Vaults Management & Currency Operational Management
provides all the functionality needed by a central bank or monetary authority to manage the flow of currency into and out of circulation. It tracks the entire vault management of out-of-circulation notes and coins, tracks all counting and sorting and provides full verification and complete audit trails of all activity entered in the system.Maintaining an optimal balance of cash reserves in central cash offices is one of the most important tasks of cash circulation management in a commercial bank. Ensuring the operation of the cash centers includes a whole set of organizational processes, which are easier to implement and control in a specialized IT environment.
Course Objectives
- Tracks all steps of currency taken out of or put into circulation, currency deposits and withdrawals by commercial banks through dual (or more)-control verification and full audit tracking
- Tracks results of counting machine processing, including the valid currency, currency fit for reissue, the value of unfit currency to be destroyed, counterfeits, and mis-categorized currency
- Tracks the full process of removing specific sets of currency through the vault to the counting room
- Tracks the details of treasury meetings for transfer of currency to and from armored vehicles
- Tracks all activity that occurs inside the vault, including new orders of currency from minters/printers, any movement of currency in the vault and shipments of foreign currency
- Handles all numismatic operations, including saving the full inventory of collectable items, and the request, transfer or sale of those items
- Provides a full audit trail, including the user, computer, and time-stamp of each activity
- Interfaces with payment processing systems, such as RTGS, and counting machines
- allows commercial banks to schedule deposits or withdrawals, including denomination breakdowns