by a separate quant team, possibly front office, but maintained by Product Control. Credit Risk monitors the bank's debt-clients on an ongoing basis, as described below; it is additionally responsible for tracking the risk capital and risk adjusted returns on these clients, and reporting re concentration risk and risk appetite. These areas, together with the various dedicated “Risk Groups”, allow "Finance" to advise Senior Management re the firm's global risk exposure and the profitability and structure of the firm's various businesses; see . A comptroller (or financial controller) is a senior position, responsible for these analyses and internal control more generally, usually reporting to the bank's chief financial officer, as well as copying the chief risk officer. Corporate and other Financial Analysts within corporates provide inputs into all elements of the firm's financial management. The short term focus is on working capital management, and includes tasks such as profitability analysis, cost analysis, variance analysis, and cash flow forecasting (often overlapping treasury management). Medium term elements are budgeting and planning; their models here form the basis for financial forecasting, scenario analysis (sometimes re corporate strategy), and balance sheet optimization . The latter, extends to involvement with dividend policy, and capital structure; relatedly, forecasts here also feed into group ALM. Analysts are also involved with long term "capital budgeting", i.e. decisions relating to "project" selection and valuation and related funding decisions; these forecasts feed through to the Debt Capital Markets team, "DCM", responsible for securing and managing long-term funding. Risk analytics will span all perspectives. Management of these deliverables sits with the financial manager (FM); while budget analyst, cost analyst, treasury analyst / manager, and risk analyst / manager are often specialized roles. The area overall is sometimes referred to as "FP&A" (Financial Planning and Analysis). The financial director or chief financial officer (FD, CFO) has primary responsibility for managing the company's finances, including financial planning, management of financial risks, record-keeping, and financial reporting. There are several analyst roles related to credit risk, macro or micro. Ratings analysts (who are often employees of ratings agencies), evaluate the ability of companies or governments that issue bonds to repay their debt. On the basis of their evaluation, a management team assigns a rating to a company's or government's bonds. Financial analysts employed in commercial lending perform balance sheet analysis, examining the borrower's audited financial statements and corollary data in order to similarly assess lending