Reconciliation and break management
Cover cash, securities, trades, derivative notionals and margin, receivables, corporate actions, units/shareholder register and capital accounts. Two reports from the same system are not independent sources.
The lifecycle is detect → classify → assign → assess impact → correct or prove timing → review → close → trend.
Record fund, account, asset, discovery date, amount/quantity, currency, NAV impact, root cause, owner, target date, escalation, evidence and closure approval. Escalation considers NAV percentage, age, recurrence, investor-dealing impact, regulatory reporting and fraud risk—not only absolute value.
“Sent to the counterparty” is not closure. Close only when balances match or timing reverses, evidence is complete, root cause is captured, entries or static data are corrected, and compensation, notification and process impact have been assessed.