|Event Date||Thu Apr 16 EDT (almost 2 years ago)|
Robert F. Hatcher, Sr. Conference Center
100 University Pkwy, Macon, GA 31206, USA
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 potential vulnerability and unnecessary losses for the bank. Additionally, with constant new regulations and complex business account multi-level structures, the need for ongoing training is paramount in order to maintain diligence as well as update processes and procedures.
Who Should Attend?
Operations officers, compliance officers, new account representatives, CSRs, new accounts supervisors, branch managers, trainers, and auditors. 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.
What Will Be Covered
• Business and Consumer Accounts
• Proper Account Title; CIP Requirements
• FCRA (Fair Credit Reporting Act) third-party verification requirements
• Customer Notification/Disclosure Requirements
• Comparison with Government Lists (OFAC)
• TIN Certification/Back-Up Withholding
• Business Account Documentation
• Business Modification Documentation
• Sole Proprietorships
• Husband and Wife Proprietorships
• Why are there so many different types of partnerships? General Partnership; Limited Partnership; Limited Liability Partnership; Limited Liability Limited Partnership
• Limited Liability Company / Single Member/ Multi-Member/ Series LLC;
• Corporations / S Corps/ Professional and Non-Profit
• Escrow / Agency / Intermediary Accounts; Non-Profit Social Club and Associations; Interest on Lawyer Trust Accounts (IOLTA); Public or Governmental Units
• FinCEN – Beneficial Owner Due Diligence
• Documenting out of state businesses and layered organizations
• Resolutions – purpose/proper completion
• Single and Joint Account Ownership
• With and Without Right of Survivorship
• Authorized Signer Designation
• Power of Attorney
• Trust, Fiduciary, Minor and Court Ordered Accounts
• Opening Accounts When Owner of Funds Is Not Present
• Trust Account Overview – Why Set Up a Trust?
• Why are Living Trusts So Popular?
• Why Avoid Probate?
• Understanding the Authority of the Parties to a Trust
• Key Questions to Ask to Determine Formal Trust Status
• Six Key Pieces of Information Needed to Open a Trust Account
• Does Your Bank Need/Want the Entire Trust Agreement?
• Opening Formal Revocable & Formal Irrevocable Trusts
• Payable on Death Accounts (POD)
• In Trust for Accounts (ITF)
• TIN Compliance for Trust Accounts
• Account Ownership Options for a Minor
• Uniform Transfer to Minor's Account (UTMA)
• Estate Accounts
• Guardianship/Conservatorship Accounts
• SSA Payee and VA Fiduciary Accounts
• FDIC Insurance
• Account Documentation and Compliance Reference Chart
• Access at Death of a Business Account Signer
Suzette "Suzie" Jones, CFP®
Training Resources Consulting, LLC. Managing Member