Answer:
The banks security program requirements are brief in that they require only a few things. First and foremost it should be board approved, meaning this is an informed decision. Otherwise (and this is from the OCC requirements, others are similar):
The security program shall:
(1) Establish procedures for opening and closing for business and for the safekeeping of all currency, negotiable securities, and similar valuables at all times;
(2) Establish procedures that will assist in identifying persons committing crimes against the institution and that will preserve evidence that may aid in their identification or conviction; such procedures may include, but are not limited to:
(i) Using identification devices, such as prerecorded serial-numbered bills, or chemical and electronic devices;
(ii) Maintaining a camera that records activity in the banking office; and
(iii) Retaining a record of any robbery, burglary or larceny committed or attempted against a banking office;
(3) Provide for initial and periodic training of employees in their responsibilities under the security program and in proper employee conduct during and after a robbery; and
(4) Provide for selecting, testing, operating and maintaining appropriate security devices, as specified in paragraph (b) of this section.
(b) Security devices. Each national bank shall have, at a minimum, the following security devices:
(1) A means of protecting cash or other liquid assets, such as a vault, safe, or other secure space;
(2) A lighting system for illuminating during the hours of darkness, the area around the vault, if the vault is visible from outside the banking office;
(3) Tamper-resistant locks on exterior doors and exterior windows designed to be opened;
(4) An alarm system or other appropriate device for promptly notifying the nearest responsible law enforcement officers of an attempted or perpetrated robbery, burglary or larceny; and
(5) Such other devices as the security officer determines to be appropriate, taking into consideration:
(i) The incidence of crimes against financial institutions in the area;
(ii) The amount of currency or other valuables exposed to robbery, burglary, or larceny;
(iii) The distance of the banking office from the nearest responsible law enforcement officers and the time required for such law enforcement officers ordinarily to arrive at the banking office;
(iv) The cost of the security devices;
(v) Other security measures in effect at the banking office; and
(vi) The physical characteristics of the banking office structure and its surroundings.
So you can see there are few requirements and many broad suggestions. Leaving one person in a branch is a security and audit (dual control) issue that should be reevaluated, in my opinion. The board and senior management should determine if this is really acceptable in their security program and that this is not a knee-jerk reaction to a personnel shortage.
First published on BankersOnline.com 3/7/05
print
share