Navigating the Top 50 Most Important Safe Deposit Operating Procedures - 2015 Update

The safe deposit operation is a unique, fast-changing service in the financial industry. It's the only service in which members of your staff don't 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. Learn the "nuts and bolts" and recommended day-to-day operating procedures for your institution.


What You Will Learn:

Learn answers to the questions below and more to establish and improve your procedures:

  • Can a renter's safe deposit key now be duplicated using a "new" iPhone app?
  • How can a safe deposit key be duplicated using silly putty and epoxy glue?
  • Why should keys to all unrented boxes by secured in locking key wallets?
  • Why should renters be given 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 10 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 5 types of identification are needed on every new box rental?
  • Why must safe deposit keys be maintained under strict dual control?
  • What 10 steps must be followed when granting access to a box?
  • What 10 steps must be performed when a renter closes a box?
  • What are the 4 most important key control procedures?
  • What are the 4 different styles of box rental contracts?
  • What 10 steps must be followed when granting access to a box?
  • What 10 steps must be performed when a renter closes a box?
  • What are the 4 most important key control procedures?
  • What are the 4 different styles of box rental contracts?


Who Should Attend?

Safe deposit supervisors, full-time or relief vault attendants, auditors, and any employee who works in the safe deposit area.