Exasoft was appointed to provide calculations for an investment remediation.
This was the first batch based process we were involved with and we took files from the client in a predefined format and then calculated redress based on current investment values compared to BOE and/or APCIMIS (now FTSE).
The project was a multi-phase project as we looked at different calculations based on risk profiles and we also ran some calculations based on the whole book of over 250,000 accounts for provisioning purposes.
Due to initial IT constraints we ran many of the calculations for the client and returned the results and calculation PDF's.
We supported the client and the third party in explaining results to the FSA (now the FCA) due to the reporting requirements of this remediation.