CaPRI T0 and T1 WorkFlow

ALaS Control and P&L Reconciliation Infrastructure

ALaS CaPRI^TM has a defined, industry best practice, workflow that ensures integrity of management reporting. We have spoken to all of our clients to devise a product control strategy that CaPRI fits into, and ultimately leads to better controls.

T0 (zero) (Trade Date)

1. T0 flash is sent from risk systems to ALaS CaPRI
2. Product Control Reviews T0 flash for significant variances
3. Adjustments are made to T0 if needed
4. Front Office Traders sign off and locks down the flash estimate in ALaS CaPRI.
5. Product Controllers/Middle Office P&L sign off on flash
6. Final front office P&L (actual) is fed into ALaS CaPRI

T1 (Post Trade Date) 

1. Overnight processing has prepared all position and P&L reconciliation
2. Product Controllers Sign into ALaS CaPRI and review the FOFO (Front Office T0 estimate to Final Actual). Breaks are usually related to late or cancelled trades. Research any discrepancies for root cause.
3. Review FOBO (Front Office Actual to Back Office) for any position or P&L breaks. Make adjustments where necessary. All adjustments are stored and cannot be deleted. They are available immediately for review by line managers and senior management
4. Review the Back Office to General Ledger Reconciliation for both income  statement and balance sheet. Drill down to cusip level detail for break investigation
5. Make final adjustment based on review of the general ledger if necessary
6. Run P&L reports and notify front office for review
7. Front Office and product controllers lock down and sign off P&L. No further adjustments are possible
8. Release adjustments for posting to the ledger