NTC's VP of Document Production Sean Hunt authored an article featured in The M Report and DS News this week.One area that is too often neglected when it comes to the vendor due diligence process is the prospective partner’s document signing protocols. There are a number of functions that require third party partners to produce signatures on behalf of their clients. When performing this type of work, accuracy and adherence to client requirements are essential. To deliver that, the firm must have a well-designed and compliant system.
The first element of such a system is a well-trained staff. Everyone associated with the process must have very deep training on our industry, its practices, and compliance requirements. Compliance requires that every employee has full knowledge, familiarity, and integrity on each and every document the firm signs on behalf of a client. This knowledge should be imparted through detailed and monitored training, but that’s just the beginning.
A well-trained staff will need the aid of efficient systems and technology in order to ensure that every document is signed correctly every time. Such a system of controls must include a signing authority database, frequent internal audits, and physical location controls that determine where employees are located throughout the facility.
In regards to training, notaries should be required to attend document review training and document reviewer specialists should likewise be required to attend notary training as well. This cross-training will ensure that all employees, regardless of position, understand what has to happen to ensure compliance.
Advanced database technology should be employed to hold detailed client records that will determine what documents company personnel can sign and under what circumstances. Power of attorney and corporate resolutions should also be held in this secure database...
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