Rltp training v1
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The document provides an overview and instructions for Release III of the RLTP training. It describes the new standardized commitments functionality, including the ability to stage commitments, select clauses, preview commitments, and assign deals for DCA approval. It also reviews the deal workflow statuses and tasks, such as completing the initial contact task, application review, and potential additional tasks like AML reviews that can be triggered. Examples are provided of what would happen if a politically exposed person is identified, and exercises walk through various steps like assigning a deal for DCA approval and the DCA approval workflow.
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Rltp training v1
- 1. RLTP Training â Release III
- 3. 3 Release Scope 1. Standardized Commitments 2. Digitized Check Lists ⢠Application Review (Originations), Employment Verification (Underwriting), Final Application Review (Underwriting) 3. Internal Condition Tracking and Application Gating ⢠Quality Control, AML, Compliance, DNU and Watch List Monitoring, CAT 4. Pricing and Limit Approvals ⢠Designated Lending Authority (DLA) & Designated Commitment Authority (DCA) 5. Funding Status Tracking ⢠Funding Tracking Tasks & Solicitor Tracking Tasks 6. Other Items ⢠Filogix US Address Enhancement ⢠PITI High Risk Indicator ⢠Business Partner Watchlist in CAF ⢠Watch List Property ⢠Business Partner Relationship and Mass Upload
- 4. 4 Release Scope Status 10 â˘Filogix US address enhancement Status 20 â˘Standardized Commitments â˘DCA Status 30 Status 40 Status 50 â˘DLA Status 60 Status 70 â˘Funding Status Tracking Digitized checklists & Tracking Items
- 5. Key Benefits 5 DCA & DLA Approvals ď No more signatures on paper; itâs now all in SAM ď All controls are now configured in SAM Standardized Commitments ⢠Enhanced Experience ď Faster and more efficient process to generate Commitments ď Automatic population of conditions traffic lights ď Facilitates enhanced understanding for external partners ⢠Standardized Documentation ď System-driven logic for clause selection ď Ensures completeness and consistency ď Standardized Commitment and Solicitor Instruction Template ⢠Higher Quality ď Improved Data Capture ď Lessens risks associated with frequent free-text clauses ď Clauses are validated by Compliance and Legal
- 7. 7 Whatâs changing at each Status? Status 10 ⢠U.S. addresses are ingested via Filogix ⢠Initial Contact task must be completed ⢠Application Review task to be started Status 20 ⢠Application Review task must be completed ⢠Standardized Commitment must be staged ⢠Request DCA approval ⢠Receive DCA Approval Status 30 ⢠No change
- 9. 9 Some First Impressions 1. Status Indicator 2. Deal Journey Map 3. Overview of all tracking items
- 10. 10 Initial Contact Task Cannot move to Status 20 until Initial Contact task has been completed!
- 11. 11 Initial Contact Best Practices BEFORE THE CALL ď Review deal before a call is made to the broker DURING THE CALL ď Have the Application Review open IMMEDIATELY AFTER THE CALL ď Update Initial Contact tracking item to green ď Put an External Note whether you reached the broker or not
- 14. 14 Exercise ORIG1 1. You are in Status 10 2. Open the Tracking Summary 3. Close the Tracking Summary 4. Go into the Application Review task 5. Open the Notes section 6. Check the dropdown for existing notes 7. Write a General Note 8. Close the Notes section 9. Mark Yes to the question: Is the Client politically exposed person (pep)? 10. Write a short note to the first of the 5Cs questions 11. Click on Save 12. Click on Close 13. Go back into the Application Review task 14. Mark No to the question: Is the Client politically exposed person (pep)? 15. Click on Submit 16. Note that the Application Review traffic light is now green 17. Change the Initial Contact traffic light to green also 18. Move deal to Status 20
- 15. Standardized Commitments 15 ď§ Stage Commitment button ď§ Clause selection wizard ď§ Selected Clauses preview ď§ Preview Commitment ď§ Groupings: External, Internal, Solicitor ď§ Sub-categories within each grouping ď§ Clause wizard sequence is same as commitment preview sequence ď§ Loan data driving 75% of clause insertion logic ď§ Walk-through of document type selection for income clauses, defaulted, mandatory and user- selectable options ď§ Walk-through of free-text functionality; segregated by groupings and sub- categories
- 16. 16 Exercise ORIG2 1. You are in Status 20 2. Open the Stage Commitment 3. Add the Power of Attorney clause, under External: Customer & Consent 4. Note the clause added on the clause preview pane 5. Click on Preview Commitment 6. Look up the Power of Attorney clause 7. Close the Preview Commitment by using âBackâ 8. Unselect the Power of Attorney clause 9. Note the clause removed from the clause preview pane 10.Open the Internal Additional Clause section 11.Complete all the fields and click on Submit Free Text Clause 12. Save changes
- 17. 17 Assigning Deal to DCA Approval Assign by clicking on the button Select approval level and the approver
- 19. 19 Exercise ORIG3 1. You are in Status 20 2. Go to Internal: Approvals 3. Click on the Assignment button 4. Assign the Team (Approval Level) and Approver 5. Click Assign and Start 6. Note the locked pending approval screen
- 20. 20 Example: What happens if Yes to PEP?
- 21. 21 Example: What happens if Yes to PEP?
- 22. 22 Example: What happens if Yes to PEP?
- 23. 23 Task Forms
- 24. 24 Controls that Can Trigger at Status 20 Tasks Closes at Based on Rule AML 50/55 AML (CAMLO) 50/55 AML (Non Resident) 50/55 Based on Questionnaire Complete ALM Form 40/50 Compliance Review 40/50 AML EDD 40/50 Consumer Alert â Review Credit Bureau Complete FCIU Configured External / Commitment Conditions 40/50 Manually Added Compliance Alert â High 40/50 Compliance Alert â Caution 40/50
- 25. 25 Exercise ORIG4 1. You are in Status 20 2. Go into Application Review 3. Say âYesâ to PEP 4. Click Submit 5. Open the AML EDD Task 6. Assign the task to a User 7. Add Another Related Task (Complete FCIU Form) 8. Click on every tab at the top: From Tracking Summary to Loan Documents 9. Write a Comment 10.Click on Pending 11.Refresh the Conditions section on the Loan Details page 12.Note AML EDD as pending
- 26. DCA Contents 26
- 27. 27 Assigning Deal to DCA Approval A deal in Status 20 will have an Approval item under Internal conditions: The Originator assigns it for DCA approval by clicking on the button The Originator selects the approval level and the approver
- 29. 29 DCA Landing Page When you log into SAM, this is the Queue screen you will see:
- 31. 31 Notes
- 34. 34 Exercise DCA1 1. You are in the DCA Application Queue 2. Filter the Queue to see only Status 20 deals 3. Search for loan number 179232 4. Jump between all the headers from Approval Summary to Loan Documents 5. View the deal journey map 6. View the CAF 7. Go into the Application Review task under Internal: Tasks 8. Write a short Pricing Approval note 9. Approve the pricing
Editor's Notes
- RLTP will result in greater controls, improved efficiencies and provide the necessary tools to help you work as effectively as possible
- While this slide outlines the scope of the May 15 release, each training session is tailored to a particular group and focuses on the items that each group requires in the context of their work Elaboration of some items will be communicated via release notes
- [If a slide like this is considered helpful, it needs to be built out more]
- First thing to know regarding Status 10 is that U.S. addresses will now be ingested via Filogix, meaning that U.S. addresses can also be validated in any address field in SAM Two new internal tracking items will also be showing in Status 10: Initial Contact and Application Review Initial Contact needs to be completed at Status 10 and Application Review needs to be completed at Status 20 The Standardized Commitments will also need to be staged at Status 20 Finally, DCA approval needs to be both requested and received at Status 20; the deal cannot be moved to Status 30 without DCA approval There is not change happening at Status 30 for Originators, other than you will continue to see tracking items populated under Internal conditions
- 1 â A timer that shows remaining time of calculations of key ratios 2 â Internal Tasks are populated FOR INFORMATION IF ASKED: We removed the document counts (submitted, in review, approved) that were previously in the conditions section to increase performance. Youâll notice that the tracking items functionality is much more responsive now that we are no longer making the call to HomeVault in order to pull the count. When the icon for each of the categories is clicked, the user is brought to HomeVault with the corresponding category filters set.
- There is a new button on the conditions panel called Tracking Summary By clicking on it you see an overview of the status of all tracking items pertaining to the deal You see the Status of the deal You see a journey map for the deal You see an overview of all tracking items [to be confirmed: can hover over to see time and date stamps]
- When you open the Internal Tasks you will notice that there are two tasks automatically added at Status 10: Application Review and Initial Contact Note that you cannot move the deal to Status 20 until Initial Contact has been completed and changed to green status Letâs review some best practices in relation to First Contact
- Make sure to have reviewed the deal before the Initial contact is made to the broker Have the Application Review panel open when the call takes place and immediately capture relevant items and notes; this is a best practice that feeds directly into the 5Cs Before you wrote notes on a form, but now you use the Application Review; the form does not go away, but it is much shorter, and there is no duplication with the information being sought in the Application Review [get new form from Rob Best] Immediately change the Initial Contact tracking item to green upon the completion of the call; donât delay updating the tracking item long after the call has been made. Whether you reach the broker or not, put a note in External Notes to the effect that initial contact was attempted or made
- The Application Review has six main sections There is key information pertaining to the deal and the client; the information is generated from the application, not the bureau Know Youth Client questionnaire: yes to any of these questions will automatically trigger another task; even if you were to change the answer to No at a later time, the tasks will persist pertaining to High Risk Employment and PEP [confirm with Frank] The five Cs; the question marks will provide hyperlinks to the guidelines in regards to the five Cs. Action buttons: Submit indicates a completed task and will update the traffic lights accordingly; this is an attestation of completion and functions like a signature (and therefore not a need for a paper signature) it is time stamped and tracked Save allows the user to save without submitting yet Close allows the users to close the window without submitting or saving Additional key information pertaining to the deal and client An icon that opens up the Notes section Again, this Application Review page means that you will be using a much shorter Loan Application Work Sheet, and there is no duplicate between the two [Whatâs the answer to the question: why is there still a hard copy; why wouldn't it all be on this Application Review page]
- Existing notes can be reviewed here, and it is defaulted to all notes; can use the dropdown at the top to see specific note categories; can also search for key words in the search field A note can be entered at the bottom, by first using the dropdown to select a note category, and then write the note and click the arrow to submit
- We will now do an exercise related to what we have reviewed so far
- Hereâs a recap of the main points highlighted in the videos
- Letâs do an exercise related to Standardized Commitments
- Internal conditions will have a line for Approvals at Status 20 (if itâs not there try to promote it to Status 30 and it should appear) SAM will tell you what final level of approval you need Click on the man-like icon to get a pop-up that allows you to assign the DCA approval to a specific person You have the ability to assign it to someone at a lower level (your direct manager) to review; they can then reassign it to the higher level that needs to approve the deal
- When a deal is sent to DCA for approval, the deal locks All data is greyed out, but still available for viewing If a condition needs to be added, the DCA approver can reject it and write a corresponding note The Originator will NOT receive a Notification when the DCA approver has approved or rejected the deal; the approver needs to notify the Originator, for instance via email After a DCA approval has been received, move the deal to Status 30 and proceed with issuing the Commitment
- Letâs do an exercise to assign a deal to DCA approval
- Letâs review a bit more what happens if a you say yes to a question on KYC, i.e. PEP
- An Approval has been added, but you do not assign it until youâve completed the associated tasks first [are there controls around that?]
- First complete Task Forms: AML EDD, Complete AML Form, Compliance Review
- Can indicate whether the task is Complete, Pending or Incomplete Tabs to access information on the different components of the deal Shows the Reason Code for the task Shows who is assigned to the task Can drag and drop a document associated with the task Can view and add other related tasks Tracking Summary and Refresh buttons Comments that can be added associated with the task [Double-check if itâs the same layout for all tasks]
- This list shows what controls can be triggered at Status 20 The green are based on rules The orange are based on the questionnaire in the Application Review Blue is a configured control, i.e. the conditions on the Commitment that need to be fulfilled before a deal moves to Status 50 Purple is tasks that are manually added based on Compliance alerts [Need more info on these controls]
- We conclude with one more exercise
- A deal in Status 20 will have an Approval item under Internal conditions The system will tell the Originator what level of approval is needed The Originator can still assign it to any approval level (i.e. their direct manager), but only the required approval level can actually approve it After having assigned it to a lower level, the Originator can reassign it to the higher level that needs to approve the deal [Need to confirm this] The names appear in the drop-down
- When a deal is sent to DCA for approval, it locks All information is available to the Originator but they cannot do anything with the deal while it is locked
- You are able to search and pull up any loan within Home Trust; the other icon shows notifications Here you can filter to see deals within a particular date range â based on tracking request date All the column headers have either or both of the functions to order in a descending or ascending order, as well as to filter/search a key word The Task Status shows the status of each approval item: green means that it is completed and red means that it requires an action [Check with Frank to confirm] By clicking on any deal line, you access the details of the deal
- Here you can approve or reject the deal, as well as view the deal as CAF: NOTE: there is no Notification that tells a user that a deal has been reviewed by a DCA approver, the DCA approver will need to send an email to inform the Originator NOTE: clicking âAcceptâ equals your signature and is your attestation that you have read everything and agree completely with the deal. The different icons give you a view of the different details pertaining to the deal Here you can review all notes pertaining to the deal, as well as write your own notes pertaining to pricing approval; there is not a need to provide a note if you approve the deal, but if you reject it, a note should be put in; the system does not force the user to write a note upon rejection Allows you to see all Internal, Solicitor and Broker conditions, pertaining to the deal; you can also: Write a note pertaining to a condition or a task View the deal journey map Add a tracking item
- Dropdown to view specific categories of notes Search area to look for key words in the notes Dropdown shows Notes Categories; DCA approver only has the ability to add a note in the Pricing Approval category Area to write the notes and submit them You close the notes by clicking on any area outside the Notes box
- [Need new screenshot as per Kymâs feedback] Allows the user to write comment pertaining to the tracking item Allows the user to see the details pertaining to a particular tracking item, i.e. the completed Application Review task
- [Need new screenshot as per Kymâs feedback] The highlighted button gives you access to the deal journey map, which is a view only screen Gives you a view of the deal as a whole