What is Monitor?
Monitor is a continuous monitoring software solution that provides secure, flexible and quick notification to prevent fraud, enhance business efficiencies and maintain compliance with the institute’s policies.
How does Monitor work?
Monitor uses database queries based on the current P-Card polices of the Institute to analyze data that is provided by Bank of America to identify questionable transactions.
Who will use Monitor?
Monitor is used by the staff members responsible for reviewing and reconciling P-card statements. The system will use two people to complete the process; the Reviewer and Closer in each department. This allows there to be two sets of eyes on all questionable P-card transactions.
Do P-card holders still need to keep their receipts?
Yes, the P-card holders need to keep their receipts as defined by current Institute policy.
What does the Reviewer do?
The Reviewer is the first set of eyes to review any questionable transaction items flagged by the system. Once the Reviewer reviews the item they then contact the P-card holder for further information and documentation to address the questionable transaction item. Once the item has been resolved properly they will then escalate it the Closer.
What does the Closer do?
The Closer is the final set of eyes to review questionable transaction items. Once the Reviewer has done the research and attached the appropriate documentation to the item, they will escalate the item to the Closer. Once the Closer receives the item, they will take a final look at the justification comments and supporting documentation to determine if the documentation is acceptable or needs further information. If the comments and documentation is sufficient, then, the Closer will close the item. If the Closer feels the item needs further support, they will send it back to the Reviewer for further research.
How often do the Reviewer and/or Closer need to sign in and check for questionable transactions items?
Any time there is a questionable transaction item the system will send an email notification to the reviewer. The reviewer then has 10 business days to review and send the issue to the closer.
What if the Reviewer and Closer are unable to close a questionable transaction item?
Should there be an item that cannot be resolved by the Reviewer and/or the Closer, the questionable transaction item will be escalated to the Department of Internal Auditing for further review.
If I have questions about the system or if I need technical support who do I contact?
You can always reach out to the Department of Internal Auditing via email (firstname.lastname@example.org) or you may call the main office at 404-894-9480.