AET 545 - Bank USA Tutorial


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AET 545 - Bank USA Tutorial

  1. 1. Bank USATeller Training:Cashing Handling Procedures Shannon Rivera | AET545 University of Phoenix Dr. Linda Justus | February 22, 2013
  2. 2. Bank WELCOME USAWelcome to the Cashing Handling Procedure tutorial. The purpose of this training is to ensuretellers have a thorough and clear understanding of cash handling procedures.Upon completion of this tutorial you should be able to: Define secured control Identify cash limits Cash limits Secured control Describe buying and selling procedures Cash Handling Pass Cash Handling Quiz Buy/Sell Money Quiz
  3. 3. Bank HELPFUL TOOLS USABefore we start, let’s cover two areas that can be helpful during the tutorial:  Navigation Tools  Key Terms Helpful Tools
  4. 4. Bank NAVIGATION TOOLS USAYou may have noticed the navigation bar at the bottom of yourscreen. Let’s review the navigational buttons that will serve as helpfultools during this tutorial. Home button - Return to homepage Back button - Return to previous page Pause button - Pause tutorial Forward button - Next page (shaded until current page audio tutorial is complete) Replay button - Replay current tutorial page Save & Exit Save & Exit button - Save progress & exit tutorial (user will return to same location upon next access of tutorial)
  5. 5. Bank KEY TERMS USA Audit Violation Scenario – Example of past audit failure scenarios Balanced – Cash and negotiable items equal to a zero balance once credits and debits are calculated Cash Limit – Limit of cash allowed in teller drawer
  6. 6. Bank KEY TERMS, cont. USA Dual Control – Two employees required to ensure control of access  Negotiable items – Customer check, Cashiers Check, Money order, and American Express Travelers Cheques Secured Control – Negotiable and cash items are locked by key or combination; secured by responsible person and not accessible to others
  7. 7. Bank SECURED CONTROL USAAs a teller, you are responsible for the cash and negotiable items in yourcontrol. In order to remain in compliance with the secured controlpolicy, cash, you should be mindful of these1. Ensure that your teller drawer is locked at all times  Both top and bottom drawers are to be locked by use of your key and combination for coin vaults  This includes when you are sitting at your teller station; at times as tellers you may become comfortable with your co-workers and trust that the person sitting next to you would not steal from your teller drawer but many thefts have occurred due to this lax in secured control procedures
  8. 8. Bank SECURED CONTROL, cont. USA2. Keep your keys and combinations secured  Each teller is provided a key to teller drawers (teller line and cash vault) and combination (coin vault & dual control cash vault)  Keys and combinations are to be kept with the teller at all times  Do not give any person your key or combination  You will be held response for any activity that occurs from this action, internally, including termination, and legally, including criminal prosecution
  9. 9. Bank AUDIT VIOLATION SCENARIO #1 USATeller A does not lock her coin vault because she feels that it would take to long to enter combination for access.Question: Is Teller A following secured control policy? YES NO
  10. 10. Bank AUDIT VIOLATION SCENARIO #1 ANSWER USA Correct! Teller A should have her count vault locked at all times. In this scenario, the branch had preliminary auditors at the bank. An auditor walked by and pulled the door to Teller A’s coin vault and thedoor opened. Teller A violated the secured control policy and the error was notated as a deficiency on the audit report.
  11. 11. Bank AUDIT VIOLATION SCENARIO #2 USA Teller B is currently busy helping customers and his supervisor needs access to the main vault but this vault requires dual control access. Thesupervisor asks Teller B to borrow his combination so that she can access vault and Teller can continue to help customers. Question: Should Teller B give his combination to the supervisor? YES NO
  12. 12. Bank AUDIT VIOLATION SCENARIO #2 ANSWER USA Correct It is against secured control policy to give a combination to another person, even management. In this scenario Teller B gave the combination to his supervisor. At theend of the day, the vault did not balanced and was missing $1,000.00. After an investigation and viewing security tapes, both Teller B andsupervisor are terminated for violating dual control policy and will face criminal charges for theft.
  13. 13. Bank CASH LIMITS USABank USA’s policy on teller cash limits are: Top Drawer - $2,000.00 Bottom Drawer - $5,000.00 Coin Vault - $500.00 Important note: Ensure that any foreign currency is accounted into your total cash in teller drawer. If the combination of your teller drawers and coin vault are above $7,500.00 you must sell money to the vault to ensure that you remain in compliance with our cash limit policy.
  14. 14. Bank CASH LIMITS, cont. USA Cash limit exceptions: – Business teller  Same top and bottom drawer limit as a traditional teller, but coin vault limit is $3,000.00 (cash & coin combined) – Vault teller  Same top and bottom drawer limit as a traditional teller, but coin vault limit is $7,000.00 (cash & coin combined)  Teller vault cash limit $50,000.00 .
