One Or Two Paragraphs: Read The Following Case Scenario Luan
One Or Two Paragraphread The Following Case Scenarioluann Buell Works
Read the following case scenario: Luann Buell works as a teller for a local Credit Union. When she arrived at work on Thursday, the branch manager, Mike Stokey, asked her to get her cash drawer out early because the head teller, Jim Best, was conducting a surprise cash count for all the tellers. Luann’s drawer was $50 short and her reconciliation tape showed that she was in balance on Wednesday night. Jim asked Luann for an explanation and Luann immediately took $50 out of her wallet and handed it to him. Luann explained she needed the cash to buy prescriptions for her son and pay for groceries and intended to put the $50 back in her cash drawer on Friday, which is pay day. She also told Jim that this was the first time she had ever “borrowed” money from her cash drawer and that she would never do it again. Identify the ethical considerations of this case from both Luann’s (teller) and Jim’s (head teller) perspectives. What options does Jim have to address this problem? Assume Jim chooses to inform the branch manager, how should he approach the issue with his boss? Additionally, brainstorm at least four ideas to safeguard cash on hand at the credit union (petty cash, teller drawer cash, and vault cash) from employee theft and mismanagement.
Paper For Above instruction
The scenario involving Luann Buell, a teller at a local credit union, highlights critical ethical considerations related to honesty, employee integrity, and financial management. From Luann’s perspective, her decision to borrow $50 from her wallet to cover an immediate personal need—prescriptions and groceries—reflects a moment of moral dilemma driven by urgent circumstances. Her action, while seemingly minor and motivated by personal distress, compromises her role’s ethical standards. Moreover, her statement that she would reimburse the money by payday indicates a temporary lapse and a willingness to rectify her mistake. Nonetheless, her behavior raises concerns about her understanding of financial integrity in a banking environment where trustworthiness is essential.
From Jim’s perspective, as the head teller conducting the surprise cash count, the ethical considerations revolve around his duty to uphold accurate financial records and prevent employee theft or misappropriation. Jim faces a moral dilemma: whether to overlook the shortfall out of sympathy or personal connection or to enforce strict adherence to rules, which could threaten employee trust. His prompt questioning forces transparency but also places him in a position where he must determine whether the shortfall is due to honest mistake or intentional theft. Ethically, Jim must balance compassion with responsibility, ensuring that financial integrity is maintained without unjustly accusing or humiliating Luann if her shortfall is accidental.
Jim’s options for addressing this problem include discussing the issue directly with Luann to understand her circumstances and encourage honesty, documenting the incident for record-keeping, and advocating for managerial intervention if necessary. If Jim chooses to inform the branch manager, he should approach the conversation professionally and factually, emphasizing the importance of safeguarding assets and the need for a formal investigation. He should present the facts objectively, clarify that the shortfall is being addressed, and recommend measures to prevent future discrepancies. Transparency and a focus on policy enforcement are critical to maintaining trust and operational integrity within the credit union.
To safeguard cash on hand at the credit union, several proactive strategies can be implemented. First, implementing strict cash handling policies and regular, unannounced audits can deter theft and ensure accountability. Second, employing dual control procedures—requiring two employees to be present during cash counts or transactions—can reduce opportunities for misappropriation. Third, installing surveillance systems focused on tellers’ stations provides a visual record that discourages dishonest behavior and helps verify cash management practices. Fourth, using cash limit policies where tellers are allowed to hold only a specified maximum amount—after which cash must be deposited or secured—reduces the potential impact of theft or mismanagement. Together, these measures can help enhance financial security, foster a culture of integrity, and protect the credit union’s assets from employee theft and errors.
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