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HomeMy WebLinkAboutUnion Bank Schedule (Finance)Tab I - Conversion A. Describe a conversion plan to transfer assets of the City and the CDC to your financial institution. Please include a dollar amount that the bank will include as a "conversion allowance" for the implementation and set up costs. Union Bank places great emphasis on providing high -quality, personalized service to government agencies. We place an equal importance on a seamless transition of banking services from other financial institutions and have extensive experience at transitioning public agencies to Union Bank. To ensure that you'll have a smooth transition to Union Bank, we will provide you with a team of professionals who have in-depth knowledge of all operational aspects of our services. This team, who is thoroughly versed in all operational aspects of the Bank's services, will support you during and after the implementation process. Union Bank will offer the City and CDC a $3,000.00 conversion allowance to mitigate the cost of implementation, set-up costs for treasury management services and initial deposit and check stock supplies. The implementation plan will include the following phases and steps. Implementation Team • Introduce implementation team • Define roles and responsibilities • Develop and distribute a formal implementation plan to all parties • Coordinate implementation meetings on an on -going basis Documentation Preparation • Complete transmission protocol worksheet • Provide specifications • Agreements, signature cards, and all required documents Technical Implementation • Establish all requirements • Establish testing requirements for transmissions • File format testing Training • Coordinate details of the start-up with your Relationship Manager • Train your staff on services via Webinar training • Provide appropriate reference materials as an ongoing reference • Respond to your processing questions on an ongoing basis • Provide follow-up training as needed During the implementation and conversion phase, the Bank will provide the necessary training and reference materials as needed. Union Bank does not charge for the training for our proprietary products and services we implement for the customer. Any follow-up webinar or telephone training coordinated and administered by our treasury management specialists is provided at no cost to the City. 39 t� UnionBank For Web services, training is generally completed via telephone because no software installation is required. We provide WebEx online (Webinar) training led by Union Bank treasury management specialists. These Webinars are designed to show the City how to use our online services and how you can benefit from our cash management products' robust features. Webinars are hosted daily, so the City can attend at your convenience, and last no more than an hour. SAMPLE IMPLEMENTATION PLAN FUNCTION INITIAL IMPLEMENTATION MEETING RESPONSIBILITY • Review current and proposed account structure, services and processes • Discuss timeline and responsibilities for an implementation plan • Create a detailed implementation plan specific to the City's requirements ■ Set "Start" date ACCOUNT SET-UP Complete all service and legal agreements City of National City & CDC and Randy Ungersma City of National City & CDC and Randy Ungersma Provide the City with document checklist Randy Ungersma Provide file specifications Carolyn Swafford Provide current -year budget and Financial Information (CAFRs for three (3) years) City of National City & CDC Provide daylight overdraft requirements and ACH limits City of National City & CDC Identify deposit and cash vault supply needs and place order Randy Ungersma and CCSU ACCOUNT SERVICES Open accounts Randy Ungersma and CCSU Test checks for all accounts (City to provide checks for testing) City of National City & CDC and Carolyn Swafford Complete transmission testing Carolyn Swafford Set up all cash management account services Carolyn Swafford TRAINING Identify training requirements and schedule on -site training dates City of National City & CDC, Randy Ungersma, and Carolyn Swafford Complete implementation of all services Randy Ungersma Start Services Provide ongoing training as needed Randy Ungersma Post implementation review: Randy Ungersma • All services implemented • Account Analysis • Answer questions ■ Implementation Survey This sample implementation plan illustrates the major components required for the conversion of the City's banking services to Union Bank. Upon award of the contract, the Bank will work with the City to develop a detailed and customized implementation plan to meet your specific requirements. Throughout the City's relationship with the Bank, we will continue to provide training as needed. 40 UnionBank B. What lead-time do you expect will be necessary before the conversion begins? The services being used by the City and CDC can comfortably be converted to Union Bank within 60 days. When the City notifies the bank of the award we will assemble our transition team for an in -person meeting with the City's transition team for an initial implementation meeting. Roles and responsibilities for the Bank and the City will be defined and new accounts forms will be originated. A complete package of new account documentation will be created for the City and new bank account numbers will be identified and delivered. Implementation steps for treasury management services include: • Receiving and completing the Terms and Conditions Agreement, Funds Transfer Authorization, Master Funds Transfer Agreement and Security Procedures, and the Web wire worksheet. • Implementing your services based on your requirements • Mailing the SecurlD tokens to you • Scheduling an appointment for phone and/or on -site training (if necessary). Training is not required for the Web channel. • Scheduling testing which required for initiating wires. Testing time may vary depending on format type. • After the Bank receives and confirms the setup documentation, all steps are generally completed within three to five business days, depending on the complexity of the implementation. Transmission time may vary, depending on the transmission method selected. C. Indicate your plans for educating and training the City employees in the use of your systems. The Bank places a high level of attention on quality training of the City's personnel on an on- going basis. We recommend City employees enroll in our Free Webinar training sessions that are available throughout the month for all of our Web Treasury Management Services. When a web user logs into the Online Business Center there is a convenient link to "Webinar" training. When the user clicks on that link a calendar will open up that presents all the available product training that is available for that month. Private Webinar training sessions can also be arranged for group settings of City employees. 41 UnionBank