It is acceptable for a pastor to be a designator at the bank handling finances if he is qualified. However, there needs to be other parties that are there to verify and to answer to him. Any qualified person can handle the unit.
If a church's finances are being managed with honesty, integrity, good stewardship, and transparency, then, ultimately, it does not matter who is doing the financial oversight. A committee can misuse finances just as surely as an individual can. A church should be extremely careful regarding the person or persons to whom it gives control of the finances. The qualifications of "not a lover of money" and "manages his own household well" (1 Timothy 3:3-5) should definitely apply. Whoever the person or persons are, accountability is crucial. The manner in which a church manages its finances should be completely transparent. A church should always be ready to demonstrate that the funds God has provided are being stewarded wisely. Financial scandals have destroyed or damaged countless churches. And, in most of those cases, there has been a lack of accountability and transparency. Read more: http://www.gotquestions.org/church-finances.html#ixzz2PbpHrYvJ