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Safe Deposit Fundamentals and Compliance Issues Seminar

Morning Session:  Safe Deposit Fundamentals

Safe Deposit training is crucial in the operation of this 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 safe deposit seminar will provide 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.

Obtain answers to these questions and more to establish you own internal procedures:

•Why should renters be provided with a “No Insurance” disclosure form?
•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 are the four most important key control procedures?
•What are the four different styles of box rental contracts?

Who Should Attend?

This informative program will benefit safe deposit supervisors, full time or relief vault attendants, auditors, or any employee who works in the safe deposit area.

Afternoon Session:  Safe Deposit Compliance Issues

Are your internal safe deposit procedures now in compliance with all state, federal and security regulations and do you follow correct day-to-day operating procedures? These two timely and comprehensive presentations contain important information about your “Most Frequently Asked” operations and compliance questions. They cover the USA Patriot Act, Suspicious Activity Reporting, Bank Protection Act, OCC, FDIC, NCUA and ADA regulatory requirements, plus recommended procedures for renting, surrendering, box access, key control, deceased renters, living trusts, payable-on-death accounts, delinquent boxes, record retention, unclaimed property and many other legal and operation issues.

This safe deposit box seminar will provide clear concise answers to complicated questions regarding your institution’s responsibility and potential liability. He will also identify and discuss various compliance issues and provide current examples relating to each regulatory, operations and security topic.

Does your vault security comply with all Bank Protection Act requirements?
Are you now handling deceased safe deposit box renter transactions properly?
Are you familiar with your state’s unclaimed property reporting requirements?
Do you have documented SAR and USA PATRIOT Act employee training records?
Are your delinquent box collection procedures in compliance with your state laws?
Are you aware of the OCC, FDIC and NCUA safe deposit examination requirements?
Do you have procedures describing all seven transactions that require a “SAR” filing?
Do you follow correct federal record retention requirements for safe deposit documents?

Who Should Attend:  This informative program is designed to update compliance officers, vault supervisors and attendants, branch managers, auditors, training directors, new account personnel and your in-house legal counsel.

Schedule and Registration Information

Choose the delivery type that best suits your needs.  Tuition includes textbook (if applicable).
Webinar times are EST.  All other class times are local time.

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