Primer for the Policy Systems for Fund Owners
Fund owners can configure a signatory requirement on funds to ensure that they review and approve all financial and personnel transaction activity on it.
Getting Started - How would you talk about the business with someone else?
A typical business policy for a fund owner may sound something like this:
"Sara (the PI) signs off on all Salary Source Changes for the fund."
When you are discussing the execution of a business policy and considering how you will use them in Sinai Central, you should start with the basic questions below. It often helps to dissect what is being stated in the policy to ensure accuracy.
- Who? - We often start to define "who" with a person's name. To think about "who" in a more generic sense, think of the person in the role they fulfill. In the example above, Sara has the role of fund owner. We can further state information about the role in the sentence "Sara is the fund owner."
- Is Doing the Action? - When you put a signature on a business document, you are showing the next reader that you have approved a requirement on it. Specifically signing rules state the action required to satisfy business behind a transaction. We can further state the signing rule in the sentence "I have to get one signature from the fund owner."
- On What? - What is always defined by the type of business that is being executed. In our case, they are the human resource or finance transactions. You can think of the application of a signing rule to a filter type as a policy. We can further state the policy in the sentence. "The fund owner signs off on all Salary Source Changes."
Lastly, keep in mind that personnel actions and finance transactions have predefined requirements that must meet institutional guidelines (these are often in conjuction with meeting local, state, and federal accounting standards).
The links below reflect departmental creation of roles, rules and policies. The creation of roles and rules remain the same for all levels of policy in Sinai Central. Policies are administered differently. The differences to keep in mind are:
- the scope of the policy is limited to the fund(s) administrated by the fund owner
- the navigation - all the tools you need to create a policy for your fund are found under the Fund service
- the application - applying the policy is the same for personnel actions (from the HR Policy subservice for fund owners). Finance transaction policies are applied to funds through the Fund Manager subservice.
- Fund owners can create the policies. Fund administrators can apply them to the fund they are administrating.
Sinai Central approval chains are based on roles, signing rules, and policies
To establish custom fund approval chains established for your fund, you will need to:
