Conducting the ACH Risk Assessment and Developing an Effective Risk Management Program
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Speaker : DONNA K OLHEISER
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When : Friday, December 13, 2024
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Time : 01 : 00 PM EST
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Donna K Olheiser, AAP, is the vice president of Education Services and founder of Dynamic Mastership, LLC.; and holds the Accredited ACH Professional (AAP) designation (achieved in 2004). She is an enthusiastic and energetic Certified Master Trainer with over 14 years’ training experience. She has designed and facilitated over 100 training sessions each year with her expertise being the rules for companies and financial institutions when processing electronic (specifically ACH) payments, then scheduling the events to facilitate and deliver the material through a variety of venues (webinars, teleseminars, in-person workshops, including regional and national conferences).
Her extensive knowledge, enthusiasm and passion for transferring payment processing knowledge using the adult learning theory is remarkable and has helped many payment professionals perform daily operational tasks including exception processing while remaining compliant with the NACHA Operating Rules. She uses scenarios and examples to bring the learning home, easy to comprehend and apply to real-life day-to-day ACH processing. Ms. Olheiser’s ability to engage the learner through the entire training event helps the adult learner apply what they’ve learned during and after each training session.
Donna has over 24 years of experience in the financial services industry which includes 9 years’ experience as the education service director at a Regional Payments Association (RPA), where she managed and facilitated the entire education program for nearly 800 financial institution members. Prior to that, Ms. Olheiser spent 14 years in various departments with the Federal Reserve Bank of Minneapolis, including the internal educator for FedACH Central Operations.
This webinar will identify the areas of ACH Risk that ODFI's and RDFI's are exposed to when originating, receiving, or processing ACH transactions. ACH Risk awareness and responsibility still falls on the ODFI even when outsourcing these activities to a third party. Discussion on ODFI Risk Management Requirements from the NACHA Operating Rules Book (Articles 1 and 2) such as due diligence, exposure limits, auditing, and monitoring (to name a few), plus how the SEC Code being used by the Originator or TPSP or TPS determines specific risk management requirements and warranties.
Included will be the details for the TPS and “nested” TPS conducting their ACH Risk Assessment due to the recent update to the NACHA Operating Rules with “Third-Party Sender (TPS) Roles and Responsibilities”, effective Sept 2022.
Areas Covered
- Discover how the ACH Network functions (overview of ACH, how it works, with SDA (Same Day ACH functionality included))
- Research and determine TPS (or nested TPS) existence and how to assess their ACH risk
- Identify the Nacha Operating Rules to utilize when conducting an ACH Risk Assessment
- Define different types of ACH Risk and mitigation tips
- List what’s needed for development of a successful ACH Risk Management Program
- Discussion on monitoring the entire ACH program on a consistent basis
- Importance of Reporting details surrounding your ACH Program to the Board
- Summarize details of New NACHA Operating Rules amendment for ACH Risk Assessments and the TPS (including the “nested” TPS – NEW in 2022)
Who Should Attend
- Third-Party Senders and Processors
- Originating Companies
- Banking Operations Managers and Staff
- Compliance and Risk Professionals
- Treasury Management Professionals
- Aspiring and Current AAPs (Accredited ACH Professionals)
- Banking Managers/ Supervisors
- Audit and Compliance Personnel / Risk Managers
Why Should You Attend
Details on the NACHA Operating Rules for conducting an ACH Risk Assessment and developing an effective Risk Management Program for the participants in the Network who are required to perform this task. The trainer will outline the key components of an effective ACH Risk management Program. Other topics include ACH Policies and the importance of them and reporting to the Board regarding your ACH program. In addition, the details for the New NACHA Rule Amendment on “TPS – Roles & Responsibilities” – effective Sept 2022 (which identifies the TPS and nested TPS to conduct a Risk Assessment)
Topic Background
As a Financial Institution (ODFI & RDFI), a Third-Party Service Provider (TPSP) or a Third-Party Sender (TPS) – including “nested” TPS (due to a recent Rules Amendment in 2022), processing ACH transactions, you can encounter a variety of risks. Risk DOES exist in the ACH Payment System, as it does in all payment systems. The major risks that need to be examined are Operational, Credit, Compliance, Fraud, Return, and Reputational Risk. According to the Nacha Operating Rules, financial institutions are required to assess and manage all ACH risks, which includes developing a Risk Management program. Most ACH risks can be mitigated through proper due diligence for all originating customers (KYC) and strict adherence to ACH origination and credit policies, which includes monitoring ACH activity.
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$160.00
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