PARIS

The Pension Asset Reconciliation Information System (PARIS) was implemented to support the accounting and reconciliation activities associated with approximately $120 billion of investments for the City’s five major pension systems. (NYCERS, Police, Fire, Department of Education, and Teachers).  This system (Q2 from QED Financial Systems) automates the validation and reporting of all portfolio transactions maintained by the custody bank (Bank of New York/Mellon).  It does comparisons of custody bank information to the transaction information reported by the investment managers.  PARIS also supports the City’s short term trading operations, which invests approximately $5 billion per day.
           
Additionally, PARIS supports the Comptroller’s Investment Accounting Unit, which utilizes PARIS to analyze data and prepare journal entries for the five Pension Systems, and to assist in the preparation of each System’s Comprehensive Annual Financial Report < (CAFR)>.  Another user is the Department of Finance which uses PARIS to track daily investments made by the Comptroller’s short term trading desk.  Other metrics associated with the investment portfolio supported by PARIS include: 600 accounts; five Variable Supplemental Funds; 100 Investment Advisors; 66,000 Holdings; 59,000 transactions per month; and 1,000 corporate actions per month.  

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