Manage Implementation Strategies

An implementation strategy is an element of a risk management plan (RMP) focused on how to implement a given risk measure. In the context of Vault, each implementation strategy is related to a Core Risk Management Plan (RMP).

Overview

This article explains how to:

• Create Core Implementation Strategies to capture an implementation strategy associated with a Core RMP
• Create Local Implementation Strategies from a Core Implementation Strategy to capture implementation strategies for each region that requires a risk implementation strategy
• Create a new version of an existing Core Implementation Strategy

Prerequisite

To manage implementation strategies, your Admin must configure your Vault for Risk Management.

Create a Core Implementation Strategy

To create a Core Implementation Strategy:

1. Navigate to Risk Management > Core Implementation Strategies.
2. Select Create.
3. Complete the applicable fields, then select Save.

Upon successful creation of the Core Implementation Strategy, the following sections appear:

• Documents: Use this section to add any related documents using the Implementation Plan or Local Implementation Plan document classification.
• Risk Measures: Use this section to create Core Risk Measures relevant to the Core Implementation Strategy, as required.
• Local Implementation Strategies: Once you have created the necessary Core Risk Measures, create Local Implementation Strategies to populate this section.

Core Implementation Strategy Fields

The following fields may be available:

Field	Description
Name	Enter a name for the implementation strategy. For Core Implementation Strategies created using the Copy to New Version action, Vault populates the Name of the initiating Core Implementation Strategy plus the date and time the record was created.
Product Family	Select the Product Family of the Product related to this implementation strategy.
Based On	If applicable, select the Core Implementation Strategy on which this version is based, or select the Advanced Search () icon to use filters and refine your search. For the initial version, leave this field blank. Core Implementation Strategies created using the Copy to New Version action inherit the initiating Core Implementation Strategy.
Core Implementation Plan	Select the Implementation Plan-classified document that describes the strategy for risk measure implementation, or select the Advanced Search icon to use filters and refine your search. For Core Implementation Strategies created using the Copy to New Version action, Vault populates the Core Implementation Plan from the initiating Core Implementation Strategy, then updates the document’s Core Implementation Strategy value to reference the new Core Implementation Strategy.
Version	Select the version of the Core Implementation Plan document. For Core Implementation Strategies created using the Copy to New Version action, Vault populates the Version of the initiating Core Implementation Strategy plus one.
Core RMP	Select the Core RMP related to this implementation strategy.

Create Local Implementation Strategies from a Core Implementation Strategy

For each region that requires risk implementation strategies, Vault can create local implementation strategies from a Core Implementation Strategy, including all related documents.

To create Local Implementation Strategies from a Core Implementation Strategy:

1. Navigate to Risk Management > Core Implementation Strategies > [Core Implementation Strategy].
2. Update the lifecycle state to Approved.

Upon completion, Vault sends a notification and:

• Copies existing Local Implementation Strategies from the Core Implementation Strategy in the Based On field of the initiating Core Implementation Strategy
• Creates new Local Implementation Strategies for any Country without an existing Local Implementation Strategy, provided the Country meets the following criteria:
  • A Local Implementation Strategy does not exist for the Country on the initiating Core Implementation Strategy
  • The Product Family on the Core Implementation Strategy has a Product Registration for the Country
  • The Country requires an RMP, as determined by the following logic:
    • If the Core RMP defined on the originating Core Implementation Strategy has no Core RMP Type value, Vault considers all Countries with an RMP Required value of RMP Required
    • If the Core RMP defined on the originating Core Implementation Strategy contains a Core RMP Type value, Vault considers all Countries indicated in its Covered Countries field
• Creates Local Risk Measures for each:
  • Core Risk Measure on the initiating Core Implementation Strategy
  • Local Risk Measure linked only to a previous Local Implementation Strategy version, also known as a local-only Local Risk Measure

Create a New Version of an Existing Core Implementation Strategy

To create a new version of an existing Core Implementation Strategy:

1. Navigate to Risk Management > Core Implementation Strategies > [Core Implementation Strategy].
2. Select All Actions > Copy to New Version.

Upon completion, Vault sends a notification and creates copies of:

• The initiating Core Implementation Strategy and copies its field values, unless otherwise indicated
• Each Core Risk Measure on the initiating Core Implementation Strategy

Create a Local Implementation Strategy

While Vault can create Local Implementation Strategies from a Core Implementation Strategy, you can manually create Local Implementation Strategies as required.

To manually create a Local Implementation Strategy:

1. Navigate to Risk Management > Local Implementation Strategies.
2. Select Create.
3. Complete the applicable fields, then select Save.

Upon successful creation of the Local Implementation Strategy, the following sections appear:

• Documents: Use this section to add any related documents using the Local Implementation Plan document classification.
• Local Risk Measures: Use this section to create Local Risk Measures relevant to the Local Implementation Strategy, as required.

Local Implementation Strategy Fields

The following fields may be available:

Field	Description
Name	Enter a name. For Local Implementation Strategies created by Vault from a Core Implementation Strategy, Vault populates the name of the initiating Core Implementation Strategy plus the Country. For subsequent Local Implementation Strategies, Vault populates the Name of the previous Local Implementation Strategy plus the date and time the record was created.
Market	Select the Country in which this implementation strategy applies. For Local Implementation Strategies created by Vault from a Core Implementation Strategy, Vault populates the relevant Country.
Product Family	Select the Product Family of the Product that this implementation strategy is for. For Local Implementation Strategies created either manually or by Vault from a Core Implementation Strategy, Vault populates the Product Family from the initiating Core Implementation Strategy.
Core RMP	Select the Core RMP related to this implementation strategy.
Core Implementation Strategy	Select the Core Implementation Strategy related to this implementation strategy. For Local Implementation Strategies created either manually or by Vault from a Core Implementation Strategy, Vault populates the initiating Core Implementation Strategy.
Based On	If applicable, select the previous implementation strategy on which this Core Implementation Strategy is based. For the initial version, leave this field blank. For Local Implementation Strategies created by Vault from an upversioned Core Implementation Strategy, Vault populates the copied Local Implementation Strategy from the prior version.
Local Implementation Plan	Select the Local Implementation Plan-classified document that describes the strategy for this implementation plan. For Local Implementation Strategies created either manually or by Vault from a Core Implementation Strategy, Vault populates the Local Implementation Plan document from the copied Local Implementation Strategy.
Version	Select the version of the Local Implementation Plan document.
Pre Launch Date	Enter the date by which this implementation strategy needs to be launched by selecting a date on the calendar or entering the date manually.
Actual Launch Date	Enter the actual launch date for this implementation strategy by selecting a date on the calendar or entering the date manually.