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Enjaz Reconciliation & Management V2 Training

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nelly george

on 8 April 2018

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Transcript of Enjaz Reconciliation & Management V2 Training

Enjaz Reconciliation & Management V2 Training

ى
Frequently Asked Questions
What is meant by E-Wallet?
The ‘E-wallet’, is mode of payment for the MoFA fees relevant to each visa application processed at a VSC and represents a pre-paid account that VFS Tasheel holds with Arab National Bank (ANB), the banking partner of the Kingdom of Saudi Arabia Ministry of Foreign Affairs (KSA MoFA).
Introduction
Every VFS Tasheel VSC has an Enjaz account that is linked to a unique ‘E-wallet’. The Operations team at each VSC uses the Enjaz system to complete the below functions for each visa applicant:

Create and submit an Enjaz form for each visa applicant
Complete payment of all MoFA fees (Visa fee, Enjaz fee and if applicable, Medical fees) using the ‘E-wallet’ as the payment method
Obtain and record (on Opsys) the unique Enjaz number and transaction numbers for each fee paid on the Enjaz system
Generate the Enjaz form to be signed by the applicant

Introduction - Objective
Policy & Guidelines
Each VSC is accountable for the accuracy and integrity of the applicant records on Opsys. In order to improve accuracy of the payment/ transaction information, all VSCs must ensure strict compliance to the usage of the
Opsys ‘Autofill’ feature
.

The date of transaction on Opsys
must always tally
with the date of the Enjaz transactions. This implies that the Opsys records must always be processed on the same day as the Enjaz transactions. Each VSC employee is individually accountable for compliance to this requirement.
Roles & Responsibilities - Finance
E-Wallet Reconciliation Procedure
1. Reconciliation of E-Wallet Transactions
2. Resolution of Discrepancies
3. Report Sign-Off
1. Reconciliation of E-Wallet Transactions
2. Resolution of Discrepancies
3. Report Sign-Off
A. Process Overview
E-Wallet Management ( For Finance Reference)
A. E-Wallet funding timing from respective countries:
Part A: Countries with VFS TasHeel Entity

Sections of this Training
1. Introduction
2. Policy and Guidelines
3. Roles and Responsibilities
4. E-Wallet Reconciliation Procedure
5. E-Wallet Management
6. Pending E-Wallet Refund Report

The objective of this training is to outline the policy, procedure, stakeholders and timelines involved with respect to reconciliation of each VSC’s E-wallet account. This reconciliation activity is defined to:

The below
written approvals must mandatorily
be obtained in order for any transaction to be considered as a ‘Cost to company’ or ‘Company approved cost’.




Each VSC Supervisor/ Manager (or pre-designated VSC contact point for e-wallet open issues)
must mandatorily comply with the procedure
defined within this document to resolve each open issue. This includes compliance to the procedures/ required action, timelines/ SLAs, as well as the mandatory supporting evidences defined for each type of issue.

Policy & Guidelines
Note:
In scenarios where Opsys is not accessible, the VSC Supervisor/Manager is accountable for ensuring that the correct Enjaz No. and transaction no’s for each applicant record are updated on Opsys within 01 (one) day after the system is accessible again. Any such exception must always be supported with an Incident Report (IT) for the system downtime.
1. Regional Manager (Operations); and
2. Regional Finance Manager
Policy & Guidelines
In the event of an employee’s separation from the company,
the Regional Manager (Operations)
is accountable to ensure that:









In order to ensure
effective management of the E-wallet accounts
, each VSC must ensure that the Enjaz Admin login credentials are always updated and available with the E-wallet management team.

All Enjaz transactions processed by the employee are reconciled. Further, in case of any open issues identified, the justification and necessary evidences must be provided and resolved prior to the employee’s last working day in the company.

The Enjaz credentials of an employee must be deactivated prior to his/ her last working day in the company, and this confirmation must be provided to the Regional HR Manager.
Policy & Guidelines
The Business Support Team shall henceforth be responsible for updating the Enjaz Admin account password and E-wallet payment password
every 25 days
. The updated passwords shall be communicated to each VSC Supervisor/ Manager in advance of the next working day, for further update on to Autofill on each VSC user’s account.



Compliance to all
policies, procedures and timelines/ SLAs
defined within the
Enjaz reconciliation Policy
are mandatory and auditable. Non- compliance to this document shall result in disciplinary action being initiated against the relevant employees.

Roles & Responsibilities - Finance
Roles & Responsibilities - Finance
Roles & Responsibilities - Finance
Roles & Responsibilities - Operations
Roles & Responsibilities - Operations
Roles & Responsibilities - Operations
1. Reconciliation of E-Wallet Transactions
1. Reconciliation of E-Wallet Transactions
1. Reconciliation of E-Wallet Transactions
1. Reconciliation of E-Wallet Transactions
1. Reconciliation of E-Wallet Transactions
1. Reconciliation of E-Wallet Transactions
A. Process Overview
B. Responsibility Assignment (RACI) Matrix
C. Timelines/ SLAs
C. Reports Compared
E-Wallet Smart Sheet
Standard template created on Smartsheet. 1 sheet has been created for each country of operations, and this is used by the E-wallet reconciliation team and Operations teams, to raise and resolve discrepancies respectively.

Each country’s Smartsheet shall be shared with the below individuals/ teams:

Finance:
1. E-wallet Reconciliation Team
2. E-wallet Management Team
3. Regional Finance Manager
4. Head- Finance

Operations:
5. VSC Supervisor/ Manager (Or pre-designated contact point for E-Wallet open issues)
6. Regional Manager (Operations)
7. COO
Relevant Template
E-wallet Reconciliation Report
This template provides comprehensive information on each VSC’s e-wallet account, and is updated on a month to date basis.

 E-wallet balances (Opening and closing balance)
 Inward and outward transfers
 Reconciled transactions (in USD)
 Unreconciled transactions (in USD)
 Cost to company (Based on reworks/ short collections)

This report must be signed off by the E-wallet management team, Regional Manager (Operations) and RFM on a monthly basis.

Relevant Template
D. Reconciliation Checkpoints
The E-wallet Reconciliation Team reconciles the Enjaz transactions recorded on the below reports/ templates as part of the reconciliation procedure:
As part of the reconciliation procedure, the reports described above are compared for accuracy based on the below checkpoints:
The transactions that do not tally on the Enjaz E-wallet statement and the Opsys reports may be categorized as below, and the tables illustrate the possible reasons for these discrepancies.
1. Excess Collection
(The fee collected on Opsys is more than the fee paid on Enjaz)
3. Non-traceable Transaction
E. Types of Discrepancies
2. Short Collection
(The fee collected on Opsys is less than the fee paid on Enjaz)
A transaction will be considered as ‘Non- traceable’ in the below scenarios:
F. Process Flow
2. Resolution of Discrepancies
2. Resolution of Discrepancies
2. Resolution of Discrepancies
2. Resolution of Discrepancies
2. Resolution of Discrepancies
2. Resolution of Discrepancies
2. Resolution of Discrepancies
A. Process Overview
B. Responsibility Assignment (RACI) Matrix
C. Timelines/ SLAs
Part 1: Operations Response
2. Resolution of Discrepancies
C. Timelines/ SLAs
Part 2: Review of response and Closure
D. Required Action
Part A: Excess Collection
2. Resolution of Discrepancies
D. Required Action
Part B: Short Collection
D. Required Action
Part C: Non traceable Transactions
D. Required Action
Part D: Fee Errors on OPSYS
E. Process Flow - Contd'
E. Process Flow
3. Report Sign-Off
B. Responsibility Assignment (RACI) Matrix
3. Report Sign-Off
C. Timelines/ SLAs
3. Report Sign-Off
D. Process Flow
The E-wallet Management Team shall send each country’s E-wallet Reconciliation Report to the below individuals for a weekly review and monthly audit/ closure:




The Regional Manager (Operations) shall be accountable to close any pending/ open issues within the timelines/ SLAs defined in this document.

The Regional Finance Manager shall be accountable to ensure that the relevant accounting entries are made with respect to the e-wallet management of each VSC

The Regional Manager (Operations) and Regional Finance Manager must review and sign off the weekly and monthly E-wallet Reconciliation Report within the timelines specified in Section ‘3.3 Timelines/ SLAs’.

 Regional Manager (Operations)
 Regional Finance Manager

E-Wallet Management ( For Finance Reference)
A. E-Wallet funding timing from respective countries:
Part B: Countries with FMC Setup

E-Wallet Management ( For Finance Reference)
B. E-Wallet internal transfer process and recovery funds
E-Wallet Management Team (HO) is responsible for all communication with ANB to make any intra e-wallets transfers. Internal transfers may be required depending on the average daily consumption for each country.

E-Wallet Management Team is responsible for guaranteeing the continuity of operations in terms of E-Wallet funding unless otherwise advised by the CEO/ COO.

