Factivity: You’ve Got Questions, We’ve Got Answers Stephanie Bussenger Maureen Sudbay, CPCP Disclaimer “Bank of America” and “BofA Securities” are the marketing names used by the Global Banking and Global Markets divisions of Bank of America Corporation. Lending, other commercial banking activities, and trading in certain financial instruments are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., Member FDIC. Trading in securities and financial instruments, and strategic advisory, and other investment banking activities, are performed globally by investment banking affiliates of Bank of America Corporation (“Investment Banking Affiliates”), including, in the United States, BofA Securities, Inc. and Merrill Lynch Professional Clearing Corp., both of which are registered broker-dealers and Members of SIPC, and, in other jurisdictions, by locally registered entities. 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These policies prohibit employees from offering research coverage, a favorable research rating or a specific price target or offering to change a research rating or price target as consideration for or an inducement to obtain business or other compensation. © 2020 Bank of America Corporation. All rights reserved. Objectives After attending this session, you will be able to: •To implement best practices in to your Card Program •Understand how to contact the Bank of America Support Teams and when to contact the Dedicated Support Team or the Help Desk For Discussion Purposes Only; Proprietary and Confidential Information of Bank of America Question # 1 One of my Cardholders is leaving our agency/organization. What steps do I need to take as the PA? Factivity answer # 1 For State PA’s, you must cancel the card and also deactivate the user profile in Works. TIP: If you deactivate the user profile first, you will be prompted to also cancel the card. For State PA’s, you must perform an Annual Security Review. This review is to certify that all Works users and roles are valid and necessary. (NEW security requirement) For PSUB PA’s, the two items listed above are best practices. You should include these two steps in your process For Discussion Purposes Only; Proprietary and Confidential Information of Bank of America Question # 2 Can a Backup PA perform the same duties as a Primary PA? Factivity answer # 2 YES, Backup PA’s have all the same roles, responsibilities and access as the Primary PA. TIP for State PA’s, you must add/delete PA’s by submitting the Program Administrator Form along with training certificates to CCA. The form must be signed by an Authorized Officer listed on your DOA Authorized Signatory Form (DA-04-121-Cardinal). All CCA forms can be found at https://www.doa.virginia.gov/forms.shtml#ChargeCard TIP for PSUB PA’s: o add/delete PA’s by contacting the Dedicated Servicing Team o a lso, remember to add/delete the PA in Works For Discussion Purposes Only; Proprietary and Confidential Information of Bank of America Question # 3 The new Single Transaction Limit (STL) increased to $10,000 for State Agencies. Should I change ALL my Cardholder’s profile to match the new limit? What is the Single Transaction Limit for PSUBS? Factivity answer # 3 For State PA’s: o NO. PA’s must review and justify if their Cardholders need an increase. o Temporary and permanent increases within the State mandated limits can be increased by PA’s without DOA approval. As such, requests received will be denied. For PSUBS PA’s: o Each PSUBS sets their own STL. The STL should be included in your Policies and Procedures. For Discussion Purposes Only; Proprietary and Confidential Information of Bank of America Question # 4 Sometimes, I call the wrong Servicing Team at Bank of America. How do I know which team to call? Factivity answer # 4 For Discussion Purposes Only; Proprietary and Confidential Information of Bank of America Factivity answer # 4 (cont.) For Discussion Purposes Only; Proprietary and Confidential Information of Bank of America Question # 5 What is Virtual Payables? Factivity answer # 5 For State PA’s: o Virtual Payables is an electronic accounts payable solution to facilitate post-invoice payments to our supplier using a dedicated credit card administered by DOA. o COVA has partnered with Bank of America to facilitate the enrollment process which includes calling and mailing campaigns. o Suppliers who enroll and agree to accept credit card payments for any dollar amount are able to receive their payment up to 14 days earlier as an incentive. o The current processes for orders and invoices remain the same. The only change will be to the payment process. o A Virtual Payables supplier will have an active EPAY default location and an approved voucher will have a GE Payment Method in Cardinal For Discussion Purposes Only; Proprietary and Confidential Information of Bank of America Factivity answer # 5 (cont.) For PSUBS: For Discussion Purposes Only; Proprietary and Confidential Information of Bank of America Question # 6 What should I do if I receive a FOIA Request? Factivity answer # 6 For State PA’s: o REDACT all Account Numbers (Corporate and Cardholder) o REDACT all Cardholder Names Virginia Freedom of Information Act § 2.2-3705(13) provides an exemption for credit card account numbers. While there is no specific exemption for Cardholder Name we recommend withholding cardholder names. This is a recommended best practice from the Bank of America. When we withhold cardholder names, we site exemptions related to internal control, Virginia Freedom of Information Act § 2.2-3705.2.9, § 2.2-3705.2.2; Government Data Collection and Dissemination Practices Act § 2.2-3803.A.3 and 9; and Virginia Information Technologies Agency § 2.2-2009.A.3. If your request is for a specific cardholder's transactions we recommend responding in a manner that it does not confirm they have a card, i.e. “Attached you will find a list of all card transactions for the Insert agency name”. For Discussion Purposes Only; Proprietary and Confidential Information of Bank of America Factivity answer # 6 (cont.) For Discussion Purposes Only; Proprietary and Confidential Information of Bank of America Question # 7 Are there additional resources available for PA’s to learn more about the card world? Factivity answer # 7 YES, there are two resources we would recommend.