Monitoring Regulated Individuals

This chapter provides an overview of the monitoring process and discusses how to:

• Review regulated individuals.

• Observe regulated individuals.

• (GBR) Monitor key performance indicators (KPIs).

• Set up and enter check details.

• View related information.

Understanding the Monitoring Process

A key step in the set up of Manage Professional Compliance involves defining a process for monitoring the progress of individuals as they meet the requirements for professional certification.

In Manage Professional Compliance, monitoring consists of these features, procedures, and views:

• Reviews

  Reviews, together with observations and KPIs, fall under the monitoring umbrella, and enable you to assess a regulated individual’s progress.

  Reviews are directly associated with development plans and are intended to measure groups and individuals against all of the elements in a plan. At the conclusion of a review, if the review identifies the individual as lacking in certain areas, you can set up further development plans. However, passing each element of the plan either implies that the individual can move on to the next classification category or that the individual has become fully compliant or qualified.

• Observations

  Observations are different from reviews because they are not directly associated with a development plan.

  Observations ensure that an individual follows a certain predefined process, either within the working environment or while the individual is with a client. For example, an individual must follow the company’s advisory process when selling financial advice to a client. A company can set up these predefined processes in the form of observation models, which outline each specific step that is observed. As with reviews, observations may show that the individual requires further development.

• Key Performance Indicators (KPIs)

  KPIs monitor the regulated individual’s performance against predetermined standards. Five KPIs are delivered as part of the U.K. Professional Financial Compliance process:

  • Complaints: Number of complaints against the individual versus those against the company.

  • Persistency (of business sold): Percentage of sold business that is still in force.

  • Spread of Business: The range of products that the individual is selling.

  • Not Taken Up (NTU): Number of proposals that have been submitted but not put into force.

  • Factfind Completion: Check on accuracy, completeness, and quality of service.

    Note. These KPIs are directly targeted at the U.K. financial services arena. However, you can use the key structure of the KPI records, and the way in which the functionality is incorporated within Manage Professional Compliance, as a guide for creating additional KPIs.

• Checks

  Checks allow you to define background checks for regulated workers, and to monitor compliance with these checks.

  For example, you can set up a check for financial service workers that requires them to submit a review of their finances before they can be certified.

• Inquiries

  Inquiry pages which the Manage Professional Compliance process provides to supervisors and managers show information related to the other monitoring elements that are described here. Supervisors and managers can view/review a regulated individual's review history, observation history, and check history.

See Also

Using Inquiry Pages

Common Elements Used in This Chapter

See Also

Working with System Data Regulation in HRMS

Reviewing Regulated Individuals

This section provides an overview of reviewing regulated individuals and discusses how to:

• Enter development review details.

• Review a development area.

Understanding Regulated Individual Reviews

Before you review a regulated individual, set up a development plan for that person. This is because when you review an worker, you are reviewing them against the elements of their plan. If you have not yet set up the plan, you must do so on the Development Plan page (using the accomplishments, competencies, courses, and activities that you created as part of the development plan setup).

To review a regulated individual:

1. Set up a development plan using the Development Plan pages.

2. Enroll the individual in a development plan using the Development Record and Development Area pages.

3. Enter a review of the individual on the RI Dev Review (regulated individual development review) and RI Dev Area Review (regulated individual development area review) pages.

4. View the review history of the individual on the RI Review History (regulated individual review history) page.

5. Use the RI Review Report (regulated individual review report) page to generate reports of workers’ review histories to see how they have measured against the elements of a development plan.

See Also

Defining Development Plans

Entering and Maintaining Regulated Individual Data

Using Inquiry Pages

Pages Used to Review Regulated Individuals

Entering Development Review Details

Access the RI Dev Review page.

Creation Date	Displays the creation date of the regulated individual’s development plan that you entered on the Development Record page.
Expected Completion Date	Displays the expected completion date of the regulated individual’s development plan that you entered on the Development Record page.
Actual Completion Date	Enter the actual completion date of the regulated individual’s development plan.
Status	Select the status of the regulated individual relative to the broad goals of the development plan.
Comments	Enter comments about the regulated individual’s performance.

Reviewing a Development Area

Access the RI Dev Area Review page.

