Recommendation Report

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Recommendation Report

Table of Content

Executive Summary3


Recommendation with a summary of its primary supporting reasons6

Detailed explanation of the reasons supporting your recommendation6

Primary counterarguments/alternatives to recommendation10



Executive Summary

This memo will determine the recommendations to increase teller pay in order to increase retention. The teller is the person most people associate with a bank. Tellers make up 28 percent of bank workers, and perform most of a bank's usual transactions. Among their responsibilities are cashing checks, accepting deposits and loan payments, and processing withdrawals. They may furthermore sell savings bonds, accept payment for customer's utility bills and charge cards, method necessary paperwork for certificates of deposit, and sell traveler's checks. Some tellers specialize in handling foreign currencies or commercial or business accounts.

Recommendation Report




SUBJECT: Recommendation to increase teller pay


The bank teller needs a great deal of attention to detail. Before cashing a check, a teller should verify the date, bank name, identification of the person to obtain payment, and legality of the document. They should furthermore confirm that in writing and numerical amounts agree and that the account has sufficient funds to cover the check. The teller then should mindfully enumerate money to avoid errors. Sometimes a clientele removes cash in the pattern of a cashier's check, which the teller prepares and verifies. When accepting a deposit, tellers should check the correctness of the deposit slip before processing the transaction. In this memo, I will illustrate recommendations to increase teller pay because they are playing a major role associate with a bank (Board of Governors of the Federal Reserve System, 2003).

Recommendation with a summary of its primary supporting reasons

Prior to starting their shift, tellers receive and enumerate an amount of working cash for their drawer. A supervisor, usually the head teller, verifies this amount. Tellers use this cash for payments throughout the day and are responsible for its safe and accurate handling. Before leaving, tellers count cash on hand, list the currency-received tickets on a balance sheet, confirm the accounts balance, and sort checks and deposit slips. Over the course of a workday, tellers may furthermore process numerous posted letters transactions. Some tellers replenish cash drawers and corroborate deposits and payments to automated teller machines (ATMs).

In most banks, head tellers are responsible for the teller line. In addition to the typical duties of a teller, a head teller's responsibilities encompass preparing work schedules, accessing the vault, double-checking the correct cash balance in the vault, and overseeing shipments of cash to and from the Federal Reserve (Board of Governors of the Federal Reserve System, 2003).

Detailed explanation of the reasons supporting your recommendation

Technology continues to play a large function in the job duties of all tellers. In most banks, for demonstration, bank tellers use computer terminals to record down payments and withdrawals. These terminals often give tellers quick access to detailed data on clientele accounts. Tellers can use this data to tailor services to fit a customer's needs or to recommend an appropriate bank product or ...
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