This Safe Deposit Box Compliance Certification Program is designed to provide your staff with overall knowledge of how to establish correct day-to-day operating procedures, comply with safe deposit box regulations, properly run a safe deposit department and reduce your potential liability. Topics will include potential liability, nationwide lawsuits, safe deposit regulations and many other important compliance issues.
Participants will learn how to properly rent, surrender and access boxes, establish proper key control and comply with current state and federal safe deposit regulations. These four compliance presentations will also answer the "Most Frequently Asked" safe deposit procedures, security and disaster questions and will provide all REQUIRED regulatory and compliance training.
NOTE: The Certification Program is a four part series.
* To receive the Safe Deposit Box Employee Compliance Certification Certificate, one participant at your location must attend all four sessions and pass an online final exam. A $30 exam fee will be charged for each additional participant taking the certification exam.
Covered Topics:Session 1: Nationwide Lawsuits, Liability and Other Legal Issues
March 6, 2014, 10:00 A.M. - NOON (CST)
- Why are safe deposit disappearance claims on the rise nationwide?
- Why was an institution sued for $30 million after an internal box theft?
- Why should all new box renters receive a "No Insurance" disclosure form?
- How can a con man unlock a safe deposit box door in seconds, without a key?
- How can FDIC or NCUA signs, logos or brochures create safe deposit liability?
- Why should you never stamp a box number on your renter's safe deposit box key?
- Would your part-time safe deposit box employee make a good courtroom witness?
- If you are now leaving renters in your vault alone, what terrible things could happen?
- Why must visitors and small children always sign when they take part in the transaction?
- What legal relationship must be included in your contract to reduce your potential liability?
- What FIVE important legal items should be included in your safe deposit rental agreement?
- What FIVE questions must always be answered before accepting a Power of Attorney form?
- What important supporting documents are needed for the FOUR types of rental agreements?
Session 2: Top Fifty (50) "Most Important" Daily Operating Procedures
March 13, 2014, 10:00 A.M. - NOON (CST)
- What FOUR types of ID should be obtained from every signer on a lease agreement?
- What type of box renter identification disclosure is required by the USA Patriot Act?
- What TEN items should be included in every "New Safe Deposit Box Renter Kit"?
- What FOUR requests should always be denied when a renter wants to close a box?
- Why must locks be rotated on all surrendered boxes before they are rented again?
- How long should closed contracts be retained and how should they be filed?
- What TEN steps must be followed when granting access to a renter's box?
- Why should keys to all unrented boxes be secured in locking key wallets?
- Why is it better to use an access slip rather than an access card or ledger?
- What FIVE steps must be followed when a renter loses both of his keys?
- Why should renters not be allowed to return their box or lock their door?
- Why should vault access before or after lobby hours always be denied?
- How should you handle a renter's key when it is received in the mail?
- Why should a renter's key never be left hanging in an unlocked door?
- How many guard keys or sets of keys should be in use at one time?
- What FOUR items must be included in your box surrender clause?
- What FIVE items should a "Non-Renter Access Form" contain?
- Where should guard keys be kept during the day and at night?
Session 3: Federal and State Regulatory Compliance and Other Legal Issues
March 20 2014, 10:00 A.M. - NOON (CST)
- Does your contract's "Right of Offset" clause allow you to debit a box renter's account?
- What should you do with dangerous or illegal contents found in a drilled past due box?
- Are your procedures in compliance with OCC/FDIC/NCUA examiner's requirements?
- Why do some states require a new renter to receive a "No Insurance" disclosure form?
- Can you modify a contract and add a "Payable-On-Death" or "Living Trust" clause?
- What SEVEN suspicious safe deposit transactions sometimes require filing a SAR?
- Are you following the new federal safe deposit document retention requirements?
- Do all Americans with Disabilities Act regulations apply to safe deposit boxes?
- Who can legally enter a (single or joint) deceased renter's box in most states?
- How does the USA Patriot Act affect all safe deposit operations nationwide?
- How can incorrect past due drilling procedures make a box renter
Who Should Attend?
This safe deposit compliance program is designed to update compliance officers, safe deposit supervisors, vault attendants, branch managers, security personnel, auditors, training directors, new account representatives and your in-house legal counsel.
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