Increase Control on Your Finances and Accounts

Product Control

Product Controllers need to consistently track the P&L impact of the trades being booked by the front office/sales teams and analyse the P&L figures for risk and market trends as well as product performance.

eClerx provides support across P&L Production and Analysis, Valuation of Open Positions, Accounting and Control, and MIS Reporting to global controllers to track and mitigate financial and operational risk.

Challenges

  • ​Need to reconcile traders' daily estimates, manual computation of P&L prone to errors and allocation of costs by desk
  • Non-standard approach to book trades with accounting clauses and to isolate erroneous values
  • Changing regulatory landscape and changes to accounting policies requiring strict adherence
  • Non-availability of comprehensive MI and Reporting to provide a consolidated view of business to senior management

Solutions

  • P&L Production and Analysis
    • Reconcile daily estimates from traders with other data sources using eClerx engine
    • Custom built calculators to compute day-end and month-end P&L, based on MTM valuations
    • Review/amend risk adjustments and provide regional/cluster cost allocation details
  • Valuation of Open Positions
    • Identify MTM variances of trades and benchmark against industry sources such as BBG®, Markit®, etc.
    • Perform structured trade review of confirms, term sheets, and model validation
    • Standard Template approach to ensure trades are correctly booked with accurate accounting clauses
    • Rule-based, automated spreadsheet controls to isolate erroneous values
  • Accounting and Control
    • Inter-company and book reconciliation for enhanced book maintenance and control using eClerx reconciliation engine
    • Track and implement amendments to accounting policies and ensure adherence to regulatory norms
    • Book hierarchy maintenance and control and support legal entity and regulatory reporting
  • MIS Reporting
    • Monthly accounting and close activities, perform balance sheet reconciliations, and provide MI and reports for the same
    • Business intelligence reports, root cause, insightful metrics for decision making purposes
    • Present metrics and reports through different channels such as real-time web-based dashboards, monthly and quarterly business reviews

Benefits

  • Ensure accurate P&L computation and trader details leveraging in-house eClerx built calculators and reconciliation engine
  • Accurate trade booking facilitated through standardized templates and rule-based automated spreadsheets
  • Consistently track and monitor changes in regulatory norms to implement changes in the accounting policy
  • MIS comprising of insightful metrics, business intelligence, root cause analysis for discrepancies, process health, etc. provided via web based dashboards