Opening New Accounts Part II: Business Accounts
This is part II of a three-part series to be held on November 1, 2, and 3. The price below is just for part II.
This two-hour webinar examines the documentation requirements on business entities available in most states and clarifies how to identify who has the authority to open and transact on behalf of the entity.
Whether because of the complexity or the lack of frequency, opening business accounts seems to create the most angst for many bankers. Seminar participants gain confidence and a clear understanding of the regulatory, compliance, and overall documentation requirements for opening business accounts. With over 50 years of experience, Suzie Jones has a reputation for empowering new account representatives with the skills and tools to protect their organization while, at the same time, focusing on providing quality customer service.
Con artists look for weaknesses in new account processes, especially when opening a business account. With complex business structures emerging, training is paramount to maintain diligence and update processes and procedures. This program is one of the most comprehensive seminars on opening new deposit accounts in the country. Suzie Jones, CFP®, who, with over 50 years of experience opening new accounts, managing, and leading successful new account teams, addresses the risks and provides solutions when opening business accounts! You will leave this session with a clear understanding of who has the legal authority to open simple and complex business accounts and with the tools to protect your bank!
What You’ll Learn
- Who has the legal right to represent each business structure?
- External documentation – County and Secretary of State
- When must a bank require a partnership agreement, operating agreement, minutes, or bylaws?
- Which business structures are required to obtain an EIN, and which may use an SSN?
- Sole Proprietorships | General Partnerships (GP) | Limited Partnerships (LTD) | Limited Liability Partnerships (LLP) | Limited Liability Limited Partnerships (LLLP) | Limited Liability Company (LLC) and Series LLC (LLC/SLLC) | Profit and Non-Profit Corporations
- Process for removing an owner or non-owner as a signer on a business account
- Who can access a business account at the death of a business owner or authorized signer?
- Documenting complex business structures (Business Owned By Other Businesses)
Who Should Attend?
Customer contact personnel, supervisors, and officers whose responsibilities include opening or managing new accounts. Personal Bankers, BSA Officers, Deposit Operations, Branch Administration, CIP Managers, Training and Business Development Officers, Internal Auditors, and Compliance Officers will find the information extremely beneficial. Lending assistants and officers will find the information informative, and at least 85% of this information also impacts the lending area.
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.
- 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