Audit Jeopardy

Transactions

100

What information is required to be added to a check being cashing by a non-member?

• Thumbprint (preferably right thumb and placed on the front of the draft) & Signature.
• The type of identification, identification number, and expiration date should be recorded on the back of the draft in the endorsement area.
• We need to gather SSN/ITIN number but do NOT write it on the draft itself.

200

Explain the difference between "pre-approval" and "invitation to apply aka pre-qualified"

Pre-approval will not require a credit pull, "invitation to apply" also called "pre-qualified" will require a hard pull to approve. 

300

What is the procedure for accepting an insurance check payable to the member and GreenState?

Verify what type of collateral we have, verify total claim amount with member. All named payees must sign the check. A “GreenState Credit Union” stamp can be used as part of the GreenState endorsement by a Branch Manager, ACE team member, or Mortgage Loan Officer of the Credit Union. The officer will then sign and list their title. Follow instructions in KB for each specific type of collateral.

Auto loans (repairable) - apply directly as principal payment and control payouts. All processed by Collections Processor.

Mortgage - It total claim over 15k for in house loans must use insurance claim specfile. If under 15k total claim amount funds can be deposited to members account.

400

What is the process for accepting signed over checks?

Both parties must be present with a valid photo ID.

 The original payee endorses the check over to another person by writing “Pay to the order of” and the alternate person’s name, followed by their endorsement. The person to whom the check is now made payable (the third party), then endorses the check. 

• We do not accept paid over Treasury checks (Example: Social Security or Tax return checks).
• We do not accept a non-member paid over check to another non-member. A non-member may ONLY pay a check over to an existing member. 
• You must ALWAYS run OFAC on the listed payee of the check (non-member) BEFORE cashing for the member! OFAC is a regulatory requirement and must not be missed.

500

What is the procedure and any restrictions for processing a credit card advance for a non-member?

Maximum cash advance amount of $500.00 for non-members 

A photo ID is required. The type of identification, identification number, and expiration date should be recorded on the Credit Union copy of the cash advance slip. The name on the card and the signature must match the photo ID. If there is no name present on the card, we will not process the cash advance. 

The presenter’s thumbprint must be placed on the front of the Credit Union copy of the cash advance slip. The right thumb is preferred. In situations where that is not possible, use your judgment to obtain an alternate thumbprint substitute. No exceptions to the Thumbprint policy are permitted.

Can't do multiple transactions in same day on a card

Only accept VISA, Mastercard, and Discover cards.

New Accounts

100

Which account owners or signers has OFAC run on them during a new account opening?

All of them

200

Do we pull credit on business account signers?

Yes, if they are also an owner. No, if they are signers only. 

300

How many versions of paper member packets do we have in branch? What are they? When do we hand them out?

2 versions - Standard paper member packet & Business member packet.

Every time a new account is opened. If a joint account, disclosure may be given to one of the account holders.

If account is opened digitally a digital member packet will be sent by Marketing and is available in Docusign.

400

Name 5 valid proof of address documents

See KB for full list

IDs - Firearms Owners, community ID, US voter Registration Cards

Vehicle registration - Vehicle, boat, RV Registrations or vehicle title

Statements - Bank statements from another FI dated within 60 days. Rental agreements(full agreement w/signatures), mortgage billing statement(non greenstate), apartment lease.

Pay & Taxes - Pay stubs (within 60 days). Property tax bill. Tax returns (signed). W2s

Insurance Items - Ins declarations page, Insurance ID card (must be unexpired and show member name and address). Insurance bill for vehicle.

Other - Letter from educational or religious institution ( must be on letterhead, contain a reps name, signature, and date within last 60 days). Job offer letter. Closing Disclosure on house.

SSN card stub with mailing address

SSN benefits letter

Immigration/Asylum/citizenship application receipt/approval letter.

500

A member wants to open a new safe deposit box in July, how do you know what to charge them?

A pop up will tell you the prorated amount for the year based on when the box is opened. You will need to manually change the "Actual Fee Amount" line on the next transaction screen so that they match. 

Dual Control

100

Can my coworker open the night drop while I count debit cards?

No, both require dual control. 

200

What debit card operations are required to be done in dual?

Opening cards, putting into machine, posting cards in or out of vault, signing log, taking cards out, counting cards, balancing at end of day, replacing ribbons, accepting card shipments, destroying cards, destroying ribbons

300

A member wants to make a $5,300 withdrawal and there's no other team member available. You know this member well, the funds are collected, and they are using it to buy a car. In this case is it ok to use your ACEs code and tell them about it after?

Absolutely not. You need to find a team member that can step away briefly and provide the second code for the transaction. 

400

Your vault teller is at lunch, and you need to get money from the vault. You are not trained on the vault yet but know the combination. Is it ok to go back by yourself this one time and sign both lines of the cash slip?

No, you can only go back to get the cash if you are vault trained, and you need to have a second person verify the cash that comes out of the vault matches what is written on the slip and they need to sign showing they verified it. 

