The NACHA Operating Rules are always changing, updates have recently been made and continue to be in place due to the current COVID-19 situation! Four ACH Operations Bulletins posted by Nacha in 2020 explain the updates to the Rules due to changes at financial institutions and extensions of effective dates in light of the current situation; and confirming some Rules changes with current effective dates remaining.
Why Should You Attend:
To remain in compliance with the Rules, participants in the ACH network need to ensure they are up to date on recent changes and newly approved amendments to the Rules. Discussion on the Operations Bulletins issued by Nacha will outline the updates to different Rules with our current situation and COVID-19. Recent RFC (Request for Comment) and an RFI (Request for Information) on even more possible changes will be discussed. Included will be the most recent amendment that affects all financial institutions using the ACH Network.
You will learn about the impacts of the ACH Contact Registration Rule - which went into effect on July 1, 2020!
This session will also cover the newly approved details and any recent updates by NACHA, plus how these changes affect you as a participant in the ACH network, whether you are an ODFI, an RDFI or a TPS or TPSP. Changes such as Data Security requirements (effective date has been extended) and how Originators are affected by the Fraud Detection Standards for web debits. In addition, the processing of Unauthorized Returns has changed effective April 1, 2020 for phase 1 (phase 2 goes into effect April 1 of 2021) - As the RDFI, are you prepared for the proper use of R10 and R11 (what to do if you’re not ready) and as the ODFI, are you aware of changes to the ODFI Reporting Requirements for R11 and the Unauthorized Entry Fee?
This is a must-attend session, your ACH operations process IS CHANGING! Register Today!
Areas Covered in the Webinar:
- Define amendments to the Rules on Expanding Same Day ACH and how these changes will affect you as a financial institution, as the RDFI and the ODFI!
- Describe the potential impact on participants in the ACH network with approved changes to other ACH Risk Management topics such as:
- Supplementing the fraud detection standard for Internet-initiated (WEB) debits
- Supplementing the existing account information security requirements for large Originators and Third-Parties (effective date has been extended)
- Details on the most recent change to specifying the details of an unauthorized return by repurposing Return Reason Code R11 to further define the “why” or purpose of return entry
- Includes all details on the six 2020 Operations Bulletins as issued by Nacha since Jan 2020
- Updates on the recently approved changes for Meaningful Modernization “Reversals and Enforcement” and and “Limitations on Warranty Claims”. Plus potential changes regarding “Account Information Improvements Through the ACH Network”
Speakers
Ms Donna Olheiser,
Vice President of Education Services and founder ,
Dynamic Mastership, LLC.Donna K Olheiser, AAP, is the Vice President of Education Services and founder for Dynamic Mastership, LLC. She is an enthusiastic and energetic Certified Master Trainer with over 14 years’ experience, she designed and facilitated over 150 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/deliver the material through a variety of venues (webinars, tele-seminars, in-person workshops, including regional and national conferences). Donna is also is an experienced Project Manager managing education programs for organizations processing electronic payments and developing personalized training programs for financial institutions. Donna has over 23 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, Donna 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). Donna’s 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. Donna’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. If you have not attended a session with Donna, you should add at least one session to your “to-do list” in 2015, definitely worth your investment!
Who Should Attend
- Financial institution professionals
- Banking operations managers and staff
- Compliance and risk professionals
- Treasury management professionals
- Aspiring and current AAPs (Accredited ACH Professionals)
- Company/business owners
- Third-party service providers and third-party senders
- Audit and compliance personnel/risk managers
- ACH operations staff
- ACH auditors
- Business development officers
- Controllers
- Presidents/vice presidents
- Managers/supervisors
