Reconciliations at ICAP : DUCO Video Series Part 1


This is the first part of a video series looking at how data in the OTC market needs reconciliation to achieve high quality for internal and regulatory purposes. This video features Julie Carruthers who is Head of Operations for the ICAP global broking division, talking about how the role of IT is changing and why Excel is no longer suitable for carrying out reconciliations. She describes how her team have become 'agile' at implementing new reconciliations using Duco Cube.

The video is in segments, you can dip into the individual pieces by using this index:

  1. [00:46] Who is Julie Carruthers?
  2. [00:55] What data is your team reconciling?
  3. [01:15] What effect has Dodd Frank and EMIR had on reconciliations?
  4. [01:34] Why do multiple systems cause challenges for recs?
  5. [02:02] What controls do you have on your data?
  6. [02:26] How do you manage and follow-up on rec breaks?
  7. [02:51] Why not do all your recs in Excel?
  8. [03:35] Does your team understand the data they are reconciling?
  9. [03:50] Have changes been made to internal systems as a result of your findings?
  10. [04:12] Does a new rec need involvement from the IT department?
  11. [04:41] Where does the expertise come from to develop a new rec?
  12. [05:04] Where do you see OTC processing going in future?
  13. [05:26] What advice do you have for firms with similar reconciliation challenges?