2.3 Workflow
The life cycle of the Compliance Regulatory Reports is described in the following workflow diagram.
Description of the illustration workflow1.jpeg
A report is created in the OFS CRR application either from OFS ECM or within the application. When a report is created in the application, the report details are entered and then submitted for approval. An authorized user validates the report details and either approves, rejects, or closes the report.
If the report is approved, an e-file is generated for the report. The generated e-file is submitted with FinCEN’s BSA E-Filing System. The e-file is validated, and an acknowledgment (XML file) is generated. The acknowledgment file is then uploaded into the OFS CRR application, thereby completing the SAR process. The status of the report changes to Filed. The Filed status is the final status given to a SAR that has been submitted to and processed by FinCEN.
If the report is rejected, then you must rework the report and submit the report for approval or you can close the report. If you close the report after being rejected, then the status of the report changes to closed. But if you choose to rework the report, then the status of the report changes to request for approval, which must again be validated and approved by authorized users. This process continues until the report is approved or closed.
If there are any changes made to an approved report, the status of the report changes to Re-approve Required, which must be validated by authorized users.
If you determine that a SAR report should not be filed, you can close it. The Closed status removes it from the work queue and helps to distinguish it from those in a Filed status. If the report is closed, the report details cannot be edited, and the report is in View mode .
For more information on user roles, see Table 3-1.
Every report generated in the OFS CRR application can have various statuses.
Table 2-1 Action and Status
| Action Taken | Resulting Report Status |
|---|---|
| A report is auto-generated or created manually. | Open |
| An authorized user has updated and submitted the report details for approval. | Request for Approval |
| An authorized user validates the report details and has taken approved action. The user can now file the report with the regulatory authority. | Approved |
| An authorized user has edited the approved report details. The user must take the Re-approve action on the report to run the report validations and ensure that the editing did not introduce any report validation errors. | Re-Approve Required |
| An authorized user has taken close action on the report. | Closed |
| An authorized user has taken a reject action on the report. | Rejected |
| An authorized user has generated an e-file for an approved report. | E-file Generated |
| An authorized user has rejected the generated e-file for filing with the regulatory authorities. | Rejected from E-file |
| An authorized user has filed the regulatory report with the regulatory authorities. | Filed |
The report has a life cycle, which begins with the Open status and ends when it is Closed/Filed.
Table 2-2 Actions Performed by Various Users in Different Statuses
| Status | Possible Action | Resulting Status | User Roles |
|---|---|---|---|
| Open | Request For Approval | Requested for Approval | Analyst/Super User |
| Close | Closed | Analyst/Supervisor/ Super User | |
| Approve | Approved | Supervisor/Super User | |
| Request for Approval | Approve | Approved | Supervisor/Super User |
| Reject | Rejected | Supervisor/Super User | |
| Close | Closed | Supervisor/Super User | |
| Approved | Re approve | Approved | Supervisor/Super User |
| Reject | Rejected | Super User | |
| Close | Closed | Super User | |
| Generate E-File | E-File Generated | Super User | |
| Rejected | Request For Approval | Requested for Approval | Analyst/Super User |
| Close | Closed | Analyst/Supervisor/ Super User | |
| Approve | Approved | Supervisor/Super User | |
| E-File Generated | File | Filed | Super User |
| Reject | E-File Rejected | Super User | |
| Rejected from E-File | Request For Approval | Requested for Approval | Analyst /Super User |
| Approve | Approved | Supervisor/Super User | |
| Close | Closed | Analyst/Supervisor/ Super User |
The report is in View mode in the following statuses:
- Closed
- E-file Generated
- Filed
You cannot edit report details when the report is in View mode. All action buttons are hidden in View
mode.
Table 2-3 Status in Which Report Details are Editable by Different Users
| Report Status | Analyst | Supervisor | Super User | Auditor |
|---|---|---|---|---|
| Open | Y | Y | Y | N |
| Request for Approval | N | Y | Y | N |
| Approved | N | Y | Y | N |
| Re-approve Required | N | Y | Y | N |
| Closed | N | N | Y | N |
| Rejected | Y | Y | Y | N |
| E-file Generated | N | N | N | N |
| Rejected from E-file | Y | Y | Y | N |
| Filed | N | N | N | N |
To view report details, click the report name in the List of Regulatory Reports. If the report is already opened by another user, the report locked message displays.