It's All About CSR Organization

No matter the objective, the best way to accomplish it is to be organized. Being a typical guy, when it comes to organization at home, we are only trained at this task when the individual who actually runs our first household in life actually trains us. It may be the parent who trains us or ultimately the spouse or significant other, but the point is, to be a successful organizer, likely someone trained us. Once trained, there is no doubt that future task became easier because we were organized.

Those who know and deal with me in the compliance world know I am well known for cheat sheets, cheat charts, cheat notes and checklists - the four C's as I call these compliance tools. To me, these are a compliance survival essential.

In a typical community financial institution, one of the areas needing these organizing tools the most is the CSR desk. When a CSR opens a customer account, multiple areas of knowledge are essential. If these areas are not handled correctly, they can have a negative impact in terms of compliance documentation, but potentially a negative impact in terms of the customer or the customer's estate planning. Therefore, it is necessary to have these cheat tools.

  1. The first potential of these tools is an Account Ownership matrix that incorporates, relative to the particular state and other federal regulatory specifics, the ownership type, account styling, death disbursement, TIN for IRS reporting, documentation specifics and Deposit Account Insurance Coverage.

  2. Once the specific account has been selected by the customer, a Deposit Disclosures Reference can be of use to ensure the proper disclosures are provided for the account type selected (for example, which account types get a Check 21 or a Reg. E Error Resolution disclosure). Typically these disclosures are NOW preset to accurately produce after checking by the Compliance Officer; however, without a system preset, this is a useful tool.

  3. Finally, the Regulation CC Hold matrix. Even with an automated system I have found that without a Hold Matrix to assist with understanding for each type of deposited item, case-by-case and exception hold specifics, noncompliance and documentation issues will be present.

As your CSR's open accounts, if you want things to be organized, consider purchasing a few "cheat" tools for your CSR's to use and train them on use of these tools.