Thread Options
|
#193013 - 05/21/04 09:07 PM
consecutive vacation days
|
Anonymous
Unregistered
|
I am in the middle of an HR audit and I seem to remember the requirment for consecutive vacation days was repealed awhile back. I used to be with an FDIC bank and now am with a NCUA credit union. Is this a requirment anymore or is it up to the governing body or each individual financial institution. Thank you.
|
Return to Top
|
|
|
|
#193014 - 05/22/04 05:45 PM
Re: consecutive vacation days
|
10K Club
Joined: Jul 2001
Posts: 83,227
Galveston, TX
|
The FDIC still has that requirement - see this FIL: FIL 52-95 Whether the NCUA has the same, you may have to call them.
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com
|
Return to Top
|
|
|
|
#193016 - 05/24/04 12:47 PM
Re: consecutive vacation days
|
10K Club
Joined: Jul 2001
Posts: 83,227
Galveston, TX
|
Quote:
If you don't do it, you cannot be written up for a violation, but you may be subject to criticism for not following the recommendation.
And the difference being??
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com
|
Return to Top
|
|
|
|
#193019 - 05/24/04 01:56 PM
Re: consecutive vacation days
|
Gold Star
Joined: Jun 2002
Posts: 434
New Jersey
|
You might want to check with your blanket bond insurer - they may have something to say on the matter as well.
|
Return to Top
|
|
|
|
#193020 - 05/24/04 02:03 PM
Re: consecutive vacation days
|
10K Club
Joined: Jul 2001
Posts: 83,227
Galveston, TX
|
Well, that's not necessarily true. The lack of or breakdown in internal control requirements can result in enforcement actions and this is just one piece of appropriate internal controls. I wouldn't paint it into such a small corner as the failure to have an adequate policy to address this internal control may just be a symptom of larger problems and may very well be part of the ammunition for citing the institution for a regulatory violation.
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com
|
Return to Top
|
|
|
|
#193022 - 05/24/04 02:21 PM
Re: consecutive vacation days
|
10K Club
Joined: Jul 2001
Posts: 83,227
Galveston, TX
|
Retread - You and I don't really disagree.
However, I have two specific FDIC regulated clients that would disagree with us regarding the impact of compliance this "recommendation" based on thier last exams and the comments they received in their exam reports.
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com
|
Return to Top
|
|
|
|
#193024 - 05/24/04 06:06 PM
Re: consecutive vacation days
|
Diamond Poster
Joined: May 2004
Posts: 1,475
Big Brother knows and that's a...
|
We did away with 2 consecutive week vacation a few years ago and nothing was ever said. Now this past year, the OCC recommended we put this practice back in place. It was reported in our ROE under Internal Audit, because it is an internal control issue- so they say. We changed our policy, but it is limited to only senior officers and individuals that hold high risk jobs (ie. system administrator's). They are all now required to take 2 weeks consecutively. It seemed to satisfy the regulators.
_________________________
My opinion is mine only- not my employer's!
|
Return to Top
|
|
|
|
|
|