Accelerated induction process – Super. Stream Contributions APRA funds information session Presented by Colleen Gibson Australian Taxation Office 13 October 2014
Process overview n Accelerated induction process runs from 3 November 2014 to 5 December 2014 – number of players, transaction volumes and tempo are higher than for Wave 1 n A fund must nominate at least one product (USI) per unique registry/administration system to commence – designed to minimise processing volumes where possible – a fund can nominate more than one USI if they choose n Cross-certification will be provided when: – contributions have been successfully received from at least two unique Super. Stream messaging sources (employer sending solutions) § – on the condition these messages have traversed 2 or more sending gateways the receiving fund has allocated monies from these employers to a relevant members’ account within 3 days of receipt n It is anticipated many funds will be able to complete the accelerated induction process within the first 3 to 5 days of the period – some with lower or sporadic volumes will take longer. Super Stream 2
What to expect n Receiving funds in accelerated induction: – 137 receiving funds – 567 USIs n Sending sources in accelerated induction: – three or four clearing houses (ADP unlikely to join until late November) – key payroll houses: Attache, Sage Micropay, Frontier, MYOB, Landmark – many thousands of employers and growing progressively with onboarding activity of funds and intermediaries n Contribution messages and payments arriving from 3 November: – overall volumes likely to be in the 5 -10, 000 contributions p. w. range – smaller funds may experience daily volumes in the 0 -50 range – larger funds may experience volumes in the many hundreds range – large administrators may experience volumes in the thousands. Super Stream 3
What do I need to do to get ready? Ø Refer induction checklist: www. softwaredevelopers. ato. gov. au 1. Induction pre-briefing 2. Third party certification 3. End-to-end testing 4. Business readiness check 5. Confirmation of FVS details (including USI staging) 6. Confirmation of production state ready 7. Contingency plan 8. Nominated contact persons NOTE: Work with your nominated ATO induction relationship manager to ensure you have these steps covered. Super Stream 4
Testing and certification Here’s some clarification on testing requirements for accelerated induction: Activity Who Result 1. Function & integration testing Responsible entity Satisfy internal testing requirements 2. Conformance testing Responsible entity Third party certification 3. End-to-end testing Sending/receiving solution with 2 partners* Meets induction entry criteria 4. Induction Sending/receiving solution with cohort group# Cross-certification * Where a fund is using a receiving solution which has already completed this step, it does not need to be repeated! All we want to see is assurance that last mile hop has been tested with message solution. Super Stream Where a fund is using a receiving solution which has already completed this step, it does not need to be repeated! All we want to see is two days of data/money reconciliation in admin solution. # 5
What do I need to do once induction starts? 1. Ensure you are ready to go on 3 November 2. Process your first Super. Stream contributions! 3. Deal with any issues/errors 4. Remediate any systems or process issues (based on business priority) 5. Reconcile transactions processed against those received daily with your gateway 6. Complete the reporting template and send to ATO Nerve Centre (for at least two days of received transactions) Super Stream 6
Working with the ATO n We have put in place some steps to help everyone get organised for Day 1: – Letter sent to APRA fund trustees providing notification of the accelerated induction process (2 October 2014) – Email sent to administrators/project teams advising of information needed to assist on induction organisation (7/8 October 2014) – We now need your response by no later than 15 October – Work with your new induction relationship manager n The information required: – nominating a lead-in USI that will be receiving contributions from 3 November – gateways/clearing house used – registry system used – confirmation that all USI’s accept contributions (per the ATO spreadsheet sent to you) – amending any missing or incorrect information. Super Stream 7
Obtaining cross-certification n Funds must complete the transaction reporting template for their nominated USIs and return same to the ATO showing contributions for two separate processing days n After receiving your completed reporting template, we will follow-up any issues and confirm cross certification via email n After receiving cross certification, you must update the Fund Validation Service with your cross-certification status as soon as possible : – provided you are comfortable handling volumes – generally with 2 -4 weeks of starting induction – this means updating the FVS for all relevant USI’s in Wave 2, though they may be staggered a little as you ramp up. Super Stream 8
What if something goes wrong? n Document and anticipate – in advance - likely failure points or processing issues n Follow a structured issue resolution process during induction: § Good diagnosis must precede any response § Understand in advance who is in your ‘value chain’ § Engage relevant service partners in issue resolution § Communicate with sender (phone, email, face to face) n Remediate any problems at source (if possible) or put ‘work around’ in place n Report major unresolved issues to your ATO relationship manager n What if problem continues and prevents contribution processing being finalised? – Your contingency plan should address this! – Possibilities include freeze, rollback and/or switch to manual processes (there may be others). Super Stream 9
Who can help? n Your administrator or service provider n Your nominated ATO induction relationship manager n Your industry peers who have relevant experience. Super Stream 10
Further information n Refer to the contributions induction and accelerated induction documents on www. ato. gov. au/Super. Stream n Contact your nominated accelerated induction relationship manager – n details were included in an email sent last week with your USI listing Questions? © COMMONWEALTH OF AUSTRALIA 2014 This presentation was current in October 2014 Super Stream 11
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