New Account Quality Control Review

Post-opening quality control inspection for a sample of new accounts to verify CIP completion, signature cards, disclosures, beneficial ownership documentation, and required recordkeeping.

Review Scope and Account Identification

• Account number or unique file ID recorded
• Account type and ownership structure identified
• Opening date falls within review sample period
• Reviewer notes sample selection method

Customer Identification Program (CIP) Review

• Customer name matches account records
• Date of birth or formation date captured as applicable
• Tax identification number or alternate identifier captured
• Physical address or principal business address captured
• Identity verification method documented
• CIP exceptions or missing items documented and escalated
• Government list screening completed where required

Signature Cards and Account Authorization

• Signature card present in file
• All required signatures obtained
• Signer authority matches account ownership and resolutions
• Signature card legible and fully completed

Disclosures and Required Notices

• Required account disclosures present in file
• Disclosures match account type and product features
• Customer acknowledgment or evidence of delivery documented
• Any exceptions or late deliveries documented with approval

Beneficial Ownership and Business Account Documentation

• Beneficial ownership certification completed when required
• Beneficial owners identified and documented
• Control person or authorized signer documented

File Integrity, Exceptions, and Closeout

• All reviewed documents are complete and legible
• Deficiencies or non-conformances documented
• Corrective action owner and due date assigned
• Inspector signature completed