AUDIT EZ
What is the primary drawer end of day limit?
$100
The BSA is to make sure that we are not telling the other banks what we do at Commerce bank
False
Bonus 30pts
It is to report any money laundering or fraud. For example: someone avoiding a CTR
what does CTR stand for? When is one required?
- Currency Transaction Report
- It is required when all transactions in or out exceeds $10k
explain 4 ways to safeguard sensitive information
- keep it off your desk
- secure it
- shred it
- lock computer
- do not discuss info if others can overhear
Bonus 50- name all
explain opening procedures
searcher
lookout
What is the top drawer limit?
$3500
CRA Stands for Criminal reckless activity
false
Bonus:25pts
Community Reinvestment Act
Before printing the Chexsystems disclosure, what should you do
input the date
what is REG E?
this require the bank to act when a customer disputes a transaction
explain night drop procedures
****
What does BSA stand for?
The Bank Secrecy Act
If a customer requests to close an account with pending transactions. You can close the account.
True
Bonus 50 pts:
Bankers can list transactions that need to be paid in Appian
when quoting interest rates for credit product, what key piece of information do you need to include
annual percentage rate (APR)
what is Reg B and how do you document it
joint applicant consent
- branch: comments to underwriter
-originate: select yes from drop down
- cc: check box
explain closing account procedures
- use appain to close account
- *** must restrict account***
How long can foreign currency for customers stay in the branch
3 business days
Cash advance limit is $15k
False
Bonus 15pts
limit is $5k
name 4 types of account holds
new account
repeat overdrafts
large deposit
previous returned
reasonable cause
Bonus 40- name all
what are 2 reasons to place a reasonable hold on a check
- check lost or damaged
- reason that it may return
- postdated
- inconsistent information (alterations)
explain EOD balancing the Rbg 40
****
What is dual control
****
Callers who claim to be Commerce employees do not need to be verified before giving out confidential information.
False
Bonus 150pts
ALL commerce employees must verify with the security image
what steps are required if the message " account is dormant. need to investigate " is displayed when conducting a transaction.
- use caution
- be certain of customer's ID
- get manager's approval when appropriate
what are the required disclosures the must be given out for personal accounts
- personal deposit rates
- fee schedule
- deposit agreement and disclosure booklet
- privacy statement
- affiliate marketing notice
- what you need to know about overdrafts and overdraft fees
what are the procedures to follow in the event of a robbery
Bank Robbery Prevention
• Exercise good customer service: greet all customers coming into the bank and make eye contact.
• Notify your manager of suspicious persons or vehicles around the bank, especially at opening and closing.
• Keep exterior doors to safes and vaults closed and locked, even during business hours.
• Maintain cash limits in drawers.
• Discuss robbery procedures during branch meetings and rehearse how to react during a robbery. During a robbery
• Surprise, shock and fear are normal reactions; however, try to remain calm.
• Do not try to be a hero - comply with the demands of the robber(s) - do no less or no more.
• If safe to do so, keep the holdup note or any other evidence and handle evidence as little as possible.
• If the robber requests that you return the holdup note to them, then do so.
• Observe the robber(s) closely and note characteristics: age, gender, race, height, weight, build, accent, language, deformities, tattoos, etc.
• Give the robber the amount of money in the demand (or as little as possible if no specific demand is made)
• If it is safe to do so, include the tracking device and activate the holdup alarm. When the robber leaves
• Alert co-workers that a robbery has just occurred and check the well-being of customers and employees.
• Observe the robber’s direction of travel and note the vehicle description.
• Call 911 to notify police and request an ambulance if there are injuries, then notify Security @ 2-8911
• Lock all public entrances and post signs advising the bank is closed – direct them to the nearest branch or ATM.
• Use the Robbery Description Page of the “Robbery Packet” in Appendix A to document events
• Post an employee at the main entrance and only allow law enforcement and bank employees to enter.
• If a customer witness insists on leaving, obtain the name and contact information for law enforcement.
• Lock all currency, coin, and valuables, and lock vaults, safes and transaction station that were not robbed.
• Barricade workstation and protect anything the robber touched for evidence (DNA, fingerprints)
• All employees that witnessed the event will need to fill out a “Robbery Packet”
• Request witnesses to be interviewed by police - speak only to police, FBI, and bank officials.
• Request witnesses to fill out the forms in the robbery packets and provide name, address, and phone number.
• Inform the police, FBI, and bank officials of the amount taken.
• Do not release any information to the media - forward all inquiries to Commerce PublicRelations After the robbery investigation
• Prepare for re-opening.
• Contact Security to reset cameras and holdup buttons.
• Clean up the bank - fingerprint dust from the teller station, doors, or other areas.
• Return furniture to its original location