Professional Documents
Culture Documents
Contacts: Ramkalawan m
amela
amela.R mkalawan TD.co
-TD Bank has the ability to provide the services required by the County .
Discuss how your bank will address the Recoupment Charge {aka FDIC Charge): What the
rate will be, how it will be assed, what it is tied to, if it can change without notice.
- Unlike most financial institutions, TD Bank does not assess an FDIC charge to
Government clients. Broward County wi ll not incur any recoupment charges related to FDIC
insurance coverage of its deposits during the contract term . Given Broward County's sign ificant
average balances, TD Bank provides a substantial benefit to the County by absorbing th is cost.
168.803 •1 8.$0
Rate Benchmarking
11
At TD Bank, we utilize a "managed rate approach to setting earnings credit rates and interest
rates. Rate changes are based on movement within market indices such as Fed Funds and 30 day
LIBOR.
Reserve Requirement
TD Bank is not assessing a "reserve requirement' to Broward County which frees up 10% of average
collected balances for additional earning credits and interest earnings.
TD eTreasury also offers a wide array of industry standard and customizable formats for download
that are compatible with the PeopleSoft ERP platform, including:
• BAI
. csv
• XM L
• PDF
• Word
• Excel
• PowerPoint
• QuickBooks
• Quicken
• Tab separated
Lockbox Services
Please describe your lockbox processing service from end-to-end. Include
each step from mail pickup to bank deposit.
Receive unsorted
mall unique Zip mall
Remove envelope
contents
• Capture
transactions on
• Manually Key I
Correct cnec1< 1
• Retrieve completed
batcnes from
trom PO scanning equipment Coupon l·J liq Line & outbound mail Dins
Review contents Amount Data
• Receive s·o rted
Caller Box mall from as per customer • separate cnecKS • va1coate pacJcage
Ute PO specific
instructions
ano invoices • Balance batches contents via barcode
tractcmg
• Manually place maIr
into customer Prep contents as
• Stage work tor
return to producuon
• Manually key
invoice oata 11eIcs • Generate packaging
specific In bouno per customer noor 11 required tabel rrom system
staging bins specific II ReassocIate cneck
stag ing bins
• Open & 0ISl(Ibute
Caller Box mail ror
processing
-Both types of transactions are integrated into a single workflow and processed in the
same environment.
-Automated and manual capture of account information is available in the integrated
workflow .
-High and low speed capture equipment has been integrated to allow for optimal
capture and processing of retail and wholetail transactions.
-Note the manual nature of wholetail vs the automation in retail with
extraction/capture equipment and utilization of the scan line. Also noting we use
a single platform where we have the flexibility to apply the relevant workflow steps
to ensure maximum workflow efficiency and controls. As an example we apply batch
prep to wholetail but not retail. (Batch prep in wholetail referencing the manual
keying of each check amount to replace the scannable coupon available in a retail
D environment), same with payee validation, etc. Also note that from a physical control
perspective it's a single area with consistent controls .
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Lockbox Services
Describe any customizations and/ or value-added services which can be provided as
part of your lockbox services.
Ability to handle payments based on customer specific business rules through
customized edit programs
TD lockbox develops customized workflows based on customer requirements and a
careful assessment of back office needs. We'll work closely with Broward County to
develop the most efficient workflow which would include customization
requirements.
Please provide an overview of the tools available to your lockbox customers for
things such as online decisioning, reporting, file uploads, etc.
Online decisioning is a secure web based service that allows the County to view
exception items on a daily basis. The County will have the ability to provide missing
payment information as well as dispositioning each transaction.
Lockbox reporting is available through a variety of options including; on line web
solution, daily email notification, delivery of document packages, or daily
• transmission of lockbox details.
ml
Lockbox Services
If a local lockbox processing location is not available to Broward County, please
describe the components of the non-local solution provided. Include all touch
points, estimated transaction float time and steps taken to mitigate delays in
processing.
-Unique zip from the Philadelphia Post Office allows for better mail availability due to
reduced postal sorting.
-TD Bank's Mt. Laurel, New Jersey Lockbox processing facility provides an enhanced
workflow design.
-Extended processing hours at this location.
-Full and part time staff to support peak processing periods.
-Utilizing the Mt. Laurel facility adds one day for mail float {3 days versus 2 days for
local mail) to the process. However, TD Bank provides for next day availability of
deposits. Additionally, we process and post all work on the day of receipt.