  15. 15. Bank AUDIT VIOLATION SCENARIO #3 USATeller C has just helped a customer who deposited $2,000.00 in cash and the customer line is very long. Teller C places the currency in his topdrawer assuming that most customers will withdraw cash and he will be under the cash limit within minutes. Question: Has Teller C violated the cash limit policy? YES NO
  16. 16. Bank AUDIT VIOLATION SCENARIO #3 ANSWER USA Incorrect Teller C knows that his top drawer is over the limit from the previous transaction. He could have placed the money in his bottom drawer instead. In this scenario, after the customer line has diminished and tellers are chatting, the teller supervisor conducts a surprise audit at Teller C’sworkstation and found that his top drawer exceeds the cash limit. Teller C fails surprise audit and is placed on a warning.
  17. 17. Bank BUYING & SELLING MONEY USAThroughout your work day there will be a need to buy or sell money.This transaction should occur between you and the vault teller. Buying money – When your cash drawer is low, you can complete an online request to purchase currency or coin from vault teller – Verify currency and cash amount before placing in drawer or coin vault  If there are any discrepancies, address immediately with vault teller
  18. 18. Bank BUYING & SELLING MONEY, cont. USA Selling money – When your cash drawer is over the cash limit, you can complete an online request to sell excess cash – Ensure that vault teller verifies cash once he or she has possession Important note: When completing a buying or selling transaction, make sure that you verify amounts. Once currency and coin are exchanged, that person is accountable for any discrepancies. Also ensure that the vault seller signs off online verifying transaction.
  19. 19. Bank AUDIT VIOLATION SCENARIO #4 USA Teller D has less than $4,000.00 in currency and coin. She realizes that the lunch hour rush is in 15 minutes. Teller D completes a buy request from vault teller.The vault teller receives requests, signs off online, and hands Teller D thecurrency. The customer line is long, so she places the money in her coin vault to count later. Question: Has Teller D violated the buy policy? YES NO
  20. 20. Bank AUDIT VIOLATION SCENARIO #4 ANSWER USA Correct!Teller D has not followed policy. She should have counted the currency before placing in her drawer. In this scenario, Teller D was short $20.00 from the currency purchaseand had to report at the end of the day as an unbalanced drawer. Three occurrences of an unbalanced drawer in a quarter results in a formal warning.
  21. 21. Bank CONCLUSION USA Congratulations!!! You have completed the cash handling tutorialContinue to the next screen to complete Cash Handling Quiz…
  22. 22. Cash Handling Quiz
  23. 23. INSTRUCTIONS Review the question and select the correct answer by clicking on the number beside response In order to pass tutorial, Cash Handling Quiz must be completed with a score of 100% – Answers and score will populate after you have reached the end of quiz – If 100% is not achieved, you can take the quiz after retaking tutorial
  24. 24. 1. What is the cash limit for bottom teller drawer?A. $7,500.00B. $3,000.00C. $5,000.00D. $2,500.00
  25. 25. 2. Storing combination codes in locked teller drawer would not violate secured control?A. YesB. No
  26. 26. 3. A customer has exchanged $3,000.00 in foreign currency, should you count this in your total cash limit?A. YesB. No
  27. 27. 4. When should you sell money to the vault?A. When you have timeB. When your total cash limit is reaching $7,500.00C. After a large cash depositD. When your total cash limit is reaching $5,000.00
  28. 28. 5. What is the cash limit for coin vault?A. $200.00B. $1,000.00C. $500.00D. $50.00
  29. 29. 6. When should your teller drawers remain locked?A. When you leave your teller stationB. At the end of your work dayC. When you are at your teller stationD. A and C
  30. 30. 7. You have received a large cash deposit and need to sell money, who should you sell money to?A. Any available tellerB. Vault tellerC. Business tellerD. B or C
  31. 31. 8. Your manager needs to access the main vault which requires dual control. The customer line is extremely long and they are frustrated. The manager asks for your combination so that you can continue helping customers and she can access the vault. Should you give her the combination?A. YesB. No
  32. 32. 9. You are selling money to the vault teller but he is busy. He takes the money, places in vault without counting, and accepts online.Two hours later he states that your sell is short by $100.00, are you responsible for the shortage?A. YesB. No
  33. 33. 10. What is the total cash limit for teller drawers?A. $7,500.00B. $8,000.00C. $5,000.00D. $10,000.00
  34. 34. End of quizAnswers to follow
  35. 35. Answers1. C 6. D2. B 7. D3. A 8. B4. B 9. B5. C 10. A