Opening New Accounts: Business Accounts
|Date / Time:
Managing risk is the #1 priority for all financial institutions and it all starts at the new account desk. Well-trained bankers who can recognize and stop attempted dishonest activity are the first line of defense in protecting a financial institution. Unfortunately, too often, new account personnel are trained "on the job" which results in an environment of potential vulnerability and unnecessary losses. This risk is magnified when dealing with business accounts. When opening a commercial account, verifying if a business entity is legal and who is authorized to transact business on behalf of that entity is crucial. In this two hour webinar, we will investigate the types of business entities available in most states and clarify who has authority to open the account and ultimately sign the resolutions.
We highly recommend you have a copy of your financial institution's account agreement/signature card and resolutions nearby to follow along during the session. To customize it to your state law, you may also want to view your Secretary of State website to access information on forming business structures in your home state.
Who Should Attend?
- Understanding signature card contracts and proper account opening procedures for each type of business
- Why are there so many business entities available?
- Understanding risk from the business client's perspective
- Which businesses need to obtain an EIN?
- Are business signers subject to OFAC and CIP requirements?
- Sole Proprietorships
- General, Limited, and Limited Liability Partnerships
- Limited Liability Limited Partnerships (LLLP)
- Limited Liability Company (LLC/SLLC)
- Nonprofit associations and charitable organizations
- Interest on lawyer accounts
- Public or governmental units
- Detailed explanation of business resolutions (have a copy of your financial institution's resolution available during the training session)
- Access after the death of a business account signer
- FinCEN - New customer due diligence effective 2018
All customer contact personnel, supervisors and officers whose responsibilities include opening or managing new accounts and certificates of deposit. Excellent for supervisors or officers who have authority to "waive" documentation requirements. Internal Auditors and Compliance Officers will find the information exceptionally beneficial as well.
About The Presenter
Suzette (Suzie) Jones, CFP® is an associate trainer for Sunwest Training Corp. With 40 years of experience in the financial industry, Suzie most recently served as an Executive Vice President with an $11B financial organization where she was an active member of the AML, BSA, Personal/Corporate Risk and Non-Bank Product Risk committees. Suzie has focused her career on technical expertise in the areas of new accounts risk management, IRAs, qualified retirement accounts and investments. Suzie brings technical information to life with her engaging training style and in-depth knowledge. She holds the Certified Financial Planner (CFP®) professional designation.
Cannot Attend The Live Presentation?
This presentation is also available in a recorded format, in On-Demand Or CD versions, as shown in the pricing options below.
|About Webcasts / Audio Conferences / Podcasts:|
Webcasts, audio conferences, and podcasts are presentations that you
attend via the Internet, phone, or mobile device at a specified date and time for "live" versions, or at your convenience for "recorded" and "On-Demand" versions.
versions are interactive, meaning that participants can ask questions in real time, plus are a very cost-effective form of training because 1) you receive fast, convenient learning without
any out-of-office time; 2) you can invite as many colleagues as you'd like to listen in on a single phone line; 3) you incur no travel expenses; and 4) you and your colleagues are back
at work immediately after the session ends!
And though with recorded versions you do lose the ability to ask questions, you gain the ability to hear the presentation numerous
times and to share it with others in your office.
Handout materials and the phone number for live presentations are made available to you prior to the event via email from the
presenter and from the "MyAccount" link on the menu bar. Copies of the presentations are included with recorded versions.
|Licenses / Designations / Educational Credits:||CEU|
All US States: 2.5
All Canadian Provinces: 2.5
|About The Provider:
||Since 1983 Total Training Solutions has produced dozens of videotapes, CD-Roms, DVD's and web-based training modules. In addition to off-the-shelf products, Total Training Solutions also develops custom training products and consults with financial institutions to develop their own training curriculum.
For timely delivery of training topics, webinars or web conferencing is an unbeatable option. We now offer over 100 live programs per year and you can even purchase the recorded or ondemand session if you are unable to attend the live program.
We have worked exclusively with the financial industry since our founding. Because of this, we understand the needs of training departments in financial institutions and are alert to changes which affect the industry.
Attend the live session with the opportunity to ask questions to the presenter. You also receive a link to the handouts. All registrations for a live event will be given access to the OnDemand recording, at no additional cost, for seven days following the event. This will allow a flexible alternative when last minute conflicts intrude on scheduled events.
CD-Rom includes audio and video of recorded webinar plus hard copy handouts. You will also receive 6 months access to the OnDemand weblink as an added free bonus.
Includes a weblink for unlimited viewing for 6 months after the date of the webinar as well as a link to handouts.
Live + Recorded:
Includes all three options above. Live session, OnDemand Weblink, and CD-Rom plus Hardcopy Handouts.
Live + OnDemand:
Includes two of the options above. Live session and 6 months access to OnDemand Weblink plus link to handouts.
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