Developing Realistic Retention Schedules by Fred V. Diers CRM

Developing Realistic Retention Schedules by Fred V. Diers CRM FAI Entium Technology Partners LLC www.entium.com www.entium.com RECORDS& INFORMATIONMANAGEMENT • Review and approval cycles are • • • burdensome Paper based No consistency in naming conventions No consistency in retention policies Focus on back end of the process There Is a Better Way! • RECORDS& INFORMATIONMANAGEMENT • Department and/or functional review and approval • Legal and tax review and approval • Constant updates and revisions due to: – Organizational changes – Regulation changes – Management changes Current Review and Approval Cycles RECORDS& INFORMATIONMANAGEMENT Naming Conventions & Indexing Standards • • • • • Localized records definitions Varying file / content organization Technology and media changes Missing standards Developing file plans rather than record series RECORDS& INFORMATIONMANAGEMENT Retention Policy Applications • • • • Relying on third party data Applying generic retention policies Looking beyond retention Focusing on records rather than products and services Researching domestic vs.. International • RECORDS& INFORMATIONMANAGEMENT Defining Program Purpose • Fundamental program objectives: – – – – – Protecting the organization Setting accession standards Identifying ownership Reducing information volumes Supporting the mission statement RECORDS& INFORMATIONMANAGEMENT Defining Program Purpose • New program objectives – – – – – – A high level reference tool An easy access system Copy and revision control Media independent Flexibility Easy-to-use and understand RECORDS& INFORMATIONMANAGEMENT Defining Program Purpose • Hard questions to ask – – – – – Does the program cover all information assets? Does the program create undo burden? Is only inactive records the focus? Is standard nomenclature used? Does the program protect information assets? RECORDS& INFORMATIONMANAGEMENT A Three Step Program Approach • Data collection and standards development • Regulatory research and compliance auditing • Program implementation and training RECORDS& INFORMATIONMANAGEMENT Data Collection Addresses: • Existing document types created, received and retained IT systems and storage devices Data and document duplication and distribution Information sharing Information identification and definition • • • • RECORDS& INFORMATIONMANAGEMENT How Is Data Collected? • • • • • Interviews Surveys Physical inventories All of the above None of the above RECORDS& INFORMATIONMANAGEMENT Interview Preparation • Understand organization • • structure Collect manager lists Collect direct responsibility list Read internal and external information Understand system architecture • • RECORDS& INFORMATIONMANAGEMENT Survey Questions • • • • • • • Describe document handling processes Describe opportunities for improvement What is the impact of technology? What information is used and requested? What documents are shared? What controls impact documents? What are the obstacles? RECORDS& INFORMATIONMANAGEMENT Physical Inventories Address • • • • • Paper files Hard drive and server files E-mail, voice mail and web portals Optical and microfilm storage Inactive storage RECORDS& INFORMATIONMANAGEMENT The Master Classification Plan The MCP Sets High Level Indexing and Naming Convention Standards for Both Electronic and Print Files RECORDS& INFORMATIONMANAGEMENT MCP Data Fields Include: • • • • • • Classification code Document classification description Classification definition Media identification Protection identification Document ownership RECORDS& INFORMATIONMANAGEMENT S A M P L E C O M P A N Y , IN C . S U M M A R Y M A S T E R C L A S S IF IC A T IO N P L A N R eco rd C la ssifica tio n D es crip tio n R eco rd D esig n a tio n V ita l/ H isto rica l O ffice o f R eco rd C ode M ed ia 01 A ccou n tin g / C ash C on trol 0 1 -34 4 A cco u n t R eco n ciliatio n , S ch ed u les, an d S up p o rting W o rk -p ap ers A cco u n ts P ay ab le Inv o ices, R eco rd s an d R epo rt P ap er, E lectro n ic, M icro film F in an cial R ep o rting ; F in an ce; P ay ro ll P ay ab les 0 1 -11 7 P ap er, E lectro n ic, M icro film 0 1 -35 1 A cco u n ts R eceiv ab le R eco rd s P ap er, E lectro n ic, M icro film V ital F in an cial R ep o rting 0 1 -35 2 B an k S tatem en ts / B ank R econ c iliatio n P ap er, E lectro n ic, M icro film