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Whether you are dealing with a sole proprietorship or a corporation, financial institutions need to learn how to open and properly document a business bank account regardless if it is a corporation, or if it's a sole proprietorship. Financial institutions are responsible for executing their customer identification procedures for such accounts, including obtaining information regarding signing privileges and obtaining the appropriate documentation for these customers.

  • Understanding of different types of legal business entities
  • Appropriate customer identification procedures
  • Appropriate customer documentation
  • Opening account procedure
  • Death of an owner

  • Different types of business legal structures
  • General procedures for opening business bank accounts
  • How to open more advanced types of business accounts
  • How to open accounts for out-of-state businesses
  • How to check your customer's information on the secretary of state's website
  • How to change signers for all different types of business accounts
  • Do's and don'ts of the use of white out
  • What happens at the death of the account owner

This webinar will provide an understanding of the different legal forms of businesses and the filing requirements for each form of business. Discussions will include proper handling of changing signatures on all the various business accounts plus the handling of checks with regard to these types of accounts.

  • Compliance Officers
  • New Account opening officers
  • Personal Bankers
  • Tellers

Dr. Gina J. Lowdermilk, PhD (ABD), CAMS, CRMS is a qualified BSA/AML and Financial Regulatory Compliance professional with extensive policy and procedure development and implementation, training, internal audit, monitoring, risk management, and reporting experience. Her emphasis has been on working with financial institutions that are experiencing regulatory concerns and resolutions, including enforcement actions such as memorandums of understanding and cease and desist orders. Her 15 years of experience has given her the opportunity to work with small community banks to large international financial institutions. Her roles not only included BSA/AML and Compliance, but also operations, lending services, business development, marketing, management, department development, and asset quality. Ms. Lowdermilk has worked with all of the financial regulators and examiners. She possesses advanced Microsoft Excel, PowerPoint, Word, Internet Explorer, Visio, and Access skills. She also has experience with FiServ, BAM, CRA Wiz, TeamMate, COGNOS, and Metavante banking software. Gina has been responsible for creating both recurring and ad hoc executive management and board presentations. In addition to her above experience, she is also an adjunct instructor for the business and construction management programs at a local college, as well as writes numerous BSA/AML and Compliance articles, training materials, and manuals as per clients’ requests.

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