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#68708 - 03/20/03 09:38 PM
Two Weeks Vacation Rules
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Anonymous
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I hope one of you HR experts can tell me where to find the OCC, FDIC, and FRB rule that requires Bank employees to take two weeks vaction each year.
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#68709 - 03/20/03 09:42 PM
Re: Two Weeks Vacation Rules
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This generally regarded as a good practice, but, for OCC related banks anyway, not a written requirement. It is a good fraud detector.
Also, absence is a better description than vacation. You could go to a school and add some vacation time to it or cross-train in another part of the bank (totally NOT doing you old job) to meet the intent here.
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AndyZ CRCM My opinions are not necessarily my employers. R+R-R=R+R Rules and Regs minus Relationships equals Resentment and Rebellion. John Maxwell
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#68710 - 03/20/03 09:42 PM
Re: Two Weeks Vacation Rules
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Joined: Jul 2001
Posts: 84,332
Galveston, TX
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If you do a search of threads on this you will find we have discussed this a number of times.
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#68712 - 03/20/03 10:04 PM
Re: Two Weeks Vacation Rules
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Anonymous
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And as usual, always check with your state code too.
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#68714 - 03/20/03 10:15 PM
Re: Two Weeks Vacation Rules
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Joined: Jul 2001
Posts: 84,332
Galveston, TX
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Looks like the exact same thing as you
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#68715 - 03/20/03 10:26 PM
Re: Two Weeks Vacation Rules
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Diamond Poster
Joined: Jul 2002
Posts: 1,678
United States
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As I understand this, it isn't a requirement, but it is recommended. As Andy said, it's a good way to detect fraud (since many fraud schemes need the perpetrator there constantly to keep it going). Some banks can't afford to have someone away for two weeks. I have had a consultant tell me that a good alternative is maybe one week of vacation with the second week spent in an unrelated part of the bank, or in training.
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#68716 - 03/20/03 10:32 PM
Re: Two Weeks Vacation Rules
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Gold Star
Joined: Oct 2002
Posts: 422
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I'm not in compliance so tell me if I wrong, but I thought the BBA required 1 week consecutive leave.
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Michelle M
Opinions do not necessarily reflect those of my employer nor are they legal advice
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#68717 - 03/21/03 02:07 PM
Re: Two Weeks Vacation Rules
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Joined: Jul 2001
Posts: 84,332
Galveston, TX
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BBA?
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#68718 - 03/21/03 02:58 PM
Re: Two Weeks Vacation Rules
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Platinum Poster
Joined: Jan 2003
Posts: 580
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Quote:
I hope one of you HR experts can tell me where to find the OCC, FDIC, and FRB rule that requires Bank employees to take two weeks vaction each year.
The FDIC "Letter" covering this issue is HERE and it refers back to the Internal Routine and Controls Section of the FDIC's Manual of Examination Policies.
In addition, D&O policies virtually always include a question as to whether or not the financial institution has a two weeks off policy. If you have that policy, exception approval should be documentation to the employee file.
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#68719 - 03/21/03 03:01 PM
Re: Two Weeks Vacation Rules
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Gold Star
Joined: Oct 2002
Posts: 422
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BBA = Bank Bribery Act
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Michelle M
Opinions do not necessarily reflect those of my employer nor are they legal advice
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#68720 - 03/21/03 08:03 PM
Re: Two Weeks Vacation Rules
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To my knowledge the BBA addresses a code of conduct, receipt of gifts, etc. but I am not aware of any required absence from working in a position. Do you have a cite?
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AndyZ CRCM My opinions are not necessarily my employers. R+R-R=R+R Rules and Regs minus Relationships equals Resentment and Rebellion. John Maxwell
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#68721 - 03/21/03 08:09 PM
Re: Two Weeks Vacation Rules
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Gold Star
Joined: Oct 2002
Posts: 422
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No, sorry I don't, as I said compliance isn't my area, I just thought had heard something about the vacation rule having to do with BBA.
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Michelle M
Opinions do not necessarily reflect those of my employer nor are they legal advice
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#68723 - 03/22/03 01:11 PM
Re: Two Weeks Vacation Rules
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10K Club
Joined: Oct 2000
Posts: 10,203
Toano, VA
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This week I was told that FDIC has reduced its vacation requirement from 2 weeks to 1 week, but I can't find anything newer than the 1995 FIL indicating the traditional 2 weeks. Has anyone else heard of this change?
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#68724 - 07/22/03 10:56 PM
Re: Two Weeks Vacation Rules
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Gold Star
Joined: Apr 2002
Posts: 424
Pacific NW
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I was asked about the two-week requirement again today. I have the 95 FIL, but also have "heard" the FDIC has relaxed their stance on this since then. Anyone know of anything more definative?
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#68725 - 07/23/03 02:52 AM
Re: Two Weeks Vacation Rules
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10K Club
Joined: Oct 2000
Posts: 10,203
Toano, VA
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I haven't heard anything else. Maybe one of you FDIC banks can contact FDIC and ask the question directly?
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...gone fishing.
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