The ABC'S of Completing the Annual ACH Rules Compliance Audit

Duration: 90 Minutes
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The NACHA Operating rules and guidelines require that all participating depository financial institutions, third-party senders and third-party service providers that provide ACH services conduct an annual ACH audit to be performed by December 31 of each year (ACH Rules, Appendix Eight). By each participant performing the annual ACH audit, this helps ensure that electronic payments work safely and efficiently for all users. Attend this webinar to gain an understanding of general audit requirements, the functions of a Receiving Depository Financial Institution (RDFI), and also for an Originating Depository Financial Institution (ODFI).
Annual ACH Rules Compliance Audit
Instructor: Donna K Olheiser
Product ID: 502960
Objectives of the Presentation
  • Define general audit requirements
  • Identify the details of the ACH Audit for the ODFI (and how this pertains to their Originators)
  • Outline the Audit requirements for the Third-Party Sender - including the new requirement for registration with NACHA
  • List what the Third-Party Service Provider is responsible for with regards to the annual ACH Audit
  • Provide tips to help the auditor performing the annual ACH Audit - to ensure compliance with the NACHA Operating Rules
  • Review “best practices” and requirements for additional audit requirements (as defined by NACHA)
  • Overview of questions to ask while performing the annual ACH Rules Compliance Audit
Why Should you Attend
Every financial institution, Third-Party Service Provider and Third-Party Sender that provide any function within the ACH Network is required to complete the annual ACH Audit for Rules Compliance. This session will outline the Audit process according to Appendix 8 in the NACHA Operating Rules and what elements of your ACH program need to be checked and verified to ensure compliance with these Rules.

Areas Covered
Topics discussed pertaining to the Annual ACH Audit include:
  • General Audit Requirements
    • Agreements
    • Previous audits
    • Retention
  • Receiving Depository Financial Institution (RDFI)
    • Prenotes
    • NOCS
    • Returns, stops and WSUDS
  • Originating Depository Financial Institution (ODFI)
    • ODFI agreements
    • Exposure limits
    • Originator obligations
Who will Benefit
  • Financial Institution Professionals (New/Current Operations Staff)
  • Banking Operations Managers and Staff
  • Compliance and Risk Professionals
  • Treasury Management Professionals
  • Aspiring and Current AAPs (Accredited ACH Professionals)
  • Payroll Processors
  • Company / Business Owners (Originators)
  • Banking Managers/ Supervisors
  • Third-Party Service Providers and Third-Party Senders
  • Audit and Compliance Personnel / Risk M
Topic Background
According to the NACHA Operating Rules, an annual ACH Rules Compliance Audit needs to be completed by the RDFI, ODFI, TPSP and TPS. A walk-through of Appendix 8, while identifying key elements of your ACH Operations to be examining when doing your ACH Audit will be covered in this session.
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  • Upon purchase of the recorded session a link will be updated on your OCP Account within 24 hours
  • Please click on the link to access the Recorded Session
  • Presentation handouts in downloadable PDF format will be updated on your OCP Account within 24 hours of the purchase of the product
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  • Please share your valuable Feedback at the end of the session
Instructor Profile:
Donna K Olheiser, AAP, is the vice president of Education Services and founder of Dynamic Mastership, LLC. She is an enthusiastic and energetic Certified Master Trainer with over 14 years' training experience. She has designed and facilitated over 100 training sessions each year with her expertise being the rules for companies and financial institutions when processing electronic (specifically ACH) payments, then scheduling the events to facilitate and deliver the material through a variety of venues (webinars, teleseminars, in-person workshops, including regional and national conferences).

Her extensive knowledge, enthusiasm and passion for transferring payment processing knowledge using the adult learning theory is remarkable and has helped many payment professionals perform daily operational tasks including exception processing while remaining compliant with the NACHA Operating Rules. She uses scenarios and examples to bring the learning home, easy to comprehend and apply to real-life day-to-day ACH processing. Ms. Olheiser'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.

She has over 24 years of experience in the financial services industry which includes 9 years' experience 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, Ms. Olheiser spent 14 years in various departments with the Federal Reserve Bank of Minneapolis and also holds the Accredited ACH Professional (AAP) designation (achieved in 2004).
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