Key Accounts Manager (KAM) - KeyBank | Banking, Credit ... · Implementation Guide Key Accounts Manager (KAM) Revision 3/10 2 Section 1: Seamless Implementation This guide provides

Revision 3/10

implementation guide

Key Accounts Manager (KAM)

Implementation GuideKey Accounts Manager (KAM)

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Contents

Page

Section 1: Seamless Implementation 2

Our Service Commitment 2

Your Roles & Responsibilities 2

The Implementation Process 3

Implementation Details 4

Section 2: Implementation Step A – Set-Up of Checking Account 5

Section 3: Implementation Step B – Service Agreements 6

Section 4: Implementation Step C – Service Set-Up 8

Section 5: Implementation Step D – Implementation 11

Sub-Account Set-Up 12

Key Total Treasury 15

Section 6: Implementation Step E – Post Implementation 17

Additional Sub-Account Set-Ups 17

Closing Sub-Accounts 17

Section 7: Glossary of Terms 18

This document is designed to provide general information only and is not legal advice. Iflegal advice or other expert assistance is required, the services of a competentprofessional should be sought. KeyBank (Key) does not make any warranties regardingthe results obtained from the use of this information.


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Section 1: Seamless Implementation

This guide provides step-by-step details on how, working with you as a partner, Key canestablish your Key Accounts Manager (KAM) Services. At Key, we understand thisservice plays an integral role in simplifying your escrow sub-account reconcilement.With this in mind, we are committed to ensuring the best possible experience.

Our Service Commitment Deliver accurate information that will meet or exceed our established service levels Work with you as a partner to identify problems and look for solutions that will benefit

you and allow us to maintain quality standards Keep the lines of communication open so that in the event of any delays in the

delivery of your services, you are informed immediately.

Your Roles & ResponsibilityWhile Key will work to ensure seamless implementation of your service and avoiddelays, you can assist us by providing the needed resources when requested andforwarding completed documents and/or information in a timely manner.


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The Implementation Process

Phase I: InformationGathering

Meet & have dialogueto gather informationregarding your needs

Provide appropriatedocuments

Forward completeddocuments to Key

Phase II: ServiceSet-up

Key activatesservices

Confirmationoccurs betweenyou & Key

Phase III: PostImplementation

Key providesappropriatesystem access—user IDs, etc.

You areproduction-ready

1-5 business days 1 business day 3 business daysSteps A-C Step D Step E


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Implementation Details—Responsibility & TimingYour Cash Management Sales Officer will schedule an initial implementation meeting to discuss the process, timing and details forimplementing your new services. The grid below highlights the critical implementation steps and typical timing. Based on your unique needsand resources, Key will discuss with you typical turnaround time for the implementation of these services.

Implementation Step Key Responsibility Client Responsibility Timing

Open Account A non-interest bearing master

account will be established withinthe Key system

Activate account on system;provide you with paperwork tocomplete account set-up

Ensure signature cards arereturned in a timely manner

Number of days is dependent onyour completion and delivery ofsignature cards and riskquestionnaire to Key

Sign Service Agreement Determine appropriate KAM

solution

You will sign service agreementwith Key and a valid W-9 or W-8BEN

Provide you a copy of theservice agreement

Sign and return copies to Key Number of days is dependent onyour delivery of signed agreement toKey

Service Selection Prerequisite products: non-interest

master account

Define users, access controls

Provide guidance to you onservice offerings within theproduct; champion theimplementation process

Make decisions on servicefunctionality and provide theneeded resources to ensureimplementation support

Number of days is dependent onavailability

Testing & Implementation Complete sub-account set-up forms

Ensure proper set-up andtesting of your service basedon the options you selected

Have staff available for testingand questions; timing is heavilydependent on availability

On average, 2 business days;dependent on service functionalitychosen and availability of yourresources

Post Implementation What to expect and timing

How to open additional sub-accounts, how to close sub-accounts

E-mail and/or mail appropriateinformation to you

Ensure the appropriateinformation is received; contactKey if you do not receive byspecified timing

3-4 business days afterimplementation

A

B

C

D

E


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Section 2: Implementation Step A—Set-Up of Account

Clients will need to open a non-interest bearing master account, and determinethe appropriate KAM solution to meet their needs.


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Section 3: Implementation Step B—Service Agreements

In order to implement services, you must sign a copy of the Master AccountAgreement. Your Cash Management Sales Officer will provide electronic copiesof these agreements. Your service cannot be implemented without a signedagreement. Below is a sample for reference.


