If the officer on the account is unavailable, who can approve a CD withdrawal?

If the officer on the account is unavailable, who can approve a CD withdrawal?

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

Answer: (D)

When the person who holds primary authority on the account is unavailable, another qualified official must step in to approve a CD withdrawal so proper controls aren’t bypassed. A certificate of deposit is a restricted instrument, and approving a withdrawal from it requires careful verification and alignment with regulatory and internal policies. The BSA Officer is the appropriate backup here because this role concentrates on compliance, customer due diligence, and monitoring for suspicious activity. They can confirm the customer’s identity, ensure the withdrawal request is legitimate, review documentation, and verify that the transaction adheres to AML and other regulatory requirements. The teller can process transactions but does not have authority to approve such withdrawals; the customer cannot authorize their own withdrawal; while a branch manager might serve as a backup in some processes, this scenario specifically designates the BSA Officer as the approving authority to maintain proper risk controls.

When the person who holds primary authority on the account is unavailable, another qualified official must step in to approve a CD withdrawal so proper controls aren’t bypassed. A certificate of deposit is a restricted instrument, and approving a withdrawal from it requires careful verification and alignment with regulatory and internal policies. The BSA Officer is the appropriate backup here because this role concentrates on compliance, customer due diligence, and monitoring for suspicious activity. They can confirm the customer’s identity, ensure the withdrawal request is legitimate, review documentation, and verify that the transaction adheres to AML and other regulatory requirements. The teller can process transactions but does not have authority to approve such withdrawals; the customer cannot authorize their own withdrawal; while a branch manager might serve as a backup in some processes, this scenario specifically designates the BSA Officer as the approving authority to maintain proper risk controls.