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Course/Product Description
Title:

New Business Accounts: The Interview, CIP, New CDD Rules and Authority

SKU:WT-1001220
Format: Webinar
Description:

New Business Accounts: The Interview, CIP, New CDD Rules and Authority

It’s a big job to "know your customer" from identification, documents, questions, risk and to script this process into a fluid on-boarding process. This program will focus on building the process from different types of entities to different types of risk.

There are many types of business accounts with many ways to do business at banking today. It can be challenging to determine who is authorized to open, close and transact business when dealing with so many business entities. In addition to opening accounts in person for businesses, we now bank businesses online, with debit cards and through remote deposit. Because of these multiple entities and various approaches to opening accounts numerous questions arise. How do we set up these accounts and then change them as the businesses change? What happens when a partner dies? What happens when the sole proprietor dies? Can you keep the same EIN if a sole proprietorship incorporates? What if the LLC members are other businesses? How do they sign? We will look at tax issues when a business is disregarded and reported in a different tax number. And the list of questions goes on. Understanding designations, rules and authority on all different types of business accounts can assure that you are taking the proper precautions and can assist you in avoiding errors that can be costly to your organization.

New Customer Due Diligence will change how you open and document your legal entity customer. This program will address how to complete beneficial ownership forms, how to script the business account interview to include beneficial ownership, purpose, and nature questions. You will receive a business documentation handout to assist you in creating checklists plus some sample situations which will demonstrate how to run your CIP on the business, signatories and beneficial ownership. The FATCA rule has a component on foreign financial institutions which began on January 1, 2015 for foreign institutions and businesses. We will review new account opening procedures for foreign financial institutions and foreign financial entities and the new W-8BENE.

The regulators are now asking for a new account script. When you receive your request letter items for your compliance examination, will you have a new deposit account script? If not, this is the program for you.

Covered Topics:
  • Sole Proprietorship Accounts
  • Partnership Accounts
  • Corporations
  • Limited Liability Companies (LLC)
  • Nonprofit Organizations
  • Exemptions for CDD
  • Record Retention
  • Transactional questions
  • Assigning Risk
  • Developing a Script
Who Should Attend

New Accounts, Personal Bankers, Branch Administration, Deposit Operations, CIP Managers, BSA Officers, Training and Business Development Personnel

The Presenter

Deborah Crawford is the President of Gettechnical Inc., a Virginia based training company. She specializes in the deposit side of the financial institution and is an instructor on IRAs, BSA, Deposit Regulations and opening account procedures. She was formerly with Hibernia National Bank (now Capital One) and has bachelor's and master's degrees from Louisiana State University. She has 27 years of combined teaching and banking experience.

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.

Webinar Descriptions:

Live Session:
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.

Recorded CD:
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.

OnDemand:
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.
Price: $265.00
More Info: Contact Us For More Information
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Currently Scheduled Dates For This Webcast
Course TitleDatePrice
New Business Accounts: The Interview, CIP, New CDD Rules and AuthorityCD/On-Demand$345.00

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