The objective of the Review Reports is to catch distributions that are stalled. By reviewing different scenarios in the distribution task in PC, we can find distributions that are not moving forward either because we are missing information from the participant, or because we have failed to mark items as completed.
Scenario 1 - Admin Review
Everyday a report is uploaded to the following folder: "R:\CAPITALOperations\Distributions\ReviewReports\Transactions-Internal-ReviewforAdminRequirements_051921090022.xls"
This report is looking at all distributions that currently have :
1. A review start date
2. DL and Notary received
3. Admin review incomplete
Our job here is to look at these transactions in PC and determine why the admin review is incomplete - is it because we have failed to check the correct boxes, or because we are truly missing information from the participant?
Scenario 2 - Security Review
Everyday a report is uploaded to the following folder: "R:\CAPITALOperations\Distributions\ReviewReports\Transactions-Internal-ReviewSecurityReq_051921092017.xls"
This report is looking at all distributions that currently have:
1. A review start date
2. Admin review complete
3. No DL or Notary, or neither
Our job is to review those distributions that are over a month old from request date, and determine if we really have not received the DL and Notary. If we have not, then the distribution can be cancelled - if the distribution has been approved by the sponsor it needs to be cancelled in Relius Transactions and the Transaction Approval page.
Scenario 3 - Manual Review
In this scenario we are going to be looking at manual filters in the distribution task screen in PC. The filters are the following:
1. Review Start Date = NotIsNull
2. Admin Review Complete = EqualTo (unchecked)
3. Security Req Met Ind = EqualTo (unchecked)
4. Distribution Type = "Type Employment on the blank space" and select DoesNotContain
This review will help us find distributions that are missing both the Admin Review and Security Review to be completed. We should review to ensure that they are in fact missing both pieces of information.
Scenario 4 - Manual Review
In this scenario we are going to be looking at manual filters in the distribution task screen in PC. The filters are the following:
1. Review Start Date = NotIsNull
2. Admin Review Complete = NotEqualTo (checked)
3. Security Req Met Ind = EqualTo (unchecked)
4. Picture ID Recd = NotIsNull
5. Notary Sig Recd = NotIsNull
4. Distribution Type = "Type Employment on the blank space" and select DoesNotContain
This review will help us identify distributions that have the admin review complete, but where the security requirement is not. In this case, some of these may just be missing a callout, which is fine, while others may be missing address verification documents. We should review to see whether they can be moved forward or not.
Scenario 5 - Manual Review
This last review is perhaps the most important. This review will find distributions that made it to the ready to trade report, but that were not traded because additional information was missing. When this happens, we are requesting the additional information under the Review Tab and we are changing the submission type to form so that the automatic notifications go out to the participants, without us having to manually follow up with them. When the requested information is received, we are to go to PC and mark the info as received, and change the submission box back to Web Request. If this is not done correctly, then the distribution will stall. This is the reason for our review. The manual review would be the following:
1. Review Start Date = NotIsNull
2. Admin Review Complete = EqualTo (unchecked)
3. Security Req Met Ind = NotEqualTo (checked)
4. Approval Date = NotIsNull
This review will help us find out whether we have received the required info, and if we have, if the box wasn't checked correctly, preventing things to move forward to the ready to trade file.