Your asset administration:
Future-ready. With First.

• Administration of a wide range of asset classes
• Investment subledger and general ledger
• Simple digital administration and retrieval of all the information needed for every investment

What First can do
Portfolio administration and investment accounting are at the heart of First. Insurers, professional pension schemes, foundations, Pensionskassen, and other institutional investors can manage their holdings and capture all related transactions. The software supports the valuation, accounting, and representation of all common asset classes. In addition to traditional financial instruments such as equities, bonds, investment fund units, and mortgages, these include structured products, real estate, private equity investments, derivatives, and much more.

Complete transparency across all holdings
First is built on an investment subledger. The individual holding and its related transactions always serve as the foundation. As part of the administration process, they are broken down into individual components and then transferred into a general ledger view based on customer-specific rules. This gives users a clear, traceable view of how values in the system are derived at any time.

Greater efficiency in day-to-day operations
Users can answer questions about the investments they oversee directly and interactively in First – no complex SQL commands, manual database queries, or programming skills required. First makes day-to-day work easier, giving you a simple way to answer all relevant investment-related questions quickly, efficiently, and digitally. First supports multiple tenants and accounting frameworks and is multi-GAAP capable.

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• Complete investment regulatory reporting in one software solution
• Guided, step-by-step process
• Output in the officially required formats

What First can do
The regulatory reporting requirements imposed on institutional investors by national and international supervisory authorities have grown significantly in recent years and continue to evolve. First enables you to prepare and submit required reports on a regular basis through a guided, interactive process. The solution is based on First’s portfolio administration and investment subledger.

Maximum process automation
Investment information stored in First is collected automatically, the required values are calculated, and the results are transferred into the prescribed reporting structures. A guided preparation and approval process minimizes the effort required to create and submit reports to the Bundesbank and BaFin/EIOPA. At the same time, data remains fully traceable down to the individual record, making it quick and easy to respond to questions from authorities at any time.

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• Calculate all risks from the individual record up to the complete portfolio
• Manage Solvency risks with the Solvency Risk Controller
• Flexible configuration of stress tests
• Guided report production process
• Standardized data extraction for Solvency data collectors

What First can do
The introduction of Solvency II fundamentally reformed European insurance supervision. First helps insurance-sector investors meet the resulting core risk management requirements and expanded disclosure obligations on time. Investment risk calculations are based either on First portfolio administration or on holdings data supplied by external sources.

From individual record to overall risk
First calculates the risks associated with the investments in line with the requirements of the standard model. Customer-specific configurations can also include deviations from the standard model. An adapted model can then be calculated in parallel with the standard model. The software starts with individual records when assessing risk and aggregates them step by step up to the overall portfolio.
Users can model all investment risks, run different Solvency scenarios, and adjust risk calculation parameters down to the smallest level if required. A guided process takes care of most of the work.

Run special scenarios quickly
Calculations are output using the templates defined by the European Insurance and Occupational Pensions Authority (EIOPA), known as Quantitative Reporting Templates. If authorities such as BaFin request additional information or further stress tests, First can calculate, analyze, and report them quickly and easily as separate scenarios.
First also provides standardized interfaces for exporting data to commonly used Solvency data collectors. Together, these capabilities take much of the administrative burden out of Solvency II processes.

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• End-to-end management of ESG information for investments
• Guided, step-by-step process from data import and metric calculation through reporting
• Output in all common formats

What First can do
The ESG reporting requirements imposed on institutional investors by regulators and the public have grown significantly in recent years and continue to evolve rapidly. First enables you to prepare and submit required reports on a regular basis through a guided, interactive process. The solution is based on First’s portfolio administration and ESG data from one or more data vendors.

Maximum process automation
ESG information on investments stored in First is collected automatically. Users can access both the raw data and the derived values.
First calculates the required metrics based on the available data and transfers them into the prescribed reports. This includes determining principal adverse impact (PAI) indicators in accordance with the RTS, the Table 1-3 standard reports, and the taxonomy KPIs required for the taxonomy reporting in Annex X reporting form 2 and Annex XII reporting forms 1-5. First determines the attribution factor based on the aggregation methods defined in the PCAF Standard and automatically calculates greenhouse gas emissions according to PCAF rules, depending on the available source data.

Data remains fully traceable down to the individual record, making it quick and easy to respond to questions from auditors, regulators, or the public at any time.

