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#1959779 - 09/05/14 06:37 PM RDC Audit
clueless Offline
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Joined: Jan 2013
Posts: 29
We do onsite visits for ALL our high risk RDC customers however we do have some out-of-state customers and I was wondering what everyone else's procedures for these customers are. Do you do on-site audits for High risk RDC customers?
Thanks

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#1959832 - 09/05/14 07:42 PM Re: RDC Audit clueless
Sunshine Lady Offline
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Sunshine Lady
Joined: Apr 2014
Posts: 673
Our branch managers do the RDC on-site reviews. Do you have branches in those states?
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#1959854 - 09/05/14 08:06 PM Re: RDC Audit clueless
clueless Offline
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Joined: Jan 2013
Posts: 29
No we don't - they are lending relationships mostly

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#1959856 - 09/05/14 08:12 PM Re: RDC Audit clueless
Sunshine Lady Offline
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Sunshine Lady
Joined: Apr 2014
Posts: 673
Just saying "road trip" - We require that all our on-sites be done in the first quarter of the year. Does your loan officer ever visit the customer or is there anyone who visits that could do the on-site for you?
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Define Success on your own terms, achieve it by your own rules, and build a life you are proud of. Anne Sweeney

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#1959871 - 09/05/14 08:50 PM Re: RDC Audit clueless
clueless Offline
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Joined: Jan 2013
Posts: 29
The Cash Management Operations Manager does it since the loan officers are not "equiped" with the RDC compliance knowledge. I am interested to learn if it is a requirement because all auditors internal and external look for onsite audit docuementations.

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#1959913 - 09/05/14 10:46 PM Re: RDC Audit clueless
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,226
Galveston, TX
Well, every bank has to have the proper risk controls and due diligence established for their RDC program. If your program calls for annual site visits, then just because they are farther away, it does not get them out of your policy requirements. If you don't want to do the visits or it is too costly, then you have two options: 1) charge the customer more or 2) yank the machines. This all should have been included into the calculation to approve these customers for the service in the first place.
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#1959961 - 09/08/14 02:07 PM Re: RDC Audit clueless
John Burnett Offline
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John Burnett
Joined: Oct 2000
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Cape Cod
"The Cash Management Operations Manager does it since the loan officers are not 'equipped' with the RDC compliance knowledge."

Presumably, your lending officers would support the continued access to the RDC service if it helps cement a borrowing relationship. It might be a good investment to get your lenders "spun up" on the RDC requirements, and provided with a checklist. That could be part of their client visits.
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#1960468 - 09/09/14 05:56 PM Re: RDC Audit clueless
clueless Offline
Junior Member
Joined: Jan 2013
Posts: 29
Thank you all for taking time to respond. I appreciate your thoughts which were all very helpful.

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