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  • What is a compliance status/track

What is a compliance status/track

We have split up compliance into two units.

The compliance status

A compliance status is the end result of a compliance track run.

Depending on your business requirements you need to be able to look at a client record and see what status that client has and what his or her compliance is.

Each record in DataView (usually the Client and Bank Account records) can attain one or more Statuses. The Status can contain Documents (evidence) and Risk Points. A Status may contain other statuses.

A status with no parent statuses is called a Root Status

The compliance track

The track is created by a user in the compliance role and can be run by any advisor or client services member.

Once you click run track you will be asked what the desired compliance status is. The system will search according to your record type (client) and its subtype (individual, company, trust) and return what tracks are available for this status.

Once a track is found the system will generate a set of forms for the user to fill out based on the specifications of the compliance track. Upon submission of these forms, all the validation and actions configured within the track will be executed.

Important to note, a track associated with a status might (depending on the data in the form submission) determine that additional tracks must run and in turn generate more forms for the user to fill out.

The form submission then creates an approval (depending on the track) that must be approved by another user or a user in a specific role or can auto-approve itself.

Depending on the review, the status is applied to the client record as either valid or invalid.

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Updated on October 12, 2022
Run a compliance trackImporting a compliance pack (KYC, FICA, etc)

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