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Opening New Accounts Part I: Consumer Accounts

This two-hour workshop focuses on the risks, procedures, best practices, and compliance requirements for opening personal and consumer accounts.

OnDemand
Recorded Tuesday,
April 30th, 2024
Presented by Matthew Dickinson
2h total length
$299.00 or 1 Token

Includes: 30 Days OnDemand Playback, Presenter Materials and Handouts

  • Auditing
  • Compliance
  • Customer Service
  • Deposit
  • Deposit Accounts
  • Deposit Compliance
  • Fraud
  • General Compliance
  • Risk Management/Legal
  • Teller
  • Trusts
  • Bank Legal Counsel
  • Bank Secrecy Act Officer/BSA Specialist
  • Branch Manager
  • Compliance Officer
  • Deposit Operations Manager/Specialist
  • Internal Auditor
  • Loan Closer
  • Loan Operations Manager/Specialist
  • Marketing Officer/Business Development
  • New Accounts Representative
  • Private Banker
  • Risk Manager
  • Senior Management
  • Small Business Lender
  • Teller
  • Training Manager
  • Trainer
  • Trust Officer

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Opening new accounts is complicated! With fraudulent activity at an all-time high and ongoing onerous regulatory oversight and scrutiny, the need for new account training is paramount to maintaining diligence as well as updating processes and procedures. This two-hour workshop, which is Part I of a three-part series, focuses on the risks, procedures, best practices, and compliance requirements for opening personal and consumer accounts. Attendees will gain an understanding of proper documentation requirements, ownership options, proper account titling, and who has the authority to open and transact on the account during the lifetime and at the death of a signer. Part II of this three-part series encompasses business accounts, and Part III addresses trust and fiduciary accounts.

It is highly recommended that attendees have a copy of their financial institution's account agreement and signature card to use as a reference during the session.

What You'll Learn

  • 6-Step Account Opening Process
  • TIN Compliance
  • Personal Account Ownership Overview
  • Personal/Consumer Account Difficult Scenarios
  • Opening Accounts for Minors - UTMA
  • Who Can Access An Account During Lifetime And At Death
  • Power Of Attorney

Who Should Attend

Customer contact personnel, supervisors, and officers whose responsibilities include opening or managing new accounts, as well as Personal Bankers, BSA Officers, Deposit Operations, Branch Administration, CIP Managers, Training and Business Development Officers, Internal Auditors, and Compliance Officers will find the information beneficial. Lending assistants and officers will find the information informative as well.

Matthew Dickinson

Instructor Bio

With almost two decades of banking experience ranging from opening new accounts and IRAs, lending, managing operational and lending teams, and serving in key executive management positions - Matt knows the benefit of strong frontline training and its role in managing operational, regulatory, and reputational risk. Effective 2024, Suzie Jones retired after five decades in the financial industry. Matt acquired Training Resources with the commitment to continuing the new account training programs and materials Suzie developed, recognized for its customization to state law and as one of the industry's most outstanding and comprehensive resources.
Matt is known for his expertise, approachability, sense of humor, and passion for providing knowledge to bankers so they can serve their banks' customers confidently while managing risk. He provides training through 16 State Bank Associations and nationally through OnCourse Learning, a web-based training platform. Matt enjoys family time with his wife and four daughters, cooking, and has completed three full Ironman triathlons, a testament to his dedication and patience; traits bankers can expect to experience when they interact with Matt.

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