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FIL-125-2004 Attachment

Notes
 

FDIC connect Registration Process 

FDIC connect is the secure e-business Web site for financial institutions to conduct transactions with the FDIC. In addition to Deposit Insurance Assessment Statements, the FDIC offers additional online transactions. Information about these transactions is provided online on the FDIC connect site after registration. 

FDIC connect is a secure system. Every individual seeking access will need to register online and be associated with a financial institution. Registration is based on financial institution access profiles. The two types of profiles are Coordinator and User. The responsibilities for these roles are: 
 

  1. Coordinator
    1. Grant access to other bank users
    2. Grant transaction access to themselves and other users
    3. Execute business transactions for the financial institution
  2. User
    1. Execute business transactions for the financial institution

FDIC approval is necessary for all coordinator registration requests. However, the FDIC plays no role in user access approval. Every institution must have at least one coordinator. To become a coordinator, the institution must submit a Designated Coordinator (DC) Registration Form. 

If a coordinator has not been previously registered for your institution, please follow the Coordinator Registration Process. If a coordinator is registered for your institution, please verify that either the coordinator, or another user, has access to the Deposit Insurance Assessment Statements transaction. 

Coordinator Registration Process 

Any financial institution that has not yet registered a coordinator to use FDIC connect should complete the attached Designated Coordinator (DC) Registration Form and fax the completed form to (703) 465-4313 . This registration requires the signature of an Executive Officer of the financial institution. This step assures that each institution’s management is aware of the principal person on their staff who “speaks for the institution,” with regard to FDIC connect . More details about the Coordinator’s responsibility are provided below. (Please note that while an institution may have provided its Summary of Deposits or participated in a post-exam survey using FDIC connect , it may not yet have registered for continued access to the system.) 

FDIC relies on the actions taken by the Coordinator and the users who are given access to various transactions. It is important that institutions choose the Coordinator carefully and that controls be implemented to address operational risks inherent with online transactions. When a Coordinator is assigned, FDIC connect staff will provide that individual with guidance and support for using FDIC connect . 

After completing the registration process, the Coordinator may grant other individuals access to execute transactions on behalf of the institution. These users can be employees of the institution, the holding company, an outside data servicer, a law firm, or individuals who need to submit a beneficial ownership filing. When appropriate, such as in the case of data servicers, authorized FDIC connect users may execute transactions on behalf of more than one institution. The steps below outline the recommended and preferred registration process and order: 

  1. Designated Coordinator (DC) registration form is faxed by the financial institution and received by FDIC.
  2. FDIC validates authorizing official.
  3. Welcome email with registration web link is sent to the Designated Coordinator; the email includes the next steps to continue registration process. FDIC connect makes extensive use of email. The institution should ensure that existing Spam Filters are set to receive email from the fdic.gov domain, or specifically FDICconnect@fdic.gov and FCXProduction@fdic.gov .
  4. Coordinator completes an on-line registration form.
  5. FDIC connect automatically sends the Coordinator a system generated temporary PIN via email.
  6. Coordinator logs into FDIC connect and provides the temporary PIN to complete the registration process. The Coordinator requests association with the institution and chooses the Coordinator access profile.
  7. FDIC connect help desk approves the coordinator registration request and an approval email is sent to the Coordinator.
  8. Coordinator returns to FDIC connect and uses the Manage Transactions transaction (available under Coordinator Functions menu) to grant transaction execution privilege to the Deposit Insurance Assessment Statements transaction and other transactions.
  9. Coordinator validates operation of the Deposit Insurance Assessment Statements transaction.

Additional User Registration Process 

Once a coordinator is approved, they may grant access to other institution users. The following outlines this process: 

  1. Coordinator must open the institution to allow additional user registrations and specify email domains (e.g., bankname.com) from which registration requests will be accepted using the Manage Institution Access transaction (available under Coordinator Functions menu.)
  2. Users request access through FDIC connect by completing the online registration form.
  3. FDIC connect automatically responds with email that includes temporary PIN.
  4. Users login to FDIC connect and provide the temporary PIN to complete the registration process. The user requests association with an institution, choosing the user access profile.
  5. Coordinator receives an email regarding the user’s registration request.
  6. Coordinator approves user’s registration request using the Manage Users transaction (available under Coordinator Functions menu).
  7. Coordinator provides the user access to one or more transactions as appropriate, using the Manage Transactions or Manage Users transaction.
  8. FDIC connect generates an email to the user indicating approval.

Verifying Access to Deposit Insurance Assessment Statements Transaction 

If a coordinator is already registered for your institution, please have the Coordinator follow the steps below to verify access to the Deposit Insurance Assessment Statements Transaction. 

  1. Coordinator logs into FDIC connect , using the Quick Links for Bankers from FDIC’s web site www.fdic.gov .
  2. Using the Manage Transactions function (under the Coordinator Functions menu), coordinator validates that at least one user from the institution has execute privileges for the Deposit Insurance Assessment Statements Transaction.
  3. If no user has the execute privilege, the Coordinator should grant it themselves and/or other users as appropriate.
  4. Coordinator (or user with execute privilege to the Deposit Insurance Assessment Statements transaction) validates operation of the Deposit Insurance Assessment Statements transaction.

Additional Information 

There may be circumstances where an individual will need to be a Coordinator for more than one institution. While permissible, a separate Designated Coordinator (DC) Registration Form must be submitted from each institution. Individuals who have this need should contact the FDIC connect Help Desk (see below) for further instruction. 

There may also be circumstances where an individual will need to be a User for more than one institution. While permissible, the user will need to be approved by the Coordinator from each institution. Individuals who have this need should contact the FDIC connect Help Desk (see below) for further instruction. 

Getting Assistance 

If you need assistance registering with FDIC connect or verifying operation of the Deposit Insurance Assessments Statements transaction, please contact the FDIC connect Help Desk via email at FDICconnect@fdic.gov or via phone at (877) 275-3342, option 5 from the bankers menu. 

Last Updated: March 24, 2024