-          This status reflects a proposal that has been created by Sales Support or Broker Support in CLO. At this stage it has simply been created.

-          The information inputted into CLO usually is copied from a word/pdf document received by email.

-          A Sales Rep or Broker can input this information through their apps which pulls through on CLO once created.

-          Once created in the system, Sales Support/Broker Support carry out business and credit searches on the director information provided. We then drag and drop the searches, other supporting documents into the proposal folder In CLO.

PROPOSAL RE-WORK

-          Proposal re-work can occur at any point past a deal being submitted to underwriting. (i.e Underwriting, transact, further information required, declined, documents raised, documents received, ready to convert)

-          This in essence, means you can edit the originally deal and re-submit it to underwriting.

-          In the Sales app a Sales Rep or BDM can re-work deals as well as re-submit them back to underwriting.

-          A re-work of a deal happens for a variety of reasons and once you click this button on CLO, (The user if forced to select said reason via a drop down on CLO) This does not apply in the Sales/ Broker apps.

-          This differs only when a deal is in the stage of Further information required. At this point no pop out (to select reason for re-work) appears because the reason for re-working the deal is because the underwriter has requested more information.

UNDERWRITING

-          This occurs when Sales Support/ Broker Support submit the deal to underwriting.

-          This then populates into the underwriting launchpad on CLO. An Underwriter can then allocate a deal to themselves.

-          If a proposal is submitted through the sales app, the deal goes straight into underwriting and Sales Support get notified in their inbox. Sometimes Sales Support need to run credit searches or they have been done prior to the Sales rep creating the proposal.

-          If a proposal is submitted in the Broker App, the deal goes straight into the underwriting queue and Broker Support get notified in their inbox. They need to run the credit searches (Business and Individual through Experian) and move the files across into CLO for underwriting to be able to see all relevant documents.

RECOMMENEDED

-          This is used by underwriting only.

-          It is normally when one underwriting reviews a deal but needs another underwriter to review it due to not having a large enough mandate.

-          The underwriter will select recommend in the decision tab. They can either just put recommend or recommend it to a certain underwriter. The deal then goes back into the underwriting queue.

FURTHER INFORMATION REQUIRED

-          Underwriting put a deal into the status of further information required. This is done within the dropdown list of decisions.

-          This is when they cannot make a decision with what information has been provided by the Rep/Broker.

-          Currently, this decision is sent to the Sales Owner, Sales/ Broker Support personal inbox’s.

-          If a deal has an introducer/Broker loaded on CLO, the decision goes into the Broker Support inbox to manually edit and forward onto the Broker. (due to change in March'20)

Transact

-          This means a deal has been accepted by underwriting. A deal is either accepted as proposed or accepted not as proposed. (This field is selected by underwriting)

-          Once accepted by underwriting an email is generated which goes to the Sales Owner, all of Sales/ Broker support personal inboxes. If the deal is Broker introduced, this acceptance goes to the Broker. (The email saved to their account on CLO)

-          From this acceptance the rep/Broker speaks to the customer and a deal may or not go ahead from this point.

DOCUMENTS RAISED

-          Sales/ Broker Support move a deal into docs raised if we have raised documents on a deal/ we have been asked to check documents from a Broker or we have been asked to e-sign documents. (through docusign)

-          This means the deal is likely going ahead and the process of payout has started.

DOCUMENTS RECEIVED

-          Sales/ Broker Support move a deal into docs received once signed documents have been received. (This is notified through email – either by the rep or docusign to say docs have been completed.)

-          At this stage is when Sales/Broker Support check a payout and all other supporting documents before sending a deal to be second checked by the payouts team.

READY TO CONVERT

-          Once Sales/Broker support think that a deal is ready to be paid, they put it into ready convert.

-          This means the deal moved into the payouts queue (launchpad on CLO)

-          Payouts then allocate deals within the team and do the relevant checks. (‘assign to me’ on transact CLO)

-          If they find outstanding items, they can send the deal back to Sales/Broker Support with notes as to what is required. (Click ‘Pass Back to SS’ button on the transact tab on CLO and then select reason for re-work.)

-          From a status point of view, it puts the deal back into ‘docs received.’

-          Sales/ Broker Support can then put a deal back into ‘Send to payouts’ once the outstanding items have been met.

AWAITING DEPOSIT

-          This status means the deal is just waiting for the deposit to be paid.

-          A deal is moved into this status by payouts only. (clicking awaiting deposit on CLO)

-          If a deal is put into this status, the Sales Support who sent the deal to payouts and the Rep are sent an email.

LOST

-          A deal can be marked at lost at any point once the deal has been created. (i.e Proposal, Proposal re-work, further information required, transact, declined, docs raised, docs received, ready to convert)

-          A deal gets marked as lost on CLO automatically after a certain time period (need to find rules as cannot remember – ask Bhav)

-          A Rep or Sales/ Broker support can also mark a deal as lost on CLO. This is if we know the deal is no longer going ahead. You can add the reason on CLO once you select ‘deal lost’.

-          A deal comes back from Lost for a variety of reasons.

TRANSFERRED

-A Payout member will click the ‘convert’ button on CLO when a deal is ready to be passed over to CL Lease. The application will be in either ‘Ready to Convert’ or ‘Awaiting Deposit’ when they do this.

-Transferred status means its converted to cl Lease but not yet activated

-A CL Lease contract agreement number (LES….) will auto create at this stage

- Once a deal is transferred, the deal cannot move back to Ready to Convert

ACTIVATED

-To activate a contract, a payout member will open the contract agreement on CL Lease

-The contract will currently be showing as a ‘partial application’ on CL Lease

-They will then click the ‘(Re)generate streams’ button to move the CL Lease status to ‘Approved’

-they will then Click the ‘Activate contract’ button to move the Cl Lease status to ‘ACTIVE - GOOD STANDING’

-This then moves the CLO status from ‘transferred’ to ‘ACTIVATED’