•
el
Safekeeping Services
Please describe the process for submitting third party transactions in order to properly
receive and post the trade transaction.
TD Wealth accepts dai ly instructions from Investment Managers, contingent upon written cl ient
authorizat ion and establ ished internal procedures, v ia t elephone, fax, or ema il .
Upon receipt of proper instructions, TD can al locate a single "block" trade over multiple County
accounts .
TD Bank will provide daily confirmation for purchases, maturities, and sa les. These confirmations
include but are not limited to transaction det ail, par value, purchase price, and security description with
the CUSIP number.
Following below is a sample confirmation: security transaction advice - the County has the ability to opt
in or out.
•
ml
Safekeeping Services
TD Wealth NEW ADDRESS OR NAMf
ot' >-3114
TD Wealth
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=
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•
pt[ ASt AOtNOW'l.tcGt YOUR APmOVAl OF 'rrlE !tNCSlMtHi
TRAHS1oCT10~ OlSC~US£D HEFIEIN SY 0AllNG, StGN«NG ANO
Anv~NNG ONE COPY 0~ nas rOfW.
Al'l'ROVEO: _ _ _ _ _ _ _ _ __
ADVICE OF SECURITY ACTMTY
TO Wealth
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a l'ilQ4»-t
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TO V/•ilJI'\ t.\¥ •;1:me,,1 t~f lof
T't'f l 0tor1~11,.or, G,nl
AD VICE Of SCCURflY ACTMTY
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Safekeeping Services
Please describe any value-added services provided with the platform used, such as
reporting tools.
As Custodian, TD Ba nk, N.A. safeguards cash and securities, executes investment instructions, and
collects and disbu rses funds pursuant to a governing custodian agreement. Our comprehensive
range of services includes :
TD Wealth Online offers real time access to the County's account information. Available
on a 24/7 basis, the system offers options for viewing transaction activity and account
holdings, including template reports and analysis.
Asset values are stored in the system for 2 years and transactions are stored for 10
D years. Optical records of statements have no retention limit.
ml
Safekeeping Services
Daily Custody Sweep Service:
TD Wealth gives clients the option to sweep excess cash on a daily basis. This option is
automated through our Trust Accounting system . Clients may select from a variety of
money market mutual funds or an FDIC deposit. The cut-off time for daily sweeps is
3:30pm.
This option allows the County to utilize a demand deposit sweep. Balances under
$250,000 are FDIC insured. Balances in excess of $250,000 are collateralized by U.S.
Treasuries, U.S. Government Agencies, AAA Corporate Bonds, and/ or AAA Asset- backed
securities.
•
Im
Safekeeping Services
Please describe how processing exceptions or failed trades are reported and rectified.
The County will be assigned an Advisor and a Client Service Associate to handle daily
transactions. Any trade discrepancies or settlement issues will be identified and
addressed by this team. Should the issue be more complex, it would be raised to senior
management for review. Communication between the County and its dedicated team
would be continuous throughout.
Generally, issues triggering failed trades are rectified within a day. If necessary, our
Operations settlement team will report the fail to the appropriate third-party money
manager to identify and correct the cause for the fail (i.e. wrong delivery instructions).
We have a very low percentage of trade fails. Most are the result of incorrect delivery
instructions. Once these instructions are corrected, the trade fail can be resolved quickly.
What is the cutoff time for submitting a same day or cash settlement transaction?
The cut-off times for notification of regarding same-day fixed-income trades is 3 p .m. for
both Fed Book and DTC. These times apply to all communication methods.
•
01 06
A Little Treasury
About Us Management
02 07
What Your
TD Bank
Merchant
Solutions
Team
we'll talk 03 08
about Our
Relationship
Commitment
On boarding
today 04 09
Now Let's Ready
Talk Abou t You Commitment
05
Government
Banking
[J Agenda
01
A Little
About Us
~ A Little About Us
Who is TD Bank Group?
We are one of the largest banks in North America, with over One Trillion dollars in assets and over
25 million Customers. With over 85,000 employees, TD Bank Group offers a full range of products
and services under three key business lines.
