Approvals for FMV Profiling
Written by Michelle Henley
Updated at August 1st, 2023
An Approver is a User who is responsible for reviewing the requests that are submitted for their review and then take an action on them. Approvers are in Approver Groups that are defined by your organization during the initial implementation process.
Note: Depending on your organization's specifications during the onboarding process, requests and disclosures may only need to be recorded, or they may require one or more Approvers. The instructions below are meant as a general guideline only.
How to Access Requests Pending Your Approval
From the Gateway landing page, access FMV Profiling by selecting either FMV Profiling from the left navigation pane or the corresponding tile on the right.
From the FMV Profiling screen, the approver can find their pending approvals by clicking on the Approvals tab in the Recent Activity section.
Note: Recent Activity will also include all past approvals, and/or if the Approver is in line to be the next Approver for a request.
To see the detailed request status only, click on the Request Status in the last column.
A pop-up box will appear with details on the Request Status as well as the Approval Flow. From here you can identify who has already approved and which approver has yet to take action. Click HERE for more details on Request Statuses
As an Approver there are several places to find information within a request. Click below to expand further information about navigating the request screen as an Approver.
Navigating an FMV Profiling Request as an Approver
Once a request is submitted for approval there are several places within the system and the request where the Submitter, Approver, or an Admin can find additional information about the request.
Note: Depending on your organization's specifications during the onboarding process, the tabs shown within the request and the exact wording of the tabs may vary. In this example, the tabs are named Request and Tasks.
Request Tab
1 |
Request Details Box | Displays the Request ID, Created Date, History Icon, Status, and Approver Flow information. |
2 |
Request History | Clicking on the Clock Icon within the Request Details box will display the entire history of the request. Click Here for detailed information on Request History. |
3 |
Request Status & Approver Flow | Details of the Approver Flow can be viewed by clicking on the Status Icon in the Request Details box. Click Here for detailed information on Status Types and the Approver Flow. |
4 |
Print Button | Print button. Click here for more information on print functionality within the system. |
Tasks Tab
1 |
Request Details Box | Displays the Request ID, Created Date, History Icon, Status, and Approver Flow information. |
2 |
Create New Tasks | Create a new task button. |
3 |
Print Button | Print task list button. Click here for more information on print functionality within the system. |
4 |
Assigned Tasks | Assigned tasks associated with the specific request. Click here for more information on Creating New Tasks and Assigned Tasks. |
Tasks
Tasks
Tasks Users within the system can assign tasks to others or themselves. Tasks can
Admin Information for Tasks
Task Privileges
Users must have the correct privilege (s) assigned to view and/or create tasks within the system.
The following privileges are related to tasks. To add, remove, or modify privileges please contact the User Admin for your organization.
| Privilege Name | Description |
|---|---|
| Create Tasks | Gives user ability to see the Tasks link in the left navigation bar on the main Gateway landing page. Also, gives user ability to see the Tasks tab in the Action Items table. Gives user capability to create tasks in the system. |
| Edit All Tasks | Gives user ability to see the Tasks link in the left navigation bar on the main Gateway landing page. Also, gives user ability to see the Tasks tab in the Action Items table. Gives user capability to update, cancel, or reopen any tasks that are in Draft, In Progress, Completed, or Canceled status. |
| Preview Party Tasks | Gives user capability to see the tasks table from the profile page for a Third Party. The user will be able to open task details for any task where this user is a task creator or task assignee. |
| Preview Request Tasks | Gives user capability to preview all tasks in the Task table (created by other users) but not open details. |
| View All Request Tasks | Gives user capability to see and open the details for any task created in a request and assigned to any user. |
| View All System Tasks | Gives user ability to see the Tasks link in the left navigation bar on the main Gateway landing page. Also, gives user ability to see the Tasks tab in the Action Items table. Gives user capability to see ALL tasks in the system. |
| View My Request Tasks | Gives user capability to see and take action on any task assigned to you to see the details. |
| View Tasks Page | Gives user ability to see the Tasks link in the left navigation bar on the main Gateway landing page. Also, gives user ability to see the Tasks tab in the Action Items table. |
Creating and Assigning Tasks
With or Without a Request ID
Creating and Assigning Tasks
How to Create & Assign a New Task (without a Request ID)
First, click on Tasks from the left navigation menu.
Note: Users must have the View Tasks Page privilege to see the task link in the left navigation menu. To add, remove, or modify privileges please contact the User Admin for your organization.
Next, click Create Task.
The Create Task modal will open.
If the Task Assigner and Assignee are the same person, the details field will change to an Assignee Response field. However, if the Task Assigner differs from the Assignee, the details field will be called Details.
Related Party is optional, but to select a party, begin typing in the Related Party field and choose from the drop-down list.
Note: The Individuals and Organizations drop-down list is populated from master data.
When creating a task, a user can add attachments by clicking the Add File(s) button.
Uploaded files can be deleted before and after task submission by clicking on the Trash Can Icon next to the file you want to delete and then confirming your action by clicking Yes.
Note: Multiple files can be uploaded for a single task, however, executable files or files larger than 50 megabytes cannot be submitted.
Both the assignor and assignee have the option to add Tags in the freeform text field. Tags will be saved in the drop-down menu for future use.
If the user is assigning the task to themselves, there is the option to Cancel, Save as Draft, Assign Task, or Complete.
However, if the user is assigning the task to someone else, there is the option to Cancel, Save as Draft, or Assign Task.
Once Assign Task is clicked, the system will: a
- Submit the task for review.
- Send an email to the assignee.
- Change the task status to In Progress.
- Redirect the user to the main Tasks page. If the task was assigned to yourself you will see the task in the My Tasks tab. If the task was assigned to another user, the task will be visible in the My Tasks for Others tab.
How to Create & Assign a New Task (with a Request ID)
Note: The following tasks are associated with viewing and/or creating tasks within requests. To add, remove, or modify privileges please contact the User Admin for your organization.
| Privilege Name | Description |
|---|---|
| Create Tasks | Gives user ability to see the Tasks link in the left navigation bar on the main Gateway landing page. Also, gives user ability to see the Tasks tab in the Action Items table. Gives user capability to create tasks in the system. |
| Preview Request Tasks | Gives user capability to preview all tasks in the Task table (created by other users) but not open details. |
| View All Request Tasks | Gives user capability to see and open the details for any task created in a request and assigned to any user. |
| View My Request Tasks | Gives the user the capability to see and take action on any task assigned to the user. |
| View Tasks For Others | Gives the user the capability to view tasks that are assigned to others. |
To create a task associated with a specific request, you must first open the request you wish to link to the task. Then, from the View Request screen, click on the Tasks tab.
In the Tasks tab, click Create Task.
The Create Task modal will open.
If the Task Assigner and Assignee are the same person, the details field will change to an Assignee Response field. However, if the Task Assigner differs from the Assignee, the details field will be called Details.
Related Party is optional, but to select a party, begin typing in the Related Party field and choose from the drop-down list.
Note: The Individuals and Organizations drop-down list is populated from master data.
When creating a task, a user can add attachments by clicking the Add File(s) button.
Uploaded files can be deleted before and after task submission by clicking on the Trash Can Icon next to the file you want to delete and then confirming your action by clicking Yes.
Note: Multiple files can be uploaded for a single task; however, executable files or files larger than 50 megabytes cannot be submitted.
Both the assignor and assignee have the option to add Tags in the freeform text field. Tags will be saved in the drop-down menu for future use.
If the user is assigning the task to themselves, there is the option to Cancel, Save as Draft, Assign Task, or Complete.
However, if the user assigns the task to someone else, there is the option to Cancel, Save it as a Draft, or Assign Task.
Once Assign Task is clicked, the system will:
- Submit the task for review.
- Send an email to the assignee.
- Change the task status to In Progress.
- The task will be displayed along with any previously assigned tasks in the Task tab.
General Task Instructions
Task History & Version Comparison
Task History & Version Comparison
Task History
Open the task and click the History tab at the top.
When a task is created, assigned, updated, reassigned, canceled, or completed, the action is recorded in the history.
Note: Tasks created prior to the release of this feature (March 2023) will not track the first action taken from this point forward. Task history will begin on older tasks with the second action taken from this release going forward. Historical actions prior to the release will not be tracked.
Task Version Comparison
Task Version Comparison allows users to view and compare historical changes within a task.
Note: The task Version Comparison tool is available to the Assignee, Assignor, or Task Admin.
Note: Version comparison is only available on tasks created after this feature was released to production (September 2023).
A checkbox is displayed to the left of each action in the Task History.
To compare versions, the user must select two checkboxes. Then, click Compare.
From there, the Task Revision Comparison page will open in a new tab. Anything highlighted in red was changed or removed, while anything highlighted in green was added.
Searching for a Task
Searching for a Task
Click on Tasks in the left navigation menu to view assigned tasks, whether they are for you or assigned by you to others.
Note: Users must have the View Tasks Page privilege to see the task link in the left navigation menu. To add, remove, or modify privileges please contact the User Admin for your organization.
From the Tasks page, there is a tab for My Tasks, My Tasks for Others, and View All Tasks.
