Properly Audit Your Safe Deposit Department: 30 Important Steps (2016 Update)

Improve Your System: Management should take full advantage of an effective safe deposit audit program to protect against losses due to negligence or carelessness. The mysterious disappearance of property from either internal theft or burglary must be avoided. Put procedures in place to be certain your attendant uses utmost diligence in making sure there are no exceptions or deviations.

For auditors to properly perform this task, they must be thoroughly familiar with all aspects of your safe deposit operation. This seminar covers the “nuts and bolts” and important steps to follow to audit your entire safe deposit function.

David McGuinn, a nationally known expert in the area of safe deposit, has audited numerous financial institutions, and will provide clear concise answers to complicated questions regarding your institution’s responsibility and potential liability. He'll also identify and discuss various audit issues.

What You Will Learn:

Get answers to the following questions and establish internal procedures to comply with proper safe deposit requirements.
  • What are the 30 most important audit questions that must be answered "YES"?
  • Have you measured all the boxes to make sure the correct rent is being charged?
  • Why should you perform a complete key audit to determine if you have all keys?
  • Do you know that all renter signatures match the names typed on the contracts?
  • Why is a vault survey of all box numbers and sizes important during this audit?
  • Do you have current resolution forms for all your rented business boxes?
  • Are all the blanks on the contract filled in properly with no white outs?
  • Have you reviewed access records for the time, date and proper initials?
  • Why must all keys found be listed as Available or Service Required?
  • Are all renter signatures authorized to enter the safe deposit box?
  • If “MYSTERY BOXES” are identified, how should they be handled?
  • Why should you record all past due, free and discounted boxes?
  • What 5 types of Management Reports must be prepared?

Who Should Attend?

Internal auditors, vault supervisors, and safe deposit attendants