Keeping pace with rule amendments equips you to 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.
Background
Every year, there are changes to the NACHA Operating Rules that impact the way your financial institution processes the ACH transactions it receives and originates. There are two major rule amendments that took place in September 2013 that will have an impact on your 2014 ACH rules compliance audit requirements. Eleven amendments have already been approved for 2014 implementation, and there may be more. Keeping pace with rule amendments equips you to 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.
Agenda
Topics to be covered include:
• A brief review of the Data Security Framework and Healthcare EFT Transactions rule amendments that were effective in late 2013 and their 2014 audit requirements
• All rule amendments effective in 2014, including:
o Notifications of Change (NOCs) for Single Entries
o Person-to-Person Payments via ACH
o Proof of Authorization for Non-Consumer Entries
Benefits
Participate so you can:
• Comply with the rule requirement to provide “CORE-required minimum CCD+ reassociation data” when requested
• Identify portions of the new Healthcare EFT transaction and Data Security rule requirements must be added to your 2014 audit
• Understand how the new person to person (P2P) entry can be used to expand your product offerings
• Prepare 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