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Best practices in achieving an efficient reconciliation system

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  • Conway, Joseph

Abstract

An efficient reconciliation process can act as a safety net for investment managers' operations areas. Key factors for success include an effective pre-reconciliation data collection and normalisation programme, followed by the adoption and promotion of industry standards to drive down cost and improve timing and frequency of cash, transaction, and position reconciliations. Best practices can set a firm apart from the competition or can satisfy the requirements of an audit or examination. This paper will examine a typical US global asset manager and the related challenges, risks and best practices.

Suggested Citation

  • Conway, Joseph, 2008. "Best practices in achieving an efficient reconciliation system," Journal of Securities Operations & Custody, Henry Stewart Publications, vol. 1(3), pages 263-270, June.
    • Handle: RePEc:aza:jsoc00:y:2008:v:1:i:3:p:263-270
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    More about this item

    Keywords

    reconciliation best practices; straight-through processing (STP); data collection automation; performance measurement; SWIFT; MT535; MT950;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • K22 - Law and Economics - - Regulation and Business Law - - - Business and Securities Law

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