P&L Attribution & Explain Agent
Attributes the daily P&L move and writes the explain for the desks.
Decomposes the day's P&L into its drivers (market moves, new trades, carry, fees, unexplained residual) and writes the desk-level explain. Holds the residual within a tolerance band or escalates, and posts the explain to the desk-head agent's feed alongside the flash.
Authority
Act within policy
Team role
Provides specialist analysis
Handoffs
Named collaborators
The role
What it owns and where its authority ends
Desk
Product Control & Daily P&L
Desk workflow
Overnight position and market-data load, then daily P&L production, then P&L attribution and explain, then reconciliation to risk and the GL, then desk sign-off and the management flash.
Collaboration
Moves work through defined stages
Decision boundary
Acts only within an explicit policy, permission and escalation boundary.
Systems and capabilities involved
P&L + position deltas
from the production agent
Market-data + risk sensitivities
Attribution decomposition
Desk-head agent channel
Handoffs
What this role gives and receives
Capabilities offered
The handoffs name the next owner or specialist and the work that moves between them.
Receives from
External handoff
Markets desk-head agents consume the daily explain
Context
What the role needs to do the work
- Current work
- Today's P&L, the position/market deltas and the attribution build.
- Prior interactions
- Prior days' attributions and what drove recent moves.
- Policies and reference
- Attribution methodology, Greeks/sensitivities, product risk factors.
- Working method
- Explain templates per desk refined from desk-head-agent feedback.
Illustrative workflow
How the work moves
Starting point
Daily P&L signed off by the production agent; attribution requested.
- 01
Decompose the P&L move into market, new-trade, carry and fee components.
- 02
Quantify the residual unexplained P&L; check it's within tolerance.
- 03
Draft the desk-level explain commentary.
Result
An explain showing +$3.2m driven by a rates rally and curve steepening, $80k residual within tolerance, on the desk-head agent's feed alongside the flash.
Checks and boundaries
What must be tested or reviewed
- 01Unexplained residual must fall below a tolerance band or the attribution escalates.
- 02Agent-as-judge review of explain quality vs. the actual drivers.
- 03Attribution ties back to the signed daily P&L; any mismatch is a control flag.
Human authority
Acts only within an explicit policy, permission and escalation boundary.
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