Counterparty and account setup

A fund treasury team begins with the organization whose instructions it will prepare. The App Administrator keeps its name, code, currency and time zone consistent, then identifies the banks, custodians and settlement counterparties that may receive an instruction. A counterparty’s active flag and eligibility note give preparers a concrete reason to select it. Changing a contact name is routine maintenance; changing whether an entity is eligible calls for a deliberate review because later instructions still point to that counterparty.

A provider-held financial account belongs to a counterparty. Keep the account code, provider identifier, currency and active state current. The external account identifier gives the team a way to compare its local account with the provider’s record. When the provider retires an account, preserve the old record for prior instructions and movements. Use the active state to guide new work. The Treasury Operations Lead should resolve duplicate account codes and ambiguous provider identifiers before the first instruction is drafted.

• Organization. Set the permitted operating entity and its currency and time zone before assigning people.
• Counterparty. Record the provider or settlement party, its contact and eligibility note under the right organization.
• Account. Identify the provider-held account and its currency, and retain its history when it stops being used.

The App Administrator and Treasury Operations Lead agree who may edit the directory, how a provider account identifier is verified, and who decides a counterparty is eligible. They also agree how preparers learn about changed provider contacts and how old records remain available to the Auditor. Team members have their own organization, active state and role name; directory maintenance must respect that assignment. An administrator’s ability to maintain membership is separate from the independent approval of an instruction.

Suppose a fund team opens a new provider account for a settlement counterparty. The App Administrator records the counterparty and its eligibility note. The Treasury Operations Lead adds the provider account with the currency and external identifier supplied by the provider. A preparer can now choose that counterparty for a draft instruction and link its debit and credit scopes to known accounts. The team checks that an account under another counterparty does not quietly appear as the same destination. If the provider changes the account identifier later, investigate which instructions already used the old value before editing the record.

• Active counterparties — The eligible directory for starting new treasury work.
• Instructions by status — Instructions that use the selected counterparty, with their current owner and amount.

See instruction preparation and account opening.