We have a policy stating that we cannot attempt to collect on an account when the member has filed bankruptcy. (It is also stated in 11 U.S. Code 362.) Sending a statement can be interpreted as trying to collect, so therefore, a hold should be placed on the member's mail. Do you make exceptions, for example if the person is reaffirming debt, paying outside of the plan, or when a debtor requests the mail to be sent? If so, how is your exception documented?Thanks!
Does anyone have any input into how many numbers should be required for a teller cash vault combination? I have been in banking for over seventeen years and have always seen a minimum of three numbers used for vaults (ex. teller cash vaults, manager's vaults, etc. all inside the main vault). For some odd reason my Security Officer wants to set up one of our new branches teller cash vaults with only two numbers (he originally was going to do only one number when I adamantly objected).
Internal Audit program is very new. Audit Guide references several types of worksheets for Collections audit. Are there any special worksheets available that anyone has found to be helpful in analysis of collection efforts.
Does anyone have an Online Deposit Account Opening audit program they are willing to share? If you do please email me at [email protected]. Thanks!
I'm looking for feedback from institutions that are above 750 Mil in assets. We are looking into hiring an internal auditor and I'm curious as to how various CUs have established their reporting structure. I'm looking at the following structure: Risk Manager reports to CEO (adminstratively) and Audit Committee (functionally); Internal Auditor reporting to Risk Manager.
Does your credit union require proof that the person opening this type of account has actually been approved by the Social Security Administration to manage the funds for the beneficiary?
I am looking for any examples of an Employee Screening Policy. More specifically, one that may address the decisioning process for "questionable" information that may appear on either a potential employee or the screening done to register an MLO. I realize that financial crimes are obvious red flags, however there is a huge gray area when it comes to past offenses that may appear, such as lewd behavior, etc. that may have occured in that persons very distant past.
I'm wondering if anyone has a Privacy Policy that they'd be willing to share. We have of course updated our annual privacy notice as required but upon review of our policy, we noticed that it generally follows the old format. Does anyone have an updated policy they'd be willing to share so we don't have start from scratch? Feel free to e-mail the policy to me directly at [email protected]. Thank you in advance for any help you can provide.
I was just asked by my Supervisory Committee about my Auto Lending Audit Report. Their question was “Do all financial institutions loan to 100% of NADA used car value on all used auto loans?” Internal Audits position (me) is that we should fund at a lower value unless the vehicle is a certified used auto to earn a 100% rate. I would be interested in hearing from other credit unions. Thank you
Does anyone using Symitar/Epysis use the masking privileges? If so, how do they work? We have staff privileges set to N for View or FM Masked Records. However View Masked Card Numbers, View Masked ID Numbers, and View Masked SSN/TIN are set to Y. There appears to also be a related setting in Parameters. We don't have a good understanding of these privileges. Any assistance would be appreciated. Thanks,Sherry Wenger, Interra Credit Union, [email protected]
