Compliance Checklist for Elder Financial Abuse Requirements
Question: Is there a checklist to use to ensure compliance with the Elder Financial Abuse requirements of the bank?
Answer: Yes! It all comes down to training your people.
Have you provided training on the definition of Elder Financial Abuse?
Have you provided training on how to recognize instances of Elder Financial Abuse?
Have you provided training on the bank's policy for handling Elder Financial Abuse?
Have you provided training on how to communicate with victims of Elder Financial Abuse without insulting them?
Have you provided training on the bank's procedures for reporting Elder Financial Abuse?
Have you provided training on the banking needs of senior citizens?
Have you provided scenario-based training that motivates your people to care?
Remember, there are laws about the bank's responsibilities to look out for and report Elder Financial Abuse. If you train your team well, they will be more responsive to the needs of all elder customers, resulting in greater customer loyalty and increased cross-sell opportunities.
The Edcomm Group
The Edcomm Group Banker's Academy is a 22-year-old multimedia training company, recognized by USA TODAY as the training provider of choice for the banking industry. The Edcomm Group Banker's Academy offers programs such as Compliance, Teller, Bank Secrecy Act (BSA), Anti Money Laundering (AML), Basel II, EEO, Sexual Harassment, Elder Financial Abuse, Credit Risk Management, Fraud Prevention, Mortgage Fraud Prevention, Security, Ethics, Collections, Foreclosures, OSHA, Lending, Sales & Service, System Simulations, System Conversions, Leadership, Operations Management, and individual job training and career development through http://www.jobtraining.bankersacademy.com. To learn more, please contact Dr. Linda Eagle, President of The Edcomm Group Banker's Academy, at +1.212.631.9400 or linda.eagle@edcomm.com, and visit us on the web at http://www.bankersacademy.com.
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