All Intra E-wallets transfers shall take place when the funds available in the respective E-wallets drop below 120% of the average daily consumption.

The Operations team shall always update the E-wallet Management Team about any change in the daily consumption so that liquidity is always available as required.


E-Wallet Management ( For Finance Reference)
B. E-Wallet internal transfer process and recovery funds
In case the daily consumption increases during high/ peak season, the Regional Manager (Operations) shall be responsible to inform E-Wallet management team; which in turn will be responsible to maintain sufficient funds for managing the operations.

For any intra e-wallet transfer, the E-wallet Management Team shall feed the E-wallet which has no sufficient funds, from other E-wallets which have surplus funds.

The E-wallet Management Team shall be responsible to obtain written approvals from the below individuals prior to initiating an outward transfer from a VSC’s e-wallet account:



E-wallet Management Team is responsible to recover back all cash transferred from any E-wallet to another at a time, when sufficient balance warrants such recovery.

Regional Manager (Operations); and
Regional/ Country Finance Manager
E-Wallet Management ( For Finance Reference)
B. E-Wallet internal transfer process and recovery funds
E-Wallet management team is responsible to keep a track and a log for all intra e-wallets transfers, and to update the respective countries’ E-wallet Reconciliation Reports with details of these transfers .

E-Wallet Management team is responsible to share a weekly report (every Thursday) for all pending transfers not recovered. The report should be shared with the following stakeholders:

A. Central Back Office Operations
B. Regional Managers (Operations)
C. Regional / Country Finance Managers
D. Head - Finance
E. COO
F. CFO
E-Wallet Management ( For Finance Reference)
C. Timeline/ SLAs
For Intra E-Wallet Transfers not recovered or exceeded 3 days of average daily consumption after the duration as per the point mentioned above in E-wallet funding timing from respective countries, the E-Wallet Management team will communicate with Regional Finance Managers and Country Finance Managers to transfer the required amount within the same day of communication, if no action then the E-Wallet Management Team will escalate to the Head - Finance and Operations Regional Heads
Identify the list of transactions that are successfully reconciled for each operational day, taking also into consideration the
‘Refund Float Tracker
’ (RFT) shared by the Operations teams;
Identify the list of transactions that were made on the
Enjaz system
, but not found on Opsys (and vice versa)
Identify transactions for which the fee collected as per Opsys
is not equal to
the amount paid on Enjaz
Detail the procedure to be followed by the Operations teams to resolve the issues identified
Report the cost to the company as a result of errors made at an operational level
Ensure weekly and monthly report sign-offs from the Regional Managers (Operations) and Regional Finance Manager with respect to each VSC’s e-wallet account summary.
Go through the "Enjaz Reconciliation and Management Policy V2.0" document available in your VSC
The below written approvals
shall be mandatory
for the adjustment of any Enjaz transaction related data. The approval request must specify the reason for the error and justification for non- compliance to the usage of autofill.
1. Regional Manager (Operations); and
2. Regional Finance Manager; and
3. E-wallet Management Team
Roles & Responsibilities - Business Support
Pending E-wallet Refunds Report
Pending E-wallet Refunds Report
Pending E-wallet Refunds Report
Pending E-wallet Refunds Report
Pending E-wallet Refunds Report
A. Process Overview
B. Responsibility Assignment (RACI) Matrix
C. Timelines/ SLAs
D. Process Flow
Pending E-wallet Refunds Report
This template reflects the list and ageing of the pending e-wallet refunds from the Mission, consolidated at a global level. This report shall be sent to the MoFA SPOC, for further escalation to MoFA.

Relevant Template
Based on the E-wallet reconciliation procedure and the Refund Float Tracker Smartsheet (Refer to the Refund Policy Version 2.0), the E-wallet management team shall prepare the consolidated ‘Pending E-wallet Refunds Report’ on a fortnightly basis. This report shall be shared with the Head- Finance for his/ her review and approval.
Note:
If the total pending refunds reach the amount of USD 50,000 or more, the E-wallet Management team shall create and send this report on a weekly basis, until the total amount reduces below the same value.
Once the Head- Finance has reviewed and approved the report, he/ she shall send this report to the MoFA SPOC, with a copy to the below individuals:





The MoFA SPOC shall further escalate the report to MoFA as required, and shall provide the response received to the Head- Finance.

D. Process Flow
1. Chief Financial Officer (CFO)
2. Chief Operations Officer (COO)
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