If the officer on the CD withdrawal is not present, who may approve?

If the officer on the CD withdrawal is not present, who may approve?

• A. The Branch Manager
• B. The BSA Officer
• C. The Teller
• D. The Customer

Answer: (B)

When a withdrawal on a certificate of deposit requires approval, there are controls in place to keep the process compliant and verified. If the officer responsible for approving the CD withdrawal isn’t available, the designated compliance-focused authority steps in to ensure the transaction still meets policy and regulator requirements. The BSA Officer is the person who can authorize in this absence because their role is to oversee BSA/AML compliance and ensure proper review, documentation, and risk controls are applied to such transactions. This maintains proper oversight even when the usual approving officer is unavailable. Tellers aren’t authorized to approve withdrawals, and customers can’t approve their own transactions. The Branch Manager typically handles day-to-day approvals, but in this setup the policy specifies that the BSA Officer may approve when the responsible officer isn’t present.

When a withdrawal on a certificate of deposit requires approval, there are controls in place to keep the process compliant and verified. If the officer responsible for approving the CD withdrawal isn’t available, the designated compliance-focused authority steps in to ensure the transaction still meets policy and regulator requirements. The BSA Officer is the person who can authorize in this absence because their role is to oversee BSA/AML compliance and ensure proper review, documentation, and risk controls are applied to such transactions. This maintains proper oversight even when the usual approving officer is unavailable.

Tellers aren’t authorized to approve withdrawals, and customers can’t approve their own transactions. The Branch Manager typically handles day-to-day approvals, but in this setup the policy specifies that the BSA Officer may approve when the responsible officer isn’t present.