Seminar Description
The facts are in! Many financial institutions are increasingly taking more losses in the new account area than in the loan area. The reason – not recognizing fraudulent accounts! Too often new account personnel receive twenty minutes of training before opening their first account. Most of the expertise is gained "on the job" which results in an environment of insecurity and vulnerability for new account representatives and unnecessary losses for the financial institution. With all the new compliance regulations, it seems like we are now conducting New Account ”Interrogations” rather than New Account “Interviews”! This full day annual review teaches new account personnel: proper account opening procedures and compliance requirements: the five crucial pieces of information including proper identification and the correct TIN for every new account; the four fundamental questions that should be asked of every potential accountholder:
1. Who owns the funds in the account?
2. Who has access to the funds in the account?
3. What is the purpose of the account?
4. If a business account: What type of legal entity is this?
The seminar manual, which is customized to your state law, has become known as the "technical reference handbook" for new account departments across the country.
What You Will Learn
Understanding Signature Card Contracts and the Consequences
TIN Compliance - including SSN vs. EIN and W-9 vs. W-8BEN
Proper Business Account Documentation and Resolutions for:
Sole Proprietorships, General and Limited Partnerships, Corporations; LLC and LLP Entities
Negotiating checks made payable to a business
Non-profit Associations and Charitable Organizations
Proper Account Opening Procedures and Required Documentation for:
Individual Accounts; Individual Accounts Authorized Signers or Agents
Joint Accounts With Rights of Survivorship and Tenants-In-Common Without Rights of Survivorship
Power of Attorneys - In House Form and Out-of-House Form
Formal Trust Accounts - Living Trusts; Revocable and Irrevocable
Informal Trust Accounts - POD and Revocable Trust Accounts
Uniform Transfer To Minors Act Accounts;
Estate Accounts: Deceased Accountholders and Guardianships
Seminar Instructor
Patrice M. Konarik, CFP™, is president and founder of Sunwest Training Corp. located near Galveston, Texas. With over 25 years experience in the financial industry, Patrice has focused her expertise on the retirement and new account areas and is currently providing training in 22 states. She has a BS from New York’s Binghamton University and earned her Certified Financial Planner™ designation in 1990. Patrice brings the information to life with her humorous approach, in-depth knowledge and an unlimited supply of "true life" examples.
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 have never actually worked in new accounts. Internal Auditors and Compliance Officers will find the information exceptionally beneficial as well.
It is strongly recommended you bring a copy of your institution’s signature cards and account agreement to the workshop.
Registration and Cancellation
ABA Members are $225 per person and Non-Members are $450 per person. Registration fees include instruction, materials, refreshments and lunch. Full registration fees will be refunded if a cancellation is received on or before ten business days prior to the meeting. If date of cancellation is less than ten business days prior to the meeting, a $100 processing fee will be retained. No refunds will be given for cancellations made the day of the program. Substitutions are welcome.
More Information
Dress for the seminar is business casual. To ensure your comfort, please bring a jacket or sweater. Directions are available online. If you need additional information, the ABA office, 334-834-1890 or 800-239-5521.
