Risk Rate Authorized Signers

Posted By: kway

Risk Rate Authorized Signers - 02/08/22 05:10 PM

Does your bank risk rate authorized signers on nonprofit accounts?
Posted By: ACBbank

Re: Risk Rate Authorized Signers - 02/08/22 05:26 PM

We only risk rate customers.
Posted By: JennKK2

Re: Risk Rate Authorized Signers - 02/09/22 04:04 PM

customers only
Posted By: ACBbank

Re: Risk Rate Authorized Signers - 02/09/22 04:08 PM

I should have said this in my first response, but welcome to BOL kway.
Posted By: Paul

Re: Risk Rate Authorized Signers - 02/09/22 11:34 PM

At a prior bank I worked at they risk rated signers; that was one of the first things I changes upon arrival. The account officers loved me because it was less work for them (we had a manual system).

Paul
Posted By: BowlingQueen

Re: Risk Rate Authorized Signers - 02/10/22 03:28 PM

We only performed the new customer risk assessment on the customer. With that said, if it is known that an authorized signer is foreign/non-US citizen, we would add them to our high-risk list. We would perform periodic reviews to ensure account activity was as expected and/or not suspicious.