Background:

Susan & Charles live in Alaska.

There’s a 4-hour difference between Alaska & New Jersey. Charles is on business in
Chicago (CT, 1 hr. earlier than ET).
 Susan has requested (the prior evening, via secure text) an asap ACH withdrawal
from her IRA account.
 Charles, too, has requested asap cash from his non-taxable account (no tax
withholding required); for his request, there is ample cash available. He’s on
business in Chicago. His ACH can be initiated same day; for same day, it must be
entered electronically before 1 p.m. ET.
 An email has arrived: There’s a new employee that would like to begin the process
of opening a new account.

You are the person responsible for the tasks below related to these requests. You are
based in New Jersey and have arrived at the office at 8am.

Task: Rearrange these tasks into the order in which you would deal with them, adding
the time at which you would perform each task. Add any comments you have in the
relevant box. When you have completed the task, save the document including your name
in the document name and upload it using the button below.

Time Task
Inform client Susan to allow at least 5 business days from the time of the
request. It takes 2 days from the date of sale of shares, for cash to be
available for withdrawal.
Email to new employee, to notify them that the electronic form has been
sent via email
Ensure the amount being requested by Susan – this will include tax
“withholding.” Some clients request 0 withholding. Some, 10%.
Others, 20%. In this case, this is the 1st such request by Susan, so it’s
necessary to ask her AND prepare an electronic form for her to sign asap.
Liquidation of enough shares to provide ample cash for the withdrawal –
in this case, this must be done by the 3rd party investment company team
in Massachusetts (same time zone, ET, as New Jersey), and for it to
happen same day, the request much be made well before 3 p.m. ET,
preferably 1st thing in the morning.
Initiation of ACH request for Charles’s funds
 In speaking with Susan you discover that the banking information on
record for Susan’s local bank, must be updated. (Susan mentioned that
the bank name & account info had changed.) This requires preparation
of a form that Susan will sign electronically. That form must be
approved by back office, before the ACH can be initiated.
PHONE contact with client Susan to verify the legitimacy of the request
(email or text is not sufficient, must be over the phone live)
Text Susan when form for banking information instruction is ready for
her signature; this is to tell her to look for the email for e-signing
1-click initiation of the electronic form to go to the newly participating
employee
PHONE contact with client Charles to verify the legitimacy of the
request (email or text is not sufficient, must be over the phone live)
Comments