Ell $265.4B
Tota I Deposits
~ $159.1B
TD Bank, a member of the TD Bank Group, is one of the Tot al Loans
largest full-service financial companies and one of the top
banks in the U.S. But, unlike many banks, we have
dedicated local teams that get to know you and your
organization. By your side, we are here to help you make 8/}8 27,000
timely and efficient decisions about your banking needs. Employees
Morgan Stanley A3
BBB+ Citigroup
Baal Citigroup
source: 8l0ombero, Moo,oy•s ra tino oa.seo on sen,or 1on9-term oeoi as ot July LS, 20J 8. S&P re:1no based on k>no•term foreion issuer c.rea,t a5 of April 30, 2018. v.s. Pttl'S <J.et1ned as SAC, 88T. c, CJTZ. JPM, MTB, PNC, STI, u ss o.nd wFC.
•
What others think of us
Diversitvlnc
~
a
G A Little About Us
TD Bank Group Growth
See how far we've come Nordstrom's U.S. Visa
and private label
consumer credit
card portfolio acquired
TD acquires approx.
~ T!) Auto 50% of the Aeroplan
credit card portfolio
ll:il Fina nee
I
Chrysler Financial
m] Bank
acquired and became
TD Auto Finance
TO Banknorth acquired
•
02
Your
TD Bank
Team
B~,QWARD ~ Bank
COUNTY -.:.,
FLORIDA America's Most Convenient Bank" Our Commitment to You
S<ott Kreiger
Pamela lwnllalawan
Tonya England Senior Vice President Your Relationship
Government Banking Vice President
Sales and Service Spe~llst Retional Manaeer Manager and Treesury
Relotlonshlp Manager
Government 8anldn1 Accountability Management Officer are
responsible for your
Amanda Soto Andrea Tyrell-Grant Ben Suarez relationship
Treasury Management Assistant Vice President Vice President Senior Vice President
Solutions and Treasury Management Senior Treasury Management Treasury Management
Escalation sales Sucoott Officer Dtstrict Sales Mana2er
•
One Relationship Team
Consistency that is familiar with your
overall relationship
~
Suzanne Moran
TD Bank
Retail Service Support
Downtown FL Lauderdale
•
Your Relationship Team will work hard to understand Broward County Board of
County Commissioners. No matter the industry, that's the first step in creating a
strategy that is unique to your business.
We offer the personal, friendly, exceptional service of a local bank with the strength
and stability of one of the best financial institutions in the country.
Our vast array of products and capabilities allows us to craft a plan that fits your
long-term goals. And for those day-to-day issues, we'll always be there with helpful,
timely solutions.
As relationship managers, we're here to guide you forward with solutions based on
your unique needs. With specialized, one-on-one service backed by the power of an
entire network, we can help you focus on what's most important: Broward
County.
•
mJ Broward County Board of County
Commissioners Overview
The success of your organization depends upon your ability to manage its funds. The Municipal Advantage Account maximizes interest
and accounting efficiencies. This interest-bearing checking product provides the convenience of a transactional account combined w ith
the benefits of an investment account; there is no need for daily reconcilement and transfer of available funds into a dedicated investment
account.
Balance Compensation
Individual accounts are analyzed collectively each month to determine the balance required to offset the cost of services. Balances in excess of
those required to offset the cost of services automatically earn interest. Should balances fail to offset the total cost of services, the remaining
portion of service charges will be processed as a debit.
The information above is based on the account information provided in the RFP.
Earnings Credit
The TD Municipal Advantage Checking accou nt receives an earnings credit rate (ECR) on investable balances. These balances
are defined as the average collected balance maintained in all combined accounts. No charges wi ll be incurred as long as the
earn ings credit sufficiently covers the cost of services rendered . If insufficient earnings credit is accrued to cover the full cost of
services, then the lead account will be charged for the difference. The managed earnings credit rate is 1.95%.
Interest
100% of the excess balance on all combined accounts earns interest. Customers can choose to allocate interest to individua l
accounts or have all interest posted to one lead account each month. The managed interest rate is 1.95% .
Composite Relationship
The County can establish a composite relationsh ip of al l TD Mun icipa l Advantage account balances and identify a lead account.
The lead account receives monthly interest payments earned on all excess balances, or is charged monthly for service fees not
fully offset by earnings cred it.
Our ATM service offering is a complete turn-key sol ution with TD managing all aspects of insta llation and ongoing
operation of the machines. We have dedicated teams available 24/7 to respond to service requests ensuring your
busi ness receives t imely attention whenever needed .
