Validate trade bookings to ensure financial market products are recorded in accordance with calculation and accounting policies

Calculate profit and loss positions of product portfolios

Perform mark-to-market profit analysis of product portfolios to realise extent of profit or loss over the statement period

Monitor trade bookings for large and unusual transactions

Perform independent price verification by using mark-to-market methodology to verify front office positions

Review trading activities and variance analysis of performance against business unit strategies and plans

Verify the reasonability of rates used for trade booking and reporting

Review identified unusual transactions and escalate for further investigation

Adjust profit and loss reports to reserve for value adjustments

Resolve discrepancies in front office positions and profit and loss reports

Validate the quality of data used for price testing in trade completion processes

Establish a priority list of preferred sources of data and assumptions for price verification and profit analysis processes

Establish procedures for unusual transactions to ensure timely resolution and/or escalation to mitigate operational and reputational risk

Establish procedures and guidelines for conducting price verification and profit analysis

Define profit and loss analysis frameworks appropriate for the organisation’s valuation and reporting needs