The Portfolio Compliance Audit workflow is a four task process that is resolved once it is confirmed the portfolios are compliant and all four tasks have been tagged as completed.
Team Roles required in Workflow: Advisor
First task is created, called "Run Monthly Client Investment Activity Report", and it is assigned to the Team Role: Advisor. It is expected the Advisor runs and reviews a monthly report that shows the investment activities for all portfolios.
- Task one is due one day after the Portfolio Compliance Audit request is created.
Second task is created, called "Review Non-compliant Portfolios", and is assigned to the Team Role: Advisor. Based on the request, the Advisor is expected to review the portfolios that are consider non-compliant and determine the needs to update the portfolios.
- Task two is due three days after the "Review Non-compliant Portfolios" task is created.
Third task is created, called "Take Corrective Actions", and it is assigned to the Team Role: Advisor. Based on the previous task's review, this task is designed to track the actions of the updates needed to make the portfolio compliant.
- Task three is due four days after the "Take Corrective Actions" task is created.
Fourth task is created, called "Confirm Portfolios are now Compliant", and it is assigned to the Team Role: Advisor. This task reminds the Advisor to confirm the portfolios have been updated so that they are now compliant. Once confirmed that all four tasks are completed, the Request status will update to Complete.
- Task four is due seven days after the "Submit to Custodian" task is created.
Here is a list of the default fields that are included in the Request, as well as they type of information that is needed in each field. It is possible, as a System Administrator, to customize these fields within all Requests, including updating the existing names, removing fields, or adding different fields.