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

Andrew Chapman

Journal of Securities Operations & Custody, 2016, vol. 8, issue 2, 119-125

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.

Keywords: reconciliations; lessons learned; project best practices; change management (search for similar items in EconPapers)
JEL-codes: E5 G2 K22 (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:aza:jsoc00:y:2016:v:8:i:2:p:119-125

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