How to protect your Client’s Money: Automating the reconciliation, classification and control of bank transactions
Date & location: 27th April, Sheraton Grand Hotel & Spa, 1 Festival Square, Edinburgh EH3 9SR
8.15am-9.30am, breakfast provided
Do you find that cash received often gets detached from instructions or cannot be linked to a client? Are amounts received often different to what was expected? Perhaps money automatically arrives as mixed remittances in a collection account and includes commission that belongs to you? These are just some difficulties in managing Client Money.
This briefing will appeal to Finance, Operations, Settlements and Compliance Managers and Directors.
We will demonstrate how AutoRek will:
Match receipts in the bank account to anticipated settlements
Ensure that funds from clients who pay in advance of settlements to the market are protected
Correctly calculate the exact amount of firm money required to protect client money
Correctly categorise settlements made to market ahead of clients funds and send chasers
Identify the sender of cash whether documentation is received or not to protect that cash
Match payer details to internal records to enable automatic chasing for documentation
Match payer details to client files for anti-money laundering compliance
Automate the cash transfers required each day to stay compliant
Keynote speaker: We are pleased to have Jim Muir, Former Data Management Lead Director at KPMG LLP consultancy division. Jim is a qualified Chartered Accountant and experienced Finance Director. Jim has led numerous data management and reconciliation projects including assisting one of the UK’s largest motor finance businesses, a major banking group’s intercompany reconciliations programme, several investment management settlements, custody and client money reconciliations and a variety of rectification and compliance led projects.