TD only uses Diebold Opteva ATMs. Opteva ATMs offer high reliabi lity and robust security features to ensure our
customers can use t he ATM whe n they want and feel t hat their tra nsactions are safe and secure. TD offers one
of the most secure ATM programs in North America.
T D's ATM serv ice management program is based solely on ATM customer ava ilability - down ATMs are simp ly
unacceptable. We align ourselves w ith the best service providers in the industry and we pay above market rates
to ensure world - class service. We realize that both your brand and ours is at stake; therefore, we treat our off
premise ATMs as an extension of our branches. Our program en sures t hat we can deliver on our co nvenience
promise.
•
1m Broward County Board of County
Commissioners Overview
• Account Structure
- 16 accounts county-wide
• Account Analysis
- TD Municipal Advantage Checking account
- Super Composite w ith multiple sub-composites by department within the County to enable the Treasurer to track
balances and ana lyzed services by department
• Online Banking
- Reporting, statements, stop payments, payment origination and fraud management
- 365 days of transactional data with a 7-year image arch ive
- PIN + SecurID Token for passcode
- Dual control on payment origination
•
mJ Broward County Board of County
Commissioners Overview
• Fraud Control Services
- Check Positive Pay with Payee Verification
- Check Block Positive Pay
- State Dati ng
- ACH Fra ud Services to include ACH Positive Pay, ACH Filter, and ACH Debit Block
• CD-Rom Imaging
- Sunset solution and replace with online banking portal 7-year image archive ( estimated annua l savings of $1805)
• Account Reconciliation
- Full Reconci liation
- Deposit Reconciliation
• Controlled Disbursements
- 8:30 a.m. presentment
•
1m Broward County Board of County
Commissioners Overview
• Lockbox Services
- Retail Lockbox
- I mage all contents including envelopes & correspondence
- Postmark reviews
- On li ne Decisioning & Payment Aggregation (TD elockbox)
• Integrated Receivables
•
mJ Broward County Board of County
Commissioners Overview
• Electronic Data Interchange (EDI)
• Merchant Services
• . TD Wealth
• Contingency Plans
- Redunda nt sites (South Carolina, New Jersey and Ma ine)
- Payroll purposes
•
Government Deposit and investment accounts
G Government Banking
06
Treasury
Management
•
Treasury Management Solutions
Improved working capital, greater efficiency through automation, and protection from the latest payment r isks are
top -of-mind for many f inance professiona ls . Our Treasury Management specialists can help you identify the hidden
potential in your payment practices and revenue collections-to help enhance your overall cash conversion cycle
and improve bottom- line results.
If you're looking to eva lu ate the current state of your treasury functio n, explore additional best practices, or hear
about newer techno logies, we're prepared to help.
[3 Treasury Management
Treasury Management Highlights
• Zero Balance Accounts (ZBAs) • I ntegrated Payables (Paymode-X with Visa Payables
Automation)
• On line Banking Portal for Information Reporting,
Image Archive & Payment Or igination • Integrated Receivables
• On line Bank Statements & Analysis Statements • Lockbox Solutions with in-state Lexington, SC
Lockbox Processing Site
• Fraud Preven t ion Services (ACH Positive Pay, ACH
Debit Block and Filter, Check Block Positive Pay & • Reloadable Cards (TD Paycard, TD Access and TD
Check Positive Pay with Payee Verification) Ready)
• Electronic Data Interchange (EDI)
• Account Reconciliation (Deposit Reconciliation,
Partial Reconciliation and Full Reconci liation)
• CD -Rom Imaging
• Remote Deposit Captu re
• Next-Day Availability on all checks deposited
•
07
Merchant
Solutions
•
Merchant Solutions
Manage, grow, and protect your business.
Det ermining the best so lutions to meet you r card processing needs is im portan t t o us. Backed by the
st rength and stabi lity of a t op U. S. ba nk, we take a relationship-centric approach with our cl ients to
get to know and understand your busin ess' unique needs.
TD Bank Merchant Solutions ena bles you to ra pidly accept credit an d debit cards from all major
ca r r iers an d net works, across a host of advanced poi nt-of-sale (POS) devices and on line platforms.
(3 Merchant Solutions
09
The Ready
Commitment
•
$1 billion •
I
I
.I
j
We aspire to help create an inclusive future where individuals
and communities feel confident that they can succeed in a
by 2030
changing world. By providing access, resources and support,
The Ready Commitment is how we deliver on that purpose.
To accomplish our goal, we will focus on four critical areas: