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: 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.