Banking Workflows & Flow Charts

Banking Business Process Definitions & Templates

  • Workflow Template / Banking / Platform Operations

    Account Closing
    The Account Closing process involves the processing of account closing requests from retail and/or commercial banking clients. This process includes communications with clients, client instruction (for transfers or liquidation) completion, exposure reviews (late charges, dividends on margin shorts, debit charges, residual balances), compliance reviews and final account closure and monitoring. Customer service representatives should determine the reason for the client's desire to close the account (clients can be called, if necessary) as it may provide future opportunities for improvement.
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  • Workflow Template / Banking / Fraud Prevention & Management

    AML: Financial Crime Compliance
    The AML: Financial Crime Compliance process involves the generation of alerts, reporting and compliance writing related to possible fraudulent transactions. This process includes automated generation of alerts for possible suspicious activities, false alert removal (requires a validation of transaction details with alert scenarios), documentation of transaction information, case assignment, detailed transaction reporting and summary generation to customer. AML Laws and regulations target activities that include market manipulation, trade of illegal goods, corruption of public funds and evasion of tax, as well as all activities that attempt to conceal such activities.
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  • Workflow Template / Banking / Transaction Processing & Support

    AML: Payment Transactions
    The AML: Payment Transactions process involves the back end processing and underwriting of customer payment requests. This process includes customer payment origination, validation of customer identity, customer risk assessment (Office of Foreign Asset Control checks and compliance reviews are conducted on the received payment) and final delivery of payment. If the payment is not accepted, ensure that all pertinent information is recorded before the payment is reported. AML Laws and regulations target activities that include market manipulation, trade of illegal goods, corruption of public funds and evasion of tax, as well as all activities that attempt to conceal such activities.
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  • Workflow Template / Banking / Investment Banking

    Asset Based Lending
    The Asset-Based Lending process involves the setup and closing of an asset based loan. This process includes the initiation of an asset-based loan (request is made, application is filled in with preliminary information, application is submitted to underwriting), application review by underwriting (credit analysis is made, etc.), risk assesment is made, application is approved or denied, loan preparation and final loan closing.
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  • Workflow Template / Banking / Platform Operations

    ATM Card Requisition
    The ATM Card Requisition process involves the processing of requests for new ATM cards from existing or new retail banking customers. This process includes application submissions (if the application originates from a new customer), application approval/denial, cross-selling opportunities, reconciliation of bank database (if the application originates from an existing customer) and the generation of ATM transactions, income and fee reports. If there are any differences in the reports, ensure that adjustments are made.
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  • Workflow Template / Banking / Transaction Processing & Support

    Automated Clearing House (ACH) Operations
    The Automated Clearing House (ACH) Operations process involves the setup, payment and reporting of Automated Clearing House (ACH) transactions. This process includes ACH data input (submitted by the Cash Management Team), rejection/exception handling (resolve any rejections where possible), analysis of ACH run results and subsequent reporting to clients and regulatory agencies (the Fed). Repaired, rejected items should be documented manually before evaluation.
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  • Workflow Template / Banking / Direct Banking Operations

    Call Center: Account Closing
    The Call Center: Account Closing process involves the processing of customer account closing requests through the call center channel. This process includes customer profile verification, customer dissatisfaction reporting (i.e., determine why the customer wishes to close their account), pending transaction resolution and/or final account termination processing (to complete the account termination process, perform a fund transfer or bank draft). Any outstanding payments or transactions should be verifieed and paid before a customer account can be terminated. Due to the convenience of the process, phone and online account management activites have been increasing in the recent decade.
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  • Workflow Template / Banking / Direct Banking Operations

    Call Center: New Accounts
    The Call Center: New Accounts process involves the handling and completion of new account enrollments through the call center channel. This process includes discussing the account opening requirements, customer information collection (documents, customer forms, etc.), customer risk assessment, bank account enrollment and online user account setup (if the customer does not have the card with the account, customer should validate the account number and type before submitting confirmation). If the customer calls to receive a Telephone Access Code (TAC), ensure that a risk verification is performed and customer information is confirmed. That said, if a customer inquires about an E-statement set-up, redirect them to the website and walk then through the set-up steps.
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  • Workflow Template / Banking / Direct Banking Operations

    Call Center: Product Servicing
    The Call Center: Product Servicing process involves the processing and handling of inbound customer calls related to certain banking products. This process includes initial customer account verification (should fraud be suspected, contact the Fraud & Compliance Team), customer profile information change (gather new details, update and confirm profile changes), payment and transfer execution (all entered information should be verified with the customer before the transaction is process), and/or check and statement order requests (confirm requests, mailing address, etc.). Ensure that all transactional information is shared with customers.
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  • Workflow Template / Banking / Commercial Lending