Development Type	Displays the type of development activity against which you are assessing the regulated individual. Values are Accomp (accomplishments), Competencies, Courses, and Activities.
Development Area	Displays the specific activity within the development area (accomplishment, competency, course, or activity) against which you are assessing the individual’s performance.
Status	Select the performance status of the regulated individual relative to the specific development activity that appears in the Development Area field.
Comments	Enter comments about the regulated individual’s performance.

See Also

Defining Development Plans

Observing Regulated Individuals

To set up observing regulated individuals, use the Observation Element (PCMP_OBS_ELEM), Observation Model (PCMP_OBS_MODEL), and Record RI Observation (PCMP_RI_OBS) components.

This section provides an overview of observing regulated individuals and discusses how to:

• Define observation elements.

• Construct observation models.

• Add observation elements to models.

• Enter observations.

• Enter observation details.

Understanding Regulated Individual Observations

Unlike reviews, observations are not linked to development plans, so it is not necessary to define a plan before you can observe a regulated individual. However, you must perform several set up steps before you can enter observation data. After you have completed these set up steps, you can enter observations, review observation histories, and generate observation reports.

To perform observations:

1. (Setup) Define observation elements using the Observation Element page.

   Observation elements are the individual activities that you want to observe. After being defined, these observation elements can be reused and combined in different ways to create observation models, such as the ones discussed in steps 2 and 3.

2. (Setup) Enter a name and description for the observation model that you are creating on the Observation Model page.

   An observation model organizes individual observation elements into a process or procedure that regulated individuals may be required to follow. For example, a financial advisor may be required to inform customers of the charges that might apply when they purchase stock, and then advise them of the known risks of investing in a security before they sell a specific stock. The steps of discussing charges, assessing risks, and selling are part of a process that can be observed and structured as an observation model.

3. (Setup) Add observation elements to the observation model on the Model Elements page.

4. Assign regulated individuals to one of the observation models and enter your observations of regulated individuals in relation to the observation elements that are part of the observation model on the RI Observation (regulated individual observation) and Obs Elements (observation elements) pages.

5. Display the review history of the individual on the RI Observation History page.

6. Generate reports of an worker’s observation history to see how they measure against all of the elements of the observation model on the RI Observation Reports page.

See Also

Using Inquiry Pages

Pages Used to Set Up Observation Elements and Observe Regulated Individuals

Defining Observation Elements

Access the Element page.

Observation Element and Description

Enter name and description for the observation elements that you want to use in the observation model.

Constructing Observation Models

Access the Observation Model page.

Observation Model	Enter name for the observation model.
Comments	Enter comments about the observation model.

Adding Observation Elements to Models

Access the Model Elements page.

Observation Element	Enter the observation elements that you want to include in the observation model.
Required	Select if the observation element that you specified requires a mandatory “pass” status.
Comments	Enter comments about the observation elements.

Entering Observations

Access the RI Observation page.

Observation Date	Enter the date on which you perform the observation.
Observation Model	Enter observation model against which you assess the regulated individual whose employee ID appears at the top of the page.
Status	Select the general performance status of the regulated individual relative to the observation model.
Comments	Enter comments about the regulated individual’s performance.

Entering Observation Details

Access the Obs Elements page.

Observation Element	Displays the individual activity that you are assessing or observing.
Required	The system selects this check box if you specified on the Model Elements page that the observation element requires a “pass.”
Status	Select the performance status of the regulated individual relative to the observation element.
Comments	Enter comments about the regulated individual’s performance.

(GBR) Monitoring KPIs

To set up monitoring KPIs, use the Complaint Type (PCMP_COMPL_RI), Complaints (PCMP_RI_COMPL), Product Type (PCMP_PROD_TYPE), and Conduct Key Perf Indctr Rvw (PCMP_RI_KPI_REV) components.

This section discusses how to:

• Define complaint types.

• Register complaints.

• Define products.

• Associate products with companies.

• Enter KPI review details.

• Define KPI statistics.

Understanding Monitoring KPIs

To measure an individual’s progress against KPIs, first set up specific indicators. PeopleSoft includes the following broad categories of performance indicators as part of the application; within these categories, however, you must choose (and in some cases set up) the exact indicators that you want to use:

Note. The following KPIs are directly targeted at the U.K. financial services arena. However, the key structure of the KPI records, and how the functionality is incorporated within the Manage Professional Compliance business process, can be used as a guide for creating additional, configured KPIs.

