How to Manage Documents and Finances

Keep track of documents and manage finances

The trust department of a financial institution is typically responsible for managing a variety of crucial paperwork, including powers of attorney, conservatorship papers and investment portfolios, as well as banking statements and bill payments. All of these documents must be in compliance with strict standards of compliance. This means they have to be monitored and supervised in a systematic manner.

Start by gathering all your documents together. Sort them by type (banking documents, insurance documents, etc.). and then by date (newest to oldest). After sorting, you can arrange them in three folders and label them, then store them away for future use or cut them. This method will help you save time from looking through old files, and will assist you in avoiding paying for products or services that you already own.

A digital document management system, such as BDS is a great method of organizing your financial records. It is easier to find and access your financial information when you save it digitally. Additionally, your documents are more secure in a digital format than on paper. Contact us to learn more about how we can improve your workflow and help stay compliant.