    Campaign Management: Commercial Banking
    Campaign Management: Commercial Banking involves the development and management of promotional marketing campaigns for commercial banks. This process includes the development of a marketing plan (schedule, timeing, etc.), product training planning, budget and marketing plan approval, creative content creation and review and marketing performance data evaluation.
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  • Workflow Template / Banking / Treasury & Cash Management

    Cash Management Product Sales
    The Cash Management Product Sales process involves coordination between bank customers (or sales leads), sales representatives and cash management team members to educate, close and onboard new cash management customers. Sales representatives contact sales leads over the phone to discuss the bank's cash management service offering and determine if the lead has any interest. If they do, a request for information (RFI) is completed and sent to internal cash management team members to aid in answering the potential client's questions. If the lead decides to move forward, pricing details are negotiated and they are provided with the final paperwork to onboard and begin using the account.
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  • Workflow Template / Banking / Treasury & Cash Management

    Cash Vault Operations
    The Cash Vault Operations process involves the sorting, processing and balancing of cash vault deposits for retail and commercial clients. This process includes mail and duffel bag sorting (currency bag inspection), data entry (all information related to the inspected items should be recorded in the bank's computer system), item processing and money balancing (the day's currency & coinage should be balanced against the grand total tape). Tellers should submit any straps, coins and loose bills to the vault before obtaining currency from the verification tellers. Ensure that the end of day balances account for all information collected from all tellers, rooms and all sales, purchases and errors (a physical count of all money balances against all other activities and reports is recommended).
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  • Workflow Template / Banking / Transaction Processing & Support

    Cash Vault: Automated Clearing House
    The Cash Vault: Automated Clearing House process involves the transaction, setup and inspection of cash vault automated clearing house (ACH) payments. This process includes the review and approval/denial of Electronic Process Authorization (EPA) worksheets from Global Transport Management Systems (GTMS), account information verification and data entry, and fraud investigation/resolution (contact customer, informing him/her what has happened and follow any provided instructions). Numerous verification phases are necessary to ensure all account information is correct and no possibility of fraud exists.
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  • Workflow Template / Banking / Transaction Processing & Support

    Cash Vault: Automation & Data Entry
    The Cash Vault: Automation & Data Entry process involves the batch processing of payments from a bank's cash vault to retail clients, commercial institutions and/or Homeowners Associations (ACH payments). This process includes the reception of cash request orders, generation of scheduled automatic ACH payments, cash order sorting, teller assignments, bundled currency deliverence to teller stations, manifest order review, ending balance data entry (both beginning and ending balances must be reported), payment scheduling, payment audit/inspection, and final payment disbursement (via FTP, ACH or armored vehicle).
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  • Workflow Template / Banking / Commercial Lending

    Commercial Account Onboarding
    The Commercial Account Onboarding process involves the opening and enrollment of new commercial banking accounts. This process includes customer needs assessment, account verification (all application deficiencies and missing requirements must be identified and resolved before the account is opened), customer contact for application deficiency resolution, account opening (customer applications may go through numerous reviews before the account is opened) and final onboarding procedures.Commercial bank accounts mainly focus on businesses, corporations and other non-individual customers.
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  • Workflow Template / Banking / Commercial Lending

    Commercial Client Services (Account Maintenance)
    The Commercial Client Services (Account Maintenance) process involves the maintenance of commercial client accounts by several functional groups with little interaction between them. The commercial team sends out renewal notices and welcome packages, tracks documents and performs account actions. The treasury management team fields maintenance requests and performs actions or explains to the client why a request cannot be performed (this may occur when a product unavailable to the account/requiring separate enrollment is requested).
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  • Workflow Template / Banking / Commercial Lending

    Commercial Loan Sales (Large Client)
    The Commercial Loan Sales (Large Client) process deals with the sale of commercial loans to large business or institutional clients. This process kicks off with a call from a commercial loan officer to a commercial sales lead, or prospect. Prior to contacting the lead, the loan officer typically performs some research to understand the client's business. During the initial sales call, the loan officer gathers information regarding the client's needs. A package of documents, including potential loan options, is then prepared to present to the client. If the client decides to move forward, a good faith deposit is collected and the formal application process begins. During the application process, the client and loan processing/closing staff members coordinate to collect all requisite information and ensure that the loan terms are satisfactory.
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  • Workflow Template / Banking / Commercial Lending

    Commercial Loan Sales (SMB Client)
    The Commercial Loan Sales (SMB Client) process deals with the sale of commercial loans to small and medium-sized business (SMB) or institutional clients. "SMB" clients typically have less than 1,000 employees, but this threshold may vary from bank-to-bank. This process kicks off with a call from a commercial loan officer to a commercial sales lead, or prospect. Prior to contacting the lead, the loan officer typically performs some research to understand the client's business. During the initial sales call, the loan officer gathers information regarding the client's needs. A package of documents, including potential loan options, is then prepared to present to the client. If the client decides to move forward, a good faith deposit is collected and the formal application process begins. During the application process, the client and loan processing/closing staff members coordinate to collect all requisite information and ensure that the loan terms are satisfactory.
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  • Workflow Template / Banking / Commercial Lending

    Commercial Loans (General)
    The Commercial Loans (General) process involves the origination, underwriting and approval/denial of commercial loan applications. This process includes loan renewal documentation review (if necessary), loan application review (if necessary), customer needs assessment, credit analysis and final approval or denial of the loan based on the borrower's credit-worthiness. Ensure that all rejection decisions are communicated with the customers. Commercial loans are mainly given to businesses, corporations and other non-individual customers.
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  • Workflow Template / Banking / Consumer Lending

    Consumer Lending (General)
    The Consumer Lending (General) process involves the origination, approval, setup and verification of consumer loans. This process includes customer education on available loan products, loan application processing (application submission and review, identification and acquirement of any missing documentation), underwriting and final approval/denial of the loan. All approval or denial decisions must be communicated with the customer. Consumer loans, unlike commercial loans, are obtained by individuals.
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  • Workflow Template / Banking / Business Banking

    Correspondent Lending
    The Correspondent Lending process involves the sales of loans to correspondent lenders (i.e., banks, mortgage companies who close their own loans). This process includes correspondent lender application processing (application submission and review), application approval/denial, loan registration training (for correspondent lender), and the subsequent processing of loans closed by correspondent lenders.
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  • Workflow Template / Banking / Credit Cards

    Credit Card Collections
    Credit card collections is a process that involves the collection of outstanding credit card balances from individual customers (incoming and outgoing call processes). This process includes account verification (customer name, social secutiry number, account information, etc.), payment (partial or full) and promise to pay acceptance (if customer cannot pay at the time of the call). Debt collectors must provide the customers they contact with a recitation of what is known as the "mini-miranda rights" (an explaination that the call or contact is from a debt collector, that they are calling to collect a debt and that any information obtained during the contact will be used to collect the debt).
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  • Workflow Template / Banking / Fraud Prevention & Management

    Credit Card Fraud Resolution
    The Credit Card Fraud Resolution process involves the process for resolving a case of credit card fraud, which requires two functional groups: a specialist and an escalation & case team. The specialist acts as a CSR and interacts with the customer. The specialist can review transaction history with the customer, flag transactions for dispute or cancel/reopen a credit card. Cases that the specialist cannot resolve are forwarded to the escalation & case team, which then audits the specialist’s notes and takes the appropriate action.
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  • Workflow Template / Banking / Mortgage Lending

    Default Mortgage Loan Collections
    The Default Mortgage Loan Collections process involves coordination between customers (i.e., borrowers) loan servicing staff and collections team members to collect overdue loan balances (typically 30 or more days past due). This process includes the generation of a list of borrowers who are carrying past due balances, the pass-off of this list to the collections team and subsequent tasks related to collecting the past due balance or adjusting the terms of the loan to assist the borrower with payment (loan modification, deferements, etc.).
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  • Workflow Template / Mortgage Banking / Loan Servicing

    Deferments & Forbearance
    The deferments & forbearance process involves the review and documentation of deferment or forbearance requests from debtors. A deferment is a temporary suspension of a customer's required minimum monthly loan payments (common component of student loan repayment practices). Forbearance, on the other hand, can either reduce or temporarily suspend loan payments. This process includes deferment and forbearance request reviews (for eligibility, etc.), approval or denial of request, mailing of verification letters and updating debtor account information.
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  • Workflow Template / Banking / Direct Banking Operations

    Direct Banking: New Accounts
    The Direct Banking: New Accounts process involves the processing of requests for new banking accounts from retail customers. This process includes new account form completion and inspection (all application forms must be completed in its entirety before the account can be created), customer information verification, account opening and preparation of the welcome kit. Ensure that customers are informed of all requirements, fees and decisions (acceptance or denial) concerning the opening of their account.
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  • Workflow Template / Banking / Investment Management

    Estate Administration
    The Estate Administration process is triggered when a customer who has a trust account with the financial institution (bank, investment manager, etc.) passes away. Acting as the executor of the deceased's estate, the financial institution then summarizes all of the assets included in the estate to prepare for distribution to the listed beneficiaries. The bank then drafts an asset distribution schedule that is sent to all of the beneficiaries. Once the assets have been distributed, the financial institution collects their cut for manging the estate, and attorneys prepare the appropriate documentation to close the account.
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  • Workflow Template / Banking

    Financial Product Development
    Financial Product Development deals with the initial concept development (sometimes called "ideation"), market analysis, product documentation development, internal approval and regulatory registration for new products launched by Financial Services companies (e.g., banks, insurers, investment managers, etc.). Financial products may include credit cards, insurance coverage, investment products (e.g., exchange traded funds, etc.), savings accounts and deposit accounts. Product Development teams, product managers and line of business executives coordinate to conduct full-scale cost/benefit and market analysis to determine if the product is viable. If the product is approved internally, documentation is compiled and submitted to regulatory agencies for approval. If the product is approved by the appropriate regulatory bodies, the teams must then prepare for a full-scale market launch.
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  • Workflow Template / Banking / Investment Banking

