Montana Bankers Association New Accounts - Billings 2022 | Montana Bankers Association | 10 May 2022 | Hilton Garden Inn Billings, 2465 Grant Rd, Billings, MT 59102, US

Managing risk is the #1 priority for all financial institutions and it all starts at the new account desk. If a criminal cannot get in, they cannot steal from your organization. Well-trained bankers who recognize and stop attempted dishonest activity are the first line of defense in protecting a financial institution from fraudsters.

Unfortunately, too often, new account personnel are trained "on the job" which results in an environment of potentially vulnerability and unnecessary losses for the financial institution. Additionally, with constant new regulations, the need for ongoing training is paramount in order to maintain diligence as well as update processes and procedures. This full day workshop teaches vital account opening procedures and compliance requirements focusing on five essential pieces of information for every new account which includes proper identification and the correct TIN.

The session will also address five fundamental questions that should be answered by every potential accountholder: What is the purpose of the account? Who owns the funds? Who will have access to the funds? At death, who has access/ownership? On business accounts, how are the owners identified and verified?

The seminar manual is customized to your state law and has become known as the "technical reference handbook" for new account departments across the country.

What You Will Learn:
• Understanding Signature Card Contracts and the Impact They Can Have on a Customer’s Estate Plan
• TIN Compliance –Thorough Discussion of SSN vs. EIN and W-9 vs. W-8BEN
• Proper Business Account Documentation and Resolutions
• Sole Proprietorships, General and Limited Partnerships, Corporations, LLC and LLP Entities
• Non-Profit Associations and Charitable Organizations
• Opening Individual Accounts; Adding Authorized Signers or Agents
• Joint Accounts With Rights of Survivorship and Tenants-In-Common Without Rights of Survivorship
• Power of Attorneys – Using an In-House Form vs. Accepting an Out-of-House Form
• Formal Trust Accounts - Difference Between Revocable and Irrevocable Trusts; Opening Living Trusts
• Informal Trust Accounts - Pros and Cons of POD and Revocable Trustee Accounts
• Effectively Opening Accounts For Minors - Uniform Transfer To Minors Act Accounts
• Handling Estate and Court Ordered Accounts: Deceased Accountholders, Guardianships and Conservatorships

Who Should Attend:

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 recently assumed the responsibility of the new account area but perhaps have never worked in new accounts. Internal Auditors and Compliance Officers will find the information exceptionally beneficial.

2022 Speaker

Suzette Jones
Training Resources Consulting, CFP