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This Seminar is CANELLED!
Legal Issues of New Account Documentation and Compliance
March 9, 2010
UBA Offices
Cost: $275 members; $550 non-members (this price is for online registration only)
Register by February 23, 2010 and SAVE ($10 late fee applies after February 23)
Full fee is payable for cancellations after the deadline, however a substitute may attend. No shows will be billed the full fee.
LUNCH WILL BE ON YOUR OWN
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: thefive 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:
- Who owns the funds in the account?
- Who has access to the funds in the account?
- What is the purpose of the account?
- 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
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.
Seminar Instructor
Patrice M. Konarik, CFP™, is president and founder of Sunwest Training Corp. located near San Antonio, 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 25 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 training style, in-depth knowledge and an unlimited supply of "true life" examples.
Driving Directions & Parking
Parking is validated in the Walker Center
Coming from I-15 South take the 600 South Exit and coming from I-15 North take the 4th South Exit and proceed east to State Street. Turn left on State and left again on 200 South heading west. At the crosswalk between State Street and Main Street, turn right onto Regent Street and immediately left into the Walker Center Parking Garage. Unreserved parking is available above level 5. Take the parking garage elevators to the 7th floor for access to the 6th floor of the Walker Center. Once you are in the Walker Center Building, take the elevators to the 14th floor to Suite 1420. You may also take TRAX and get off on the Gallivan Center Station. The Walker Center is on the North East corner of 200 South and Main Street.
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