Description
Every year, there are changes to the NACHA Operating Rules. The Rules provide the framework for the way your financial institution must processes the ACH transactions it receives and originates. There are eight amendments impacting the rules in 2014, two of which have a September 19 effective date. There are also several amendments already announced that will bring processing changes in 2015. Keeping pace with these amendments will prepare you to:
• Remain in compliance with rules and avoid rules violations and potential fines,
• Control your financial institution’s ACH processing risk,
• Meet your account holder’s needs, and
• Satisfy examiner and industry regulator expectations.
Topics to be covered include:
• A review of all eight rule amendments effective in 2014, such as:
o Notifications of Change (NOCs) for Single Entries
o Person-to-Person Payments via ACH
o Proof of Authorization for Non-Consumer Entries
• The impact the amendments have on your 2014 audit
• An introduction to the amendments effective in 2015
Benefits
• Knowing what portions of the new Healthcare EFT transaction and Data Security rule requirements must be added to your 2014 audit
• Understanding how the new person to person (P2P) entry can be used to expand your product offerings
• Being prepared to conduct OFAC screening on International ACH Transactions (IAT) in a way that eliminates the potential risk of doing business with a blocked party
Who Should Attend
• ACH Officers
• Business Support Services Managers
• Compliance Officers
• Operations Managers
• Deposit Specialists
• Lead Tellers
• Operations Associates