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How Do You Automate Reconciliation Processes?

Securities Operations Forum

Marilyn Hignett Stern, Principal

Runtime: 7:32

Key Takeaways:

  1. Business Case Drivers: Compliance support, cost reduction and business enablement.
  2. Project Timeline: Small buy-side firms can automate reconciliations in 6-12 months. For larger sell-side firms, it’s a multi-year project.
  3. Common Automation Mistakes: a) Not taking a holistic approach that considers the entire family of reconciliations that needs to be automated b) Not making a distinction between reconciliations for business purposes versus reconciliations due to infrastructure issues.
  4. Technology: Vendor offerings are maturing. A robust rules-based engine is the key technology requirement. System ability to manage new regulatory requirements should be considered.
  5. Best Practice: Develop reconciliation governance model before automating the reconciliation process.

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