelor of Science in Business Administration from the University at Albany.
In January, the SEC proposed the implementation of new measures to allow for greater scrutiny into private equity funds and some hedge funds by increasing the frequency of the submission of confidential information using Form PF. This change aims to close gaps and increase transparency, starting with reporting departures of funds’ general partners, reporting extraordinary investment losses, and reduce reporting thresholds.
In a recent article published in Hedgeweek, I explained what these changes mean and how they will affect what and when firms report to regulators. One key takeaway: To meet these new requirements, managers must implement technologies that arm them with a greater ability to measure and report on their holdings.
Three things you should know about the SEC’s double down on disclosure:
- Form PF was adopted in 2011 as part of a regulatory overhaul. Since 2013, investment in alternative assets, such as private equity, real estate, debt, and more, has more than doubled from $5 trillion to $11 trillion and it is expected to reach $17 trillion by 2025.
- The SEC will reduce reporting thresholds from $2 billion AUM to $1.5 billion. These changes would need to be reported within one day.
- Only 8% of managers in the insurance space analyze their investment portfolios daily, while 46% choose to do so monthly, 30% quarterly, and 3% annually.
Is your solution keeping up?
With constant market volatility, managers who do not adopt a modern technology solution will be unable to spot serious financial risks in a timely manner. This will make it impossible to meet the SEC’s new regulatory requirements, several of which mandate same-day reporting.
Clearwater Analytics offers the data and reporting needed to keep up with regulations as they unfold. To learn more about our offering, speak to one of our experts. The full Hedgeweek article can be found here.