About the client

A US-based asset manager wanted reconciliation support across asset classes.

Client challenges

• Spike in transaction volumes led to reconciliation backlog
• High attrition and manual processes slowed exception resolution
• Frequent breaks in tax lots and cost basis data
• Inconsistent issue resolution impacted reporting and fund accuracy
  

Our solution

Crisil team:

• Reconciled internal books with custodian records across asset classes
• Identified and researched open/closed tax lots and cost basis breaks
• Investigated exceptions across positions, holdings, and tax lots
• Co-ordinated with portfolio managers and middle office for issue resolution
• Enabled tax and cost basis alignment for special product reporting
• Facilitated cross-team collaboration across tax, operations, and reporting functions
• Set up daily reconciliation processes, automating workflows to reduce manual dependencies
• Enhanced exception handling with standardized break resolution procedures
  

Impact and results

• ~55%
  Cost savings through offshore team setup and automation
  
  
• 90%+
  Break resolution accuracy across asset classes
  
  
• 50%
  Reduction in reconciliation time
  

About Crisil Integral IQ

Crisil Integral IQ delivers solutions and actionable intelligence to top financial institutions, driving strategic transformation, risk optimization, and operational excellence. Our offerings across research, risk, lending, analytics and operations have empowered clients to navigate complex markets, mitigate risks and unlock new opportunities. Our domain expertise, innovative solutions, future-ready technologies such as AI and data science give clients the confidence to accelerate growth and achieve sustainable competitive advantage. Our globally diverse workforce operates in the Americas, Asia-Pacific, Europe, Australia and the Middle East.

Questions

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