I would like to be able to provide our branches with sample occupations for Item 13 of the Currency Transaction Report. Does anyone have any suggestions?

On a side note to this, when someone asks what you do, and you say "I'm a Compliance Officer", what do you say when the person then asks "What's that?"

I have never had somone not ask "What's that"? The answer I give is usually followed by an "Oh", but never a "really! how can I get into that type of work?!"

Well, Mark, I don't think they even put Compliance Officer on those high school career path forms in the guidance counselor's office. Regarding the question at hand, the occupation should generally describe the service or product that the subject provides/manufacturers/sells. I'm not sayign it shoudl get into minutia, as 'Senior Vice President of Writing Vision Statements' doesn't fit on the form, but it can't be general, such as 'Retail' 'Auto' 'Retired' or 'Owner.' (Yes, I have encountered all of those vague occupations on CTRs.)

Agreed, it should be something with some specificity such as, "medical doctor", "banker", "mobile home salesperson", "accountant", etc. "Sales" is also one of those non-specific occupations that I really find interesting when I see it on a CTR. What exactly are they selling?

And I would not accept "owner" as an occupation or line of business. Everyone owns something! Personally, I question the value of the field to law enforcement, but they tell me they use it to help form their profiles when doing their reviews of CTR and SAR filings.

This is my standard response: You know banks have a lot of government rules they have to follow to protect consumers, right? Well, I'm the guy that makes sure everyone in the bank knows about the rules, understands the rules, and follows the rules.

In 1995 when significant revisions were made to the CTR form, a video was recorded that explained how to complete the "new" CTR. This is information that was taken directly from the video:

In item 13, the occupation that you list for an individual or the business you list for an organization on whose behalf the transaction is being conducted must be specific. For example, the term sales manager is too general. Item 13 must include the specific type of business for which the individual is sales manager, such as: sales manager new car sales. Examples of acceptable types of occupations are: attorney, carpenter, housewife, liquor store, restaurant, retired, secretary, shoe salesman, and unemployed. Examples of unacceptable types of occupations are: business person, clerk, consultant, merchant, retail store, sales representative, and self-employed.

The institution that I worked for at the time incorporated into their identification policy that Item 13 would be identified as accurately as possible( a continuation of the "old" ID requirements) such as retired carpenter, legal secretary, and unemployed cab driver.

My favorite occupation of all time was "Retired Housewife".

Just for chuckles...

"Liquor store" as an occupation. I picture a bootlegger in a semi truck...

My personal favorite is "speciality items sales". Told the branch that that wasn't good enough - he was the owner of an adult "toys" shop. They didn't know how to phrase it.

My favorite is 'self-employed'. I always send it back with a note - "Self-employed what? Drug Dealer? Money Launderer? Tax Evader?"

If I can't use "sales", "sales manager", "servicing supervisor", or descriptions like that, how would I rephrase "pimp"?

Short term dating service?

How about 'social coordinator'?

Richard: How about: Physical Relations Broker?

Good Lord, it must be Friday afternoon again! I have five people peeping in my door wondering what the hell I'm howling in laughter about! I told them it was "Compliance with CTR rules," and they all ran for cover! I expect the straight-jacket in about 10 minutes.

I guess 'normal' people just don't understand how compliance can possibly be funny....

Sorry John, it's only Thursday. I know that because I don't have on my Friday "Business Casual" attire.

And gee Richard, have you already figured out how to describe the person who works FOR the "Physical Relations Broker?" I'd really like to know!

That brings to mind a story of when I worked "in retail" (okay - sales clerk in a department store!) way back in the day. Two gals came in and approached the cosmetics counter. They each purchased about $200 worth of lipstick, mascara, eye liner, and other skin care products. They were dressed in VERY tight, VERY short skirts, low-cut tops, and 4" spike heels. They paid cash, and told the sales girl they needed this stuff for "work."

Too bad department stores don't have to file an SAR. Or, do they now?

Physical Relations Provider.

It's also extremely funny to me when a loan officer suddenly finds himself in the position of having to train others in compliance. Watching them squirm and try to keep people awake is good for a Compliance Officer's soul!

I once worked in an office in which the woman who was in charge of photocopying, making labels etc. had the job title of Reproduction Equipment Operator. Her supervisor was not a Physical Relations Broker, however.

In reply to:

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I once worked in an office in which the woman who was in charge of photocopying, making labels etc. had the job title of Reproduction Equipment Operator. Her supervisor was not a Physical Relations Broker, however.

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Was the supervisor, by any chance, the Reproduction Equipment Dispenser?

Oh - my apologies to Dolly since this thread has gone WAY off-course, but I think there are SIC codes for individual occupations that give detailed job titles. Perhaps you can look them up in an SIC manual?

The fun never ends! I just received a CTR with the following occupation listed: Never Employed

Hey, I need a job like that! I'm assuming the pay is pretty good (as in independently wealthy)?

Well - there IS my dream job.....LOTTERY WINNER!!!!!!