This latest Tech Tip will help financial advisors learn how to leverage Orion financial technology

Stay on Top of Employee Oversight with the Supervise Tool

Even if you’re a one-person shop, keeping track of portfolio management, trading and billing can be a daunting task. In this week’s Tech Tip, we’ll show you how the Supervise Tool, found within Orion’s Compliance app, can help you spend less time monitoring trading and billing functions, and more time meeting with clients, so you can enjoy your business again.

What?

The Supervise Tool helps you create a testing regimen that can automatically run your queries at a specific time, and save you a great deal of prep work over manual review processes.

You can also establish a supervisory exception reporting system that can aid you in quickly reviewing portfolio management, trading practices, billing and many other items that can help reduce risks to your firm.

Why?

As an app that was custom built for compliance professionals, Supervise benefits users who are responsible for managing your oversight program. Depending on the size of your firm, that could be a dedicated Chief Compliance Officer, or it could be yourself, if you’re a one-person shop.

Ultimately though, your clients will receive the benefit of working with a well-regulated firm that stays current with compliance reporting requirements. With a smoothly-run compliance department, you can spend more time focused on building client relationships.

How?

To access the Supervise tool:

  1.       Open the Compliance app in Orion Connect.
  2.       Navigate to the left side menu.
  3.       Here, you will find six tabs:
  • Open Items: All queries that have run, but have not yet been reviewed.
  • Completed Items: All queries that have been reviewed to 100% completion. By default, this list is filtered to show only queries run during the last month.
  • All Items: A complete list of all Open and Completed Items.
  • Scheduled Queries: A complete list of all queries you have scheduled to run, including the last run time and next run time for each.
  • Exception Items: A list of query results that have been marked as an exception.
  • Query Templates: A list with descriptions of all pre-populated query templates created by Orion and all new templates you’ve created.
  1.       There are several queries available within the Supervise app. Feel free to review the templates that have already been created to see if they will fit your needs.
  2.       Pre-created templates include reviews of households by state, active accounts without a balance and specific transition reviews. If you choose to create your own template via the Actions button, you’ll go through a simple tutorial wizard to complete each necessary step.
  3.       After creating a template, you can schedule your queries to run via the Scheduled Queries tab. Once a query has run, you access its results on the Open Items page.
  4.       Double-click an Open Item to view its results within Supervise. As you check off each line as reviewed (either with multi-select or individually), the progress meter will fill up. Once it hits 100% your Open Item will automatically move to the Completed Items list.

Most Popular Supervise Queries

ID 78 – Inactive Accounts Not Zero

ID 11 – Active Accounts with a Zero Balance

ID 101602 – Daily Trade Activity (All Products Types Included)

ID 13909 – SEC Trade Blotter – Equities

ID 13910 – SEC Trade Blotter – Fixed Income

ID 16618 – SEC Trade Blotter – Mutual Funds

ID 13911 – SEC Trade Blotter – Options

ID 14401 – SEC Standing Letters of Authorization

ID 100 – New Money Report

ID 16731 – Daily Advisory Trades Excluding Cash Transactions

ID 2170 – Trading Blocked Accounts

ID 5522 – Out of Tolerance Report

ID 15094 – Canceled Account

ID 18060 – Same CUSIP, Same Day Trades

ID 15220 – Trading Inactivity Report

ID 7629 – Fee Schedule by Accounts

We hope you will find these queries beneficial. If you have any questions, or need additional guidance, please don’t hesitate to contact the Compliance Team at compliance@orion.com.

0833-OAS-8/12/2019