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Zions Terms Flashcards

1
Q

Zions Bank Terms

FAH

A

Oracle’s Finance Accounting Hub - implement a centralized accounting rules engine to oversee and standardize data feeds from all source systems to the future COA enabling a single source of truth - Part of FACC

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2
Q

Zions Bank Terms

OFAC

A

Office of Foreign Assets Control - monitors how much other countries own of US assets, and can ban transactions.

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3
Q

Zions Bank Terms

SAR

A

In financial regulation, a suspicious activity report (or SAR) is a report made by a financial institution about suspicious or potentially suspicious activity. The criteria to decide when a report must be made varies but generally is any financial transaction that does not make sense to the financial institution, is unusual for that particular client or appears to be done only for the purpose of hiding or obfuscating a transaction (like the $10K transaction threshold). The report is filed with FinCEN. Front line staff in the financial institution have the responsibility to identify transactions that may be suspicious and these are reported to a designated person that is responsible for the reporting the transaction. The financial institution is not allowed to inform the client or the parties to the transaction that a SAR has been lodged.

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4
Q

Zions Bank Terms

UOB

A

Universal Online Banker, a product being built for Treasury by ACI. It will replace the current product, TIB also from ACI. It was an $8 mill project, and Aimee says it needs to come back for more funding, and thinks it may get shutdown. Right now there is an issue where the new UOB product is requiring MQS (IBM) version 8 and the for client v8 where the current TIB (ACI) requires v7.1 and in late arch move by ACI, they need the UOB to connect to the old MQS (version 7.1). Ibm doesn’t support connecting a v8 client to v7.1 server.

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5
Q

Zions Bank Terms

viewpoint

A

Vendor is Viewpoint (based on IBM’s cmod) Imaging system check images go there for 7 years - filenet is different a types of systems, filenet is not a high bandwidth so couldn’t handle checks, filenet handles loan docs

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6
Q

Zions Bank Terms

CRA Wiz

A

Our tool for dealing with the Community Reinvestment Act - from Walters-Klewer

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7
Q

Zions Bank Terms

FACC

A

Finance Architecture and Chart Change program. Part of the Big 5

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8
Q

Zions Bank Terms

Redlining

A

in the United States, redlining is the practice of denying services, either directly or through selectively raising prices, to residents of certain areas based on the racial or ethnic makeups of those areas. While some of the most famous examples of redlining regard denying financial services such as bankingor insurance,[2] other services such as health care [3] or even supermarkets,[4] can be denied to residents to carry out redlining.[5] The term “redlining” was coined in the late 1960s by John McKnight, a sociologist and community activist.[6] It refers to the practice of marking a red line on a map to delineate the area where banks would not invest; later the term was applied to discrimination against a particular group of people (usually by race or sex) irrespective of geography.

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9
Q

Zions Bank Terms

Frontier

A

Something about reconciliation. SaaS company

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10
Q

Zions Bank Terms

Cims

A

For Imaging - sits of both Viewpoint and Purity, temporary 45 day store before being archived to viewpoint, It does checks but also some loan docs

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11
Q

Zions Bank Terms

CCAR

A

Comprehensive Capital Analysis and Review. It is the Bank Stress Test process, QRM (Quantitive Risk Management) is Zion’s system that does this.

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12
Q

Zions Bank Terms

ALEX

A

sits in front of appro to the xml import /export wl online and cc online send items to this.

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13
Q

Zions Bank Terms

Us Banks Total Assets

A

is about 12 trillion dollars (1780 banks) as of march 2016. source: http://www.federalreserve.gov/releases/lbr/current/ $16 Trillion by another source http://www.usbanklocations.com/bank-rank/total-assets.html they listed 6,191 banks). Total worldwide banks is about $142-145 Trillion. source: http://www.statista.com/statistics/421215/banks-assets-globally/. Credit Unions are in the US are about $1.1 Trillion

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14
Q

Zions Bank Terms

Cenlar

A

Mortgage system

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15
Q

Zions Bank Terms

CECL

A

Current Expected Credit Loss (CECL) - an FACC project - they pronounce it “cecil”

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16
Q

Zions Bank Terms

NSB

A

Nevada state bank

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17
Q

Zions Bank Terms

KYC

A

Know Your Customer - The objective of KYC guidelines is to prevent banks from being used, intentionally or unintentionally, by criminal elements for money laundering activities. Related procedures also enable banks to better understand their customers and their financial dealings. This helps them manage their risks prudently.

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18
Q

Zions Bank Terms

Right Fax

A

fax’s in from legal and insurance companies, for loans

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19
Q

Zions Bank Terms

UPF

A

Universal Payment Framework - A part of the UOB (ACI) product.

