Back-office operations in commercial and investment banks are among those critical functions that are underappreciated until they stop working well. This includes transaction reconciliations and the related exceptions management. Reconciliations are necessary to achieve a reasonable assurance of complete and accurate record of trading activity. The process is especially challenging now, partly because of today’s high and growing volumes in the wide range of asset classes in which all larger financial institutions trade. Reconciliation is a necessary accounting function that has to be completed before external financial statements can be published.
Topics: GRC, Office of Finance, Operational Performance Management (OPM), Financial Governance, Reconciliation, Sungard, Analytics, Business Analytics, Business Intelligence, Business Performance Management (BPM), CFO, Financial Performance Management (FPM), Information Management (IM), Corporate Governance, Governance Risk and Compliance