Updates to FFIEC BSA/AML Examination Manual: What You Really Need to Know?

Total Seats: 150

Date and Time:

30 October, 2023 10:30 am PDT - 11:30 am PDT

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Description

COURSE DESCRIPTION:

The Nacha Operating Rules and Guidelines require that all participating depository financial institutions, third-party senders, and third-party service providers that provide ACH services to the RDFI or ODFI, conduct an annual ACH audit by December 31 of each year (ACH Rules, Article 1). There have been many Rules changes since 2019 that affect your annual ACH Rules Compliance Audit in 2023, including the verification of registration and accuracy of the info in the ACH Contact Registry (new in 2020!).

The annual ACH Rules Compliance Audit requires a precise examination of all ACH processes that a participant is involved in, then completing the “compliance test” of those processes to ensure compliance with the NACHA Operating Rules.

There are NEW Unauthorized Returns processes (with an additional ODFI monitoring requirement), PLUS a NEW ACH Contact Registry verification requirement added to the annual ACH Rules Compliance Audit!

This session will help you identify who at your financial institution needs to conduct an annual ACH Audit. In addition, we will outline in detail the process for each participant who will conduct the annual Rules compliance audit, plus offer tips and guidance for creating your own personalized ACH Audit (based on the ACH activities you utilize).

AREAS COVERED:

  • Identify the participants in the ACH network required to conduct an annual ACH Rules compliance Audit
  • Define what the General Audit Requirements are
  • Suggested items for your ACH Audit
  • Method for auditing these items
  • What auditors should be looking for when performing the ACH audit
  • Discussion on tools available in the Nacha Operating Guidelines for guidance when conducting the annual ACH Rules Compliance Audit
  • Review the flexibility for each participant when following the Guidelines, which include the ODFI, RDFI, TPSP, and TPS within the Rules Book
  • Describe “how-to” ensure Rules Compliance after determination of what ACH activities are being audited
  • Recommended areas to check (audit) in addition during the ACH Audit

WHY SHOULD YOU ATTEND?

In this webinar, we’ll review areas of the ACH Rules that are suggested as part of your ACH Audit. To be compliant with the ACH Rules, you must perform the audit annually. It does not matter the size of your financial institution or if you use a data center for your processing. Join us to discuss the areas of the audit, what you are looking for when completing it, and how to avoid common mistakes and violations.

This session on the 2023 ACH Rules Compliance Audit is designed to assist financial institutions in complying with the audit requirements found within Nacha Operating Rules and Guidelines. This 2023 edition of the webinar has been enhanced, reflecting recent changes to the NACHA Operating Rules and Guidelines.

WHO WILL BENEFIT:

  • ACH Operations staff
  • Compliance Officers
  • Treasury professionals
  • Third-Party Payment Processors
  • Third-Party Senders
  • ACH Managers
  • Electronic Payments Professionals
  • ACH auditors (internal and external)
  • Risk Management

ABOUT THE INSTRUCTOR:

Donna K Olheiser has over 25 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 and also holds the Accredited ACH Professional (AAP) designation.

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 life day-to-day ACH processing. Her ability to engage the learner through the entire training event helps the adult learner apply what they’ve learned during each training session.

REFUND POLICY:

Attendees may cancel up to 24 hours before the course start date and the refund will be processed within two working days.

We will process/provide A refund if the webinar is canceled. Refunds will not be given to participants who do not show up for the webinar. On-Demand Recordings can be requested in exchange. Webinars may be canceled due to a lack of enrolment or unavoidable factors. Attendees will be notified 24 hours in advance if a cancellation occurs. Substitutions can happen anytime.

If you have any concerns about the content of the webinar and are not satisfied please contact us at care@thecomplyguide.com

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