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20
Q

Zions Bank Terms

ACLS

A

Loan Servicing System for consumer loans, it is getting replaced by FutureCore. I don’t know the vendor or the Acronym

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21
Q

Zions Bank Terms

MTS

A

I think this is the app we use to do wire transfers

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22
Q

CTR

A

A currency transaction report (CTR) is a report that U.S. financial institutions are required to file with FinCEN for each deposit, withdrawal, exchange of currency, or other payment or transfer, by, through, or to the financial institution which involves a transaction in currency of more than $10,000.

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23
Q

Zions Bank Terms

FinCEN

A

Financial Crimes Enforcement Network - a US Gov agency

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24
Q

Zions Bank Terms

GRC

A

Governance, Risk and Compliance

25
Q

Zions Bank Terms

LCRS

A

Patriot Officer is replacment LCRS for FinCEN reporting. LCRS (Large Currency Reporting System) is a main frame application which is used to file CTRs (Currency Transaction Report) with FinCen as mandated by the regulatory bodies (BSA). LCRS was discontinued by the manufacturer in 2013 and Zions made arrangement to buy the code as an interim measure to account for regulatory changes and bug handling. This is part of the Bank Secrecy Act, I don’t think LCRS is an acroynm used outside the bank. Patriot Officer is a web app, on-prem, based on MS stack.

26
Q

Zions Bank Terms

DRM

A

Oracle Data Relationship Manamagement. Related to DRG. define, create and govern financial data centrally for the Bancorp; implement COA management policy to ensure consistent use of COA, hierarchies and related metadata - Part of FACC

27
Q

Zions Bank Terms

IFX

A

Interactive Financial Exchange (IFX) is an XML specification for financial transactions such as bill presentment and payment, business to business and consumer to business banking (e.g.: balances, financial transaction information), payments and automated teller machine (ATM) communications.

28
Q

Zions Bank Terms

hard hit

A

credit check

29
Q

Zions Bank Terms

ODS

A

Operational data store, we use IBM infosphere suite, Aimee says “ODS would be the place to run real-time type reporting from without hitting the live database, less scrubbed data however and rarely mapped to other areas or segments of data

30
Q

Zions Bank Terms

Kofax

A

document scanning software - purchased by lexmark, NSB (Nevada State Bank) use a vendor named doxtech (orem, utah) to help with services, but future is uncertain because lexmark doesn’t like to use channel partners. Jared Hattaway supports it, he says it is not ready for prime time

31
Q

Zions Bank Terms

CTR

A

A currency transaction report (CTR) is a report that U.S. financial institutions are required to file with FinCEN for each deposit, withdrawal, exchange of currency, or other payment or transfer, by, through, or to the financial institution which involves a transaction in currency of more than $10,000.

32
Q

Zions Bank Terms

US Credit Unions Total Assets

A

1.2 Trillion in US

33
Q

Zions Bank Terms

Hyperos

A

Contract management. IDK if that is the old or the new system. There is some migration going on.

34
Q

Zions Bank Terms

DRG

A

Oracle Data Relationship Governance. Related to DRM. define, create and govern financial data centrally for the Bancorp; implement COA management policy to ensure consistent use of COA, hierarchies and related metadata - Part of FACC

35
Q

Zions Bank Terms

Hiperos

A

Hiperos, LLC is an American SaaS technology company headquartered in Branchburg, New Jersey, specializing in third party management software solutions. Hiperos offers solutions for a variety of third party management related tasks including: Anti-bribery and anti-corruption (ABAC) compliance, supplier information management (SIM) / vendor management office (VMO) - we use them for this, third party oversight and management, supplier risk management, information security and data privacy, corporate and social responsibility, and performance measurement.[3] Their flagship solution platform,’Hiperos 3PM’, is deployed in 182 countries, and 47 languages.[4] It is the most widely used third party management solution in the market.[4] Hiperos also provides a training program (Hiperos University) and user group (HUG) for existing clients.[5] Hiperos’ operates in various industries including: banking and finance, technology, manufacturing, energy, life sciences, oil and gas, and food and beverage.[6] Notable clientele include: Microsoft, LinkedIn, United Technologies Corporation, AstraZeneca, Bank of Montreal, State Street Corporation, Baker Hughes and Halliburton.[7]

36
Q

Zions Bank Terms

Reg O

A

One of the regulations set forth by the Federal Reserve. Regulation O places limits and stipulations on the credit extension that a member bank can offer to its executive officers, principal shareholders and directors. This regulation also implements certain reporting requirements as set forth in previous financial legislation.