P ay ab les; F in an cial R ep o rtin g; P ay ro ll A cco u n tin g ; B u sin ess D ev elo p m en t 0 1 -35 9 C ash R epo rts an d R eco rd s P ap er, E lectro n ic, M icro film 0 1 -06 3 0 1 -21 5 0 1 -06 5 0 1 -31 3 0 1 -31 8 0 1 -10 3 C h eck s, C an celed and V o id F in an cial an d A cco un tin g In form atio n Jo u rn al E n tries and S u p po rting D o cu m en tation L ed g ers L etters o f C red it T rav el an d L iv in g E x p en se R ep o rts P ap er, E lectro n ic P ap er, E lectro n ic P ap er, E lectro n ic P ap er, E lectro n ic P ap er, E lectro n ic P ap er, E lectro n ic P ay ab les F in an ce P ay ab les; P ay ro ll F in an ce; P ay ab les L eg al; F in an ce P ay ab les RECORDS& INFORMATIONMANAGEMENT Conduct Regulatory Research By: • Understanding the organization’s products and services Determining external issues impacting the business Ascertaining states and countries the organization conducts business • • RECORDS& INFORMATIONMANAGEMENT Original Domestic Regulatory Resources Include: • • • • • Federal Statutes Code of Federal Regulations Regulatory agency publications State Statutes and Administrative Code State commission publications (State Insurance, State Banking, etc.) RECORDS& INFORMATIONMANAGEMENT Original International Regulatory Resources Include: • • • • • Country Rules and Orders Provincial Regulations City/State rules Super-National Regulations (EU, Far Eastern Trade Alliance, etc.) Local Professional Association publications RECORDS& INFORMATIONMANAGEMENT Original Regulatory Research On-line Resources • • • • West-law Federal Statutes and CFR Web-sites State Web-sites Lexis- Nexus RECORDS& INFORMATIONMANAGEMENT • Retention periods specified by the Regulatory Research Process Includes: impacted record Reporting requirements for the impacted record Event code analysis • • RECORDS& INFORMATIONMANAGEMENT Regulatory Guideline Matrix The RGM Codifies Actual Retention and Reporting Guidelines in a Reference Document for the Organization’s Use. This in Not the Retention Schedule! RECORDS& INFORMATIONMANAGEMENT R E G U LA TO R Y G U ID E LIN E M A TR IX S A M P LE C O M P A N Y , IN C . S O U R C E : U n ited S ta tes C o d e A lien s and N atio n ality ; Im m ig r atio n an d N atu ralization s; Im m ig ratio n ; G en eral p en alty p ro v isio n s; U n law fu l em p lo ym en t o f alien s; E m p lo y m en t v erificatio n sy stem ; R eten tio n o f v erificatio n form S O U R C E / T IT L E : U n ited S ta tes C o d e 8 C IT A T IO N / R E N T E N T IO N : 8 U . S .C . 1 3 24 a(b )(3 )(B ) IM P A C T E D IN D U S T R IE S : G en eral L o n g er o f H ire d ate p lu s 3 y ears o r T erm in ation p lu s 1 y ear IM P A C T E D R E C O R D S : C itizen sh ip v erificatio n fo rm Q U O T A T IO N : (B ) In th e case of th e h irin g of an in d iv id u al (I) th ree y ears after th e d ate o f su ch h irin g , o r (ii) o n e y ear after th e d ate th e in d iv id u al’s em p lo y m en t is term in ated , w h ich ev er is later… S O U R C E / T IT L E : U n ited S ta tes C o d e 15 C IT A T IO N / R E N T E N T IO N : 1 5 U .S .C . 1 0 58 (a) IM P A C T E D R E C O R D S : T rad e M ark reg istratio n Q U O T A T IO N : E ach certificate o f reg istratio n sh all rem ain in fo rce fo r ten years C o m m erce an d T rad e; T rad e-m ark ; T h e prin cip al reg ister; D u ratio n o f reg istratio n ; A ffid av it o f con tin u ing u se IM P A C T E D IN D U S T R IE S : G en eral RECORDS& INFORMATIONMANAGEMENT • Master Records Retention Schedule includes: Creation of the Retention Schedules – The combination of the MCP with responsive citations from the RGM • Departmental Retention Schedules are: – Extracted from the Master schedule using organizational tables RECORDS& INFORMATIONMANAGEMENT S A M P LE C O M P A N Y , IN C . M A S TE R R E C O R D S R E TEN TIO N S C H E D U LE R ecord C la ssifica tio n C ode R eco rd S eries S p ecia l In stru ctio n s (a s a p p licab le) R eco rd D esig n a tio n (M edia T yp e & V ita l/H isto rica l) P ap er, E lectro n ic, M icro film W o rkin g C o p y O ffice o f R eco rd R eten tio n P o licy R eco rd C o p y R esp o n sive C ita tio n(s) 0 1 A cco u n tin g / C a sh C o n tro l 0 1 -34 4 A cco u n t R eco n ciliatio n , S ch ed u les, an d S u p p o rting W ork -p ap ers 1 2 M o n th s F in an cial R ep o rting ; F in an ce; P ay ro ll 6 Y ears + T ax A g en cy