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FIL-32-2006 Attachment B
Notes
 

FDIC connect Registration Process Overview and Registration Instructions For Designated Coordinators (DC) and Users

There are two different types of bank access:

  1. Coordinator
  2. User

The FDIC must approve all Coordinator requests, but the FDIC plays no role in user access approval. Keep in mind the following:

  • Coordinators and users can be associated with more than one institution; however, a Coordinator must be registered separately for each institution.
  • Coordinators must assign access to transactions to themselves and to other users as appropriate.

FDIC connect - DC Registration Process 

The FDIC encourages all financial institutions that have not yet registered to use FDIC connect to do so by completing a Designated Coordinator (DC) Registration Form 1 and faxing the completed form to (703) 465-5313 . (Please note that while an institution may have provided its Summary of Deposits or participated in a post-exam survey using FDIC connect , it may not yet have registered for continued access to the system.) This registration, by requiring the signature of an Executive Officer of the financial institution, assures that each institution's management is aware of the principal person on its staff who "speaks for the institution" when using FDIC connect . More details about the Coordinator's responsibility are provided below.

Since the FDIC will rely on the actions taken by the Coordinator and those users who are given access to various transactions by the Coordinator, it is important that the institution choose the Coordinator carefully and that controls be implemented to address operational risks inherent in online transactions. When a Coordinator is assigned bv the bank and approved by the FDIC, FDIC connect staff will provide that individual with technical guidance for using FDIC connect .

After completing the registration process, the Coordinator may grant other individuals access to execute transactions on behalf of the institution. These users can be employees of the institution, the holding company, an outside data servicer, a law firm, or individuals who need to submit a beneficial ownership filing.

When appropriate, such as in the case of data servicers, FDIC connect users may execute transactions on behalf of more than one institution. Coordinators and Users must register only once to be associated with one or more institutions. However, a separate DC form must be returned to the FDIC for each institution that the Coordinator wishes to access.

Registration Instructions For Designated Coordinators (DC) 

The steps below summarize the Coordinator registration process:

  1. DC Registration Form is received by the FDIC.
  2. The FDIC validates the authorizing official.
  3. A Welcome email is sent to Coordinator; it includes the registration web link and lists the next steps to continue the registration process.
  4. Coordinator must complete the online registration form as described in the Welcome email.
  5. After completing the on-line registration, FDIC connect automatically sends the Coordinator a system-generated temporary PIN via email.
  6. Coordinator must then login with temporary PIN to complete the registration process by requesting association with the institution and choosing the Coordinator role.
  7. FDIC connect help desk receives an email to approve the institution's Coordinator.
  8. Access is granted and an approval email is sent to Coordinator.
  9. Coordinators can then assign access to any transactions to themselves.

Registration Instructions For Users 

Once a coordinator is approved, the coordinator may grant access to other bank users . The following steps outline this process:

  1. Coordinator must manage institution access (by selecting "Restricted" access status to allow additional user registrations) and specify domain names (e.g., @bigbank.com) from which registration requests will be accepted.
  2. Users request access to FDIC connect by completing the online registration form.
  3. FDIC connect automatically responds with email that includes a temporary PIN.
  4. Users access FDIC connect with PIN, request association with an institution, and choose the role of User.
  5. Coordinator receives an email and the "Pending Users" caption on the FDIC connect Coordinator's "dashboard" indicates that there is a user awaiting approval.
  6. Coordinator approves the User's association with institution.
  7. FDIC connect generates an email to User, indicating approval.
  8. Coordinator provides User with access to one or more transactions as appropriate.

1 The form may be obtained by contacting the FDIC at FDIC connect @fdic.gov or by calling toll-free, 877-275-3342, and selecting FDIC connect , option 5, from the Bankers Menu.