Managing dual control and cash limits is a critical responsibility in any business, but even more so in the financial industry. The teller’s role is integral to creating solid control processes. This program will explain the reasoning behind the procedures, outline potential consequences of cutting corners, and reinforce the importance of managing dual controls and working within established cash limits. Examples of various control logs and procedures will be provided.
- Relating the “fraud triangle” to frontline operations
- How to maintain the proper cash limits, including procedures for ordering and sending cash to the Federal Reserve or your cash courier service
- Dual control issues and procedures:
- Vault entry logs and cash
- Security logs (e.g., bait money, security device logs, etc.)
- Teller and ATM audits
- Financial loss scenarios to demonstrate internal control breakdowns and resulting legal and reputational risk
- TAKE-AWAY TOOLKIT
- Written procedures covering dual control for frontline functions
- Written procedures for cash limits
- Audit steps to test the documentation trail
- Sample logs
- Case studies designed to reinforce dual control and cash limits
- Employee training log
- NEW: Interactive Quiz to measure staff learning
WHO SHOULD ATTEND?
This informative session is designed for tellers, head tellers, assistant head tellers, branch trainers, and auditors.
SPEAKER: Molly Stull, Brode Consulting Services, Inc.
Molly Stull began her career as a teller while working on her undergraduate degree and has continued working in the financial industry ever since. She has experienced the growth of a hometown bank, acquisitions of branches, mergers, charter changes, name changes, etc. Molly has activated business resumption plans, performed secondary market quality control reviews, processed wires, filed SARs, and coordinated reviews with external auditors and examiners. Her favorite role has always been educating staff and strongly believes that if staff understands the reason for a process they will be more compelled to follow the procedures. Molly holds a Bachelor’s from the University of Akron and an MBA from Ashland University.