37
Q

Zions Bank Terms

viewpoint

A

image solution we have to for keeping a copy of checks for 7 years, I think it is mainframe based. SIMS is also one

38
Q

Zions Bank Terms

CIP

A

Customer Identification Program - banks have to comply for anti money laundering

39
Q

Zions Bank Terms

FDR

A

First Data Reporting - You should look up more on this one.

40
Q

Zions Bank Terms

SPRA

A

STRA or SPRA client reviews? Olga mentioned it. Second review?

41
Q

Zions Bank Terms

CRA

A

a United States federal law designed to encourage commercial banks and savings associations to help meet the needs of borrowers in all segments of their communities, including low- and moderate-income neighborhoods.[1][2][3] Congress passed the Act in 1977 to reduce discriminatory credit practices against low-income neighborhoods, a practice known as redlining.[4][5]

42
Q

Zions Bank Terms

REO

A

Don’t know, it is referenced in some FACC documentation

43
Q

Zions Bank Terms

TIB

A

Treasury Internet Banking - a product from ACI, which is going be replaced by UOB from ACI.

44
Q

Zions Bank Terms

BSA

A

The Bank Secrecy Act of 1970 (or BSA, or otherwise known as the Currency and Foreign Transactions Reporting Act) requires financial institutions in the United States to assist U.S. government agencies to detect and prevent money laundering. Specifically, the act requires financial institutions to keep records of cash purchases of negotiable instruments, and file reports of cash purchases of these negotiable instruments of more than $10,000 (daily aggregate amount), and to report suspicious activity that might signify money laundering, tax evasion, or other criminal activities.

45
Q

Zions Bank Terms

CCF

A

Contractual Cash Flows (CCF) are critical for CECL modeling, and the Loan Valuation Module in EVOLV will be used to calculate CCFs for the entire portfolio.

46
Q

Zions Bank Terms

Shaw

A

Mainframe based construction loan system

47
Q

Zions Bank Terms

BRD

A

Don’t know, it is referenced in some FACC documentation

48
Q

Zions Bank Terms

Rex

A

Retrieval Express - imaging system that pulls from Cims, for legal supeana’d against

49
Q

Zions Bank Terms

Evolv

A

EVOLV (SaaS solution by Primaticsand new Loan Account Engine -part of FutureCore Release).

50
Q

Zions Bank Terms

adverse action

A

credit check

51
Q

Zions Bank Terms

MetricStream

A

software that GRC uses

52
Q

Zions Bank Terms

Tanium

A

Asset discovery system

53
Q

Zions Bank Terms

Structuring or Smurfing

A

Structuring, also known as smurfing in banking industry jargon, is the practice of executing financial transactions (such as the making of bank deposits) in a specific pattern calculated to avoid the creation of certain records and reports required by law. The term “smurfing” is derived from the image of the comic book characters, the Smurfs, having a large group of many small entities. Miami-based lawyer Gregory Baldwin is said to have coined the term in the 1980s.[2]

54
Q

Zions Bank Terms

LAE

A

Loan Accounting Engine

55
Q

Zions Bank Terms

Evolve

A

Evolve with the “e” is the name of an old system that pre-dates CreditLEAD.

56
Q

Zions Bank Terms

Accuity

A

Replace Acuity feed with World Check news feed including Negative News” in the KYC/WLM module. Update the KYC/WLM module to create the updated and new alerts identified in the detail equirements doc. Hiperos offers solutions for a variety of third party management related tasks including: Anti-bribery and anti-corruption (ABAC) compliance, supplier information management (SIM) / vendor management office (VMO), third party oversight and management, supplier risk management, information security and data privacy, corporate and social responsibility, and performance measurement.[3] Their flagship solution platform,’Hiperos 3PM’, is deployed in 182 countries, and 47 languages.[4] It is the most widely used third party management solution in the market.[4] Hiperos also provides a training program (Hiperos University) and user group (HUG) for existing clients.[5]

57
Q

Zions Bank Terms

MICR

A

MICR - Magnetic ink character recognition. Magnetic codes found on the bottom of checks, deposit slips, and general ledger debit and credit tickets that allow a machine to scan (capture) the information. MICR encoding on a check includes the account number, `the routing number, the serial number of the check and the amount of the check. The amount of the check is encoded when the proof department processes the check. I think this also the name of a system at Zions

58
Q

Zions Bank Terms

BIN

A

A bank identification number (BIN) is the first six digits of a Visa or MasterCard account number. The bank identification number is used to identify the card-issuing institution.

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