Independent decisions

An instruction can reach the provider only after an Independent Credit Approver reviews it. The reviewer checks the submitted revision, organization, counterparty, account scope and supporting evidence. The decision record names the reviewer, decision, time and reason. This gives the Credit Officer a clear answer and gives the Auditor a source record to inspect later.

The review is about the instruction’s actual content. If its owner changes the scope, value date or amount after submission, the earlier decision cannot authorize the new revision. The decision must belong to the same parent instruction and source revision. A reviewer should not approve their own submission, even if they hold more than one system role.

• Instruction review. Route the submitted instruction and its attachments to an independent reviewer.
• Revision evidence. Store the decision against the same instruction and the version reviewed.
• Account application decision. Keep a related provider-account application and its outcome separate from the instruction’s provider confirmation.

Define which evidence an approver must inspect for an instruction and which cases require a reason for return or rejection. Agree how a changed revision returns to the review queue. Set a clear rule for an unavailable reviewer so reassignment preserves independence and the new actor is recorded. Membership administration alone must not grant the right to sign a financial instruction.

The account-application record represents a request to open a provider-authorized account against an instruction. Its applicant, initial deposit, submitted time and provider application identifier explain the request. The Independent Credit Approver checks its frozen revision and records an independent decision before the status changes. Completion requires the provider’s actual authority. A local approval and an opened account are separate outcomes.

Take an instruction in review with a supporting attachment. Have the assigned Credit Officer try to approve it; the independent decision should remain unavailable to that person. Then have an eligible Independent Credit Approver inspect the current revision and record an approval or rejection with a reason. The instruction status should follow the recorded decision, and the Auditor should be able to connect the status to its reviewer and time.

For an account application, submit the application under the same parent instruction. Have a different authorized reviewer compare its revision and evidence, then record the decision. If the provider has not supplied an account authority, leave completion open even when the internal decision is approved. If the application is revised, verify that the next decision references the new revision rather than the prior submission.

• Instruction approval inbox — Instructions under review with their owner, revision, counterparty and amount.
• Account application inbox — Submitted account requests with applicant, initial deposit and revision for a decision.
• Review decision history — Recorded reviewer, decision, time and reason for audit.

Use independent review for the instruction decision and account application for the provider-account request.