All,

The 5,000 increase in New Counterparties is a combination of new deals booked last week and existing deals (prior to last week) that were mass mapped to the New Counterparty I.D. in RPS by a recent technology development.  The attached report does not include deals that have been booked, but not mapped to new counterparty ("no counterparty").  In credit agg, these deals show up as "new counterparty".  We are making this change to the report effective this week.  If this was in the report originally, you would have seen the 5,000 deals move from "no counterparty" to "new counterparty".  Still, this does not address the issue of mapping to valid, real counterparty i.d.'s.    The following things are in progress by several teams to solve and end the problems:

1)  New process for Mass Market - As Molly has described below, we are very close to booking Mass Market transactions into RPS with GCP i.d.  Several things had to happen to reach this goal, a few of which Molly has noted.  We expect to go live next week, provided RPS is ready.
2)  Above process for remaining deals - Discussions have begun to work GCP set up into the upfront process, the goal to book deals with GCP i.d. where we can.
3)  Complete GCP interface with RGS - In testing.  Expected by end of week (11/16).
4)  Complete GCP interface with RPS - EES IT currently working.  Requirements have been provided by GCP.
5)  Clean up existing transactions - We can not efficiently make a dent into the "backlog" of unmapped customers until we stop the bleeding.  Mapping in RPS is an extremely manual and time-consuming process, coupled by recurring system "downs" and technical issues. Technical developments must assist in this process.  Additional resources does not solve the problem and in itself is limiting.  As soon as 1 above is implemented, the resources can be focused on mapping existing deals (clean up) and staying current on new non-mass market deals (2).  A completion plan will be developed and monitored and add'l resources re-assigned accordingly.
6)  Reporting correct exposure - All of the above does us little good without correct related MTM exposure, which is currently not available.  Risk is working with IT to correct the RPS valuation for Mass Market activity.  This effort is expected to be completed by the middle of December.  When complete, daily counterparty exposure for all Mass Market transactions will be available in credit agg.
Note:  The above points do not address CSC / GCP integrations for billing systems.

In summary, it is taking time to develop technical fixes to process the volume.  In the meantime, we have signed 25,000+ Mass Market contracts, half of which have been done in the last 8 weeks.  We are now receiving 600-1100 Mass Market contracts per day.  In addition, there is approx. 2,500 existing deals that should be booked this week.  You can expect the # to increase significantly again this week.

Please feel free to call Scott, James or me with any questions regarding our plans to get through this.  Additionally, we would like to propose a meeting to address all concerns.  Please reply to me with your interest and I will set up.

Regards,
Shelly

 -----Original Message-----
From: 	Harris, Molly  
Sent:	Tuesday, November 13, 2001 9:54 AM
To:	Bradford, William S.; Vasan, Sue; Slaughter, Chris; Mihalik, Teresa; Holzer, Erich; Power, Keith E.; Furey, Denise; Brackett, Debbie R.
Cc:	Mills, Scott; Beck, Sally; Stubbs, Shelly; Albrecht, Kristin; Scribner, James
Subject:	RE: EES Weekly Status

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 >>