Operations Control

Every guarded action on an instruction, such as an authorization, a submission to the provider or a reconciliation, leaves an operation receipt. The receipt records the action, a unique operation key, the version it expected, the outcome, the time, any external reference, the records it affected and the failure reason where there is one. Outcomes are Pending, Completed, Failed or needs review.

A repeated action with the same key returns the original receipt and makes no second change. A conflicting action is refused. This is what lets the Operations Analyst tell a client with confidence that an instruction was sent once.

• Receipts for every guarded action. Authorizations, submissions, approvals and reconciliations each leave a receipt.
• Exceptions in one queue. Pending, Failed and needs review receipts sit together for the Operations Analyst.
• Documents on the instruction. Mandates, forms and call notes are attached with a title, evidence type, uploader and visibility of Internal or Shared.

Agree who reviews operation exceptions and how quickly. Decide when a receipt may be marked Completed and what evidence is required. Agree the evidence types you use for attachments and which may be shared outside the firm. Set the schedule for the routine reconciliation of receipts.

During a provider outage, an analyst submits an authorized instruction and the connection times out. The receipt is left Pending with the timeout recorded. When the analyst retries, the same operation key returns the same receipt, and the instruction is not sent twice.

The routine reconciliation reads the Pending receipt, checks the provider’s evidence and finds the instruction was received before the timeout. The receipt is marked Completed with the external reference. Another receipt, for a submission the provider has no record of, is marked needs review with the discrepancy, and the analyst raises it with the provider without resending.

• Operation Exceptions — Receipts waiting for review, with action, outcome, failure reason and external reference.
• Active Counterparties — The eligible counterparties with contacts and eligibility notes.

• Operation receipt reconciliation: Resolve Pending, Failed and needs review receipts.
• Instruction to confirmation: See where receipts are left along the way.

Map the source records before importing history.