Intelligent Automation is Software (Intelligent Automation) enables the end-users to automate the repeatable tasks, some of which the industry has traditionally solved by Shared service support model. The users are able to configure the bots once the process is well understood and change management process is governed. However, we often hear that Intelligent Automation needs to wait till the target state is achieved when the data format is consistent.
It makes sense to wait if it is a matter of weeks or months, however, if it is a multiyear program, especially if we are at the designing or drawing board stage, is still worth waiting?
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This business case is for inventories under Level 1 - where inputs are observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. Reserve calculation scope is limited to the exit price / bid-offer spread.
What is Valuation Control?
While the trading personnel are responsible for marking inventory positions daily. It is CFO team’s responsibility to ensure that the Balance Sheet inventories are correctly marked. On a daily basis, Product control performs P&L review and provides risk-based P&L explanatory. On monthly basis, independent Price Verification team (IPV) or Valuation control team performs and publishes results of price verification process.
This procedure aims at ensuring that the firm's inventory is marked at fair value. For certain positions, for which daily active markets do not exist, price verification may be done on less frequent basis however at least once per quarter.
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