About task expiry dates
Use task expiry dates to ensure product application tasks are re-evaluated regularly.
You can configure a task with a default expiry period so that when a version of it is passed, it remains valid for a specified number of days before expiring. The expiry period must be at least 60 days.
To see a version of a task, select the button. Note that this button is only displayed when a task has other versions. To learn more, see About Maxsight's tasks.
By default, a new task version is created 30 days before the task version expires. You can change this task notification period, which is applied to current and new task versions.
When the current task version is nearing expiry, product applications that require the task use the next version. For approved product applications, this means the product application goes into review and the new task version must be passed for the product application to be re-approved.
For example, if you configure the Verify identity task so its versions expire 365 days after they’re passed, a new task version is created after 335 days and customers must have their identities successfully re-verified for their product applications to be re-approved.
If the task is a Custom task, you can specify that the first instance of the task is skipped. In this case, the task is only displayed on the profile for the first time 30 days before the expiry date is reached. To learn more about how this works, see How skipping the first task version impacts tasks.
If you're using Risk, you can configure different expiry dates for each product application risk level. To enable the Enable risk based expiry period configuration option, contact us.
There are some tasks that expire when changes are detected rather than after a number of days. PEPs, sanctions, and adverse media tasks expire automatically when the decision to reject/cancel a product application is reverted. Tasks that have a Company data check configured with Creditsafe monitoring also expire automatically when new data is returned from Creditsafe.
How task expiry dates are calculated
A task version’s expiry date is set as soon as the version has been passed.
It’s calculated as the date the current version is passed plus the number of days specified in the task’s configuration.
For example, if a version of the Verify identity task is passed on 1 January 2025 and the task versions are configured to expire after 365 days, that version will expire on 1 January 2026.
The expiry date is calculated from the date the task is Passed, not the date the product application is Approved. In the previous example, even if the product application is approved a week later on 8 January 2025, the Verify identity task expires on 1 January 2026 because it was passed 365 days earlier.
How skipping the first task version impacts tasks
If the task is a Custom task, you can specify that the first instance of the task is skipped.
This means the behavior of the first version is slightly different from other versions.
When the smart policy adds the task to the profile, the following happens:
The task is not displayed on product applications that use the task, so users cannot see it.
The task status of this hidden version is set to Passed.
The expiry date begins counting down immediately.
30 days before the first expiry date is reached, the following happens:
The task is displayed on the product applications that use the task for the first time with two versions: the first version and the new version.
The first version of the task is displayed as nearing expiry. A banner on the version indicates when it will expire. It is not possible to run checks or change the status.
A new version of the task is displayed as incomplete. Checks can be run on this version and the status can be changed to Passed or Failed.
Every subsequent version is displayed and expires as normal.
For example, you could configure a Custom task called "1 Year Review" and specify that its versions expire 365 days after they’re passed and the first version should be skipped. With this configuration, the "1 Year Review" task wouldn't need to be completed when the task is first added, but it must be completed at the end of the task's first year and every year after that.
You can configure custom tasks to use risk-based expiry periods. Note that if the custom task passes when the risk is undetermined, Maxsight uses the default task expiry period. If the risk score is calculated later, Maxsight resets the expiry period for existing tasks to whichever is the shorter period: the expiry period for the new risk level or the default task expiry period.
How changing a task expiry date impacts tasks
When a task expiry date is added or changed, it can be applied to tasks on existing profiles for several reasons. As an example, it will be applied if any of the following changes on the profile:
Any task is added to or removed from the profile.
The product application status changes. For example, this can happen when a new event is added to a profile via a PEPs, sanctions, or adverse media check, which then puts the product application into Review.
The product application risk level changes. Note that the expiry date will be recalculated, even when the task expiry date is not using the Risk based expiry period configuration option.
When the task expiry date is changed, Maxsight resets the expiry period for existing tasks to whichever is shorter between the current and new expiry periods, to avoid missed task expiry dates. For example, if a task was originally set to expire every 30 days and it's changed to expire every 365 days, the expiry period for existing tasks will continue to be every 30 days because this is the shortest period. Only new tasks will expire every 365 days.
When you add an expiry period to a task that was created without a task expiry period, this expiry period is applied to the task from the date the task was completed. Therefore, it's possible for the expiry date to be prior to the current date, which instantly expires the task and puts the application back into review.
If the expiry date is removed from a task, any tasks created before the change will continue to expire based on the previous settings.