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‘Check yourself before you rec. yourself’: Eight things to consider when embarking on a reconciliation project

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  • Chapman, Andrew

Abstract

Reconciliations are arguably a firm’s most vital function. Not only is it the last line of defence to guard against error, but it ensures the safeguarding of the firm’s assets and is the ultimate evidence of fiduciary responsibility. How can a firm looking to overhaul its reconciliation operations avoid certain pitfalls and ensure a more seamless integration? This article details eight key areas firms should explore before or during their next reconciliation project. Understanding the intersection of people, process, technology and data will greatly increase the chances of successful implementation and business adoption. While the author concentrates much of the article on consideration for reconciliations initiatives, many of these ideas are easily transferable to any project.

Suggested Citation

  • Chapman, Andrew, 2016. "‘Check yourself before you rec. yourself’: Eight things to consider when embarking on a reconciliation project," Journal of Securities Operations & Custody, Henry Stewart Publications, vol. 8(2), pages 119-125, March.
    • Handle: RePEc:aza:jsoc00:y:2016:v:8:i:2:p:119-125
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    More about this item

    Keywords

    reconciliations; lessons learned; project best practices; change management;
    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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