The safe deposit operation is a unique, fast-changing service in the financial services industry. It is the only product or service in which members of your staff do not know the value of a consumer's assets. As a result, every customer safe deposit vault visit can lead to considerable liability. Effective procedures and sound daily practices can counteract and minimize this risk. This seminar covers the "nuts and bolts" of safe deposit operations and the key procedures that can help your institution eliminate some risks and control others.
Dave McGuinn, a nationally recognized expert in the safe deposit area, will provide clear, concise answers to both basic and complex questions about your institution's responsibility, liability and daily safe deposit operating procedures. He will also provide information about many current lawsuits and other nationwide horror stories that serve as object lessons on "what not to do" in your safe deposit operation.
Test your safe deposit operation
Answer each of these questions YES, NO or NOT SURE:
_____ Can box keys be duplicated using silly putty and epoxy glue?
_____ Will your part-time attendant make a good courtroom witness?
_____ Do you follow the ten necessary steps when granting box access?
_____ Do you have at least ten items included in your new box renter's kit?
_____ Can FDIC/NCUA signs, logos or brochures create safe deposit liability?
_____ Can you purchase locksmith tools on eBay that can open boxes in seconds?
_____ Are you providing a "No Insurance Disclosure Notice" to all new box renters?
_____ Do you require five types of identification from every signer on a new box contract?
_____ Are you aware of your liability if box access is allowed outside regular lobby hours?
_____ Do you know why you will lose a lawsuit if you are leaving anyone in your vault alone?
How did you do on the test? (You'll find out during the presentation)
Who Should Attend:
This informative program will benefit safe deposit supervisors, full time or relief vault attendants, any other employee who works in the safe deposit area, and auditors.