This is WSF-US (General WSFS Knowledge)
True or False: There were more accounts opened online in 2022 than 2021.
FALSE - More online accounts were opened in 2021 due to COVID.
This is the name for an international ACH payment. I Am Trusting you'll get this.
IAT
This line of business is under WSFS Bank and works with high-net worth clients seeking traditional banking services.
Private Banking
Of the following, which risk factor had the largest number of high risk customers?
A. CIB
B. NGO
C. PSP
B. NGO w/ 114
CIB - 44
PSP - 92
True or False: WSFS will conduct wire transfers for non-customers as long as they provide a copy of their ID and affadavit that they're a US citizen.
FALSE
Besides the footprint states, which state did WSFS BANK have the most customers from?
California
Which foreign country do most FIS ADDvantage (BMTDE, Legacy BMT Wealth) clients hail from?
United Kingdom
What is the name of the equipment leasing company?
New Lane
About how long did the RA take to complete?
A. 3 months
B. 4 months
C. 7 months
B. 4 months
What does OFAC stand for?
Office of
Foreign
Assets
Control
How many SARs were filed in 2022?
A. 678
B. 783
C. 867
B. 783
Which foreign currency was bought the most by our customers?
Euro, by $700K!
Now Bryn Mawr Capital Management, what two subsidary companies combined to form this new entity?
Cypress and West
What was the number of WSFS high risk customers at the end of Q4 2022? I'll take the nearest hundred, rounding up.
(HR only, non-HR EDD customers not included)
1,359
How many customer addresses were maintained in our favorite country, Russia?
A. Less than 5
B. 6-10
C. 11-15
A. 4
Approximately how many proprietary ATMs does WSFS maintain?
A. 600
B. 800
C. 1,000
A. 600
Which country did WSFS receive the most incoming IATs from?
Canada
Name two fintech companies WSFS partners with.
CRED
Upstart
Lendkey
Spring Equity
Approximately how many words is the RA?
A. 10,000 (its mostly a picture book)
B. 20,000 (getting respectable)
C. 30,000 (no one else will read this but me)
C. 30,000!!
32, 402 words to be exact!
There are at least 7 methods WSFS utilizes to check for inclusion on OFAC sanctions lists. Name 5!
Penley
LexisNexis
WatchDog
FCRM
CLEAR
Qualifile
Credit Reports
Which account type represents the HIGHEST DOLLAR value for WSFS?
A. Consumer Checking
B. Consumer Money Market
C. Business Checking
C. Business Checking
Name 5 international currencies WSFS Bank maintains via NOSTRO accounts at other institutions?
Nostro comes from the Latin word for “ours” and is typically how banks refer to our money on deposit at other institutions. These accounts are frequently utilized to simplify settlements of trade and foreign exchange transactions, and they differ from standard demand deposit bank accounts in that they are usually only held by financial institutions and are denominated in foreign currency.
Great British Pound
Euro
Canadian Dollar
Australian Dollar
Swiss Franc
Japanese Yen
Turkish Lira
Mexican Peso
NZ Dollar
Norwegian Krone
Israeli New Shekel
Swedish Kroner
South African Rand
Assisting customers with interest rate hedging, and cross-border currency risk, this line of business assists individuals and companies and their overseas business dealings.
Capital Markets
What was the final page count for the BSA and OFAC risk assessments?
A. 34
B. 98
C. 113
B. 98
Can you name the one instance called out in the OFAC RA where non-customers can buy monetary instruments?
Interboro School District Tax Bills - certain branches are made available to taxpayers to pay their school taxes without being a customer. OFAC is still checked.