    Foreign Exchange: New Accounts
    The Foreign Exchange: New Accounts process involves the assessment and setup of institutional foreign exchange accounts. This process includes confirmation that customer meets the requirements necessary to open an account, risk assessment and financial compliance completion, opportunity identification, information review, foreign exchange trade form completion and review (ensure that all agreements and documentation is signed by the customer), account setup and finalization. Before notifying the customer that the account has been set up, it is best to perform a secondary check of the account information.
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  • Workflow Template / Banking / Investment Management

    Institutional 401k Management
    Institutional 401k Management refers to a collection of processes related to opening, maintaining and closing 401k accounts for insitutional, or commercial, clients. Customers and financial advisors work together to open the account. All requisite information is gathered, processed and reviewed for accuracy. If the client meets certain risk criteria, their account is opened and all appropriate data is added to company systems. After the account has been opened, reviews are performed (typically annually) periodically to ensure that the account is in good standing.
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  • Workflow Template / Banking / Investment Banking

    Institutional Investment Plan Implementation
    The Institutional Investment Plan Implementation process involves coordination between institutional (i.e., business or commercial) investors, financial advisors, client services staff and compliance/risk management team members to develop and implement customized investment strategies. Initially, financial advisors and client relationship managers work with the investor to understand their needs and investment goals. A strategic investment plan, implementation timeline and service agreement are then drafted and reviewed by the investor. If those items are approved by both the investor and internal compliance/risk management team members, the details are then sent to the back office (Trade Operations & Support) where the reporting and execution of the investment plan in setup.
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  • Workflow Template / Banking / Platform Operations

    International Banking: New Accounts
    The International Banking: New Accounts process involves the enrollment and processing for new customer international account(s). This process includes identification of customer account needs, customer information reception, new account approval (obtained through the Customer Selection Committee), account underwriting (data entry, identification review, required documentation completion, customer contact selection) and final account enrollment processes (account is set up for international wiring, account information is loaded, encrypted welcome email is sent to client).
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  • Workflow Template / Banking / Online & Mobile Banking

    Internet Banking: Account Information Update
    The Internet Banking: Account Information Update process involves the processing of self-administrated customer information updates through the internet banking channel. This process includes online banking profile log in and customer led profile information change (once the correct options have been chosen and the information updated, ensure that all the information is correct). Should the account information update require additional processing, a customer service representative will review and verify the request before updating the customer profile and notifying the customer.
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  • Workflow Template / Banking / Online & Mobile Banking

    Internet Banking: Customer Communication
    The Internet Banking: Customer Communication process involves the request and fulfillment of customer requests through the internet banking channel (customer complaint resolution, bank account preference changes and monthly e-statement generation). Customers with complaints should submit the complaint through the bank's website, which, once received will be reviewed and sent to the Contact Center for investigation. To change preferences, a customer should select the required option and update their personal information and preferences within the bank's website. The information is then received, reviewed, fulfilled and logged. To generate an e-statement, the bank's computer system compiles transactional data, exports it into a finalized file format and emails the documents to the customer.
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  • Workflow Template / Banking / Online & Mobile Banking

    Internet Banking: New Accounts
    The Internet Banking: New Accounts process involves customer account enrollment, underwriting and approval for new accounts through the internet banking channel. This process includes initial customer self-enrollment (log into the website, select product, validate information, receive a request denial if unqualified for the account, fund the account, open account), customer account risk assessment (a post-account opening review is performed if the customer is found to be risky) and final customer account approval.
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  • Workflow Template / Banking / Online & Mobile Banking

    Internet Banking: Product Servicing
    The Internet Banking: Product Servicing process involves the servicing and fulfillment of customer banking products though the internet banking channel. This process includes online bill payment (ensure that all information is verified before confirming payment), bank-to-bank funds transfer (ensure that customers receive a request confirmation before completing the funds transfer) and wire transfers (make sure to review selected wires before processing them). Due to intense competition between banks (especially with the online market), exceptional customer service has become increasingly important.
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  • Workflow Template / Banking / Investment Management

    Investment Data Collection & Reporting
    The Investment Data Collection & Reporting process involves coordination between financial advisors, analysts and investment management clients (retail and/or institutional) to produce reports detailing investment account performance over time (against the market). Many data sources, including Bloomberg, Capital IQ and other market data providers, are used to compile the requisite data. Once the appropriate data has been collected, it is uploaded to proprietary company systems. In some cases, clients may be able to log into the system without assistance from a financial advisor (i.e., self-service). In other cases, a report must be generated and manually sent to the client for review. After reviewing these reports, customers may request additional detail or pose questions related to the content of the report.
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  • Workflow Template / Banking / Investment Management

