Properly Audit Your Safe Deposit Department: 30 Important Steps (2016 Update)
Improve Your System: Management should take full advantage of an effective safe deposit audit program to protect against losses due to negligence or carelessness.
The mysterious disappearance of property from either internal theft or burglary must be avoided. Put procedures in place to be certain your attendant uses utmost diligence in making sure there are no exceptions or deviations.
For auditors to properly perform this task, they must be thoroughly familiar with all aspects of your safe deposit operation. This seminar covers the “nuts and bolts” and important steps to follow to audit your entire safe deposit function.
David McGuinn, a nationally known expert in the area of safe deposit, has audited numerous financial institutions, and will provide clear concise answers to complicated questions regarding your institution’s responsibility and potential liability. He’ll also identify and discuss various audit issues.
Get answers to the following questions and establish internal procedures to comply with proper safe deposit requirements.
- What are the 30 most important audit questions that must be answered “YES”?
- Have you measured all the boxes to make sure the correct rent is being charged?
- Why should you perform a complete key audit to determine if you have all keys?
- Do you know that all renter signatures match the names typed on the contracts?
- Why is a vault survey of all box numbers and sizes important during this audit?
- Do you have current resolution forms for all your rented business boxes?
- Are all the blanks on the contract filled in properly with no white outs?
- Have you reviewed access records for the time, date and proper initials?
- Why must all keys found be listed as Available or Service Required?
- Are all renter signatures authorized to enter the safe deposit box?
- If “MYSTERY BOXES” are identified, how should they be handled?
- Why should you record all past due, free and discounted boxes?
- What 5 types of Management Reports must be prepared?
Internal auditors, vault supervisors, and safe deposit attendants
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. In all 50 states he has trained over 250,000 safe deposit personnel since 1969, and has served the industry 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 current safe deposit issues. McGuinn has created numerous training programs and his Safe Deposit Policy and Procedures Handbook, Regulatory/Compliance manual, products, brochures and training seminars are now the accepted standard for the financial industry.
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
Online: Click here.
Phone: Call Total Training Solutions at (800) 831-0678
Register online up to day of event. Earlier registration allows time to check your computer for an optimal experience.