Draft an instruction, authorize it independently, submit it once, confirm settlement and reconcile the cash.
Treasury Preparer records the counterparty, amount, value date and balanced debit and credit accounts, and attaches the trade ticket. The instruction is Draft.
Treasury Approver, independent of the preparer, checks mandate, amount, value date and account scope and approves, returns or rejects the submitted version.
Settlement Analyst submits the authorized instruction once. It is Submitted, then Pending when the provider acknowledges it. An uncertain outcome stays Pending and is not resent.
Settlement Analyst verifies the confirmation or settlement evidence. When it matches the amount and value date exactly, the instruction is Confirmed.
Reconciliation Accountant matches the bank and custodian movements to the instruction and rolls each account's balance forward.
For purchases, Treasury Preparer schedules the security's coupons and maturity, and Treasury Approver approves each one against custodian evidence when it is received.
And how to keep it from happening.
Start free, then use Proto to change fields, steps and approvals before your team goes live.