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2020 New Accounts - Missoula
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 Export to Your Calendar 7/30/2020 to 7/31/2020
When: April 30 to May 1, 2020
From 8:30-4p & 8:30-12:00p
Where: Map this event »
Best Western Grant Creek
5280 Grant Creek Rd.
Missoula, Montana  59808
United States
Contact: Pam O'Reilly

Online registration is available until: 7/30/2020
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Extended 1½ day format.

Seminar Description

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 your state law and has become known as the "technical reference handbook" for new account departments across the country.

You are encouraged to bring a copy of your institution’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

o   Sole Proprietorships, General and Limited Partnerships, Corporations, LLC and LLP Entities

o   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.   

Seminar Instructor

Suzette (Suzie) Jones, CFP® is managing director of Training Resources Consulting, L.L.C. located in Houston, Texas. Suzie served as an Executive Vice President at an $11B financial organization where she was an active member of the AML, BSA, Personal/Corporate Risk and Non-Bank Product Risk committees.  With over 40 years of experience in the financial industry, Suzie has focused her technical expertise on new accounts risk management, IRAs, qualified retirement accounts and investment management.  Suzie brings technical information to life with her engaging training style and in-depth knowledge.  She holds the Certified Financial Planner (CFP®) professional designation.

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