2nd Attempt – Daily FDIC, RF4059 Maintenance

[Tina Allen]

Our Deposit Operations Team at WTB spend an average of 3 hours per day in performing FDIC maintenance on new accounts opened from the previous day to ensure correct coding for FDIC coverage and call reporting. We work the information from the Synergy RF4059 report.
Do all banks perform this same maintenance?
Has anyone found a more efficient way to complete this maintenance?

Thank You!

[Paula Stamper]

Hi Tina!

We made the Category, Relationship and Percentage fields required during account opening and trained staff on how those should be filled out. The exception report gets reviewed and corrections made as needed.

[Author]

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