Financial Workflow Maintenance

Introduction

Every corporate defines the business rules for approval of financial transactions as established by the Corporate Board. Workflow rules can be maintained for financial transaction (e.g. transfers, payments) as well as for non-financial transaction. These are two different menu options for the user.

Based on the type of transaction, the corporate can decide the type of authorization to be allocated for it.

The workflow can also be defined for a particular account ID of the corporate.  The corporate can also define the authorization workflow, how the transactions for a particular account has to be authorized.

If the workflow rule is setup for an account, then it will be applicable along with any non-account based workflow rule. If workflow rule is not setup for an account, then the list screen will show NA for the Account ID field.

The authorisation mode precedence is set at the corporate level.  At the corporate level, it can be decided the type of authorisation to be used for a particular transaction.

If the Authorization Mode Precedence is set to user-level, then based on the mode provided at the user ID level will be applicable.

If the  Authorization Mode Precedence is set to corporate-level, then based on the Transaction Type, Currency (transaction currency will be translated into this base currency) and Transaction Amount of the transaction under consideration, the following behaviour will result, depending on the following values of the Authorization mode:

• If no record is found for a particular amount range – The action screen will require the user to specify the next approver (if required by the approval cycle) and user-level authorization mode will be utilised by default for that particular amount range and transaction type combination.

• Single/Multiple Authorization Mode(s) set-up and several amount ranges are applicable – The action screen will require current user to specify each of the authorization mode(s) for the first amount range satisfied (identified by the pre-selected option-button), and then the option-button and input area to specify the authorization mode(s) for the second amount range satisfied, so on and so forth.

• Multiple Authorization Modes set-up but only one amount range is applicable – The action screen will require the user to specify each of the authorization modes, separated by ‘AND’ text.

 During the course of workflow approval, if the current authorization mode precedence invalidates the currently logged on user from being able to approve a particular transaction, then the following behaviour must result:

• The approver must view this transaction under the approval list.

• However once they try to take any kind of workflow action on this transaction, the action screen will be painted in accordance with the applicable authorization mode precedence value. There is no error message needed over here. The impact will be that potentially the current user may not be able to continue with the workflow activity for want of the necessary authorization tools.

Workflow approvals can be of two types:

• For non-hierarchical workflow rules the Corporate User can send the transaction to any user or role in the workflow rule. Also any corporate user or role in non-hierarchical workflow rule will be able to initiate the transaction and send it for approval.

• For hierarchical workflow rules, where the approval process will be as per the set hierarchy.

Functions

The bank administrator can perform the following functions under Workflow rules maintenance for financial transactions:

• Search for financial workflow rules based on the Corporate ID, transaction type (only financial transactions are available in the drop down list), and amount range.

• View the details of a selected record. The rule description is a tabular display of role type, hierarchy and number of users for a given role type as required to approve a transaction for the amount range. The administrator can modify the number of approvers for all the role types.

• Delete a corporate rule.

• Copy an existing rule for other transaction types. The administrator must tick the other transaction to which the same should be applied and confirm.

• Add a new rule for a corporate and transaction type and an amount range. On clicking add rule, the Roles defined for the corporate is displayed, whereas the administrator specifies the number of approvers.

To view important notes, click here.

Navigation

The following is the navigation for this option:

• Click Financial Workflow Maintenance under the Approval Policy Setup option.

• The Financial Workflow Maintenance  screen is displayed.

What you can do

The table below provides a brief description of the data that is displayed on the screen and the functions you can perform:

Field

Description

Bank Id

The ID of the bank with whom the corporate holds an account.

Corporate Id

The ID of the corporate which administrator wants to retrieve workflow limit approval records. Click Lookup to retrieve the list of corporate ID’s.

Transaction Type

From the drop-down list, select the transaction type for which you want to retrieve workflow limit approval records.

Default Rule

Specify all rules to be retrieved, or only the default rules or other than the default rules.

Account ID

The specified account ID for which the workflow approval is defined. Click on the Lookup button to get the list of accounts, if rules assigned to a particular account are to be retrieved.

Currency

Select the specific currency whose rules are to be retrieved or all for all rules.

From Amount

To Amount

The amount range for which you want to retrieve workflow limit approval records.