The following security settings must be set up in Salesforce to meet the requirements of using out-of-the- boxFinancial Services Cloud objects and components with minimal custom objects and private record sharing with managerial visibility:
Organization-wide sharing defaults should be set to meet sharing requirements for all objects in use.
Organization-wide sharing defaults are the baseline level of access that users have to records that they do not own or are not explicitly shared with them. You can use organization-wide sharing defaults to specify the default access level for each object, such as Public Read/Write, Public Read Only, or Private. You can also use organization-wide sharing defaults to enable or disable features such as grant access using hierarchies, external access, or external org-wide defaults.
The Role Hierarchy in setup should be configured toallow for managers to automatically see records of those under them. The Role Hierarchy is a structure that represents the levels of data visibility and access that users have in an organization based on their role or position. You can use the Role Hierarchy to define the roles and subordinates for each user and grant access to records owned by or shared with users below them in the hierarchy. You can also use the Role Hierarchy to control the visibility of dashboards, reports, and territories.
Custom permission sets and out-of-the-box FSC permission sets should be configured or updated and assigned to all users for the use of FSC components and field-level security. Permission sets are a collection of settings and permissions that give users access to various tools and functions in Salesforce. You can use permission sets to grant additional permissions or access levels to users without changing their profile. You can also use permission sets to control the field-level security for each object and field, which determines whether users can view, edit, or delete data in those fields. Financial Services Cloud provides several out-of- the-box permission sets that grant access to FSC components and features, such as Action Plans, Financial Accounts, or RelationshipGroups. You can also create custom permission sets to meet your specific business needs. Verified References: : Salesforce Help Article 1 : Salesforce Help Article 2 : Salesforce Help Article 3