    Investment Escrow Account Management
    The Investment Escrow Account Management processes are aimed at ensuring that investment management customer escrow accounts are properly maintained and in compliance with all federal regulations. When the account is opened, an escrow services agreement is signed by the client and the financial institution performs a series of compliance checks prior to activating the account, including Know Your Customer (KYC) data collection/entry. Throughout the life of the account, the financial institution monitors account activity to identify and act upon any suspicious activity.
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  • Workflow Template / Banking / Investment Management

    Investment Management Client Services
    The Investment Management Client Services refers to a set of processes and tasks related to developing investment strategies for investment management. This process differs slightly for retail (private wealth management) and commercial, or institutional, clients. Financial advisors initially work to collect information related to the client's goals and risk appetite. After they have the required information, they develop and present investment options to their client. If the client approves the strategy, the financial advisor sends the details of the transaction to the trading desk (or exectues the transaction electronically) for execution.
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  • Workflow Template / Banking / Investment Management

    Investment Management New Business
    The Investment Management New Business process differs slightly for retail, private wealth management (for high-net-worth individual investors) and institutional accounts. The retail investment account new business process is the most simple - new customers simply meet with financial advisors who recommend options and work with the customer to open and configure their account. Private wealth management, or high-net-worth, clients receive a bit more 'white glove' treatment, but the process is similar to the retail new business process. For businesses, or institutions, the new business and account opening process typically involves more meetings/presentations and requires additional paperwork and information to be collected prior to opening the account.
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  • Workflow Template / Banking / Transaction Processing & Support

    Item Processing
    Item Processing involves the processing and verification of cash tickets and general ledger (G/L) tickets ('items'). This process includes transaction processing (ensure that cash tickets are separated from the general ledger and that all paper items are imaged before processing), batching, statement creation and fraud inspection of bank transactions, clearing house transactions, savings items and payments to the Federal Reserve. Item processing essentially converts data from source documents, such as checks and customer transaction tickets, to formats that can be processed electronically.
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  • Workflow Template / Banking / Loan Operations

    Loan Origination Workflow Template
    The Loan Origination process involves four functional groups (Sales, Underwriting, Client Liaison and Closing Desk) in the origination of a loan. Sales transmits a new loan application to Underwriting, which either accepts or rejects the application. Second review and cross-selling may take place soon afterwards. The Liaison then contacts the client, explains a decision and asks for documents. If the application survives, the Liaison coordinates with Underwriting to finalize the loan, and Sales notifies the client before beginning the onboarding procedures. Finally, Closing enters the new account into the institution's computer system.
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  • Workflow Template / Banking / Loan Servicing

    Loan Servicing
    Loan Servicing involves the generation and review of new loans and their subsequent maintenance (loan information updates), payments and payoffs. This process includes loan package transmission (loan officers should ensure that all required information is available processing the loan), borrower debt verification, compliance review, initial payment and the processing of loan payoff requests (archive all loan information once payoff is completed). Due to the multitude of loan options out there, ensure that any customer who asks for a loan is informed on what is available, and on the loan procedures themselves.
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  • Workflow Template / Banking / Treasury & Cash Management

    Lockbox Operations (General)
    Lockbox Operations (General) involves the setup and sales of lockbox products for banking customers and the subsequent processing and reporting of lockbox payments. This process includes lockbox product sales, payment setup, lockbox payment reconciliation and balancing, and the generation of transaction receipts for lockbox customers. All payment documents should be scanned and archived when received. Lockbox services essentially allow companies to receive payments from customers through a special post office box handled by a bank.
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  • Workflow Template / Banking / Mortgage Lending

    Mortgage Loan Closing
    The Mortgage Loan Closing process involves closing a new mortgage using the closing group, an underwriting group and a post close group. Closing receives a newly approved mortgage from underwriting and schedules a meeting for the official close. Closing then confirms the date, the initial interest rate, files the mortgage and issues an authorization number. If the loan is not properly closed at this time, it returns to the servicing department for amendments. Otherwise, the meeting date is in force and the mortgage is sent to post-close.
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  • Workflow Template / Banking / Mortgage Lending

    Mortgage Loan Foreclosure
    Mortgage Loan Foreclosure includes a set of processes that are triggered when a borrower is 60 or more days past due on their mortgage loan payments. The foreclosure process begins with a letter sent to the borrower when their loan deliquency has reached a certain threshold - typically 60 or more days past due (60+ DPD). At that point, the borrower is presented with options to complete payment or modify their loan to avoid foreclosure. If the lender and borrower cannot reach an agreement, the property moves into foreclosure - during this time, the bank inspects the property to assess its value and condition, and prepare for sale.
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  • Workflow Template / Banking / Mortgage Lending

