Major Nelson Parking©: Excellence in Reconciliation and Exception Management

17 May 2012

Excellence in Reconciliation and Exception Management

The folks over over at Investance have published a new Point of View written in partnership with Fiserv that they have titled "Achieving Excellence in Reconciliation and Exception Management".

Working from the premise of a environment of increasing transaction volumes and regulatory pressure, processing transactions continues to represent a major operational and technical challenge for Financial Organizations it is making it increasingly important for business and technology partners to embrace an end-to-end vision of the reconciliation process. They are offer their new Point of View identifing key issues and examining the range of possible solutions to address these challenges.

As they explain it, Financial institutions are now focused on implementing new capabilities and services to ensure better internal controls of transactions through improved reconciliation and exception management processes. "Business and technology leaders play an equally crucial role in delivering the changes required. They will have work together to make the right investment and implementation decisions to address this new set of challenges relating to data quality, end-to-end execution and total cost of ownership.

So, today and in the next 5 years, what will Internal Controls and Reconciliation challenges look like?

How should organizations respond to new Reconciliation and Financial Control regulatory constraints and manage the practical implications? How can Technology prepare and be positioned to offer a robust architecture framework and what key components are needed to support the challenge of an end-to-end reconciliation process?"

Their point of view identifies as what they see as the key issues and sets out the range of possibilities that can be better exploited to address these challenges.

More importantly, it invites the financial industry to recognize the importance of having an end-to-end vision of the controls, reconciliations and exception management processes needed in their organizations - a future where there are efficient and effective methods, processes and technical solutions in place for all classes of assets and transaction types.

Investance is offering a download of the thought piece at their website:
Research & Publications | Investance

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Why Major Nelson Parking?

No. This is not a blog about driving or parking, although I might occasionally take note of automobiles. Most often the topic is about Marketing; business, marketing psychology, finance, Social Media technology. Occasionally I'll indulge writing about popular culture the arts. The title is a reference from pop culture."Major Nelson Parking" is my way of explaining the optimal situation. It refers to the practice of a 1960s sitcom character who went to work each morning at NASA. Although his military rank was only that of a Major, he was somehow allowed to park his car at the busy front steps of NASA headquarters. As he would jump out of his car and dash, everyone else, including Generals and other higher ranking persons, were apparently walking in from that big parking lot somewhere off-camera.
What he had was a kind of parking nirvana that broke all the rules but seemed to be totally cool with everyone else... even the fire department.
So "Major Nelson Parking", in terms of a blog, is the breaking all marketing rules that would dictate doing a "niche audience" blog. Instead the blog will veer off to any place that looks of interest and park some thoughts on it... (but without blocking fire access). It's akin to a 20th century general interest magazine...the kind of publication that thrived when Major Nelson was traveling to that unlikely parking spot.