"Safety Committee" for Mutual Savings Bank?

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Question:

Should a mutual savings bank have a "Safety Committee” or is it sufficient to have a Security Policy and a Security Officer?

Answer:

Every bank should have a "Risk Management Committee," sometimes the members are the same as those on the Contingency Planning Committee. I was a Security Officer for a mutual savings bank and can tell you a committee to assist the Security Officer can be a very valuable program. This committee can review problems that cross silos in the organization. We are now having frauds that hit several different departments at the same time a bank needs to have a coordinated approach to handling them.

First published on BankersOnline.com 4/11/11