ComplianceOnline Seminar Highlights How to Conduct an ACH Risk Assessment & Develop an Effective ACH Risk Mgmt. Program

"How to Conduct an ACH Risk Assessment and Develop an Effective ACH Risk Management Program" Seminar has been added to ComplianceOnline.com's offering.

SAN JOSE, CA, UNITED STATES, June 24, 2021 /EINPresswire.com/ -- ComplianceOnline, the world’s leading provider of training for regulated companies, will be holding a seminar entitled ‘How to Conduct an ACH Risk Assessment and Develop an Effective ACH Risk Management Program’ on July 13-14, 2021. The seminar will be presented by Donna K Olheiser, who is having 24+ years of experience in the financial services industry.

There is risk in every type of payment system and the ACH network is no exception. As a Financial Institution, Third Party Service Provider, or a Third-Party Sender, processing ACH transactions, you can encounter a variety of risks such as credit, fraud, and operational (to name a few). According to the NACHA Operating Rules, financial institutions are required to assess and manage all ACH risks, particularly when the institutions engage in riskier ACH activities. The risk of fraud can be mitigated through proper due diligence for all originating customers and strict adherence to ACH and credit policies.

Why Should You Attend:

This virtual 2-day workshop will include a hands-on activity (using provided worksheets) where participants can participate in "assessing the risk" of fictitious companies and third parties to help identify the importance of due diligence (KYC-Know Your Customer) and setting exposure limits. In addition, adhering to the financial institutions ACH Policies on Origination and Receipt of ACH Entries is a big part of managing ACH risk. Exposure limits should be appropriate based on the risks of each customer (Originator) and identifying potential companies who may require the use of pre-funding arrangements or reserves (which can both be effective in helping to control losses).

ODFI's and RDFI's are exposed to a variety of risks when originating, receiving, or processing ACH transactions, or outsourcing these activities to a third party. Financial Institutions should use guidance provided by FinCEN, the FFIEC, and the OCC (in addition to the Rules developed by NACHA) to develop an ACH Risk Management program that reflects the nature and complexity of their activities. This workshop will identify the guidance provided and provide resources for effectively managing ACH Risk in the future. In this session, we will outline the key components of an effective ACH risk management program while participating in developing that program in a fictitious scenario.

This virtual workshop will provide the 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. In addition, details on guidance from FinCEN, the FFIEC, and the OCC will be discussed. ACH Policies and the importance of them, reporting to the Board regarding your ACH program, and registration requirements (according to NACHA) for the ODFI will be included.

This virtual workshop (via webinar over two days) will be an adventure for all who attend as we develop an ACH Risk Management Program during a fictitious scenario while learning the key elements of managing ACH risk. This is a "must-attend" 2-day virtual workshop webinar series!

Learning Objectives:

• How the ACH Network functions
• NACHA Operating Rules on conducting an ACH Risk Assessment
• Developing an effective ACH Risk Management Program
• The different types of Risk and ways to mitigate
• What’s needed for a successful ACH Risk Management Program
• The importance of monitoring the entire ACH program consistently
• The importance of Reporting details relating to the ACH Program to the Board
• Registration requirements with NACHA

Who Will Benefit:

Any payments professional working in the ACH Network will benefit from this course; these individuals could include operations, compliance, AR/AP, payroll, risk management, audit, legal counsel, management, risk officers, and AAP’s.

Field of Study:

• Auditing: 1.2 CPE Credits
• Business Management & Organization: 1.8 CPE Credits
• Management Services: 1.8 CPE Credits
• Personal Development: 2.4 CPE Credits
• Specialized Knowledge: 3.6 CPE Credits
• Total CPE credits earned in this workshop: 10.8 CPE Credits

Prerequisites: Basic knowledge of the ACH Network, to include terminology, the participants, how payments work, and the different types of ACH payments.

For more information or to register for this seminar, please click here.
Virtual Training Through WebEx
Date: July 13-14, 2021 (8:30 AM to 2:30 PM PDT)

About the Speaker:

Donna founded Dynamic Mastership, LLC in December 2014 in an effort to utilize her 24+ years of 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've learned during and after each training session.

About ComplianceOnline.com:

ComplianceOnline is a leading provider of regulatory compliance training programs for companies and professionals in regulated industries. ComplianceOnline has successfully trained over 55,000 professionals from 15,000 companies to comply with the requirements of regulatory agencies. ComplianceOnline is headquartered in Palo Alto, California, and can be reached at http://www.complianceonline.com. ComplianceOnline is a MetricStream portal. MetricStream (www.metricstream.com) is a market leader in Enterprise-wide Governance, Risk, Compliance (GRC), and Quality Management Solutions for global corporations.

For more information on ComplianceOnline or to browse through our training programs, please visit our website.

Priyabrata Sahoo
ComplianceOnline
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