Online Account Opening Risk Management

Duration: 120 Minutes
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While online account opening presents tremendous growth potential for financial services organizations, it also presents significant risk, particularly when funded using ACH. These risks can be controlled with proper due diligence for the online environment, account validation and enhanced online-specific risk controls. This course will evaluate practical risk management strategies providers can use to build a program appropriate for their risk appetite. The course covers both new consumer and business accounts, including deposit accounts, loans, credit and more.
Online Account Opening
Instructor: Rayleen M. Pirnie
Product ID: 501986
Objectives of the Presentation
  • Assess the threat environment
  • Review risks specific to online account opening
  • Consider common issues
  • Isolate related regulatory guidance and expectations
  • Document due diligence and verification methods
  • Record sound business practices to mitigate risk
Why should you Attend
While there is tremendous appeal in reaching a broader audience by offering online account services, especially online account opening, the risks are significant in today’s environment. Anything from insufficient risk assessments to poor BIA and related controls can turn an advantage into a financial (and reputational) disaster. If your financial services organization or financial institution is considering (or offering) online account opening to gain new customers/members, this course is a must to ensure you are properly managing today’s risks.

Areas Covered
  • How common data breaches impacts your ability to screen and validate new accounts
  • Areas of risk related to online account opening
  • Why common account validation techniques fail
  • Balancing automated and manual verification
  • Risk rating new customers/members
  • Critical components of your risk assessment
  • Limiting risk, exposure and losses
Who will Benefit
  • Customer Service Personnel
  • Operations Officers / Supervisors and Personnel
  • Compliance Officers
  • Risk Management Personnel
  • Treasury Management
  • Product / Service Development
  • Loan Officers
$300
Recorded Session for one participant
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  $450.00 Training CD
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  $550.00 Training USB Flash Drive
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How it works
Live Session - How it works
  • Login to onlinecompliancepanel with your registered username and password https://www.onlinecompliancepanel.com/login
  • The webinar joining link, username and password for joining the webinar will be updated on your OCP Account 24 hours prior to the webinar
  • Presentation handouts in Downloadable PDF format will be updated on your OCP Account 24 hours prior to the live session
  • Login to the audio conference on the scheduled date and time
  • Get answers to your queries through interactive Q&A sessions via chat at the end of the session
  • Download the Certificate of Attendance and Purchase Invoice from your OCP Account 24 hours after the completion of the session
  • Please let us know your thoughts and views at the end of the webinar, your valuable feedback will help us improve
Recorded Session - How it works
  • Login to onlinecompliancepanel with your registered username and password https://www.onlinecompliancepanel.com/login
  • Upon purchase of the recorded session a link will be updated on your OCP Account within 24 hours
  • Please click on the link to access the Recorded Session
  • Presentation handouts in downloadable PDF format will be updated on your OCP Account within 24 hours of the purchase of the product
  • Download the Certificate of Attendance and Purchase Invoice from your OCP Account after 48 hours of the product Purchase
  • Please share your valuable Feedback at the end of the session
Instructor Profile:
Rayleen is the founder and owner of RP Payments Risk Consulting Services, LLC. based in Missouri. She is a nationally recognized payments risk and fraud expert who offers specialized consulting services, procedural and risk management reviews, and payments education. Rayleen's specialized skill is delving into the world beyond the payment rules; areas where organizations often find themselves in positions of liability or loss with little to no clear guidance. She is an Accredited ACH Professional (AAP) who has worked with all payment systems for nearly 20 years, and a Certified Enterprise Risk Professional (CERP). Rayleen also holds a Bachelor of Science in Criminal Justice Administration.

Her favorite pastimes include gardening with her grandson and reading. She is very active with children's advocacy services in the state of MO and has 4 rescued dogs.
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