Читать книгу Effective Product Control - Nash Peter - Страница 27

The management reporting team, sometimes known as performance reporting, is responsible for providing a bank's management and external stakeholders with insight into the bank's performance.

At its core, this function will:

• Work with the businesses to establish budgets for revenue and expenses.

• Monitor the relative performance of the business against these budgets and obtain commentaries (usually from product control), which explain the performance drivers, on a weekly, monthly, quarterly and annual basis.

This function is heavily reliant on product control providing transparency into the business's performance through commentaries that describe both the outright performance and relative performance to plan (budget/forecast) or prior period (quarter, half or year).

The management reporting team expects that the performance data they are consuming (P&L and balance sheet) is accurate, rendering them completely reliant on product control executing the necessary controls over the business to ensure the data they are consuming is valid.

Where this function delivers added value is by providing senior management (e.g., group CFO) with transparency into the drivers of a business's performance in a clear and succinct manner. Consequently, this team's communication skills, both written and verbal, need to be of a very high quality.