500

List off 6 tasks in the branch that require dual control

Night Drop, Debit card loading, debit card unloading, receiving and bagging cards from CADS, verifying ribbon count at end of day, SDB door close, Vault door close, Cash sell out of vault, cash buy from vault, Recycler audits, opening up a recycler/CRM.

Reporting

100

What does CTR stand for and when do you need one?

Currency Transaction Report: aggregate cash transactions of over $10k in a single day. 

200

Give 2 examples of when you would file an Unusual Activity Report (Suspicious Activity Report)

Examples of situations that warrant reporting include (but are not limited to): 

• Asking questions on “government reporting”. 
• Attempts to avoid Currency Transaction Reports (CTRs) by splitting large cash transactions across multiple days: Including changing transactions so the amounts are under $10K (Structuring).
• Frequent or large cash transactions with no known or logical source/reason.
• Check kiting (moving funds via check from like ownership accounts between GreenState and other FIs).
• Fraud, identity theft, money laundering, elder abuse, tax evasion, etc.
• Anything that makes you think “hmm, that’s odd” or “hmm, that’s not normal”.
• Anyone inquiring whether a Suspicious Activity Report (SAR) has been or will be filed.
  • Applies to employees and members.
• Concerning use of multiple branch locations which appears out of pattern for the member.

300

What is a TIN mismatch and where do you check for any existing ones?

TIN mismatch report in Power BI or alert on members account in Symitar. 

“TIN MISMATCH” means the primary account holder’s name or the Social Security Number/Employee Identification Number on file does not match what the Social Security office has.

The TIN Matching process is when every month CADS matches a member’s name and TIN (Tax ID number/Social Security Number/Employee Identification Number) against the IRS database. They primarily do this to make sure we have accurate information on file and also because we receive yearly fines from the IRS for any TIN mismatch. That IRS fine is $250 per mismatch. 

400

What are 4 red flags for potential elder abuse?

Red flag examples:

• Irregular transactions inconsistent with normal account activity.
  • New Pay Pal with no history of Pay Pal use.
  • New or increasing OLB transfers to unrelated accounts.
  • New Venmo usage out of character for the member.
  • Cashing many checks or large checks made payable to a family member or caregiver. You can see the checks are signed by the elder member, but all other information is filled out by another person.
• Erratic or unusual financial transactions.
  • Large or frequent wires that are uncharacteristic for the member.
  • Their account is being regularly overdrawn, but it has been unusual for the member to overdraw their accounts in the past.
  • Large withdrawals of cash out of character for the member and/or the purpose of the withdrawal is suspect.
  • The member is being prompted to complete a transaction by a relative, a caregiver, other third party either in person or on the phone with the member.
  • New loan requests due to needing the money for a relative/friend or an inconsistent or unusual reason based on the member and their circumstances.
• The member is accompanied by a third party to conduct transactions with them and:
  • The member seems confused or nervous around the accompanying person.
  • The accompanying person seems to be intimidating the member into requesting transactions or to giving them access to their accounts.
  • The accompanying person talks for the member when the member is asked a question.

500

What is a red flag complaint and when must it be reported?

A Red Flag complaint occurs when a red flag term or phrase is mentioned in writing or expressed verbally by a member, non-member, or vendor. Red flag terms and phrases could include, but are not limited to:

• Lawsuit/Illegal/Retain an attorney
• Discrimination
• Deceptive/Predatory/Unfair
• Violation of my rights/Regulatory references
• Contacting the media/Posting negative commentary on social media
• Filing a complaint (e.g. State, Attorney General, Better Business Bureau (BBB), etc.)

 

A complaint must be reported if a Red Flag term/phrase is mentioned; however, departmental processes must still be followed, such as a member call back or other departmental requirements. 

Staff must promptly inform their supervisor of Red Flag complaints so they may be involved in the resolution. The type and level of involvement are at the discretion of the supervisor. This includes approving the proposed resolution, assisting with the solution, or other actions as deemed necessary.

Loans

100

If you start an application, fill out member and loan info, and hit decision and it auto approves... what must you first make sure there is before finalizing the loan?

Comment- often forgotten about with an auto approved application. Every application requires a comment.

200

What are SafeScan messages? Where do you go to see them in temenos? 

These are alerts/messages that are flagged for a variety of reasons. They exact warnings should always be viewed in the credit report itself and then navigate to KB to follow proper procedures on how to clear them.

300

When are you required to manually generate and disclose on a home equity loan?

When "in person" is elected at application start.

Documents are generated in IMM and need to be printed and then attached to the application

400

Name Two categories that a SafeScan alert can pertain to.

Address related alerts

SSN alerts

Telephone # alerts

Consumer related alerts

500

What should you do if you have a SafeScan alert "initial fraud" or "extended fraud" on a credit report?

Follow the directions on the alert. Contact the member using the number provided. Otherwise, verify identity through driver’s license, out of pocket questions about the credit report, etc.