Financial Industry Essentials
StreamedAug 1, 2023
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- Unlimited & shareable access starting two business days after live stream
- Available on desktop, mobile & tablet devices 24/7
- Take-away toolkit
- Ability to download webinar video
- Presenter's contact info for questions
Welcome to the wide world of banking!
Learn how financial institutions work, how money moves, and how your institution fits into this elaborate network. Discover each department’s function and responsibilities, so you can see how your role impacts fellow employees and accountholders. Explore how mobile banking and mobile transactions enhance and support “traditional” products and services. This selection of bite-sized topics is perfect for new hires! Each of the nine modules is just 20-40 minutes long and delivers timeless, necessary knowledge for all employees.
- The Financial System, How Money Moves & Mobile Banking
- Consumer Accounts: Deposits, Loans & Account Ownership
- Business Accounts: Deposits, Loans & Account Ownership
- Regulatory Agencies, Examinations & Deposit Insurance Safeguards
- Security & Privacy
- Internal Controls: Overrides, Bank Bribery Act & Ethics
- Intro to BSA: Laying the Foundation
- Identity Theft, Red Flags & Fraud
- Fair Lending, Including UDAAP Basics
This package is offered on-demand only and will be available to view and download starting on the release date.
NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your agency is prohibited. Print materials may be copied for eligible participants only.
Money moves like a well-oiled machine, but there are many parts that must work together when money changes hands. This module will provide an overview of the financial system and explain the many avenues for transferring funds from account to account and customer to customer, including the Automated Clearing House (ACH) system, funds transfers, sweeps, P2P, and more. It will also address how transactions, such as deposits, that originate through mobile banking integrate into the overall process of how money moves. Approximately 40 minutes
Everyone’s situation is different and there is often uncertainty about account ownership and how to conduct appropriate due diligence. This session will review features and benefits of traditional consumer deposit and loan products. It will also cover various ownership types (joint WROS, joint WOROS, POAs, etc.) and the documentation that should be requested to meet due diligence requirements. Approximately 30 minutes
Opening even a “basic” business account can involve considerable time, paperwork, and risk! It can be daunting to meet the regulatory requirements and understand the commercial products and services your institution offers to meet specific needs. Learn common ownership types (sole proprietorships, LLCs, nonprofits, etc.) and best practices for the documentation needed to meet due diligence requirements. Approximately 30 minutes
Financial Industry Essentials Module 4: Regulatory Agencies, Examinations & Deposit Insurance Safeguards
Have you heard about the FDIC, CFPB, examiners, and regulators but wondered who they are and what they do? Increase your awareness of the financial regulators, the types of examinations they conduct, and which financial institutions each regulates. In addition, this big-picture overview will explain how deposit accounts are insured at your financial institution. Approximately 40 minutes
All financial institutions face potential security threats, whether they are big or small, located in a city center or on the corner of a rural Main Street. The best defense is to be prepared! Learn best practices to protect yourself and your institution prior to, during, and after an incident. You’ll also discover your responsibilities under Regulation P and the Right to Financial Privacy Act to safeguard the personal and financial information of accountholders. Approximately 40 minutes
Policies and procedures are often viewed as a time-consuming hindrance but are actually critical internal controls designed to protect your accountholders, your institution, and you! This session will cover the components of the fraud triangle and explain why those overrides and internal controls are so very important. It’s also critical for employees, officers, and directors to understand the prohibition on accepting anything of value in connection with any transaction/business with your financial institution as required by the Bank Bribery Act. Approximately 30 minutes
The Bank Secrecy Act (BSA) was passed to assist law enforcement in fighting money laundering in the United States. The BSA requires financial institutions to maintain records and file reports regarding currency transactions, funds transfers, and monetary instruments. BSA impacts all areas of your institution from the frontline to operations, to the loan department, and even the board of directors. This session will explain the BSA basics and include an overview of the five BSA pillars, the three steps of money laundering, and best practices for identifying and reporting potential suspicious activity to your institution’s BSA officer. Approximately 30 minutes
Spotting identity theft protects your financial institution and accountholders from losses. In 2022, the Federal Trade Commission received over 1.1 million reports of identity theft. Join us to learn about the current fraud trends and the red flags for spotting identity theft. This topic is so important that annual red flags training is required to detect and mitigate identity theft risk. Discover how to prevent accountholders from losing their hard-earned money to fraudsters! Approximately 30 minutes
This topic is hotter than hot! As an employee, it is critical to fairly evaluate loan applicants and fully disclose our products and services. Types of discrimination will be described along with unfair, deceptive, or abusive acts and practices (UDAAPs). Both issues can cause significant financial injury to consumers, erode consumer confidence, and undermine the financial marketplace. It’s critical that all staff understand the importance of fair lending and be able to accurately explain their institution’s products, services, and fees. Approximately 40 minutes
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