This question is not about whether Catholics think salvation is a process or a one time thing, it is more nuanced than that.
I am looking for precise theological interpretations of Christ's redemptive work but not so much its relation to us if that makes sense. For example the dominant view in Protestantism is Penal Substitionary Atonement which teaches for instance that the Father poured his wrath on the Son. I am looking for the official view of the Catholic Church and it would be well appreciated if the answer includes elements like whether or not thi view has always been the official one and if it is elevated to the level of dogma rather than merely an encouraged interpretation of dogma.
A brief explanation of the characteristics of the view is also necessary to have one's answer validated.