Data overrides can be used as a temporary fix to ensure a high quality of input data before the positions file is amended permanently. However, data overrides are very powerful and must be managed carefully.
Override Overpopulation
Using overrides as a permanent solution can result in an excess of overrides which makes internal audits difficult as users can easily lose track of them. Additionally, having too many overrides in place can end up altering the input file so much that it is hard to recognize. This article lists methods and best practices to mitigate this.
Best Practices for Override Management
1. Creating an Expiry Date for each override ensures that the overrides are used as a temporary measure. And should the data issue not have been resolved, the user will be prompted to investigate when the expiry date is exceeded.
2. Filling in the Notes section of overrides is highly useful because it allows you to track your audit trail as well as affected assets/instruments. The reason for setting up the override should always be entered in the Notes section. Furthermore, filling in this section will allow you to filter overrides on the main override page.
3. Using the Last NAV Date shows the latest NAV date when the override was applied and can also be used to keep track of overrides and prevent them from piling up. Filtering by Last NAV Date is also possible and makes it easy to get a quick overview of which override should potentially be deleted as they might not have been used for a period of time.
4. Monthly Reviews of all your overrides is highly recommended can minimize the chances of accumulating them unnecessarily. Points 1, 2, and 3 can be used as guidelines for action points during the review.
Bulk Editing Overrides
In addition to manually adding and removing overrides, users can also edit them in bulk.
1. Within the overrides page, click the "Download" button on the upper right side of the page to export a CSV of existing overrides. Ensure the View is set to the proper status if only editing specific overrides (e.g. Active, Deactivated, etc.).
2. Next, make the necessary edits within the CSV file or add overrides as needed. Some important tips:
When creating new overrides, the "BundleId" column should be left blank. If BundleId is populated, that will update an existing override instead of creating a new one.
To deactivate an existing override, update the "IsActive" column to "FALSE". If set to "TRUE", the override will be active.
For columns with dates, they need to be reformatted to yyyy-mm-dd type. This can be done by highlighting the entire column, right-clicking and selecting "Format Cells" and choosing "Date" from the "Number" tab.
3. Once the edits are ready, save & click the "Upload" button on the upper right side of the page to re-upload the amended file into FundApps.