Conducting an ACH Risk Assessment and Developing an Effective Risk Management Program
Donna K Olheiser Overview:
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.
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)
Areas Covered in the Session:
- 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 "nested" TPS - NEW in 2022)
Who Will Benefit:
- 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
Speaker Profile
Donna K Olheiser founded Dynamic Mastership, LLC in December 2014 to utilize her 24+ years’ experience in the financial services industry, by sharing her passion for training financial institutions and organizations on the Rules and processes for electronic payments (with her specialty being ACH payments). She holds the Accredited ACH Professional (AAP) designation (achieved in 2004).
Donna’s experience before founding Dynamic Mastership, includes 9 years’ serving 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, Donna spent 14 years with the Federal Reserve Bank of Minneapolis in various departments, where she started her training career as the Training and Development Specialist in 2003.
Donna is a certified Master Trainer who continually uses her extensive knowledge, experience, enthusiasm, and passion for transferring payment processing details, while using the adult learning theory is remarkable! Her training style has helped many payment professionals remain consistently informed of the NEW and ever-changing NACHA Operating Rules and explaining how the Rules apply when performing daily operational tasks including complex return and exception processing. She incorporates scenarios and examples in her detailed training, so the Rules are easy to comprehend and apply to real-life day-to-day ACH processing. Donna’s ability to engage the learner through the entire training event helps the adult learner apply what they have learned during and after each training session.