Bank officer
Encyclopedia
A bank officer is an employee of a bank
endowed with the legal capacity to agree to and sign documents on behalf of the institution. The title
is usually held by branch managers, assistant managers, loan officers, and other experienced personnel. Executives and others holding titles such as "Vice President" are considered officers of the bank for legal purposes.
The title is also used to designate those branch personnel who act in a supervisory capacity. In larger banks, an officer at the branch level sometimes reviews accounts and makes decisions on whether to honour NSF
items or to return them. Such decisions are usually left up to those who are legally responsible to act on behalf of the bank.
Bank
A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
endowed with the legal capacity to agree to and sign documents on behalf of the institution. The title
Title
A title is a prefix or suffix added to someone's name to signify either veneration, an official position or a professional or academic qualification. In some languages, titles may even be inserted between a first and last name...
is usually held by branch managers, assistant managers, loan officers, and other experienced personnel. Executives and others holding titles such as "Vice President" are considered officers of the bank for legal purposes.
The title is also used to designate those branch personnel who act in a supervisory capacity. In larger banks, an officer at the branch level sometimes reviews accounts and makes decisions on whether to honour NSF
Non-sufficient funds
Non-sufficient funds is a term used in the banking industry to indicate that a demand for payment cannot be honored because insufficient funds are available in the account on which the instrument was drawn. In simplified terms, a cheque has been presented for clearance, but the amount written on...
items or to return them. Such decisions are usually left up to those who are legally responsible to act on behalf of the bank.
See also
- BankBankA bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
- Executive officerExecutive officerAn executive officer is generally a person responsible for running an organization, although the exact nature of the role varies depending on the organization.-Administrative law:...
- Chief Financial OfficerChief financial officerThe chief financial officer or Chief financial and operating officer is a corporate officer primarily responsible for managing the financial risks of the corporation. This officer is also responsible for financial planning and record-keeping, as well as financial reporting to higher management...