They buy a certain number of things at a price, and at the end of the month we compare the records to the holdings (they should match).
Let's call it a "Cost and Unit Reconcilliation."
We do this monthly. The mutual fund trades all through the month, and at the end of the month we reconcile the books. End of the month. That means, this month, 11-30-2006.
It is usually easy. Except for the nightmare fund, because they can't even reconcile their own books. Also the contact for that fund is a jackass. And stupid.
This is the email we got today at 11 am:
Gents,
In an effort ensure prompt month end closing I am requesting a cost and unit reconciliation as of 11/28. Attached are the units and cost figures the fund has as of 11/28/06. Please fill in the columns for your records and report any differences. Please return this by the end of today. Thank you in advance for your help.
Kindest regards,
Stupid client
WTF.
This is the guy my lazy manager almost threw a punch at during the client meeting last month.
-He's asking us for month end reporting two days prior to month end. Who even cares if we do reconcile to the 28th? There are still two more days of trading!
-He's asking for it by the end of the day. Which is ridiculous. Because he sent it at 11 AM. Even at month end it takes me three or four days to figure this out - that's why the monthly reporting never gets done promptly.
-Who the hell says "Gents"?
I hate this client. And their fund. And this job.
-t
2 comments:
I hope he was wearing a monocle when he wrote that.
What a jackass.
Gents is pretty bad. Every so often I get emails sent to me from potential job candidates who address their cover letter "Dear Sirs". What about my name denotes that I may be male, or actually MANY males? (I should add that in the job ads to which they are responding it says "forward resume to (Insert My Full Name)" so either they are dumb, or too lazy to modify their cover letter, either way Not Cool)
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