Scheduled Job Notification
Does MII (12.0.4) provide any notification (email, alert, etc) when a scheduled job does not complete for some reason or does such notification need to be written into the underlying transaction?
you need to track errors in your transaction, as Jamie said. Then you can for example send an email to the user to indicate the error. If you also use the terminate transaction action with the flag TerminateWithError set to true, the job will be marked as failed in the log. So you will be able to see the failed jobs in your scheduler log.