The Situation
The client acquired several banks and managed the processing of Automated Clearinghouse (ACH) transactions through correspondent bank accounts with the Federal Reserve Bank (FRB). The FRB provided settlement through these accounts along with returned-items processing.
In March 1999, The client initiated an effort to consolidate the settlement of ACH transactions through one FRB account and common DDA settlement accounts-an effort that produced a significant number of outstanding entries requiring clearing and reconcilement. The client recognized the risk of unreconciled entries and the need to resolve all open issues as rapidly as possible.

Our Approach
The reconcilement of general ledger entries requires access to daily work folders along with uninterrupted analysis. ISI segregated the backlogged entries an assigned them to a dedicated task force not involved with current processing, eliminating any interference with day-to-day item processing. We provided the project team lead and experienced staffing. Working closely with the client, we identified and set priorities necessary to reduce risk and exposure. We determined milestones that were reviewed continually with client management throughout the life of the project. And then got busy. Together, we reconciled each day's entries, found and resolved offsets, and immediately addressed all accounts with potential customer impact.


The Results
Intuitive Solutions reduced outstanding balances and reconciled each of the settlement accounts down to a manageable level within the contractually specified 90-day time period. Procedures, process guides and database changes allowed the Client to continue managing the daily workload efficiently while preparing for future conversions. At the project's conclusion, ISI ensured the existence of documentation to trace the resolution of all cleared items.