|New Account Documentation and Compliance
|Thursday, March 02, 2017, 09:00am - 04:00pm |
Click here to register online!
Managing risk is the #1 priority for all financial institutions and it all starts at the new account desk. If a criminal cannot get in, they cannot steal from your organization. Well-trained bankers who recognize and stop attempted dishonest activity are the first line of defense in protecting a financial institution from fraudsters. Unfortunately, too often, new account personnel are trained on the job which results in an environment of potentially vulnerability and unnecessary losses for the financial institution. Additionally, with constant new regulations, the need for ongoing training is paramount in order to maintain diligence as well as update processes and procedures. This full day workshop teaches vital account opening procedures and compliance requirements focusing on five essential pieces of information for every new account which includes proper identification and the correct TIN. The session will also address five fundamental questions that should be answered by every potential accountholder: What is the purpose of the account? Who owns the funds? Who will have access to the funds? At death, who has access/ownership? On business accounts, how are the owners identified and verified? The seminar manual is customized to Michigan law and is become known as the âtechnical reference handbookâ for new account departments.
You are encouraged to bring a copy of your institiution's signature cards and account agreement to the workshop.
WHAT YOU WILL LEARN:
- Understanding Signature Card Contracts and the Impact They Can Have on a Customer's Estate Plan
- TIN Compliance Thorough Discussion of SSN vs. EIN and W-9 vs. W-8BEN
- Proper Business Account Documentation and Resolutions
- Sole Proprietorships, General and Limited Partnerships, Corporations, LLC and LLP Entities
- Non-Profit Associations and Charitable Organizations
- Opening Individual Accounts; Adding Authorized Signers or Agents
- Joint Accounts With Rights of Survivorship and Tenants-In-Common Without Rights of Survivorship
- Power of Attorneys Using an In-House Form vs. Accepting an Out-of-House Form
- Formal Trust Accounts - Difference Between Revocable and Irrevocable Trusts; Opening Living Trusts
- Informal Trust Accounts - Pros and Cons of POD and Revocable Trustee Accounts
- Effectively Opening Accounts For Minors - Uniform Transfer To Minors Act Accounts
- Handling Estate and Court Ordered Accounts: Deceased Accountholders, Guardianships and Conservatorships
WHO SHOULD ATTEND
All customer contact personnel, supervisors and officers whose responsibilities include opening or managing new accounts and certificates of deposit. Excellent for supervisors or officers who have recently assumed the responsibility of the new account area but perhaps have never worked in new accounts. Internal Auditors and Compliance Officers will find the information exceptionally beneficial.
Driving directions may be found at:
- Continental Breakfast: 8:30 a.m.
- Seminar: 9:00 a.m. - 4:00 p.m.
- Dress is business casual
- Continental breakfast and lunch are included
- Parking is free. Please park in the MBA lot on the north side of our building
- We provide all materials (handouts, pen, paper)
Accommodations. Please ask for Michigan Bankers Association corporate rates.
Courtyard by Marriott, Lansing
Ask for Michigan Bankers Association Corporate Rate
2710 Lake Lansing Road
Lansing, Michigan 48912
(517) 482-0500 (please stay on the line and ask for the Lansing sales office)
Hyatt Place Lansing, Eastwood Towne Center
2401 Showtime Drive
Lansing, MI 48912
If prompted, please enter the code 29700 into the Corporate or Group Code Box
Location : MBA Education Center, Lansing