    Mortgage Loan Origination
    The Mortgage Loan Origination process involves coordination between customers (borrowers), mortgage loan officers and mortgage loan application processing and support staff to collect and assess mortgage loan applications. The mortgage loan officer communicates with the potential borrower to collect information and determine if their financial health is up to par with the bank's lending standards. If the borrower's credit is in line, the loan officer and loan support staff members work to educate the borrower on their options, collect all required documentation, and package everything together (pay stubs, account statements, credit reports, etc.) to pass off to the underwriting team for final review.
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  • Workflow Template / Banking / Mortgage Lending

    Mortgage Loan Risk Assessment
    The Mortgage Loan Risk Assessment process involves coordination between borrowers, loan officers and loan risk assessment employees (Underwriters) to approve or deny a mortgage loan based on the borrower's credit history, as well as several other factors (loan-to-value ratio, current financial standing, monthly income, etc.). This process also involves the post-approval input of all customer documents and information into the lender's system and the subsequent review of all materials to determine wif any other information (insurance, additional documents, etc.) is required to complete the closing process.
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  • Workflow Template / Banking / Mortgage Lending

    Mortgage Loan Setup
    The Mortgage Loan Setup process involves three functional groups (loan officer, team support and underwriting) in the setup of a mortgage loan. Mortgage Loan Officers gather all necessary information, documents and payments from the potential borrower before sending all required documents to the team support. Team support then processes the new application and forwards it to underwriting, which evaluates the application. If denied, the client is notified by the loan officer and the denial is logged. A second review may take place. If the application survives, the loan officer notifies the client of approval.
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  • Workflow Template / Banking / Mortgage Lending

    Mortgage Loan Underwriting
    The Mortgage Loan Underwriting process involves the detailed review of borrower mortgage applications by the underwriting team. This process includes the reception of applications from loan officers (ensure that all necessary information and documentation from the applicant), desktop underwriting, information correction or additions by loan officers, second reviews (if necessary) and final approval or denial of the application. Ensure that customers are informed upon the decision of the loan application. If the application is denied, the reason for the denial should be explained.
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  • Workflow Template / Banking / Mortgage Lending

    Mortgage Loss Mitigation
    The Mortgage Loss Mitigation process involves coordination between borrowers, loan servicing staff and third-party real estate brokers (or appraisers) to assess potential loan modification options for the borrower(s). This process includes the initial completion of loss mitigation forms by the borrower, the review of those forms by loan servicing staff and, finally, the proposal of potential loan modifications to help the borrower complete payment and avoid foreclosure. This process may also involve the inspection of the borrower's property to inform loan servicing staff in crafting loan modification options.
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  • Workflow Template / Banking / Mortgage Lending

    Mortgage Payment Processing
    The Mortgage Loan Payment Processing process includes the reception of borrower loan payments through the internet or physical mail, the subsequent review of customer payment history, and the matching of borrower payment(s) to their loan balance and agreed upon installment payments. In some cases, borrowers my choose to pay off the entire balance of their loan (i.e., a loan "payoff") - in this situation, loan servicing staff must calculate the entire remaning balance and collect said amount from the borrower. In the case of an over/underpayment, loan servicing staff will communicate the payment error to the borrower and ensure that they either submit the remaining balance (underpayment) or put the excess amount into their escrow account (overpayment). This process involves coordination between borrowers, loan accounting staff and loan servicing team members.
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  • Workflow Template / Banking / Mortgage Lending

    Mortgage Post-Close Servicing
    Mortgage Post-Close Servicing processes involve coordination between borrowers, loan servicing staff and escrow account management staff to ensure that all tax and insurance related payment/documentation is in order prior to fully transitioning the loan over to the lender's loan servicing team. This includes ensuring that the borrower has the appropriate insurance coverage (private mortgage insurance, homeowners insurance, flood insurance, etc.) and configuring escrow account(s) to process property tax payments.
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  • Workflow Template / Banking / Investment Management

    Portfolio Implementation
    The Portfolio Implementation process involves three functional groups (Portfolio Managers, Money Managers and the Portfolio Implementation Team) in implementing a new business strategy. The Portfolio Group alerts the Implementation Group about a change in strategy. Implementation coordinates with Money Managers to build a risk assessment and documentation. Portfolio uses this information to make a set of strategy guidelines and sends it to Implementation, which works with the Money Managers to make changes to the portfolio.
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  • Workflow Template / Banking / Retail Branch Management

    Retail Branch: Account Information Update
    The Retail Branch: Account Information Update process involves the servicing and administration of customer profile information changes through the branch channel. This process includes customer walk-in and profile change request submission, initial customer authorization (personal information is provided, customer identity is confirmed or denied), categorization of request type (name change, address change), change request processing and verification. Ensure that the customer's signature is obtained and verified before the profile change is finalized.
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  • Workflow Template / Banking / Retail Branch Management

