Navigating the Top 50 Most Important Safe Deposit Operating Procedures – 2015 Update
The safe deposit operation is a unique, fast-changing service in the financial industry.
It’s the only service in which members of your staff don’t know the value of a consumer’s assets. As a result, every vault transaction can lead to considerable liability.
Effective procedures and sound daily practices can counteract and minimize this risk. Learn the “nuts and bolts” and recommended day-to-day operating procedures for your institution.
What You Will Learn
Learn answers to the questions below and more to establish and improve your procedures:
- Can a renter’s safe deposit key now be duplicated using a “new” iPhone app?
- How can a safe deposit key be duplicated using silly putty and epoxy glue?
- Why should keys to all unrented boxes by secured in locking key wallets?
- Why should renters be given a “No Insurance” disclosure form?
- Who should handle the renter’s key and container during a box access?
- What tools (purchased on eBay) can open a renter’s safe deposit box?
- What 10 items must be included in a “New Safe Deposit Renter’s Kit”?
- What liability exists if access is allowed “before or after” lobby hours?
- What 5 types of identification are needed on every new box rental?
- Why must safe deposit keys be maintained under strict dual control?
- What 10 steps must be followed when granting access to a box?
- What 10 steps must be performed when a renter closes a box?
- What are the 4 most important key control procedures?
- What are the 4 different styles of box rental contracts?
Safe deposit supervisors, full-time or relief vault attendants, auditors, and any employee who works in the safe deposit area.
David P. McGuinn, President of Safe Deposit Specialists, is a former banker with 45 years of safe deposit experience and is often referred to nationwide as the Safe Deposit Guru. He has trained over 250,000 safe deposit personnel in all 50 states since 1969, and has served as President of AIB and the American, Texas and Houston Safe Deposit Associations. Dave is a featured speaker for the American Bankers Association’s TV network and has been interviewed by the Wall Street Journal, Banking-New York, Washington Post, Money Magazine, New York Magazine, Associated Press, AARP, National Public Radio, FDIC, CUNA, CNN, CBS, ABC, NBC Nightly News and Court TV on safe deposit issues. Dave has created numerous training programs, and his Safe Deposit Policy and Procedures Handbook, Regulatory/Compliance manual, products, brochures and training seminars are the accepted standard.
Institute of Certified Bankers: Visit http://www.icbmembers.org/login.aspx for instructions regarding self-reporting. Estimated credits: 2.5 CE Credits
- Live Webinar which includes 7 Day On-Demand - $265
- Six Month On-Demand – $295
- Live plus Six Month On-Demand – $365
- CD-ROM (Includes Six Month On-Demand) – $325
- Premier (Includes all options) – $395
- Additional Locations – $75
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