Internal Control Questionnaires and Verification Procedures

Personnel

1. Has the institution taken steps to ensure that screening procedures are applied to personnel hired for sensitive positions in the wire transfer area?

2. Does the institution prohibit new employees from working in sensitive areas of the wire transfer function?

3. Does supervisory staff pay special attention to new employees assigned to work in the wire transfer function?

4. Are temporary employees excluded from working in sensitive areas? If not, is the number of such employees limited?

5. Are statements of indebtedness required of employees in sensitive positions of the wire transfer function?

6. Are employees subject to unannounced rotation of responsibilities, regardless of the size of the institution?

7. Are relatives of employees in the wire transfer function precluded from working in the same institution’s bookkeeping or data processing departments?

8. Does the institution’s policy require that employees take a minimum number of consecutive days as part of their annual vacation?

9. Is the institution’s vacation policy being enforced?

10. Does management reassign employees who have given notice of resignation or been given termination notices from sensitive areas of the wire transfer function?

11. Is a training program used to alert personnel to the current trends in wire transfer activities and to the necessity of adequate internal control?

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