Effective Product Control by Nash Peter

Author:Nash, Peter
Language: eng
Format: epub
ISBN: 9781118939802
Publisher: John Wiley & Sons, Inc.
Published: 2017-09-26T09:18:09+00:00

Trends

Valuable insight can be drawn when data is collated into a time series. A time series enables trends to be identified, which can illuminate unusual events when they occur. When a spike in the number of amendments is identified, it can indicate that something is wrong with either trader behaviour or the performance of the bank's systems.

Each business head and COO will review the trade amendment statistics on a periodic basis to understand and resolve the root causes. The business will focus on those categories which are their biggest cause for concern. This review can occur in a meeting just with product control or in a control forum, where each of the support areas (product control, risk and operations) present their statistics on control weaknesses. For example, in the monthly meeting for April, the following amendment data in Table 9.17 and Figure 9.20 was presented to the business.

Table 9.17 Trade amendments update

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