Oaktree Successfully Implements Fontis ORM

Oaktree Successfully Implements Fontis ORM

Submitted by Webmaster on Sat, 01/22/2011 - 05:00 in

 

Los Angeles based Oaktree Capital Management, L.P., a premier global alternative and non-traditional investment manager has successfully implemented Fontis International’s Open Retention Manager (ORM) records retention policy authoring and management solution. With over $67 billion in assets under management as of September 30, and offices in 10 countries, the company has taken a substantial step forward with its internal data governance practices. Over the past few months, Oaktree has been participating in the Fontis Open Retention Manager On-demand pre-release beta program to build and distribute their enterprise retention schedule.According to Lee Nemchek, Oaktree Vice President Records Management, “In building a company’s retention schedules, it’s not possible to jump directly to big buckets without first having researched and analyzed all of the legal, operational and historical requirements at the small bucket level. There are very few legitimate shortcuts available if you want your retention program to be comprehensive and defensible. The Fontis ORM application collects, organizes, functionally maps and presents a large collection of legal sources across multiple global jurisdictions. Fontis ORM was invaluable in being able to ultimately reach the big bucket retention rules we felt were appropriate for Oaktree.”As part of the implementation, Oaktree also leveraged a Fontis taxonomy accelerator specific to the investment management industry and an international retention rules library from a Fontis legal partner. Fontis ORM On-demand is delivered as a service, which allowed Oaktree to quickly customize the Fontis taxonomy accelerator to their needs without having to involve involve IT in a lengthy deployment. The international rules library, fed directly into ORM On-demand, was also efficiently matched to Oaktree record types.