As financial institutions and third-party providers navigate the complexities of ACH transactions, they face a variety of risks including Operational, Credit, Compliance, Fraud, Return, and Reputational risks. The Nacha Operating Rules require ODFIs and RDFIs to assess and manage these risks diligently, even when outsourcing to third parties. Many organizations struggle with identifying these risks and developing an effective Risk Management Program to mitigate them.
This comprehensive webinar will equip participants with the knowledge and tools to identify the different types of ACH risk and the responsibilities of ODFIs, RDFIs, TPSPs, and TPSs. Attendees will learn how to create a robust ACH Risk Management Program that complies with the latest Nacha Operating Rules, ensuring that all parties understand their obligations and can effectively manage risk.
Webinar Objectives
This session aims to address the key pain points related to ACH risk management, providing actionable solutions and strategies for organizations involved in ACH transactions. Participants will leave with a clearer understanding of their responsibilities and the best practices for mitigating ACH risks.
Webinar Agenda
- Introduction to ACH Risk Management
- Overview of the ACH Network and its functionalities, including Same Day ACH.
- Understanding Participants' Responsibilities
- Roles of ODFIs, RDFIs, TPSPs, and TPSs in assessing and managing ACH risk.
- Nacha Operating Rules Overview
- Key requirements for conducting ACH Risk Assessments (Articles 1 and 2) and developing an effective Risk Management Program.
- Four Steps to an Effective ACH Risk Management Program
- Outline of essential components and commonly overlooked elements in risk management.
- Importance of ACH Policies
- Discuss the need for thorough reporting of your ACH program to the Board.
- New Nacha Rule Amendment: TPS Roles & Responsibilities
- Detailed insights into the 2022 updates regarding TPS and nested TPS requirements for Risk Assessments.
Webinar Highlights
Attendees will gain insights into the following key topics:
- How the ACH Network Functions: An overview of the ACH system, including Same Day ACH functionality.
- Assessing Third-Party Senders (TPS): Strategies for researching TPS or nested TPS existence and evaluating their ACH risk.
- Utilizing Nacha Operating Rules: Key rules to apply during ACH Risk Assessments.
- Types of ACH Risk: Definitions and mitigation strategies for various ACH risks.
- Successful Risk Management Program Development: Essential elements required for a robust ACH Risk Management Program.
- Ongoing Monitoring Practices: Techniques for consistently monitoring the ACH program.
- Reporting to the Board: Importance of conveying ACH program details to your organization's Board.
- Summary of New Nacha Operating Rules: Insights into recent amendments for ACH Risk Assessments and TPS responsibilities.
Who Should Attend
Third-party senders and Processors (who process ACH payments)
- Originating Companies (who process ACH payments)
- Banking Operations Managers and Staff
- Compliance and Risk Professionals
- Treasury Management Professionals
- Aspiring and Current AAPs (Accredited ACH Professionals)-for CEC Credits
- Banking Managers/ Supervisors
- Audit and Compliance Personnel / Risk Managers
