How smart is your GL exception management and settlement process?
Traditional exception management and settlement are time- and labor-intensive, error-prone processes. Today, banks need a fully automated solution that is simple but flexible, streamlined but robust, intelligent but easy to use. Smart GL is an innovative business intelligence solution that will help you reduce operational and financial risks and better manage the entire workflow required to identify and resolve GL-related exception transactions.
Smart GL – General ledger reconciliation and compliance solution
Smart GL is the reconciliation and compliance solution designed exclusively for Jack Henry Banking’s SilverLake System®. Smart GL’s base solution integrates two distinct modules. The Significant Account Monitoring module assists banks with identifying, managing, and reporting at-risk GL transactions by allowing them to create and enforce tailored rules. The Fed Account Reconciliation module automates the matching of GL transactions with appropriate offset Fed transactions. Smart GL’s base functionality includes GL settlement features that provide automatic identification, research, and clearing of operational risk exceptions in loan, CD, and DDA transactions and the associated GL entries. This automated solution not only streamlines the review of exception transactions, but also provides a Web-based case management process that greatly reduces the staff hours associated with internal controls, Sarbanes-Oxley, and other regulatory mandates.
Smart GL includes:
- Compliance Risk Monitoring — Manages risks and exception items across applications, business processes and the core system through a Web-based case manager.
- Operational Risk Monitoring — Provides continuous monitoring of operational risks and exceptions by automatically analyzing data from a wide range of business processes supporting the core applications.
- Trend Analysis and Reporting — Provides dashboards, dynamic spreadsheet-style reports and alerts to all levels of management to assist in day-to-day operations and to track and resolve all issues.
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