Note: The View All Tasks tab is only displayed if a user has the View All System Tasks and/or Edit System Tasks privilege(s).
Use the search tool to search for a task or pagination to go forward/backward through pages.
Tasks associated with a Request ID can be found within the request details in the Tasks tab.
How to Update or Reopen a Task
How to Update or Reopen a Task
By default, users with the Task Admin role have the privileges to Create Tasks and Edit all Tasks. To add, remove, or modify privileges please contact the User Admin for your organization.
Who can update tasks?
| Status | Assignee | Assignor | Task Admin |
|---|---|---|---|
| In Progress | X | ✔ | ✔ |
| Completed | X | ✔ | ✔ |
| Canceled | X | ✔ | ✔ |
Note: Updating a completed or canceled task reopens the task and moves the status back to In Progress.
To update the task, click the Oval Icon in the top right-hand corner and select Update from the dropdown list.
Once changes are made, click Assign Task.
Once Assign Task is clicked, the system will:
- If the Assignor updates the task, an email will be sent to the Assignee to let them know the task has been updated.
- If a Task Admin updates the task, an email will be sent to both the Assignee and the Assignor to let them know the task has been updated.
How to Cancel a Task
How to Cancel a Task
By default, users with the Task Admin role have the privileges to Create Tasks and Edit all Tasks. To add, remove, or modify privileges please contact the User Admin for your organization.
Who can cancel tasks?
| Status | Assignee | Assignor | Task Admin |
|---|---|---|---|
| In Progress | X | ✔ | ✔ |
Note: To cancel a completed task, an assignor or task admin must first update the task to move it back to In Progress and then cancel it.
Open the task you wish to cancel. In the top right corner of the task, click the Oval Icon with three dots and select Cancel.
A Cancel Task modal will ask the user to confirm they want to cancel the task.
Once Confirm is clicked, the system will:
- If the Assignor cancels the task, an email will be sent to the Assignee to let them know the task has been canceled.
- If a Task Admin cancels the task, an email will be sent to the Assignee and the Assignor to let them know the task has been canceled.
Reassigning a Task
Reassigning a Task
By default, users with the Task Admin role have the privileges to Create Tasks and Edit all Tasks. To add, remove, or modify privileges please contact the User Admin for your organization.
Who can reassign tasks?
| Status | Assignee | Assignor | Task Admin |
|---|---|---|---|
| In Progress | X | ✔ | ✔ |
| Completed | X | ✔ | ✔ |
| Canceled | X | ✔ | ✔ |
To reassign the task, click the Oval Icon in the top right-hand corner and select Update from the dropdown list.
Update the Assignee field and click Assign Task.
Once Assign Task is clicked, the system will:
- Send an email to both the old and new Assignee to inform the user that the task has been reassigned.
Assigning a Task on Behalf of Another User
Assigning a task on behalf of another user
By default, users with the Task Admin role have the privileges to Create Tasks and Edit all Tasks. To add, remove, or modify privileges please contact the User Admin for your organization.
Who can change the Assigned From field on a task?
| Status | Assignee | Assignor | Task Admin |
|---|---|---|---|
| Draft/New | X | X | ✔ |
| In progress | X | X | ✔ |
| Completed | X | X | ✔ |
| Canceled | X | X | ✔ |
While creating new tasks, task admins have the option to choose the Assigned From user from the dropdown list populated from master data and assign the task on behalf of another user.
Or to reassign the Assigned From on an existing task, click the Oval Icon in the top right-hand corner and select Update from the dropdown list.
Update the Assigned From field from the dropdown list and click Assign Task.
Once Assign Task is clicked, the system will:
- An email will be sent to both the Assignor and the Assignee that the task has been assigned.
Automated Tasks
Task Automation for Third-Party Renewals
Automated Tasks for Third-Party Renewals
Once configured, when a TPM engagement is Approved or Approved with Conditions, an automated task will be created by the system and will be assigned to the submitter.
Note: A 1-2 minute delay may exist between the time the request is approved and when the task is created.
The automated task will be assigned from System User and an email notification is sent to the submitter to let them know that an automated task has been assigned to them. The email will contain a link to access the task.
Additionally, the automated task is tied to the original Request ID and can be accessed within the request by clicking on the Tasks tab.
The title of the task will be Third-Party Renewal and the Due Date of the task will match the expiration date of the engagement.
Automated tasks are also displayed in the Tasks section of the Gateway under My Tasks.
When an automated task is created, the Task History records the action based on when it was auto-created.
Reminder Emails
Automated tasks are included in reminder emails once they are within 90 days of the task due date.
