Not seeing workflow rules as an option? Talk to your account director to find out how to get workflow rules enabled on your Duco instance.
Once you have enabled Exceptions workflow, you may want to automate your triage and prioritisation process. Workflow rules allow you to automatically allocate, label and assign statuses to exceptions, as well as configuring custom ageing. These features enable you to reduce manual effort and concentrate on correcting breaks. For example:
- If the ISIN is not valid, allocate the exception to the Reference Data Management group
- If the valuation difference is greater than 500,000 allocate the exception to the Investment Committee group
Defining workflow rules
When creating a process, Workflow rules is listed as an option in the Settings menu.
When you select this menu option, you will be presented with the Add rule button.
Workflow rules are constructed using Natural Rule Language. You will find a number of unique operators that specifically help you write workflow rules. These include the ability to:
|
Rule Construct
|
Description
|
|---|---|
|
Allocate the exception to group and assign it to user |
Use it to construct rules like: Allocate the exception to London Operations and assign it to Alice Cube |
| Allocate the exception to group* |
Use it to construct rules like: Allocate the exception to London Operations |
| Set the exception’s status to status |
Use it to construct rules like: Set the exception's status to Closed |
| Label the exception with labels |
Use it to construct rules like: Label the exception with Critical |
| Remove labels from the exception |
Use it to construct rules like: Remove Outstanding from the exception |
| Set the aging start date and time of the exception to a date and time |
Use it to construct rules like: Set the aging start date and time of the exception 10/09/2018 9:00 |
| Comment on the exception with some text |
Use it to construct rules like: Comment on the exception with ISIN contained typo |
*To use a Group in a workflow rule, it must be permissioned to the process. Groups that have only been set as the Default Group on the Exceptions Workflow menu will not be selectable.
To enable you to decide what actions you want to take on an exception, there are a number of operators to check information about the exception:
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Rule Construct
|
Description
|
|---|---|
|
The exception’s status is status |
Use it to construct rules like: If the exceptions status is Pending then remove Critical from the exception |
| The exception’s status is not status |
Use it to construct rules like: If the exceptions status is not Pending then label the exception as Manager Review Outstanding |
| The exception’s match status is status |
Use it to construct rules like: If the exceptions match status is Unmatched then label the exception as Submission difference |
| The exception’s match status is not status |
Use it to construct rules like: If the exceptions match status is not Partial Match Allocate the exception to Singapore Operations and assign it to David Cube |
| Exception is labelled with any of labels |
Use it to construct rules like: If the exceptions is labelled Critical then Allocate the exception to Management and assign it to Alice Cube |
| Exception is not labelled with any of labels |
Use it to construct rules like: If the exceptions is not labelled EMEA then Allocate the exception to North America Team |
| There is a break on fields |
Use it to construct rules like: If there is a break on Notional Allocate the exception to London Operations and assign it to Alice Cube |
| There is no break on fields |
Use it to construct rules like: If there is no break on Price Label the exception with Moderate |
| Exception is assigned to any of users |
Use it to construct rules like: If the Exception is assigned to David Cube Set the ageing start date and time of the exception 10/09/2018 9:00 |
| Exception is not assigned to any of users |
Use it to construct rules like: If the Exception is not assigned to Jane Smith Label the exception with Requires review |
| Exception is allocated to any of groups |
Use it to construct rules like: If the Exception is assigned to Tokyo Operations Set the ageing start date and time of the exception 10/09/2018 8:00 |
| Exceptions is not allocated to any of groups |
Use it to construct rules like: If the Exception is not assigned to APAC Back Office Label the exception with EMEA |
| Age of the exception in days |
Use it to construct rules like: If the age of the exception in days is greater than or equal to 3 then assign to Alice Smith |
In addition to this, all of the usual operator information is available for workflow rules including match fields, reported fields and calculated results.
*Rules are applied to exceptions present in the latest run post-configuration. Historic exceptions do not have the rules retrospectively applied.
Workflow rules sequencing
Workflow rules are applied in order. This means that
- If several rules act on an exception (e.g. several rules assign the exception to different users), actions on later rules will overwrite earlier rules.
- You can refer to earlier actions in later rules (e.g. if you labelled an exception in earlier rules, you can write a rule which uses that information: "if the exception is labelled X, assign it to someone).
Workflow rules are applied after we copy the exception state over from exceptions in earlier runs (if you have auto-close of exceptions switched on). This means that you can refer to existing pending exceptions and age, and base logic on this. This can be useful if you want to escalate exceptions after they reach a certain age or if you want to move items out of "pending" after they reach a certain age.
You can toggle the sequencing of your rules by using the Move up and Move down buttons.
If you have created multiple workflow rules, you may want to view them simultaneously. This can be achieved by selecting Expand all.
This will return a view of all the rules.
You can close out this view by selecting Collapse all.
