Opening New Accounts - 3 Part Series

This webinar series will encompass opening personal, business, trust, minor, power of attorney, estate accounts, and much more! Although not customized to specific state law, it will answer the more complicated and challenging questions customers and employees ask. Whether you are new to new accounts or have decades of experience, you will gain more confidence and be prepared to handle even the most complicated scenario!

May 2, 2023
May 3, 2023
May 4, 2023
Presented by Suzie Jones
2h total length
$769.00 or 3 Tokens

Includes: 30 Days OnDemand Playback, Presenter Materials and Handouts

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

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Series Details

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.

  • 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

Opening New Accounts Part II: Business Accounts

This two-hour webinar examines the documentation requirements on business entities available in most states and clarifies how to identify who has the authority to open and transact on behalf of the entity.

  • Business Account Documentation
  • Resolutions – Purpose and Proper Completion
  • Business Taxation Options
  • Types of Businesses
  • Determining LLC Business and Tax Classification
  • Ownership and Access of Accounts During Lifetime and After Death
  • Beneficial Ownership Due Diligence Requirements
  • Documenting Complicated Business Structures

Opening New Accounts Part III: Trust and Fiduciary

This two-hour webinar will discuss the responsibilities of collecting appropriate documentation, providing ownership options, titling accounts, and allowing proper access to Revocable Living Trusts, Fiduciary, Court Ordered, and Minor accounts not only during the lifetime, but at the death of a signer as well.

  • Defining Trustee, Personal Representative, and a Fiduciary's Roles and Responsibilities
  • Proper Account Titling
  • Formal vs. Informal Trust Comparison
  • Key Questions to Ask When Setting Up Trust Accounts
  • Six Pieces of Required Information for All Trust Accounts
  • Revocable and Irrevocable Trust Accounts Comparison
  • Payable on Death (POD)
  • Different Types of Accounts, Including Minor Accounts, Estate Accounts, Guardianship/Conservator Accounts, Social Security
  • Representative Payee Accounts, and Veteran's Affairs Fiduciary Accounts

What You'll Learn

Each webinar in the series will cover specific topics relative to the subject matter.

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 extremely beneficial. Lending assistants and officers will find the information informative, and at least 85% of this information also impacts the lending area.

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 17 state bank associations.