Someone wants to open a business account. Do you know what type of business it is and the documentation you should request? How do you determine whether the person has the proper authority to open the account and what that authority means? What regulatory requirements are applicable to business accounts? From sole proprietorships to corporations and everything in between, this program will provide details about the correct documents and proper use of taxpayer identification numbers for business accounts.
- How will the new beneficial ownership requirements affect the account opening process?
- What documents should be required from a business before establishing an account?
- Are there specific account agreements and signature cards for businesses? How do they differ from natural person accounts?
- Who has authority to establish an account and where is that information found?
- When is it important to obtain additional information regarding account use?
- Types of businesses and required documentation
- BSA red flags for business accounts
- Certification of beneficial ownership model
- Business due diligence checklist
- Employee training log
- Quiz you can administer to measure staff learning and a separate answer key
WHO SHOULD ATTEND?
This informative session is designed for anyone opening new accounts, taking deposits, or handling transactions at the teller line, by mail, ATM, or call center, including: new accounts representatives, service representatives, tellers, compliance staff, and auditors.
ABOUT THE PRESENTER – Mary-Lou Heighes, Compliance Plus, Inc.
Mary-Lou Heighes is President and founder of Compliance Plus, Inc., which has assisted financial institutions with the development of compliance programs since 2000. She provides compliance training for trade associations and financial institutions. Mary-Lou has been an instructor at regulatory compliance schools, conducts dozens of webinars, and speaks at numerous conferences throughout the country.
Involved with financial institutions since 1989, Mary-Lou has over 20 years’ compliance experience. Before starting Compliance Plus in 2000, she spent five years working as a loan officer, marketer, and collector. She also worked at a state trade association for seven years providing compliance assistance and advising on state and federal legislative issues that affect financial institutions.
Originally recorded on May 8, 2018.
Recorded webinar link is available until November 30, 2018.
Free Digital Copy included with purchase to download and view beyond link expiration date.
Price includes sales tax.