Opening New Accounts II – Business Accounts Webinar
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.
Webinar Description and Audience
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.
This is Part 2 of a three-part series. The first session is on Tuesday, April 11, and the third on Wednesday, April 26. You can attend all sessions or each one individually.
•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?
•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
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 authority to “waive” documentation requirements. Internal Auditors and Compliance Officers will find the information exceptionally beneficial as well.
Webinar Viewing Options
INCLUDES SEVEN DAYS OF ONDEMAND PLAYBACK! With this option, you will participate in the webinar (via the internet) as it is being presented. You will login to the webinar on your PC to view the PowerPoint presentation, and you have the option of using your PC speakers or a telephone for the audio. Participants can type and send their questions to the instructor. Many companies are now running their PC through an LCD projector allowing many employees to participate in the same room.
SIX MONTH ONDEMAND VIDEO:
With this option, you will receive an e-mail that contains a link to the PowerPoint slides (to download, print, and copy) as well as a link to the media player where you will view and hear the entire webinar just as it was delivered, featuring the full-color PowerPoint presentation with audio. You can pause, fast-forward and rewind as needed, which makes it an effective training tool. The weblink will be available to you (and anyone else in the company) for up to six months and can be accessed 24/7 as many times as you wish. Delivered via e-mail the day after the webinar takes place.
If you do not have internet access or want to make the webinar part of your training library, the CD-ROM Recording is a great option for viewing a webinar. You can pause, fast-forward and rewind as needed, which makes it an effective training tool. With this option, you will receive a download of the PowerPoint slides and a CD-ROM Recording (featuring PowerPoint presentation with audio) of the webinar via regular mail. Mailed 7 to 10 days after the webinar takes place.
Webinars can be scheduled and offered exclusively for your company. They can even be customized to best fit your needs. To find out more, please complete the in-house request form found in the Schedule and Registration Information section below.
Continuing Education (CE) Credits
This webinar is recommended for 2.5 CE Credit Hours. Each attendee will receive a Certificate of Attendance for self-reporting of CE Credits.