Management review of exchange-traded derivatives only works if reconciliations and balance-sheet substantiation stand up across every desk and region.
A financial control team needed a review of its reconciliation framework over exchange-traded derivatives. The aim was to identify improvement opportunities in the management review process and in the balance-sheet substantiation activities that support it — across Equity, Rates, Commodities, FX and Credit, and key trading locations in the Americas, Europe and Asia.
GRT consultants were fielded into the Financial Control team to analyse the framework end to end, surface weaknesses in review and substantiation, and recommend a more consistent control approach across business lines and locations.
The client had a clearer view of where ETD reconciliations and substantiation would hold — and a practical improvement agenda for management review.