Do you understand all the moving parts of business account types, authority, documentation, access, and more?
Business accounts have more moving parts than traditional consumer accounts. From sole proprietorships, to corporations, and everything in between, this webinar will provide the knowledge needed to confidently setup and maintain business accounts. For each business type, you’ll learn the documents required, the correct taxpayer identification number, and who has authority to sign and conduct transactions.
- What is beneficial ownership and which accounts are subject to these BSA requirements?
- Which documents should be obtained for each business structure?
- How do business account signature cards and disclosures differ from consumer accounts?
- Who can open an account in the name of the business, and how do they show the authority to do so?
- How much information regarding the use of the account should be collected upfront?
- Why does it matter when the payee on a check is different than the name on the account?
- TAKE-AWAY TOOLKIT
- Required documentation for each business type
- Certification of beneficial ownership
- Business due diligence checklist
- BSA red flags for business accounts
- Employee training log
- Interactive quiz
WHO SHOULD ATTEND?
This informative session is designed for anyone opening new accounts, handling business accounts transactions (in person, mail, ATM, call centers), new accounts personnel, tellers, financial services representatives, compliance staff, and auditors.
SPEAKER: Mary-Lou Heighes, Compliance Plus, Inc.
Mary-Lou Heighes is President and founder of Compliance Plus, Inc., which has assisted financial institutions with the development of compliance programs since 2000. She provides compliance training for trade associations and financial institutions. Mary-Lou has been an instructor at regulatory compliance schools, conducts dozens of webinars, and speaks at numerous conferences throughout the country.
Involved with financial institutions since 1989, Mary-Lou has over 20 years’ compliance experience. Before starting Compliance Plus in 2000, she spent five years working as a loan officer, marketer, and collector. She also worked at a state trade association for seven years providing compliance assistance and advising on state and federal legislative issues that affect financial institutions.