A second check on lender and finance reporting
A specialty finance company with a credit line and monthly reporting to its lender.
The problem
The monthly borrowing-base certificate came from one spreadsheet with no independent check. After a system conversion, fee revenue by collection channel no longer matched the ledger. Nobody checked the ledger against the servicing system on a schedule.
What we built
- Loaded every monthly certificate workbook and rebuilt each line from pool data and the credit agreement's rules.
- Found a rule in the servicing data that reproduces accounting's in-house, agency and attorney split.
- Set up a monthly reconciliation between the general ledger and the servicing system, with a tolerance and an alert for each check.
- Added checks that fail when a number drifts out of tolerance.
Results
- Every tested certificate line matched, across the tested dates and two credit-line structures.
- The attorney channel matched the ledger within 1% in every month tested.
- Finance gets a flag each month when the ledger and servicing data stop agreeing.
Start with a free consultation
On a free call we look at your system and data and give you an honest view of your options. After the call, we send you an estimate.
- The first call and consultation are free.
- We price hourly, per project, or on a monthly retainer.
- You know the price before any work starts.