Updates to Engagements or Tasks
- If the expiration period of an engagement changes after full approval, through an update to the engagement, the existing task is updated with the new expiration period.
The update is also logged in the Task History.
- If an approved engagement is updated and reapproved, but the corresponding automated task is already marked as completed or canceled, the task is restarted and the due date is updated to correspond with the updated engagement.
The update is logged in the Task History by System User.
- If the submitter is reassigned after the approval of an engagement, the corresponding automated task has to be manually reassigned to the new submitter.
Task Admins
-
Users with the Edit All Tasks privilege (Task Admin) can update any field within automated tasks, including the assigned from and due date fields.
- If the task has been updated by the Task Admin and the engagement is updated and reapproved, any changes made by the Task Admin will remain unchanged. Only the due date of the task will update to correspond with the updated engagement.
Mitigation Tasks
Mitigation Tasks
Mitigation Tasks
What is a Mitigation Task?
This feature allows tenants to easily identify any requests/disclosures with an active mitigation task at the time of final approval. This helps to 1. accommodate our tenants’ existing internal processes whereby engagements/disclosures can be approved subject to certain conditions and 2. provide tenants with more visibility into these higher-risk engagements/disclosures.
When approving a request or disclosure, an approver may feel that certain steps must be taken to mitigate the risk presented to the organization. To ensure that any concerns are addressed, approvers can assign a mitigation task before approving the request.
How to Create a Mitigation Task
Who can create mitigation tasks?
Approvers can create mitigation tasks for any assigned request if they have the Create Tasks privilege. Admins can also create mitigation tasks if they have the View All Requests and Create Tasks privileges. Note: To add, remove, or modify privileges please contact the User Admin for your organization.
To create a Mitigation Task, choose Mitigation from the dropdown list in the Category field.
When a mitigation task is added to a disclosure or request, the following rules apply:
If the mitigation task is added to a request or disclosure that is still In Progress
| The mitigation task is added to a request → | then the request is Cleared or Approved → | then the request status will be Cleared with Conditions or Approved with Conditions |
| The mitigation task is canceled before → | the request is Cleared or Approved then → | the request status will be Cleared or Approved |
If the mitigation task is added to a request or disclosure that is already Fully Approved:
| The request is Cleared or Approved → | then the mitigation task is added to a request → | the request status will automatically change from Cleared or Approved to Cleared with Conditions or Approved with Conditions |
| The request is Cleared or Approved → | then the mitigation task is added to a request and then is canceled → | the request Status will remain as Cleared with Conditions or Approved with Conditions |
If the mitigation task was added to the request while the request or disclosure is still In Progress, but then the request is Cleared with Conditions or Approved with Conditions:
| The mitigation task was added to the request, and then the request was Approved with Conditions or Cleared with Conditions → | then the task is canceled → | the request Status will remain as Cleared with Conditions or Approved with Conditions |
If the mitigation task is added to a request or disclosure after it was already fully Approved and the request is Resubmitted:
| The request is Cleared with Conditions or Approved with Conditions and → | the mitigation task is canceled → | then when the request is reapproved, the status will be Cleared or Approved |
Click here for more information on Cleared with Conditions and Approved with Condition status types.
Once the Approver is viewing the request awaiting approval, the following Approver actions are possible:
Approve Request
Note: Depending on your organization’s specifications during the onboarding process, you may by the only Approver, or there may be multiple Approvers within the Approval flow.
After reviewing the request details in the Request tab, click on Approve Request to approve the request.
An Approve Request pop-up window will open. An Approver can provide comments and can then click Confirm to approve the request.
By clicking Confirm in the Approvals screen, the system will:
- FMV Rate, Specialty, and Tier will be saved to Master Data.
- Send an email to the Submitter notifying them that the request has been approved.
- The request status will be moved to Approved.
Reject Request
To reject an engagement click on the Gray Icon containing three dots next to the Approve Request button and then select Reject Request from the dropdown list.
A Reject Request pop-up window will open. The Approver is required to provide comments before they can the click the Confirm button to Reject the Request.
By clicking Confirm in the Reject Request screen, the system will:
- Send an email to the Submitter notifying them that the request as been rejected.
- The request status will be moved to Rejected.
Note: By rejecting the request the FMV data will not be saved in Master Data.
Request an Update on the Request
To request and update from the submitter, click on the Gray Icon containing three dots next to the Approve Request button and then select Request Update from the dropdown list.
A Request Update pop-up window will open. The Approver is required to provide comments before they can the click the Confirm button to request the update.
By clicking Confirm in the Request Update screen, the system will:
- Send an email to the submitter notifying them to update the request.