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    2 Branch Operations Audit Checklist

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    AHHudson
    Branch operations are audited regularly to ensure dual controls over monetary instruments and physical security, adherence to information security policies, proper signage, and cash handling procedures. Key controls include dual custody of travelers checks, checks, gift cards, and security equipment, as well as logs to track access to restricted areas and cash supplies. Tellers must follow policies on transactions over $1,500, cashing savings bonds, and prohibitions against returning cash directly to employees. Safe deposit box controls include documentation for access and procedures for past due rent. Night drop deposits require dual verification and authorized personnel.

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    2 Branch Operations Audit Checklist

    Uploaded by

    AHHudson
    3K views2 pages
    Branch operations are audited regularly to ensure dual controls over monetary instruments and physical security, adherence to information security policies, proper signage, and cash handling procedures. Key controls include dual custody of travelers checks, checks, gift cards, and security equipment, as well as logs to track access to restricted areas and cash supplies. Tellers must follow policies on transactions over $1,500, cashing savings bonds, and prohibitions against returning cash directly to employees. Safe deposit box controls include documentation for access and procedures for past due rent. Night drop deposits require dual verification and authorized personnel.

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    Branch operations are audited regularly to ensure dual controls over monetary instruments and physical security, adherence to information security policies, proper signage, and cash handling procedures. Key controls include dual custody of travelers checks, checks, gift cards, and security equipment, as well as logs to track access to restricted areas and cash supplies. Tellers must follow policies on transactions over $1,500, cashing savings bonds, and prohibitions against returning cash directly to employees. Safe deposit box controls include documentation for access and procedures for past due rent. Night drop deposits require dual verification and authorized personnel.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    3K views2 pages

    2 Branch Operations Audit Checklist

    Uploaded by

    AHHudson
    Branch operations are audited regularly to ensure dual controls over monetary instruments and physical security, adherence to information security policies, proper signage, and cash handling procedures. Key controls include dual custody of travelers checks, checks, gift cards, and security equipment, as well as logs to track access to restricted areas and cash supplies. Tellers must follow policies on transactions over $1,500, cashing savings bonds, and prohibitions against returning cash directly to employees. Safe deposit box controls include documentation for access and procedures for past due rent. Night drop deposits require dual verification and authorized personnel.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    Branch Operations Audit Checklist

    MONETARY INSTRUMENTS
    Travelers Checks are held under dual control & are periodically audited under dual control
    Bulk Official & Loan Disbursement Checks are held under dual control & working supply is under dual control
    at night
    All checks (official checks or loan disbursement checks) are being logged
    Review check logs to ensure that no one is using official or loan checks to pay for branch expenses
    Review new loans for all officers in the location & sample loan disbursement checks to ensure that loan
    assistants & officers are adhering to loan disbursement guidelines (up to $2500 L.A. can sign singly, over
    $2500 requires L.O. and L.A. signature, anything over officer’s lending limit requires appropriate committee
    signoff on credit sub to disburse).
    Tellers are aware that the payee of an official check must be OFAC’d if the amount is greater than $1,500
    Gift Cards are held under dual control & are logged when removed from bulk supply or sold
    PHYSICAL SECURITY
    Individual Key/Combo logs are filled out for all employees – review logs to ensure that combos haven’t been
    compromised
    The Dual Control Key Box Log is being used properly & all items have been returned
    Key box includes: collateral box keys, ATM keys, unrented safe box keys, any other internally used safe
    deposit box, etc
    Logs are being completed each time a dual control compartment is accessed
    Server rooms & security equipment are kept locked with security equipment keys under dual control
    Doors to the vault room from the teller line are kept closed
    All doors to restricted areas (server rooms, employee only areas, etc) are locked
    Review opening procedures with the branch personnel to ensure that they are being followed
    The all clear sign has been changed at least once in the past quarter
    Alarm system listing has only current employees on it
    INFORMATION SECURITY
    All personal account information is locked up at night and is not in an area during the day where customers
    would have access to it (monitors turned away from customers, loan vaults locked, customers can’t access
    their safe box where loan files are kept out, file cabinets are locked if customers are allowed in the safe box
    area unattended, etc)
    Customer sensitive information is not taken home at night (loan files, signature cards, etc).
    When possible, the courier is used to transport customer sensitive information between branches
    Computers are not left unlocked with an employee logged in and unattended
    There are no passwords shared (teller stations, network, alarm pin codes, dual control combos, etc)
    SIGNAGE
    Appropriate FDIC signs and Funds Availability Policy signs are displayed in the branch in appropriate areas (&
    FDIC sign not displayed when a licensed RLM is selling an annuity)
    Employees know how to access the bank’s fraud hotline & what avenues are available to them (confidential
    and anonymous avenues)
    Appropriate fraud hotline signage is displayed in the restrooms
    CASH PROCEDURES & SECURITY
    Observe access to teller drawers & stations
    Personnel are not sharing any teller drawers & float drawers are audited between custody changes
    ATM keys are kept under dual control & ATM is accessed under dual control
    Perform surprise cash counts on all cash supplies
    Cash shipments are prepared for shipment and received in under dual control
    No evidence of force balancing

    Last revision 07/30/2010 Page 1


    Branch Operations Audit Checklist

    All bait money is inconspicuously presented (i.e., not labeled “bait” or standing out in any way)
    Tellers know when to notify supervisors of cash variances
    Tellers are aware of their $1,500 large item limit (review teller work for large items not separated out)
    Tellers are aware of their $1,500 ($1,000 for non-customers) savings bond cashing limit in the branch
    All tellers are aware of the policy that they are not to hand a customer’s cash back to an employee (on
    deposits or split payment loans) & that if there is a loan officer making cash payments on loans for customers
    & the customer is not present, that this should be reported to management if it’s occurring frequently.
    Tellers are aware that all cash advances greater than $1,500 must be approved
    Tellers are aware that cash back in the drive through is limited to $1,500 – otherwise the customer must
    come into the bank.
    SAFE DEPOSIT BOXES
    Sample safe deposit box cards to ensure that all appropriate information is documented at the time of entry
    Determine how personnel identify the status of safe deposit boxes (i.e., rented, out of service, available),
    where keys are kept, and their practice on rotation of locks and drilling boxes.
    Request documentation on all boxes that have been drilled since the last audit.
    How do they monitor past due rent on safe deposit boxes to not allow access until rent is paid?
    NIGHT DEPOSITORY
    Compare night drop logs, night drop agreements & pick up cards to ensure that the bank has necessary
    agreements in place & are not allowing unauthorized personnel to pick up.
    Any cash in the night drop deposits is verified under dual control & indicated as such

    Last revision 07/30/2010 Page 2

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