Do all differences get recorded on the daily branch cash?
Yes
At which cash difference amount would you require a Horizon override?
All cash differences of $0.01 or more require an override within Horizon.
At which cash difference amount will you require to file a “Report Teller Difference”?
Differences of $ 25.00 or more require a “Report of Teller Difference.” You MUST sent this report to Retail Administration.
A Report of Teller Difference must be sent to ______.
Retail administration
All Branch cash (Tellers & Vaults) must be ‘piece’ counted/audited if the difference exceeds ______.
$99.99
when is a teller presumed to be working below acceptable standards?
Teller has 3 or more differences during the calendar month
Teller has more than one difference exceeding $100.00 or more in a calendar month with repeat occurrences during the prior 3-month period.
what kind of plan is a teller who is working below acceptable standards placed on?
Performance Improvement Plan (PIP)
Who decides if a teller must be placed on a PIP?
Branch Managers in consultation with the Regional Retail Administrator
How long can a PIP last?
30, 60, or 90 days.
Who must sign off a teller PIP.
SVP/Chief Retail Officer or EVP/Chief Banking Officer.
What are some extra things a teller with a PIP must do
Follow specific retraining responsibilities and document the additional training.
What happens when a teller with a PIP has not made enough improvement to go back to “acceptable Standards after their review period?
IF the performance issues still exist, the Chief Retail Officer or Executive may elect to extend the Performance Improvement period, or take steps to invoke other disciplinary action, which can include termination.
What are some best practices for locating a cash difference?
Determine whether the correct opening cash was used. If a difference was put through, check to see that it was correctly calculated, processed and posted.
Check to see that the Cash-Ins and Cash-Outs were input into the system correctly.
Recount cash and coins.
Check all of the money that was strapped or rolled during the day.
Verify that cash-out and
cash-in figures are accurate.
Be sure “bait money” and mutilated money were included in the totals
Have another branch employee re-count the money in the presence of the teller.
Check for transposition of figures. (e.g.: 74 instead of 47).
