Safe Deposit Box - The Fundamentals *90 Minutes (Session Code: 469)
The safe deposit box operation is a unique, fast-changing service in the financial industry. It is the only product or service in which members of your staff do not know the value of a consumer’s assets. As a result, every vault transaction can lead to considerable liability. Effective procedures and sound daily practices can counteract and minimize this risk. This seminar covers the “nuts and bolts” and the recommended day-to-day operating procedures for your institution.
This session will provide attendees with clear, concise answers to all the basic or complicated questions regarding your institution’s responsibility, liability and daily operating procedures. In addition, you will receive information about many current lawsuits and other nationwide horror stories.
What You Will Learn:
Obtain answers to these questions and more to establish your own internal procedures.
· Why should renters be provided with a “No Insurance” disclosure form?
· Who should handle the renter’s key and container during a box access?
· What tools (purchased on EBAY) can open a renter’s safe deposit box?
· What ten items must be included in a “New Safe Deposit Renter’s Kit”?
· What liability exists if access is allowed “before or after” lobby hours?
· What five types of identification are needed on every new box rental?
· Why must safe deposit keys be maintained under strict dual control?
· What ten steps must be followed when granting access to a box?
· What ten steps must be performed when a renter closes a box?
· What are the four most important key control procedures?
· What are the four different styles of box rental contracts?
Affiliate: $ 100.00
Out of State Pricing:
Regular: $ 150.00
Contact: Mary Jaros (Illinois Credit Union League)
Telephone - May 03, 2012: 10:00 am CT
Duration: 11:30 am CT