Bill

This problem is stemming from the volume in Mass Market as you know.  As a result, significantly more new transactions are being booked to "New Counterpart"  than can be cleaned up from historical deals.  As Credit has been emphasizing for some months now, this is not acceptable for this business, is not maintainable (proof in the attached report) and IT resources are required to automate current manual processes.

Global Counterparty is testing their new process to automate the set up of new counterparts in GCP such that the GCP ID may also be returned to EES in conjunction with our credit response prior to booking (expected delivery next Monday0.   However, the risk system batch process specifically for RPS must be enhanced to automatically create the counterpart and accept the GCP ID.  Efforts are finally underway to this end and are expected to be tested within the week.  Then, downstream processing through to billing may benefit.

Many lack the clear understanding that it has taken not only GCP to set up the counterpart in Global Counterpart but also Deal Capture to establish and map the counterpart in RPS and RGS (both have been manual procesess, the latter severly under resourced).  

Once this is implemented, EES has over 20,000 Mass Market transactions executed now, so efforts need to continue to clean up this backlog.  More importantly, three companies have already filed bankruptcy.  We must complete these efforts to manage the portfolio and respond to these events.

Regards
Molly

 -----Original Message-----
From: 	Bradford, William S.  
Sent:	Monday, November 12, 2001 3:33 PM
To:	Vasan, Sue; Harris, Molly; Slaughter, Chris; Mihalik, Teresa; Holzer, Erich; Power, Keith E.; Furey, Denise; Brackett, Debbie R.
Cc:	Mills, Scott; Beck, Sally; Stubbs, Shelly
Subject:	RE: EES Weekly Status

This is totally unacceptable.  Is there any focus on cleaning this up?

 -----Original Message-----
From: 	Vasan, Sue  
Sent:	Monday, November 12, 2001 3:31 PM
To:	Harris, Molly; Slaughter, Chris; Mihalik, Teresa; Holzer, Erich; Power, Keith E.; Furey, Denise; Brackett, Debbie R.; Bradford, William S.
Subject:	EES Weekly Status

Big jump in the number of New Counterparties.  Up by 5,420 new counterparties.

 << File: EES Cpty Stats.xls >>