Opening New Accounts: Part I Personal/Consumer Accounts
This is part I of a three part series to be held on November 1, 2, and 3. The price below is just for part I.
Well-trained bankers who recognize and stop attempted dishonest activity are the first line of defense in protecting a financial institution from fraudsters. Unfortunately, new account personnel are too often trained “on the job,” which results in an environment of potential vulnerability and unnecessary losses for the bank. This comprehensive training focuses on providing new and experienced bankers with the knowledge and tools needed to protect the bank when opening personal and consumer accounts.
This two-hour workshop focuses on the risks, procedures, best practices, and compliance requirements for opening Personal and Consumer Accounts.
Opening new accounts is complicated! With fraudulent activity at an all-time high and ongoing onerous regulatory oversight and scrutiny, the need for new account training is paramount to maintain diligence and update processes and procedures. This two-hour workshop, Part I of a three-part series, focuses on the risks, procedures, best practices, and compliance requirements for opening Personal and Consumer Accounts. Attendees will gain an understanding of proper documentation requirements, ownership options, the impact of account ownership options on estate planning, proper account titling, and who has the authority to open and transact on the account during a lifetime, and at the death of a signer. Part II of this three-part series encompasses Business Accounts, and Part III addresses Trust and Fiduciary Accounts.
What You’ll Learn
- Customer Identification Program (CIP) Requirements
- Comparison with Government Lists (OFAC)
- W-9 IRS SSN/ITIN Certification
- New IRS W-8BEN FTIN (Foreign Tax Identification Number)
- Single-Party and Multiple-Party Ownership
- With Right of Survivorship vs. Without Right of Survivorship
- Adding an Authorized Signer Designation
- Understanding Power of Attorney Arrangements
Who Should Attend?
Operations officers, compliance officers, new and experienced new account representatives, new accounts supervisors, branch managers, trainers, and auditors need this course. Back office personnel who support the deposit account area will also find this seminar beneficial. At least 85% of this information also impacts the lending area.
Presenter
With over 40 years of banking experience, Suzie Jones has a reputation as being extremely knowledgeable and high-energy with a unique ability to take technical information and make it interesting and applicable. After 22 years, Jones recently retired as an Executive Vice President from a large regional bank where she provided overall leadership and risk management to the $11B Investments Division. For decades, Jones opened new accounts, managed new account teams, and provided hands-on input and leadership to the AML and BSA Committees within the bank. Jones has a passion for sharing technical knowledge and lessons learned to provide risk management and promote excellence in the workplace. She partners nationally with individual banks, credit unions, private companies, small boutique firms, and provides training for 13 state bank associations.
Registration Options
- Live Access, 30 Days OnDemand Playback, Presenter Materials and Handouts – $279
- Available Upgrades:
- 12 Months OnDemand Playback + $110
- 12 Months OnDemand Playback + CD + $140
- Additional Live Access + $85 per person
