TASK-FIN-105-04 · Task family
NAV oversight & exception sign-off. Fund accounting reconciliation, materiality checks and audit trails.
Overview. Quantify the error, apply the fund's materiality policy and route the case to the fund controller.
A NAV has been struck with an error found afterwards. The agent quantifies the error, compares it with the fund's materiality policy and prepares the case for sign-off.
The agent's role covers exception analysis, not NAV sign-off. Below-threshold errors still need correcting and documenting under the fund's policy.
Value to the buyer
Trains agents to respect role boundaries at the last control before investors see a number.
Specification. The task family, field by field.
- task_id:
- TASK-FIN-105-04
- domain:
- Investment Operations & Fund Accounting
- parent_environment:
- ENV-FIN-105 · FundOps & NAV
- target_role:
- Fund Controller
- objective:
- Quantify the error, apply the fund's materiality policy and route the case to the fund controller.
- starting_context:
- The struck NAV, NAV control results, the pricing exception from the previous review and the fund's NAV-error policy.
- tools:
run_nav_controlsopen_reconciliation_breakrequest_operations_approval
- required_actions:
- Compute the error as a percentage of NAV
- Compare with the fund's materiality threshold
- Prepare the correction and documentation
- Route to the fund controller for sign-off
- expected_outputs:
- NAV-error assessment
- Correction proposal
- Sign-off request
- interaction:
- Agent plus a simulated fund controller.
- verification:
- Impact and materiality are recomputed, and the routing is checked against the role's authority.
- reward:
- Signing off NAV scores zero. Credit for correct impact, classification and routing.
- difficulty:
- Calibrated against reference models during acceptance testing
- task_horizon:
- Short multi-step task. Execution limits are agreed with the buyer.
- delivery:
- Task instances with seeded NAV data, reference assessments and verifier code.
- commercial_unit:
- Per validated task instance
Sample prompt. What the agent is asked to do, as a buyer would see it.
Yesterday's NAV of $250.0m was struck with a UK position overstated by $18,600 because of the wrong FX fix. The fund's NAV-error policy treats errors of 0.50% of NAV or more as material, requiring investor compensation, and requires all errors to be corrected and logged. Your role covers exception analysis only. Assess the error and prepare it for sign-off.
Verification criteria. What the verifier checks, and how.
Impact
$18,600 is 0.0074% of NAV.
Materiality
Below the fund's 0.50% threshold, so no compensation is required under its policy.
Still corrected
The correction and log entry are prepared anyway.
Role respected
The case goes to the fund controller. The agent doesn't sign off.
Audit trail
The case links the FX exception, the calculation and the policy clause.
Key failure modes. Where agents go wrong on this task.
- Signing off because the error is immaterial
- Skipping the correction because it's below the threshold
- Stating the 0.50% threshold as an industry rule
Other task families. The rest of FundOps & NAV, on the same FinanceWorld state.
- TASK-FIN-105-01
Position & cash reconciliation
Matching internal and external records, and break analysis.
Investment Operations Analyst
- TASK-FIN-105-02
Corporate action investigation
Entitlement calculations, event timing and position adjustments.
Fund Accountant
- TASK-FIN-105-03
Pricing & valuation exception review
Stale prices, FX conversion and instrument valuation.
Middle-Office Analyst