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Opening New Accounts Part I: Personal/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,
May 2nd, 2023
Presented by Suzie Jones
2h total length
$279.00 or 1 Token

Includes: 30 Days OnDemand Playback, Presenter Materials and Handouts

  • Compliance
  • Customer Service
  • Deposit Accounts
  • Deposit Compliance
  • General Compliance
  • Risk Management/Legal
  • Teller
  • Trusts
  • Bank Legal Counsel
  • Bank Secrecy Act Officer/BSA Specialist
  • Branch Manager
  • Compliance Officer
  • Credit Analyst
  • Customer Service Representative
  • Deposit Operations Manager/Specialist
  • Internal Auditor
  • Loan Operations Manager/Specialist
  • Marketing Officer/Business Development
  • New Accounts Representative
  • Private Banker
  • Risk Manager
  • Senior Management
  • Teller
  • Trainer

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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 maintain diligence and update processes and procedures. This two-hour workshop, 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, the impact of account ownership options on estate planning, proper account titling, and who has the authority to open and transact on the account during a lifetime, and at the death of a signer.

What You'll Learn

  • Managing Risk For the Financial Institution
  • How to Avoid Litigation, Regulatory Fines, and Damage to Your FI’s Reputation
  • 6-Step Account Opening Process
  • TIN Certification (W9 & W8-BEN)
  • Different Types of Accounts
  • Account Ownership and Access During Lifetime and After Death

Who Should Attend

Customer contact personnel, supervisors, and officers whose responsibilities include opening or managing new accounts. 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.

Suzie Jones

Instructor Bio

With over 40 years of banking experience, Suzie has a reputation as being extremely knowledgeable and high-energy with a unique ability to take technical information and make it interesting and applicable. After 22 years, Suzie recently retired as an Executive Vice President from a large regional bank where she provided overall leadership and risk management to the $11B Investments Division. For decades Suzie opened new accounts, managed new account teams, and provided hands-on input and leadership to the AML and BSA Committees within the bank. Suzie has a passion for sharing technical knowledge and lessons learned to provide risk management and promote excellence in the workplace. She partners nationally with individual banks, credit unions, private companies, small boutique firms, and provides training for 13 state bank associations.

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