1. Select one task that you are currently or were previously responsible for per
ID: 442493 • Letter: 1
Question
1. Select one task that you are currently or were previously responsible for performing. Isolate the type of metric measurement used to evaluate the task process to determine if the process was being followed correctly.
2. Address how frequently the process was evaluated and whether the feedback provided contributed toward or detracts from successful outcome(s) for that process. If no performance measurement is used, identify a set of measurements to evaluate the task and discuss how and why that measurement would ensure successful task completion.
Explanation / Answer
1. I was working in the treasury and accounting back office of a bank. My job was to reconcile the various nostro and vostro accounts on a quarterly basis. These were the accounts held by my branch with the foreign branch and account of the foreign branch held with us.
The metric that was used to evaluate my task was that the balance should be the same accross all branches. For example if my branch was located in New York and the nostro and vostro accounts were of the Tokyo, Hong Kong and London branch, then the balance as per my books after the reconciliation should tally with the balances of the Tokyo, Hong Kong and London branch.
This was my metric measurement.
2. The process was done once in a quarter and hence was evaluated also once in a quarter. In case the accounts were not getting reconciled, coordination was required between the different branches and the feedback in terms of this coordination always helped in tallying the accounts.
This is a sort of accounting and book keeping task where the result is defined i.e the accounts should tally. If there is no peroformance measurement, then the following set of measurements can be used:
(a) correct entry in the books of accounts on a daily basis (b) recording all notional quarterly profits and losses on the books (c) following the accounting principles while making the entries.
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.