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Validity : 21st Oct'21 to 31st Oct'21
An ACH Risk Assessment is a valuable tool to help your organization identify the risks associated with its ACH program; this same ACH Risk Assessment is also required for all financial institutions per the Nacha Operating Rules.
Developing a sound Risk Management program to continually monitor the areas of Risk, then analyze your actions to ensure you are exercising mitigation tools to keep risk at its lowest possible. When there is a change in your ACH program, an updated Risk Assessment is needed to continually be on top of all areas of Risk to your ACH program. Discussion includes ways to help reduce the Risks associated with sending and receiving ACH transactions.
The Nacha Operating Rules clearly identify the importance of KYC (Knowing Your Customer) for the ODFI and by performing an ACH Risk Assessment, this will help determine the level of Risk the financial institution is enduring and thus help them create an effective Risk Management Program to help manage the ACH Risk that their program is subject to when processing ACH transactions for their customers. This 60-minute session will help identify what the KYC process should contain and how to set exposure limits, plus how to mitigate different types of Risk associated with sending different types of ACH Entries.