Random
Types of Bank Confirmation Templates (3)
Covering Letter, Bank General Template, Bank Treasury Template
TRUE/FALSE
Preparer/POC will directly send the email and audit request letter to banks
FALSE - Prepare/POC will only DRAFT the email, QC to send
What do you need to open when calling up the banks/law firm to follow up?
CMS, Signed copy sent & Phonetic alphabet (bonus)
True or False
Verify can be done through Google Chrome or Internet Explorer
False
Internet Explorer only
Date format should be month/date/year (T/F)
FALSE
How do you dial in when calling to australia?
ex. how do you dial in when the number provided is 02 8266 7777 (you can use any resource or website)
Answer: 900 612 8266 7777
(True/False)
Once done with the tracking task, the analyst should always click "Submit to QC"
False
"Save" then "Return to queue"
Verification is required if the response is received either through ______. (2 answers)
Email / Fax
When can you start following up the responses from the bank/law firms?
After the required by date has already lapsed
What is the naming convention for responses?
[WR#]G[Control#]E/P/F
True or False
After performing the verification, analyst should tick submit to QC
True
CLTs meaning
Confirmation Level Tasks
If the bank/law firm says that they didn't receive the request we sent, what will you ask next?
Confirm if the email address we initially sent the request to is correct, if not, request for a new one and resend
How do you document in tracking if the person who completed the general response is different from the treasury response?
Katrina Vilchez (G), Jamie Munoz (T)
What is the 1st thing to check when performing verification?
If there is a standard verification in CBL
If ET updated the bank details in the signed copies, but we have already validated this in the RLTs phase, will we effect this in the Log for sending? (2 answers: For Email & Post preference
If Email, just add the email address.
If Post, advise ET that we have already validated the postal address and will use that instead
If the bank/law firm says that they need an original request to process the confirmation, and we only sent it via email, what will you say next?
Confirm if you have the correct postal address then ask ET/SH to post the request
If the bank provides a list of derivative accounts in the response, what section should be ticked in tracking?
Section 9
During verification, what are you trying to verify with the bank?
- If the email address is a valid email from the bank
- If the person who completed the response is the authorised person to do so
- If there are any known changes with the response