C learan ce 0 1 -11 7 A cco u n ts P ay ab le Inv o ices, R eco rd s an d R ep o rts P ap er, E lectro n ic, M icro film 1 2 M o n th s P ay ab les 6 Y ears + T ax A g en cy C learan ce 0 1 -35 1 A cco u n ts R eceiv ab le R eco rd s T h e O rig in als o r O fficial V ersio n s o f V ital R eco rd s sh o u ld b e du p licated an d eith er b e d issem in ated to an o th er lo catio n o r retain ed in an o ff-site v au lt fo r th e reten tio n p erio d sp ecified. V ital d ata an d d o cu m en ts are co n sid ered n e cessary to th e resu m p tio n o f b u sin ess in th e v en t o f a n atu ral or m an -cau sed d isaster. P ap er, E lectro n ic, M icro film 1 2 M o n th s F in an cial R ep o rting 6 Y ears + T ax A g en cy C learan ce 2 6 C F R 1 .6 00 1 -1 (e) R ev en u e P ro ced u re 9 8 -2 5 .0 5.0 1(1 ) R ev en u e P ro ced u re 9 8 -2 5 .0 5.0 3 R ev en u e R u ling 71 2 0 (5 0 ) 2 6 C F R 1 .6 00 1 -1 (e) R ev en u e P ro ced u re 9 8 -2 5 .0 5.0 1(1 ) R ev en u e P ro ced u re 9 8 -2 5 .0 5.0 3 R ev en u e R u ling 71 2 0 (5 0 ) 2 6 C F R 1 .6 00 1 -1 (e) R ev en u e P ro ced u re 9 8 -2 5 .0 50 1 (1 ) R ev en u e P ro ced u re 9 8 -2 5 .0 5.0 3 R ev en u e R u ling 71 2 0 (5 0 ) V ital RECORDS& INFORMATIONMANAGEMENT S A M P LE C O M P A N Y , IN C . D E P A R TM E N TA L R E C O R D S R E TE N TIO N S C H E D U LE FO R : R eco rd s C lassifica tio n D escrip tio n In cludin g C ode R eco rd T y p es M ed ia T yp e 0 1 A cco u n tin g / C a sh C o n tro l 0 1 -11 7 A ccou n ts P ay ab le Invo ices, R eco rd s an d R ep o rts A cco u n ts P ay ab le O p en Item P ap er, O rig in al In fo rm atio n E lectro n ic, M icro film A cco u n ts P ay ab le S u p po rtin g P ap er, O rig in al D o cu m en tatio n E lectro n ic, M icro film A cco u n ts P ay ab les – B atch R u n s P ap er, O rig in al E lectro n ic, M icro film A p p ro priatio n R eq u est A p p rov als P ap er, O rig in al E lectro n ic, M icro film In v o ices P ap er, C op y E lectro n ic P ay ro ll In vo ices P ap er, O rig in al E lectro n ic 0 1 -35 1 A ccou n ts R eceiv ab le R eco rd s A cco u n ts R eceiv ab le P ap er, O rig in al E lectro n ic S p ecial In stru ctio n s R eten tio n P o licy In activ e O ffice S to rag e R eco rd O w n ersh ip O ffice o f R etentio n R eco rd P o licy D estro y 1 2 M o n th s 5 Y ears 1 2 M o n th s 5 Y ears 1 2 M o n th s 5 Y ears 1 2 M o n th s 5 Y ears 1 2 M o n th s 1 2 M o n th s 5 Y ears 5 Y ears 6 Y ears + T ax A g en cy C learan ce 6 Y ears + T ax A g en cy C learan ce 6 Y ears + T ax A g en cy C learan ce 6 Y ears + T ax A g en cy C learan ce 1 2 M o n th s 6 Y ears + T ax A g en cy C learan ce 6 Y ears + T ax A g en cy C learan ce 6 Y ears + T ax A g en cy C learan ce O rig in atin g D ep artm en t O rig in atin g D ep artm en t P ay ab les P ay ab les P ay ab les P ay ro ll 6 Y ears + T ax A g en cy C learan ce A cco u n ts R eceiv ab le A n aly sis P ap er, O rig in al E lectro n ic A V ital R eco rd – S ee N o tes # 1 A V ital R eco rd – S ee N o tes # 1 1 2 M o n th s 5 Y ears A cco u n tin g 1 2 M o n th s 5 Y ears F in an cial R ep o rting RECORDS& INFORMATIONMANAGEMENT Program Implementation • Train selected staff on new program processes • Market program through the organization’s • • intranet Develop program audits Update the master schedule annually RECORDS& INFORMATIONMANAGEMENT Questions RECORDS& INFORMATIONMANAGEMENT . . . at the convergence of connectivity, systems, and knowledge RECORDS& INFORMATIONMANAGEMENT Contacts for Entium Technology Partners, LLC • Sales and Marketing – – – – Don Burt – Director 610.415.7207 – office 610.213.3744 dburt@entium.com • Network Solutions – – – – George Broadbent – Director 610.415.7216 – office 610.247.0899 – cell gbroadbent@entium.com • Records and Information Management – – – – Fred Diers – Principal 610.415.7227 – office 610.212.9412 – cell fdiers@entium.com • Geo-database Solutions – – – – Joe Spollen – Director 610.415.7218 – office 610.213.9606 – cell jspollen@entium.com • Technology Solutions Document Management, Application Development, Content Management, Web Development – William R. Anderson, Jr. (Bill) – Principal – 610.415.7203 – office – 610.716.0770 – cell – banderson@entium.com • Entium Technology Partners, LLC – 610.415.7200 - main – 610.415.7222 – fax – www.entium.com 1288 Valley Forge Road Suite 50, P.O. Box 904 Valley Forge, PA 19482-0904