    Retail Branch: Client Services
    The Retail Branch: Client Services process involves the resolution and fulfillment of banking branch customer issue submissions and statement distribution This process includes customer dissatisfaction investigation (requires the customer to submit a complaint first, whether expressed after walking into the bank or by submitting a written complaint), issue resolution (ensure that the customer is notified that the issue is resolved or if more time is needed for further investigation) and monthly account statement distribution (both physical and eStatements). If issues are unable to be resolved in a timely fashion, ensure that the issue is escalated to a manager.
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  • Workflow Template / Banking / Teller Tasks

    Retail Branch: Inbound Transactions
    The Retail Branch: Inbound Transactions process involves the acceptance and processing of incoming customer fund transactions. This process includes customer cash/check deposit initiation (requires that the customer walks into the bank and provide their deposit information), deposit processing (whether for checks or cash deposits) and inbound wire transfer operations (risk and compliance checks should be performed before the wire transfer is finalized). Ensure that all finalized deposits are reported to the US Treasury Department as well as the customer.
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  • Workflow Template / Banking / Teller Tasks

    Retail Branch: Money Withdrawal
    The Retail Branch: Money Withdrawal process involves the service and execution related to customer outbound money transactions. This process includes customer walk-in, transaction request submission, initial authorization, transaction processing and final cash reception (occurs both for cashing in a check and money withdrawals). If fraud is detected when the customer attempts to cash in a check, inform the client the transaction cannot be completed and ensure that a suspicious activity report is filed.
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  • Workflow Template / Banking / Platform Operations

    Retail Branch: New Accounts
    The Retail Branch: New Accounts process involves the inquiry, processing and fulfillment of the customer new account enrollment operation through the branch channel. This process includes customer walk-in, the initial customer new account request, customer information acquisition and validation, credit and risk check, customer account setup and enrollment completion (includes a post-account opening review). Ensure that customers are aware of any and all requirements associated with opening a new account.
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  • Workflow Template / Banking / Private Wealth

    Retail Trade Capture & Entry
    Retail Trade Capture & Entry refers to a set of activies and sub-processes related to collecting information regarding trades from retail (i.e., non-business/commercial investors) investors and executing trades based on the investor's "order." After the trade details have been captured, they are sent to the middle office for validation. Concurrently, client services staff will ensure that the proper funds are in place to execute the trade. After the trade is successfully executed, a confirmation is sent to the client. In some cases, post-trade adjustments (on day T+1) are required to complete the trade.
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  • Workflow Template / Banking / Trade Operations & Support

    Retail Trade Support
    The Retail Trade Support process involves coordination between retail investors, trade operations and support staff (middle/back office) and customer service team members to detect and resolve errors, or exception, related to trades. This process is triggered when a trade operations and support team member receives an error, or exception, related to a trade they are attempting to execute. The trade support team member then sends a list of all unresolves trade exceptions to the customer service group for investigation and resolution.
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  • Workflow Template / Banking / Retirement Services

    Retirement Services Workflow Template
    The Retirement Services (Direct Sales) process involves coordination between retirement services sales prospects (i.e., callers), call center representatives and financial advisors to educate and close potential retirement services clients. The process is triggered by a call from a potential customer looking to gather information about the financial institution's retirement investment products and services. The call is received by a call center representative who then verifies the idenfity of the caller and transfers them to a financial advisor, or retirement services representative/specialist. The financial advisor and caller then discuss potential options and next steps related to the bank's retirement services.
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  • Workflow Template / Banking / Commercial Lending

    Small Business (SMB) Lending
    The Small Business (SMB) Lending process involves the processing and approval/denial, documentation and maintenance of small business loans. "SMB" clients typically have less than 1,000 employees, but this threshold may vary from bank-to-bank. This process includes customer walk-in (proceeds meeting with the loan officer to determine the customer's needs) or contact (loan officers typically research a prospect to understand the client's business before contact), application submission, borrower financial information collection, credit investigation, closing, initial funding and notification generation. Loan officer's should request additional information from the customer if the loan application is missing information or important documents.
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  • Workflow Template / Banking / Consumer Lending

    Student Loan Sales (Secondary Market)
    The Student Loan Sales (Secondary Market) process involves coordination between multiple financial institutions (banks, broker/dealers, loan servicers, etc.), marketing staff, sales representatives, sales support team members and credit/risk management staff to market and sell educational loans (i.e., student loans) on the secondary market. Loans originated by banks, or other loan originators, are often "bundled" and sold to third parties on the secondary market.
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  • Workflow Template / Banking / Investment Management

    Trade Analysis & Reporting
    The Trade Analysis & Reporting process involves coordination between many internal departments and senior portfolio managers to gather data, perform analysis and generate reports related to trading positions, liquidity, profit/loss (P&L), risk management and trade errors. At the end of a trading day (T+0), data is pulled from company systems by various parties throughout the organization. During the following business day (T+1), that data is analyzed and used to produce reports that will be distributed to senior leadership and other stakeholders throughout the firm. Similar reports are produced and distributed at the end of each month.
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  • Workflow Template / Banking / Sales & Trading