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• Individually configurable scenarios and assumptions
• Combination of controlling and Solvency II
• Integration of liquidity planning

What First can do
With First, you can plan and manage investment risks across short-, medium-, and long-term horizons. Make assumptions about how exchange rates, interest rate structures, share prices, indices, and other market parameters might change – and see what that means for your investments today and in the future.

From micro to macro analysis
Analyze individual investments in detail or create clusters across investments, risk classes, ESG criteria, countries, currencies, and entire portfolios. Move effortlessly from the big picture to the details and back again. Your scenarios – including long-term scenarios – are easy to understand and display transparently.

The software can use assets and data captured in First portfolio administration or receive data from external systems. This helps you identify risks related to concentration, defaults, or market changes. Include limit utilization in your controlling and analyze it with dedicated visualizations.

Plan ahead for the future
You can also include future events that have already been scheduled in your planning – such as inflows from insurance operations, interest, dividends, and redemptions, as well as foreseeable outflows, for example from life insurance policies reaching maturity. This helps lay the foundation for your company’s long-term viability over the years and decades ahead.

Plan targeted investments for the future, or let the system handle this for you based on freely configurable rules. If certain metrics are important to your business, you can optimize automatically for them – for example, by releasing reserves or reducing risk through targeted sales.

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• Capture of all relevant purchase and sale data
• Automated access to up-to-date master and market data
• Guided, fully auditable order process
• Real-time valuation
• Checks for market conformity and limits

What First can do
Handle the entire securities order process with First by capturing and managing orders in the system for traders, brokers, and custodian banks. Track order progress and execution transparently. Executed orders can then be transferred automatically into First portfolio administration and investment accounting.

With First, order information can be defined individually or generated automatically based on order templates. If desired, the system retrieves the required market information – such as prices, spreads, or interest rates – in real time from market data providers or other sources that can be connected to First with ease.

All orders and related authorizations are recorded historically and retained with a complete audit trail. Pre-trade limit checks based on customer-specific limits and their utilization levels are also possible.

Keep every order in view
First brings maximum transparency to the order process: order status and current trading positions are available in the system at any time. The same applies to all other relevant metrics, from the individual security up to the custody account, portfolio, or entire company. Move effortlessly from the details to the big picture and back again. Based on these orders and the resulting changes, First updates your investment holdings in portfolio administration.

Excel support for trading
First users benefit from a dedicated add-in that makes the key information for trading available in Excel. This covers all important aspects of order capture and execution and integrates them seamlessly into the end-to-end asset administration process.

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• Fully digitized process
• Work-from-home enabled for your employees and trustee
• Eliminate manual processes such as faxing with a digital trustee signature
• Direct connection to the custodian bankHigh scalability for offering a wide range of individual funds and processing large transaction volumes

What First can do
It has never been easier to administer and manage the investments of a unit-linked life insurance product. First connects your company’s contract administration with the legally required trustee process and then with the executing custodian bank.

Fully digitized submission to the trustee
First generates purchase or sale proposals based on values already calculated. Alternatively, the software can use target holdings reported to First. In that case, First determines order proposals by comparing target and actual holdings and applying trading rules.
If desired, users can review each order proposal and send it to the trustee through a guided process. First provides an entirely digitized trustee process with an electronic qualified signature via DocuSign®. This completely eliminates the cumbersome, error-prone handling of printouts and fax transmissions.

Automatic forwarding to the custodian bank
After trustee approval, orders are sent automatically to the custodian bank. The bank returns the related confirmations and statements to First fully digitally. The entire journey from the insurer through First and the trustee, as well as the return journey to the insurer, is therefore fully digitized. This significantly reduces costs and process risks, frees resources for other important tasks, and supports growth.

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• Flexible configuration with multiple parallel accounting frameworks
• Investor-specific chart of accounts
• Remeasurement based on First Cloud data or supplied data
• Reporting at the individual-record level or in aggregated form
• Data extraction for digital processing by the investor

What First can do
First supports the key valuation and accounting methods generally recognized in countries across the Western Hemisphere (Generally Accepted Accounting Principles).

Automated remeasurement available
Whether the German Commercial Code (HGB), the UK accounting standard UK GAAP, or another valuation method based on International Financial Reporting Standards (IFRS), First can remeasure subledger data for reporting under the required accounting framework.
This also applies to subledgers maintained in third-party software and supplied to First. This functionality is especially useful for fund management companies that need to prepare financial statements for investors under multiple accounting frameworks but do not want – or are unable due to system restrictions – to implement this in their primary accounting system.

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