Check cashing error cost me my job… :-(
I cashed a $500 an out of state check for what the bank refers to as a “non-relationship customer” with only one form of ID. The check was actually stolen so the bank had to replace the funds because I failed to comply to the 2 ID policy for non-bank customers. I only get a up to $200 cash discrepancy allowance while on 90 day probation. Well, there goes my banking career!! So, what can I do to get another job with this incident on my record? Is there any hope to find a career job again?
Regan,
I am so sorry to know that you loss your job for what seems to have been a simple mistake on your part. On the bright side, I don't think your banking career has gone totally down the tubes! I have come to find out during my career journey that someone else is always willing to give another chance. So, yes there is "HOPE" (Having Only Positive Expectations) in securing employment elsewhere. Please pick yourself up, dust off, and keep seeking and knocking at doors until one opens!-:)
The samething happened to me as well.I even got approval from.the bank officer and i still lost my job.The customer was one of our cutomers and she wrote a check to her husband out of her credit uniin.account.i didnt cash the check but held it in their account.Not knowing the teller on the front line had already taken two checks from them akready.by the end of the day the front teller allowed the customer to withdraw ovet 3000.00 dollars from the checks they had deposited.although i told them it was not my fault i still lost my job!!what can be done about this.???
Two things--First, banking is an industry, careers are how we use our time to income. Our careers should define what we do after work--not for work. Second, the bank may have done a poor job explaining...cashing the check outside of policy creates an anti-money laundering control gap that has potential to violate the US Patriot Act. Such gaps can bring LARGE fines from both state and federal regulators. I am sure your intention was good, but the training did not fully prepare you for the outcome. Don't dwell on yesterday too long. Use this opportunity to learn, train and enforce future cash-transaction policies (HINT: Interview response). Reference: http://www.consumerfinance.gov/policy-compliance/guidance/supervision-examinations/
Don't worry about it. Your career is not over - learn from your mistake. Also be more careful and work collaboratively with your supervisor. I have caught worst mistakes made by employees during the audit and they still survived and continued to hold their jobs. It depends on your relationship with your supervisor. In this case, this employee lost $68K for holding on to a refund check for more than 6 months. The check was never deposited into the bank upon receipt. Why? The employee wanted to figure out the reversal accounting entry before deposit. It was forgotten. (left in the drawer over 6 months and the check became stale). The employee is a supervisor.