Knowing Your Customer for Business Accounts – By Compliance Global Inc


Very often the simplest error or typo on an account signature card can create legal ownership, insurance and access issues for your accountholder. If you add notes to the cards or add signers after the fact, you may create liability for your financial institution. When you open accounts, you are tempted to accommodate the account holder’s wishes in ways that may lead to liability for your financial institution.

The practical tips and best practices you will learn in this webinar may save your financial institution thousands of dollars. These 11 fundamental rules will keep your officers and your account representatives from creating liability and future losses on the deposit side of your organization.

Why Should You Attend:

Business account signature cards and resolutions often time are approached with some confusion over distinguishing between types of entities, authorities on the account and required documentation that a financial institution is required to obtain during the account opening process.

This session will provide a legal and compliance perspective of a financial institutions responsibilities in gathering such documents during the account opening process.

Areas Covered in this Webinar:

When small favors for customers can result in liability for the financial institution
Why you cannot give money to someone who has not signed the signature card
Why checks have to match accounts
When must you retype the signature card and when can is it acceptable to make small changes
When does it matter which disclosures you make on new accounts?
When failure to read and comply with the signature card contract can be significant—closing accounts, rights of offset, and other issues
How to set up signers, powers of attorney and other important fiduciary relationships so you won’t confuse ownership

Learning Objectives:

The impact of lack of signatures on your cards and how that affects FDIC insurance coverage
Common errors on ownership types and how that can create big problems for the accounts of deceased depositors
Account stylings and taxpayer identification numbers—at $50 per error, how many can you afford?
Typos, whiteout, initialing and other issues that can cause your financial institution to suffer damages

Who Will Benefit:

Account Managers
Personal Bankers
Compliance Officers
BSA / AML Officers
Financial Institutions
Credit Unions
Account Opening Managers and Personnel
Deposit Operations
For more information, please visit :
Toll Free: +1-844-746-4244
Tel: +1-516-900-5515
Fax: +1-516-900-5510

Speaker Profile:

Gina Lowdermilk is a highly experienced and educated BSA/AML and Financial Regulatory Compliance professional with extensive policy and procedure development and implementation, training, internal audit, monitoring, risk management, and reporting experience. Her emphasis has been working with financial institutions that are experiencing regulatory concerns and resolutions, including enforcement actions such as memorandums of understanding and cease and desist orders.

Her 15 years of experience has given her the opportunity to work from small community banks to large, international financial institutions. Her roles not only included BSA/AML and Compliance, but also operations, lending services, business development, marketing, management, department development, and asset quality. Ms. Lowdermilk has worked with all of the financial regulators and examiners. She possesses advanced Microsoft Excel, PowerPoint, Word, Internet Explorer, Visio, and Access skills.

She also has experience with FiServ, BAM, CRA Wiz, TeamMate, COGNOS, and Metavante banking software. Gina has been responsible for creating both recurring and ad hoc executive management and board presentations. In addition to her above experience, she is also an adjunct instructor for the business and construction management programs at a local college, as well as writes numerous BSA/AML and Compliance articles, training materials, and manuals as requested from numerous clients.

Event Details

Registration is closed for this event.

Maurice Gilbert

Maurice Gilbert founded Corporate Compliance Insights in December 2008 to further the discussion and professional knowledge exchange of important, forward-thinking corporate governance, risk and compliance topics.

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