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*Please see your Cash Management Sales Officer for a Public KAM Agreement.


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Section 4: Implementation Step C—Service Set-up

The set-up of your Key Accounts Manager services will be unique, based on yourneeds and other Key services you may be using. The chart below providesguidance, options, and requirements to consider as you make decisions. YourCash Management Sales Officer will work with you to determine which functionbest fits your needs.

Key Accounts Manager is limited to the following industries:

Rental Security Available for any property management company thathandles security deposits, including: Apartment landlords Property managers Storage unit operators

Lifecare Facilities that offer life care, including: Nursing homes Extended care facility Assisted living facilities

Attorney Escrow For attorneys not using Interest on Lawyers Trust(IOLTA/IOTA) escrow accounts. Ideal for law firms thatmanage: Estates and trusts Court settlements

Real Estate Escrow Agent Real estate escrow agents managing consumer fundsduring title transfers of building contracts: Title companies Real estate developers Condo developers

Pre-Need and Funeral Trust Handling of pre-need funeral home trusts.

Family Self Sufficiency For Public Housing Authorities.

Non Profit Designed for: Government non profit organizations Non-government non profit organizations (NGOs)

Public Designed for governments that centralize fundsmanagement for multiple departments.

RequirementsYou should review the Product Information Guide for Key Accounts Managerservices in order to decide which service is appropriate for your needs. Based onstate laws and regulations, Key Accounts Manager can only be offered in certainstates.


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The following grid highlights availability:

RentalSecurity

LifecareAttorneyEscrow

Real EstateEscrow

Pre-need(Funeral

Trust)Non Profit

FamilySelf-

Sufficiency

Public

East

New York X X X X X X X *

Maine X X X X X X *

Connecticut X X X X *

Midwest

Ohio X X X X X *

Indiana X X X X X X *

Michigan X X X X X X *

Kentucky X X X X X X *

West

Washington X X X X X X *

Oregon X X X X X X *

Colorado X X X X X X *

Utah X X X X X X *

Idaho X X X X X X *

Alaska X X X X X *

Arizona X X *

* Please contact your Cash Management Sales Officer for availability.

Key Accounts Manager Module

Security and Segregation of DutiesFor those individuals within your company that will access the Key AccountsManager Module on Key Total Treasury, you need to consider who will beable to initiate funds transfers and access reports.

Functionality OptionsDecide which users will accessyour service?

Who will be able to initiate funds transfers? Whowill be able to access reports?

Determine what functionality eachuser will have access to.Segregation of duties, etc.

Which reports will each user be able to access?


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Account Titling of Your Subaccounts

You will need to work with your Cash Management Sales Officer to determinehow you want your subaccount titling to be structured.


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Section 5: Implementation Step D—ImplementationOnce you have set-up a non-interest bearing master account and determined theappropriate KAM solution, you will receive a letter outlining the documentationrequired to ensure a timely and seamless implementation of KAM services.


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In addition, you must complete the appropriate sub-account set-up form, whichwill be provided by KAM support.

To Set-up New Sub Accounts:

1. Obtain new templates2. Complete the required fields in the set-up template, as illustrated in this

guide.3. Email the spreadsheet to the KAM Support Team at

[email protected]. Submit any additional documentation, such as W-8s (original) or W-9s. to:

KeyBank Key Accounts ManagerOH-01-51-0633PO box 5998

Cleveland, OH, [email protected]

5. Accounts will only be opened once all required documentation is received.6. Email or contact the KAM Support Team Monday-Friday, 8:00 a.m. ET- 5:00

p.m. ET at (800) 361-4031with any questions.

Please note: If any of your requests cannot be processed, you will be contacted by the

KAM Support Team. Revised sub account requests should be resubmitted through a new

template. Once new sub accounts have been set-up, they appear on your KAM

reports on Key Total Treasury. New sub accounts opened on the last business day of a month will appear

on the next month’s KAM report.

Required Fields on Sub Account Template:

A. Date mm/dd/yyyy: Date prepared by the client.B. Prepared By: The name of the person who completes the template.C. Telephone Number: Preparer’s telephone number.D. Master\Client Name: Name of organization, which must be the same as

the name on the master account.

