I recently returned from the Annual Conference of the Government Investment Officers Association (GIOA) in Las Vegas, which QED Financial Systems sponsored. The event drew together the country’s leading fiduciaries and presented the opportunity to enhance insight into the unique challenges facing our clients in the public sector.
The two-day conference covered a wide range of topics—from the impact of current economic conditions on government investment practices to portfolio strategies, investment policies and risk management. LGIPs were also a hot topic, with a session on GASB’s SEC Rule 2a-7 requirements and how recent revisions will affect them, as well as a panel discussion with GIOA members representing state LGIP pools.
The breadth and depth of topics is representative of the responsibilities of the government investment officer. Acting as both investment manager and public servant brings a wider range of duties as they must ensure obligations are met from both the financial and fiduciary perspectives.
Open forums throughout the conference provided the opportunity to hear first-hand from our clients and other investment officers about the challenges they face every day. The complexity of custodial relationships was at the forefront of discussion topics. Many attendees worried that the quality of service they are receiving from their custodians could impact oversight.
It’s no wonder so many of them, along with many other state treasuries and public retirement systems, choose to outsource their investment accounting, information delivery and reporting, and operational functions to QED. Our advanced technology platform provides specialized functionality targeted to the needs of public finance—like automated operational processes, audit compliance, and LGIP and commingled fund support. And, our service-focused delivery model provides direct access to the country’s foremost public fund accounting experts so they always have the most accurate, up-to-date investment information available. The resulting independent book of record keeps control in their hands.
Author Judite Rosa is the Director of Education and Training for QED Financial Systems. She can be reached via email at email@example.com.