Reconciliation out of Control (RoC)
Abstract: It was during Project Paradise in the 1970s at First National City Bank (FNCB) of New York (now Citibank) that the term “Reconciliation Out of Control” ( ROC) was coined. Later celebrated in a Harvard Business School case study, the principles learned then are used today by ALaS consultants to manage reconciliation engagements:
• Stabilize the Steady State
• Work the ROC
• Implement Sustainable Fixes
ALaS has helped many firms manage through ROC events involving securities, derivative and loan processing. Depending on the cause and severity of the event, we can offer temporary on-site support to ensure stability as well as analysis of the root cause for long term remediation.