Nonprofit accounts can be uniquely challenging. This detailed webinar will explain everything you need to know in lay terms. Learn how to compliantly breeze through each account-opening and interview hurdle from CIP, to BSA, to ID numbers, and beyond.
AFTER THIS WEBINAR YOU’LL BE ABLE TO:
- Master some common challenges to opening nonprofit organization accounts
- Use the materials to verify that the CIP documentation has been completed
- Identify individuals for the “control” prong under the beneficial ownership rules
- Explain the requirements to frontline staff
- Determine an appropriate risk profile for these types of accounts
Specific documentation is required to open accounts for nonprofit organizations. What questions should be asked at opening? What CIP documentation is required for BSA compliance? Are nonprofits subject to the beneficial ownership rules? What documents are needed? What taxpayer ID number or EIN is required? Learn practical tips to confidently and compliantly open nonprofit accounts.
WHO SHOULD ATTEND?
This informative session is designed for new account representatives, compliance officers, BSA officers and staff, auditors, branch managers, deposit operations staff, and the frontline.
- Checklist for the frontline
- Template for CIP requirements
- CDD interview questions
- 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.