    Trade Execution
    Trade Execution refers to a set of work activities aimed at researching, capturing, filling, monitoring and adjusting trades and trade positions. Initial research is performed by portfilio managers, their teams (investment analysts or associates) and trading couterparties. Once they have reached a concensus on the details of the transaction, they pass the information off to the middle/back office (trade operations and support) for completion. After the trade has been booked and executed, portfolio managers and their teams review the performance of the transaction and scale the position up or down based on the performance data they are seeing.
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  • Workflow Template / Banking / Trade Operations & Support

    Trade Fill & Confirmation
    The Trade Fill & Confirmation process involves coordination between trading parties as well as both front office (sales and trading) and middle/back office (trade operations and support) staff to satisfy (i.e., fill) trade orders and confirm the trade details with the couterparty. Front office sales and trading team members collect the trade details and send an order to the middle/back office for fulfillment. After the trade order has been input, and any trade breaks or entry errors have been resolved, the trade is sent to the execution desk for completion.
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  • Workflow Template / Banking / Trade Operations & Support

    Trade Reconciliation
    Trade Reconciliation refers to a set of post-trade activities (typically T+0 or T+1) related to identifying and resolving trade breaks. A trade break, or failure, can occur for many reasons: mismatched prices or amounts, incorrect accounts listed, misallocated bunches, insufficient funds, etc. The trade operations and support team (middle/back office) is responsible for reviewing all trades executed over a certain period of time and compiling a list of errors, or exceptions, to review. They then send that list to the trading execution desk to gather information on the trade breaks to assist with resolution. The front and middle/back office team members collaborate to identify and resolve the "true" trade breaks. The trade data is updated to correct the breaks, and all systems are updated to reflect these fixes.
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  • Workflow Template / Banking / Trade Operations & Support

    Trade Research & Entry
    The Trade Research & Entry process involves coordination between investment analysts (sometimes referred to as "associates"), portfolio managers, and middle/back office trade operations and support staff to research and enter trade details in preparation for trade execution. Portfolio managers analyze data and reports from their army of analysts to determine the details of the trade they are looking to make. Once the details have been outlined, the portfolio manager submits the information to the trade execution desk, where the details are entered either manually or electronically. If an error is detected in the trade entry, the trade support team is responsible for resolving and updating the trade error to ready the transaction for execution.
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  • Workflow Template / Banking / Trade Operations & Support

    Trade Review & Settlement
    The Trade Review & Settlement process involves coordination between front office trading staff (investment analysts, associates), trade operations and support team members (middle/back office) and any third party financial institutions to perform reviews of recently executed trades to ensure that any failures are addressed in a timely fashion. If a trade discrepancy is detected, the trading party and the counterparty discuss methods for resolving the failure and work with trade operations and support staff members to resolve the issue. After the issue is resolved, the trade is settled and data is updated and re-entered where needed.
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  • Workflow Template / Banking / Investment Management

    Trust Accounts (Product Life Cycle)
    The Trust Account (Product Life Cycle) process involves the initiation, maintenance and closing of investment trust accounts. This process includes the reception of customer trust account related inquiries, product needs analysis, customer risk assessment, account opening, asset allocation, informational change request processing (ensure that customers are informed once the change has been made) and account closing. Once the account has been closed, it is recommended that all asset transfers are tracked to ensure they have been distributed correctly.
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  • Workflow Template / Banking / Private Wealth

    Wealth Management Account Closing
    The Wealth Management Account Closing process involves coordination between existing private wealth management customers, financial advisors, and client services (accounting and reporting) staff members to terminate customer accounts and produce all required post-closing documentation. When an account closure request is received from a customer, financial advisors and client services staff members work to ensure that the account closure is approved, and that any remaining funds are transferred to the correct location.
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  • Workflow Template / Banking / Private Wealth

    Wealth Management Account Onboarding
    The Wealth Management Account Onboarding process involves coordination between new retail private wealth management customers, financial advisors and client services team memebrs to setup and configure new investment accounts. Customers work with financial advisors, or representatives, to setup new accounts by providing all required information. Once the account has been verified and approved, client services team members assist the new account holder with performing the initial fund transfer and also educate the new client on performing future transactions (trades, disbursements, transfers, etc.).
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  • Workflow Template / Banking / Transaction Processing & Support

    Wire Transfers
    The Wire Transfers process involves the setup, approval and execution of electronic wire transfers to receiving banks and financial institutions for individual customers. This process includes customer request notification, transfer of funds authorization and verification, evaluation of sufficient funds (if there are insufficient funds, the customer and the customer service representative must be notified), wire payment processing (if the wire is going to a new destination, all relevant information must be verified), wire rejection (if necessary due to incorrect instructions or information), fund distribution and the acceptance or denial of funds by the receiving bank. Ensure that the customer is informed of all rejected wire transfers and the reasons behind them.
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