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Branch Auditing Workpaper

Two Options - 1) Chris Kilian, Scott Valley Bank, developed an auditing tool to look at signage and briefly understand the compliance culture and skillset of the branch employees. He uses this as a tool for on-site compliance audits of branches and ATMs. The checklist helps verify that all the required disclosures are correct and prompts interviews of the employee's level of knowledge when it comes to APYs, APRs, the CRA Public File, customer complaints, and NOW account eligibility.

2) A second version from Andy Zavoina has been updated as of July 2021. It is a shorter audit tool provided in PDF form for use or just viewing, and in Word so you can customize it and remove items which don't apply, such as two Texas requirements.

These tools could also be used by sending it to the branches and allowing them to self-test themselves and verify that the signage is properly displayed. The telephone could be used to interview employees.

First published on 07/12/2021

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