Our small bank monitors the new account report diligently. We also monitor employee accounts.

Given these controls, what are the risks with allowing a loan officer to post loan advances for his/her customers?

Always risky, but if you have dual controls on the process, it might be acceptable.

Can anybody's loan officers do loan account maintenance?

Not here, nor at my previous bank.

I wouldn't let them anywhere near it.

Nope.

Our loan officers do not have authority to perform account maintenance.

No way. But I've never worked at a small bank. That would make it more difficult. It would all depend on your controls and audits to make that work.

Not at our bank. Segregation of duties

In order for our loan officers to be able to do loan advances for customers they need to have full loan maintenance capabilities. We are small and our loan officers need to be able to do the advances.

Does anyone else use Fiserv and have that problem?

At a previous employer who used Fiserv, the loan officers gave their advances to an Operations person to process on a block. This offered a little control but keeps the maintenance out of Loan Officers hands.

Do your loan officers put the loans online as well?

No, the loan assistants do this per our dual control procedures. But with the system limitations, the loan officers still could do it if they wanted to try and get away with something.

Do you feel the new loan report review (although loan has already been funded at this time) and employee account review (but who would really use their own name?) are sufficient compensating controls?

If the new loan report provides the identification of who put the loans on line and it is being checked to ensure the loan officer is not performing that function. But the best controls would be to limit the loan officer's access capabilities.