SURPRISE CASH COUNT
What is the purpose of the SCC?
It is a required management tool to account for all cash in the branch and ensures safe and sound operating practices.
Where do you keep your vault stamp and why?
Locked in the VAULT at all times.
If The Vault custodian is out, how is the cash room accessed?
Under dual control. Acess the dual control key box to remove the cash room key.
Who does the branch call for missing cust information or a DATA breach?
Complete the Raise the red flag form & let the Branch Manager know
Are customers required to sign for withdrawals or transfers?
Branches are not allowed to process transfers for customers over the phone, refer them to the contact center. All transactions in the branch can be conducted with virtual tickets AFTER proper CIP and due diligence is performed.
How do you review a cashless box?
Review the cash recap from the 1st day of the month to the date of the SCC for any cash in/out. If cash in/out on the recap, the EJ should be reviewed.
Where do you keep your keys and combinations?
Assigned keys should be kept on the associate, combinations should be memorized or on their locked phone.
Where are the vault shipments verified and stored?
Shipments should be verified in a secure area such as the vault or money room that is out of the sight of the customers. Shipments should be stored under a 10 minute time delay.
What is the process to report associate suspicious activity or fraud?
Report It Hotline
Where are the working supply of NOW cards kept during and after working hours?
The Working Supply is kept universally during the day and stored in the vault at night.
Why is the EJ reviewed when the Cash Counts are completed?
In order to ensure that there are no suspicious transactions to the vault, a GL or a customer that could be fraudulent. EJ reviewed for day prior,current day and following day.
Can you exchange currency for a non- customer?
NO
Explain when and how to transfer control of the vault
When VT sick or on vacation, dual control team will piece verify all mutilated, 20's and above, the rest of the money can be strap verified. Change the combo's and document on the vault custodian log.
Explain the process for removing Night Deposit Bags.
Dual control, log bag/envelops on the paper form. Log bags/envelopes in Transact under sole control. Associate accepting items should compare to the ND log in Transact to ensure the proper number of items were handed to them.
After the vault has been locked, it is discovered the negotiable items were not secured. What would you do?
secure under dual control in the Depository Drop.
How is it decided when the surprise cash count can be completed?
The SCC is a surprise and it is up to the Branch Manager to decide when the SCC should be completed. The Branch manager or designee should check previous dates in order to ensure there is not a pattern.
Explain the process for handling Night Drop bags with a discrepancy that cannot be completed by end of day.
If the customer is unable to correct the discrepancy by end of day, the ND bag(s) should be returned to the night drop. ND bag(s) should be verified under dual control, sealed in another poly bag, initialed and dated by dual control team. A new ND log should be completed. Discrepancy procedures can be located in Transact Manual, Chapter 23.
Explain how to prepare an outgoing shipment
Dual control, in a secure location that restricts access to room, piece verify, restrap, stamp, initial - seal contents in shipment bag(s). Log bag # in branch dashboard. Store shipment(s) in 10 min time delay vault. Re-verify bag # to ensure bag is intact and not tampered with before releasing to Loomis/Brinks.
When can you open deposit accounts over the phone?
NEVER! Depository accounts opened must be in person. Wet or eSign signature is obtained at the time of account opening. If wet signature, card is scanned to CMI while the customer is still present. oR OFFEROMNI CHANNEL
If a customer is unhappy with a Western Union transaction, what would you do?
if a customer is not happy with a Western Union transaction conducted at Regions, the associate should enter the complaint in the Centralized Customer Complaint (CCC) database. If a customer is not happy with an international transaction that was completed at Regions, the complaint should be entered in the Centralized Customer Complaint (CCC) database as well as the Western Union database (WUPOS). If a customer is not happy with a Western Union transaction conducted elsewhere, whether domestic or international, the associate should enter the complaint with the Western Union database (WUPOS).
Describe how the surprise cash count is completed?
The cash count should be conducted under dual control with the assigned custodian as part of the dual control team. The assigned associate may not count the cash or key cash count totals into Transact OR write down the totals before entering into Transact. The assigned associate only observes their cash box being audited.
Explain the process for Escheating Safe Deposit Boxes.
Branch Support/ROM will notify the branch when boxes need to be drilled. Escheatment of SDB are conducted under strict dual control. The dual control team will check the box for contents. If there are are no contents in the box, the team will complete the inventory sheet and notate that the box was empty. They will fax the form to Charla Ferguson and then close the box on the system. If there are contents in the box, the dual control team will complete the inventory form. The branch will make a copy for their records, and place a copy in a tamper proof bag with the contents and seal the bag. The branch will then complete the manifest and prepare the bags to be sent by Fed Ex to Birmingham Vault.
How much can be kept in the working supply vault at all times???
$25,000
Describe process for handling & releasing foreign currency to a customer?
Open currency under dual control and verify, secure in sealed envelope, store under dual control, sign on to CXI to acknowledge receipt. Customer signs and dates branch receipt after verifying the currency, store receipt in ROB.
How are incoming Cashiers Checks & Money Orders handled?
Shipments arrive sealed in increments of 100; under dual control branch logs check numbers into Transact and stores bundles under dual control.