A president who takes an active part in the inside work of his bank is in charge of everything as long as he retains the confidence of his board. He dele gates the routine to subordinates and busies himself with questions affecting the general policy, the getting of new business, large matters of internal organiza tion, the making of important loans and investments, etc.
4. Vice presidents.—Next in rank to the president is the vice president, or vice presidents, if there are more than one. In a small bank, the vice president usually has little to do except when he is called upon to act for the president. Even in large banks, vice presidents are often elected from among the large stockholders and given little to do in running the bank. Some of the vice presidents in a large bank, however, are likely to have important duties on the inside. They act as heads for various departments or they may represent the bank away from home. They may be chosen for business-getting ability. This is especially true in the large city banks which seek deposits from other banks all over the country. A well known and popular banker from the South west may be taken to New York or Chicago as vice president for the sole purpose of pulling business from his acquaintances. For this reason, it is often said that the shortest road to an important position in a big city bank is thru country banking experience.
5. a small institution, the cashier is often practically the whole bank. He makes the loans, receives the deposits, pays out cash, keeps the books, sometimes even sweeps the floor. He usu ally holds some stock and is often the dominating member of the board. In large banks, the cashier is not so important relatively, for he usually has an active president over him, and there may be a large number of active vice presidents. Even here, how ever, his work is heavy. He keeps the minutes of board meetings, makes reports of various kinds, keeps the record of stock transfers, sees that the re serve is kept up to the required standard, signs checks, approves expense items and employs the clerical staff. In general, he is the executive officer.
Where assistant cashiers are employed, much of the cashier's work is divided among them. One may be given direct supervision of the loan department, an other of the transit department, another of the book keeping work. The cashier and his assistants answer
all questions regarding the practical work of the bank, and give official sanction to all unusual transactions arising in the daily routine.
6. Chief important men whom the customers of a bank rarely meet are the chief clerk and the auditor. The chief clerk is responsible to the cashier for the successful management of the clerical staff. He shifts the clerks from one department to another, as occasion requires, consulting the cashier before making any important changes. He sees that each department has enough men to finish the work within reasonable hours and that the men are kept busy. He employs all clerks and sees that the mes sengers serve each department efficiently, that the proper amount of stationery is purchased and ac counted for, and in general, he relieves the cashier of all duties in connection with the clerical staff and the routine work of the bank.
7. office of auditor is becoming in creasingly important. The work is of much more value in a trust company than in a bank, or perhaps it would be more correct to say that it is better appre ciated in a trust company than in a bank. The com plicated work connected with the various departments of the trust companies has compelled them to create this office. The auditor must be well versed in ac counting procedure and he should be in complete control of the accounting methods, with power to add, change or substitute such books, forms or memo randa records as he considers necessary to make the affairs of the institution clear to the officers and di rectors. He prepares all statements required by the officers and directors, and certifies to their correct ness. He makes frequent audits of all the depart ments, and performs such other duties as come within the scope of his office.
The functions of the bank's own auditor should not be confused with those of the outside auditor. The latter is usually a certified public accountant or a firm of public accountants, chosen by the board of directors to check up the books of the bank periodically to see that all is well and as represented. This audit is made primarily for the sake of stockholders and clients of the bank.