ACH Risk Assessment: Learn How to Conduct Effective Risk Assessments

The ACH Rules require all participating depository financial institutions to at least periodically conduct an ACH risk assessment. Complex payment applications, regulatory changes, and changing technologies present frequent challenges, along with other risks including frauds such as identity
theft and kiting which continue to threaten your bottom line. Conducting your risk assessment will help identify areas of potential risk and assess internal controls, including adequate management, information, and reporting systems to monitor and mitigate these risks. Your institution’s risk assessment should identify its ACH risk exposure based on current rules and address the actions needed to address those risks. Conducting your self-audit will help your financial institution to minimize financial losses and operate more efficiently.

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In general ACH risks are either operational, credit, or fraud-related.  Reducing these requires preparation, and the time to begin planning for and conducting your self-assessment is now! Join us as we explore the assessment requirements for both RDFIs and ODFIs. We will help you organize a self-assessment that fits your circumstances.  Certainly, one size does not fit all financial institutions.  We will discuss tips and best practices for organizing and conducting your ACH risk assessment, as well as provide guidance on pinpointing frequent areas of non-compliance. With this greater understanding, you’ll be in a better position to identify your potential ACH risks and to improve any necessary operational procedures.

What You Will Learn:

During this highly informative ACH risk assessment webinar you’ll learn:

• Requirements and timetables for conducting your self-assessment
• On which areas to focus based on your ACH activity
• Common areas of non-compliance which have been identified during past UMACHA member ACH Risk Assessments
• Best practices for identifying typical ACH frauds
• Review of current ACH regulatory requirements
• Examples of frequently found operational risks
• Discussions of commonly discovered credit risks
• Writing reports and procedures for reporting to senior management and the Board
• Tips and best practices for improving your ACH Risk Management

• ACH operations staff
• Operations managers
• Operations training staff
• Backup operations staff
• ACH management and staff
• IT staff
• Internal auditors
• Treasury management professionals
• Compliance officers
• ACH auditors