RentalSecurity


Real EstateEscrow Agent

Pre-needFuneral Trust (NY)

Family SelfSufficiency

Non Profit Public

Ace PropertiesSkilledNursingFacility

J &J LawOffices

Ace Properties NY Funeral HomePublic Housing

AuthorityThe

FoundationThe City


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E. Master Account Number: The client’s master checking account number.F. Group Number: The Group number assigned to the client by the KAM

Support Team, provided when the account was opened.G. Division: An optional field used by clients for identification purposes.H. Unit Number: An optional field defined by the client. These may contain

miscellaneous information.I. Sub Account Name: Sub account holder’s name (individual or business).J. Title Line 2: Additional titling for a sub account holder.K. Sub Account Deposit Amount: An optional field indicating the amount of

the first deposit. Clients performing prefunding will use this field.L. Rental Security Pet, Garage, or Other Deposit Flag: An optional field that

identifies the presence of additional fees. Enter P, G, O, or leave blank.

RentalSecurity





Non Profit Public

P

M. New York Rental Security Year End Interest: Required for New Yorkclients only. All other clients should leave this field blank. Indicate “C” if subaccount interest is to be sent via paper check or “A“ if it is to be directdeposited to the sub account.

RentalSecurity





Non Profit Public

A

N. Sub Account SSN\EIN\TIN: The tax identification number of the subaccount holder (SSN=Social Security Number, EIN=Employer IdentificationNumber, TIN=Tax Identification Number).

O. Sub Account U.S. Citizen: Enter Y if the sub account holder is a U.S.citizen, otherwise enter N.

P. Tax ID Indicator: Enter 0 if the sub account holder is an individual;otherwise enter 1 to indicate a business.

Q. Pre-Need Only Irrevocable Trust Flag: Required for Pre-need clients only.Enter a “Y” if the sub account is an irrevocable trust; otherwise enter an “N”.

RentalSecurity





Non Profit Public

Y


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R. Non Profit and Lifecare Only Sub Account Date of Birth mm/dd/yyyy:The date of birth of the sub account holder.

RentalSecurity



Pre-needFuneral Trust

(NY)


Non Profit Public

11/30/1932 11/30/1932

S. Sub Account Street Address: The number and name of the street for thesub account holder.

T. Additional Space for Foreign Address: An optional field to includeadditional foreign address information.

U. City: The city of the street address.V. State, Possession or Canadian Province Code: The state of the street

address.W. Zip code: The zip code of the street address.X. KeyBank Use Only- Country Code: Leave blank.


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Key Total Treasury To view reports and initiate funds transfers, you will need to be set-up to

access Key Total Treasury. A representative of your company must be available to work with Key during

set-up. Ideally, this representative will have access to the Key Total Treasury system

when the service is live.

Key Total Treasury Log-InLog in to the Key Total Treasury Web site by following the steps below.

1 Open an internet browser and go towww.key.com. Click on theCorporate Banking tab.

2 Enter your Log-on ID and Passwordin the Key Total Treasury section.


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3 Click on the Key Accounts Managermodule tab within Key TotalTreasury.

4 Select report you would like to viewor initiate transfer.


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Section 6: Step E—Post Implementation

You will receive communication from Key after services are set up appropriatelyin our system. Once you receive communication, service will occur within sevenbusiness days from month-end or last monthly input file from you. Please reviewthe following within two weeks of service set-up or sooner.

If you implemented You will receiveKey Total Treasury E-mail confirmation detailing user IDs and

passwords

At this time, you may open additional sub-accounts by completing theappropriate Key Accounts Manager set-up forms. You may also close sub-accounts by completing the Key Accounts Manager Closeout Form. Copies ofthese forms have been included in the Appendix for your review.


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Section 7: Glossary of Terms

1099 An IRS required tax form sent by KeyBank to sub accountowners that earn $10.00 or more in interest for the previoustax reporting year.

ACH The Automated Clearing House, which is used toelectronically transfer funds.

FDIC Federal Deposit Insurance Corporation, an entity assures theprotection of balances in KAM up to the maximum allowablelimit (set by the FDIC).

IRS Internal Revenue Service

Key KeyBank

KAM Our Key Accounts Manager solution segregates client escrowfunds into separate, “no access” sub-accounts, each clearlyidentified by a unique account number, as well as the client’ssocial security or taxpayer ID number.

Master Account A non-interest bearing account with sub accounts tied to it.

TIN A tax identification number, which is used to pen KAM subaccounts.

W-8(BEN) A document issued by the IRS to be completed by personswith a foreign status (beneficial owner) for tax purposes.

W-9 A document issued by the IRS to be completed by U.S.citizens for tax purposes.

Documents

Key Accounts Manager (KAM) - KeyBank | Banking, Credit ... · Implementation Guide Key Accounts Manager (KAM) Revision 3/10 2 Section 1: Seamless Implementation This guide provides