Assessing the account manager¡¯s performance

Criteria for evaluating the account manager include efficiency indicators and error frequency indicators;

An efficiency indicator can be seen e.g. in that period of time that passes from the moment the account manager receives an application from a client and its employees to the moment when the corresponding report is issued and handed to the applicant. This efficiency indicator is to be calculated according to the arithmetic means of all applications attended to. Main efficiency indicators include efficiency of establishing a plan, of processing contributions, of information exchange and payment etc.;

An error frequency indicator relates to the proportion of applications processed with deficiencies and errors out of all applications processed during a specific period (generally one month). 

Assessing the custodian¡¯s performance

Indicators for assessing the custodian¡¯s performance include efficiency indicators, error frequency indicators and safety indicators.

Efficiency indicators include whether occupational annuity fund assets are timely distributed to the investment manager according to the orders of the trustee; whether clearing and delivery affairs are timely handled according to orders of the investment manager and fund NAV calculated by the investment manager is timely reviewed. Other criteria are whether custody data are timely checked with the account manager or whether EA fund accounting reports and custody reports are submitted to the trustee and if occupational annuity custody reports are furthermore submitted to the regulatory authorities responsible as provisions regulate.

The error frequency indicator in this sense relates to the proportion of errors and mistakes occurring on the part of the custodian during a certain period (generally one month) in fulfilling its duty of custody according the custody contract.

The safety indicator refers to the concern whether the maintenance of occupational annuity fund assets is safe, whether the account management is independently fulfilled, whether there are confidentiality measures regulating information management or if data maintenance is safe and legal. Safety indicators enclose also if supervision that shall administrated over the investment manager is consistent with agreements in the investment management contract and if risk control mechanisms established are working well.