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#2272461 - 07/06/22 07:00 PM Compliance Officer Employee Account Access
Anonymous
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What level of access does your Compliance Officer have to employee accounts?

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#2272464 - 07/06/22 07:07 PM Re: Compliance Officer Employee Account Access Anonymous
M Cockrell Offline
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M Cockrell
Joined: Jan 2003
Posts: 1,038
Dallas, TX
Zero. Told "We let external auditors handle employee accounts."
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"Remember no man is a failure who has friends." - Clarence (the Angel) Oddbody - It's a Wonderful Life

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#2272475 - 07/06/22 08:15 PM Re: Compliance Officer Employee Account Access Anonymous
HappyGilmore Offline
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Joined: Jun 2004
Posts: 19,608
Pulling people out of the ditc...
access to employee accounts is on a business need, compliance officer does not fall into the business need category
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Providing alternative truths since the invention of time

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#2272477 - 07/06/22 08:51 PM Re: Compliance Officer Employee Account Access Anonymous
Rocky P Online
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Joined: Jun 2003
Posts: 7,460
Florida
In a smaller bank, I had access as auditor, not as compliance officer. Also, could not let any staff review the statements, and the report was solely to the audit committee in private session.
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Integrity. With it, nothing else matters. Without it, nothing else matters.

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#2272478 - 07/06/22 08:56 PM Re: Compliance Officer Employee Account Access Anonymous
InFairness, CRCM Offline
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InFairness, CRCM
Joined: Nov 2010
Posts: 707
USA
Limited access for compliance monitoring. Usually income is redacted for employee privacy.
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Opinions are strictly my own, and have nothing to do with my employer.

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#2272488 - 07/07/22 12:41 PM Re: Compliance Officer Employee Account Access Anonymous
SmallBankBSA Offline
100 Club
Joined: May 2018
Posts: 194
Is your Compliance Officer responsible for BSA duties as well? Then I can see having access to employee accounts if that is the case for monitoring purposes as InFairness stated.

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#2272559 - 07/08/22 01:38 PM Re: Compliance Officer Employee Account Access Anonymous
Anonymous
Unregistered

Different Anon here, I'm Compliance and BSA. I have access to Employee Accounts. I review for insider abuse, BSA, etc. It's totally going to depend on the depth, size and complexity of your institution.

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#2272580 - 07/08/22 05:35 PM Re: Compliance Officer Employee Account Access SmallBankBSA
InFairness, CRCM Offline
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InFairness, CRCM
Joined: Nov 2010
Posts: 707
USA
Originally Posted by SmallBankBSA
Is your Compliance Officer responsible for BSA duties as well? Then I can see having access to employee accounts if that is the case for monitoring purposes as InFairness stated.

I don't have BSA duties. Our BSA officer also has limited access for monitoring purposes. My team looks at insider abuse, own-account transactions, etc.
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Opinions are strictly my own, and have nothing to do with my employer.

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#2272591 - 07/08/22 08:01 PM Re: Compliance Officer Employee Account Access Anonymous
JWills, CRCM Offline
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JWills, CRCM
Joined: May 2013
Posts: 1,764
The Mitten State
I'm compliance, and have no access to employee accounts. When information is requested by auditors or examiners, our VP of HR will provide that information directly to them.
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Nonsense wakes up the brain cells.

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#2272647 - 07/11/22 09:50 PM Re: Compliance Officer Employee Account Access Anonymous
ACBbank Online
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ACBbank
Joined: Jul 2006
Posts: 4,242
New York City
Compliance means different things for different banks. At my place compliance is regulation compliance and does not have access to insiders. I am the BSA Officer and I do have access for monitoring purposes. We have had employees generate alerts in the past and it occasionally still happens.

Legal can and does monitor for personnel attempting to access employee accounts to make sure any access is for business purposes. External audit does reviews during the appropriate audits as well.
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"100 victories in 100 battles isnt the most skillful. Subduing the other's military w/o battle is the most skillful." Sun-Tzu

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#2272742 - 07/13/22 01:39 PM Re: Compliance Officer Employee Account Access Anonymous
Anonymous
Unregistered

THIS IS WHY YOU DO NOT BANK WHERE YOU WORK.

Then there's no need for ANYONE to look into your account for any "business need".

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#2272752 - 07/13/22 02:54 PM Re: Compliance Officer Employee Account Access Anonymous
Rocky P Online
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Joined: Jun 2003
Posts: 7,460
Florida
Anon, politely disagree.
As auditor, the audit program was to check for multiple deposits (same day >3), more than 12 statement deposits excluding pay and interest, and deposits that would trigger a CTR. Concerns with someone with access to accounts [stupidly] putting money into their oen account.
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Integrity. With it, nothing else matters. Without it, nothing else matters.

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#2272763 - 07/13/22 04:06 PM Re: Compliance Officer Employee Account Access Anonymous
SmallBankBSA Offline
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Joined: May 2018
Posts: 194
Anon, I do agree about not banking where you work. I keep a small mad money account at my bank but keep my every day account with another institution.

Years ago (early 2000s), I worked for a different bank and I recall one member of the department that would look into others accounts to see pay, where they spent their money etc etc. We had access for investigation purposes at that time. I left there several years ago but prior to leaving I do recall they put a control in place for accessing employee accounts.

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#2272771 - 07/13/22 05:42 PM Re: Compliance Officer Employee Account Access Anonymous
HappyGilmore Offline
10K Club
Joined: Jun 2004
Posts: 19,608
Pulling people out of the ditc...
Originally Posted by Anonymous
THIS IS WHY YOU DO NOT BANK WHERE YOU WORK.

Then there's no need for ANYONE to look into your account for any "business need".

except, of course, when the employee wants to cash a check and you want to make sure there are sufficient funds in the account.
or when a bank employee perhaps has a garnishment or levy placed on their account. or it appears they are mishandling client funds and depositing to their own. or covering NSF items or waiving fees (yes, not all banks have something in place to keep an employee from making changes to their own account). or the bank receives a subpoena on an employee account and they must take action to provide information.

essentially, any reason you would need to look into a non-bank employee customer's account, you would have the same business need for bank employee accounts as well. but that access should be restricted to a business need only, and the bank should also have a report that shows who accessed employee accounts and should be reviewed. just looking to see what is happening is not a business need.
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Providing alternative truths since the invention of time

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#2272772 - 07/13/22 05:45 PM Re: Compliance Officer Employee Account Access SmallBankBSA
Anonymous
Unregistered

Originally Posted by SmallBankBSA
Anon, I do agree about not banking where you work. I keep a small mad money account at my bank but keep my every day account with another institution.

Years ago (early 2000s), I worked for a different bank and I recall one member of the department that would look into others accounts to see pay, where they spent their money etc etc. We had access for investigation purposes at that time. I left there several years ago but prior to leaving I do recall they put a control in place for accessing employee accounts.

This was my anon post, and thank you. Some years ago, I worked for a small bank, where I also had my primary checking account. Some friends and I went out drankin' on a Saturday night and I ended up writing 4 or 5 checks to the bar where we were indulging (can you even imagine writing a check at a bar these days?). Anyway, somehow these checks were deemed "suspicious" by a superior of mine, who brought me in their office and wanted to know why I was writing so many checks to one "business". I can't for the life of me recall what excuse I used, but without a doubt, I promptly closed my account and opened it at the bank across the street. I'll tell a stranger anything they want to know, but I'll be da#med if I'm explaining to my coworkers where I go on my off time.

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