Implementing new Customer Due Diligence rules will impact your new business accounts procedures. This webinar will give you step-by-step written procedures guidelines and workbook for these new rules.
The opening of multi-tiered business accounts and the determination of beneficial ownership and exemptions will be an important part of the new account business account process. Learn from A to Z the best practices for opening business accounts, documenting the authority and changing signers in the new regulatory environment.
Topics Will Include:
- What authority is need to open every type of business account
- Why we do what we do in establishing ownership and liability
- What the resolution does and does not do on business accounts
- Impact of CIP and CDD from the Bank Secrecy Act on opening accounts
- Detecting beneficial owners
- Implementing new procedures for customer due diligence and beneficial owners
- Changing signatories
- Multi-tiered LLCs
- Partnerships with businesses as partners
- Corporations dba other entities
- Trusts as owners of businesses
Who Should Attend?
This informative session will be useful for new account representatives, member service representatives, Branch administration, branch operations, branch managers, compliance, BSA and anyone who opens new accounts.
Instructor
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 30+ years of combined teaching and banking experience.