Performance indicator categories are:

• Complaints: Number of complaints against the individual versus those against the company.

• Persistency (of business sold): Percentage of the sold business that is still in force.

• Spread of Business: The range of products that the individual is selling.

• Not Taken Up (NTU): Number of proposals that have been submitted, but not put into force.

• Factfind Completion: Check on accuracy, completeness, and quality of service

To set up and use performance indicators:

1. Define complaint types on the Complaint Type page.

   Complaint types are the kinds of problems that customers make against a regulated individual. For example, “Gave poor advice,” or “Sold inappropriate product” are complaints that a customer might log.

2. Register complaints against an individual on the RI Complaint (regulated individual complaint) page.

3. Define products and product types on the Product Type page.

   This is important because the majority of delivered KPIs—persistency, spread of business, and NTUs—measure an individual’s success in selling or maintaining customer satisfaction with regard to products.

   Note. Before you can measure persistency, spread of business, and NTUs, you must define products and product types. Link these products and product types to a company, and then associate the products and services to the regulated individuals who provide them.

4. Associate products and product types with companies on the Company Compliance – Products page.

   Before you can monitor these KPIs, specify the types or classes of products and services that your company provides, and then associate the products and services to the individuals who are responsible for selling them.

5. Associate products and services with the regulated individuals who are responsible for selling them on the RI Product (regulated individual product) page.

   The products that you identify on this page are those that you previously defined on the Product Type page.

6. Enter KPI review details, such as review date and frequency type, on the KPI Review (key performance indicator review) page.

7. On the KPI Statistics (key performance indicator statistics) page, enter complaint, persistency, spread of business, NTU , and factfind completion data for the individual.

Pages Used to Monitor KPIs

Defining Complaint Types

Access the Complaint Type page.

Complaint Type and Complaint Description

Enter a complaint type code and description.

Registering Complaints

Access the RI Complaint page.

Supervisor	Displays the name of the regulated individual’s supervisor.
Complaint Type	Enter the type of complaint that you want to register against the individual whose employee ID appears at the top of the page. Values are the complaint types that you defined on the Complaint Type page.
Complaint Date	Enter the date on which you log the complaint.

Defining Products

Access the Product Type page.

Product Type	Displays the product type category that you entered to access the component.
Product	Enter and describe the individual products that belong to the product type category.

Associating Products With Companies

Access the Products page.

Product Type	Enter one of the broad product categories that you defined on the Product Type page.
Product	Enter one of the products that belongs to the broad product category.

Entering KPI Review Details

Access the KPI Review page.

Review Date	Enter the date on which you are performing the review.
Frequency Type	Select the frequency of the review.
Comments	Enter comments about the regulated individual.

Defining KPI Statistics

Access the KPI Statistics page.

Review Date

Displays the date of the KPI review.

Complaints

Persistency

Spread of Business

Not Taken Up (NTUs)

Factfind Completion

Setting Up and Entering Check Details

To set up check details, use the RI Checks (PCMP_RI_CHK), and Check Type (PCMP_CHK_TYPE) components.

This section provides an overview of setting up and entering check details and discusses how to:

• Define check types.

• Enter check data.

Understanding Check Detail Setup and Usage

Use the Manage Professional Compliance business process to monitor compliance with various kinds of checks that are required for professional certification. For example, certain groups of workers in your company may need to submit to financial background checks or security checks before they can be certified.

First, define the types of checks you want to perform; then, enter data on each individual as they pass or fail the required checks. Using an inquiry page, you can then review each individual’s compliance status.

To set up and use checks:

1. Define the check types that you want to use on the Check Type page.

2. On the RI Check (regulated individual check) page, for each individual, enter whether they have passed the check and enter the check date.

3. Review the individual’s check history on the RI Checks History (regulated individual checks history) page.

See Also

Using Inquiry Pages

Pages Used to Set Up and Enter Check Details

Defining Check Types

Access the Check Type page.

Check Type

Enter the types of check—for example, financial, stability, health, or security—that you want to perform .

Entering Check Data

Access the RI Check page.

Supervisor	Displays the name of the regulated individual’s supervisor.
Check Date	Enter the date on which you perform the check.
Check Type	Select one of the check types that you defined on the Check Type page.
Status	Select the status of the individual relative to the check that you are performing.
Comments	Enter comments about the check.