NonAcat Processing
What is the NonACAT hierarchy when sending out client requests?
Fax, overnight, standard.
NonACAT Transfer Rejects can be received through one of the following channels:
-Delivering firm rejection letter
-Delivering firm verbal confirmation of reject
-NonACAT Research reject notification
-Rejection notification from a client
Days the robot checks
What is days 26, 36, & 43?
DRO stands for
What is Direct Rollover
SPOC stands for
What is Single Point of contact
What is the decedent to inherited ira checklist?
Decedent IRA to Inherited IRA Checklist
Is current account type an IRA [Y/N]: (If no, please see special situations)
Is it possible for the client to re-register the assets into an Inherited IRA [Y/N]:
Does the name of the deceased account owner match decedent named on the Vanguard account [NAME] [Y/N]:
Is the Vanguard client a beneficiary of the contra firm account [NAME] [Y/N]:
Is the client a PARTIAL or a FULL beneficiary [FULL/PARTIAL]:
a. If partial, verify the clients entitled amount
If PARTIAL, will the contra firm accept full transfer Instructions for the client's share of the assets? [Y/N or N/A]
This is done when we get a reject
Review the rejection notice to determine the reason for rejection or to determine what additional information is needed.
Contact the delivering firm if the reject reason is unclear, reinitiating instructions are unclear, fax/overnight preference is unclear.
Determine if the contrafirm will accept non-original paperwork, or if originals were returned to Vanguard with the reject letter.
If reject is due to a contra-firm requirement not listed in FISD, please submit a BPM FISD update.
Once the reject reason is determined, review the scenarios below and follow the appropriate procedure to resolve the reject.
If the robot returns an item to you, what processing day is it at?
What is day 43?
Account type the assets are coming from
What is employer sponsored plan? Will also accept 401(k) or 403(b)
When do we contact the Blitz team?
We contact whenever there is a NIGO
What do you do when in you are in the process screen in Crave and you have the BM 295 box selected? How do you resolve an ATA NIGO?
Check to see if FISD mentions Omnibus in the special instructions section. if it does you will need to use the house/cusip list. If FISD does not state Omnibus, you will default and select the dropdown for B50 in Crave.
If rejected due to MSG, what can we do?
In some cases Vanguard can refresh the MSG (ask for originals) or provide a courtesy.
If the robot returns an item to you, what steps should you take?
Review CRAVE transactions for asset arrival, if not here call contra. If contra says assets arriving suspend 7 days. If not arriving send final contact and suspend for 14 days.
Account type the assets are going into
What is Vanguard IRA? Will also accept "retirement"
When do we send an email to have a client contact Vanguard VS contact their contra firm?
Most cases you will send an email to have the client contact their contra firm as we try to keep our call volumes low. Especially if the contrafirm rejected a transfer on their end we use the call contra option.
But if there is a Vanguard error, Vanguard issue or Vanguard reject we have the client contact us.
How do you resolve an ATA NIGO?
Depending on the situation, you will either update the TYT and BPM case by "resolving" or "reinitiating".
This is done when transfer cannot be re-initiated with existing information or paperwork or without client contact
1) Close the existing TOAR record
2) Close the existing Track Your Transfer for the rejected transfer
3) Follow Outbound Client Contact to request new transfer paperwork with necessary updates and statement in CRAVE
4) Manage Reject in BPM Case
5) If a crew error is identified, log the error in the Verint Database.
6) If a Privacy Incident is identified, submit the Suspected Privacy Incident form on Crewnet.
Regardless of if assets are here or not, if the case is at completion what steps do we take?
What is Close TOAR, TYT, and BPM Case?
DRO Assets typically come over to us in this form
What is a check?
When we have a fund that's proprietary what special type of contact do we send out?
what is Proprietary Email
How do we complete a buy-by-none? (step by step, be specific)
1. Before completing the CRAVE NonACAT process, create a BPM case. In BPM under Transfer of Assets/Automatic Investment Plan Fallout/VBA
2. Run Line of Business
3. Select transact button on CRAVE
4. For Retirement accounts, select Asset Transfer as the contribution type
5. Add the Vanguard Mutual Fund(s)
6. Enter $0.00 in the amount field
7. Select None in the “Where the money is coming from” field
8. Enter the time and click on continue button
9. Review and submit
10. In your BPM Comments, copy and paste the confirmation
Rejected due to wrong firm (what do we do)
If the transfer was initiated to the wrong contrafirm or the wrong address, you will need to submit a Suspected Privacy Incident form .
If the original paperwork was not returned to Vanguard, contact the firm that received the paperwork in error.
Request that the paperwork be returned.
If not possible, confirm that the paperwork will be shredded. Include these notes in the privacy incident.
When submitting a privacy incident, you will fill out all the relevant fields with the contrafirm information and the client information.
Log the error in the Verint Database
Surprise!!
You Got Free Points!!
This the name of the Vanguard form can be used to initiate a DRO
What is Employer Sponsored Plan Rollover to IRA Form?
How do we know if there is a SPOC on file, what are we looking for exactly?
What is... Looking in Dynamics and the Assets/OAA Tracker
-Notes saying SPOC and name and touchpoints
-Name of phone rep attached and it shows "advanced"
(can review job aid from 5/15)