Teller Training Requirements

In a session at the ABA Compliance Conference dealing with compliance training, Jeanie Jorgensen from BancTraining Video Systems, Inc. made the point that an employee must be equipped with the skills to apply the knowledge of compliance requirements to everyday duties. It isn't enough just to know the rules.

She illustrated by relating the story about a compliance officer who was approached by a loan officer. A customer wanted to buy the house next door to his, which was a crack house.

"Redlining" and "discrimination" didn't sink in with the loan officer who said to the compliance officer, "We really don't want to make a loan in that neighborhood!"

Jeanie went on to list the areas that should possibly be included in a teller's compliance training plan.

They consist of:
Expedited Funds Availability-Purpose, schedule, holds, exceptions,
Fair Credit Billing,
Electronic Funds Transfer-Purpose & procedures
Dormant and Inactive Accounts-Handling transactions,
Community Reinvestment Act-Purpose, statements, handling CRA inquiries,
Right to Financial Privacy-Purpose, information that is/is not protected, handling requests for information,
Legal Service (Summons, etc.)-Handling information release or action,
Bank Secrecy Act-Purpose, completing CTR, exemptions, logging, suspicious transactions, explaining to customers, structuring,
IRS Code and Regulations (i.e. TINs)-Purpose of tax forms, recording TINs, penalties, and
Transaction limits on certain accounts
Lobby signs and notices.

Copyright © 1991 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 2, No. 6, 7/91