Friday, June 21, 2019
12:00 – 1:30 pm (Eastern Time)
11:00 – 12:30 pm (Central Time)
10:00 – 11:30 am (Mountain Time)
9:00 – 10:30 am (Pacific Time)
BACKGROUND: This compliance webinar is the first in a series of an exclusive BankersHub training series on the critical, but poorly understood, Safe Deposit function in the branch. Unfortunately, the safe deposit operations of a bank or credit union often are not given serious consideration from a control and risk prevention point of view. This Safe Deposit series will provide a solid foundation not only to new employees responsible for conducting, managing or auditing this high risk area, but will be critical refresher training for all employees involved directly or indirectly with Safe Deposit.
This initial training session covers the overall picture of a bank’s safe deposit rental business. It provides a brief history of the business.
This operations training course discusses the following two (2) views of the bank-customer safe deposit relationship:
- bailor-bailee relationship
- lessor-lessee relationship
The training also focuses on what bank due diligence must be exercised to address an allegation of loss by a safe deposit renter. Additionally serious attention is paid to what constitutes a claim of “negligence” against the bank.
Finally, this compliance webinar covers specific responsibilities a bank must demonstrate to defend against an allegation of wrong-doing in the safe deposit box area, while reviewing the ever-changing and current state of the safe deposit box business.
Paul J. Sanchez, CPA, CBA, CFSA conducts a CPA practice in Port Washington, New York. He is also the owner of Professional Service Associates (PSA), a consulting and professional training and development business servicing corporate clients (auditors, controllers, etc.), CPA firms, professional associations and others. He was an assistant professor at Long Island University – C.W. Post Campus as well as an adjunct lecturer at City University of New York. Prior to starting PSA, he was the Vice President-Professional Development for the Audit Division of a regional bank and Director of Professional Practices and Vice President of a money-center bank, where he directed the professional practice development and training for internal auditors.