The 2020 pandemic forced many financial institutions to open accounts electronically and follow E-SIGN when branches were temporarily closed. Learn the six-step consent process, common pitfalls, and more.
AFTER THIS WEBINAR YOU’LL BE ABLE TO:
- Explain and implement the six-step consent process to open “no-contact” accounts
- Understand which deposit regulations are related to E-SIGN and have specific compliance provisions
- Use the most recent BSA guidance for satisfying the due diligence requirements for CIP (Customer Identification Program)
- Define and identify acceptable documents to open accounts and incorporate risk mitigation strategies into the new account process
- Determine when enhanced due diligence steps are required to open an account
The 2020 pandemic forced many financial institutions to open accounts electronically and follow E-SIGN when branches were temporarily closed. This fast-paced session will explore the six-step consent process. Learn best practices for opening accounts and completing signature cards, as well as common pitfalls. Other important topics will be covered, including risk mitigation strategies, vendor management, and required documentation for CIP in order to form a “reasonable belief” of the true identity of the customer.
WHO SHOULD ATTEND?
This informative session will be helpful to ensure compliance with e-banking and is targeted for compliance officers, risk managers, operations managers, business development managers, and others responsible for managing online banking, E-SIGN compliance, e-statements, and e-disclosures.
- Current exam procedures and many resources for online banking
- E-SIGN checklist and answers to common questions
- Social Media Policy Template
- Employee training log
- Interactive quiz
SPEAKER: Susan Costonis, Compliance Consulting and Training for Financial Institutions
Susan Costonis is a compliance consultant and trainer. She specializes in compliance management along with deposit and lending regulatory training. Most of her 35-year career was spent as a banker in several areas including lending, loan administration, electronic banking, and compliance risk management.
Susan has successfully managed compliance programs and exams for institutions that ranged from a community bank to large multi-state bank holding companies. She has been a compliance officer for institutions supervised by the OCC, FDIC, and Federal Reserve. Susan has been a Certified Regulatory Compliance Manager since 1998, completed the ABA Graduate Compliance School, and graduated from the University of Akron and the Graduate Banking School of the University of Colorado. She regularly presents to financial institution audiences in several states and “translates” complex regulations into simple concepts by using humor and real-life examples.