Based on built-in constructors, the control module for committees and workflows on securities memorandum approval provides unprecedented opportunities to independently create and manage all types of committees (from one committee member to an unlimited number of committees with different composition and powers of committee members) without programmers assistance on the common interface principle in accordance with requirements of the organization.
The system constructor provides broad options to setup all committees with the following basic parameters:
- setting the committee level (level 1, level 2, etc.);
- appointment/election of a committee in the structural division (throughout the organization, in a particular branch or division, etc.);
- setting the types of voting for each specific committee (decision-making by a majority of votes, unanimous decision, majority of votes with percentage ratio);
- setting the values of majority of votes in the form of a percentage ratio for decision-making;
- setting the status of committee members (with or without a chairman);
- number of committee members;
- minimum number of committee members to make a decision;
- other parameters.
The functionality allows to appoint and/or reappoint committee members and their chairmen within the system by means of integration with the organization's human resources control module.
After generation of loan committees and their composition within the module, another constructor enables to set up a workflow for securities memorandum approval. Main parameters of the setup constructor for workflow approval:
- segmentation of a product group (types of securities, etc.);
- product (a particular product by which individual approval rules are configured);
- confirmation of approval chain for structural division application (for an entire organization, for a particular branch or division, etc.);
- initial amount and currency of consideration (the minimum threshold amount for consideration by a committee);
- final limit (maximum amount of funding confirmed by a particular committee);
- sequence principle (confirmation is final or another level of approval is required);
- sequence (in what sequence the product is approved);
- decision making (issue of securities or restructuring);
- other parameters.
In such a way, a multidimensional model is created in the system based on the built-in constructor in order to setup any workflow for application approval without technical staff assistance, which supports online voting for all the required committee members according to the approved memoranda.
Additionally, the module includes functionality for tracking the flow of committees to ensure maximum decision-making speed within the structural divisions of the organization.
This module enables setup and automated generation of required printing forms:
voting protocol and other documents.
As a result, the system's functionality fully meets the needs of a financial organization for setting up the workflow of application/ memorandum approval for all types of securities.