TOPIC: Controls

Contacting your customers/members

Employee at a credit_union ($291MUSA)
We are looking at different avenues for contacting members/customers regarding transactional info on their account; not marketing.  We have some that are not responding to mailed letters or phone calls regarding their dormant accounts and we are considering emails.  We have read the CAN-SPAM reg and will not be marketing to them and will still include the option to "opt out".  We have staff that want to use facebook messenger, but I don't feel social media messaging is the way to go.  Do you use any social media messaging to contact your members?  Do you have a sample of your authorization that your customer/members sign?  We will be running this by legal, but wanted to see what others are doing as we update our policies and procedures. 

    Fiserv Frontier Account Reconciliation Software

    VP at a credit_union ($1.3BUSA)
    To credit unions who utilize Fiserv Prologue for the general ledger core system, do you utilize Fiserv's Frontier Account Reconciliation Software?  If so, do you find significant benefit in streamlining your general ledger account reconciliation process with much stronger controls and efficiencies?  I would appreciate any feedback on this solution.  Thank you!

      Webinar: Running a Dynamic Asset/Liability Management Committee

      Monday, November 18, 2019
      2:00 PM ET / 1:00 PM CT

      Today’s economic environment demands that asset/liability management (ALM) teams are identifying and acting on opportunities quickly. The old ways of ALM operations are much different in inverted or negative yield environments. Having a firm risk assessment and plan for future financial performance is the backbone of the Asset/Liability Management Committee’s (ALCO) role. It is the requirement for a robust process for measuring and managing relationships between risk and return.

      The ALM process should not be limited to one that “checks the box” of meeting regulatory requirements. Financial institutions and ALCOs with a dynamic ALM process are able to inform good decision-making related to both strategy and risk.

      Join this webinar to learn:
      • What it looks like to be a dynamic ALM-oriented institution today
      • How to make good decisions in different rate environments
      • How to integrate other decision-making models to determine the best loan terms, rates, and funding source
      Register now:

        MSB Security Deposit

        SVP at a bank ($3.3BUSA)
        Would like to get a poll as to what other banks may require to be on deposit when banking an MSB to cover possible chargebacks after or when a MSB relationship ends. We currently have several MSBs that we do not require any sort of deposit and are concerned that should we or the MSB close the relationship, how do we ensure we get covered for any possible chargebacks that may come after the accounts are all closed?