Details on the recently approved amendments to the existing ACH security framework and how they affect the TPSP, TPA and Originators. The implementation will take place over a 2-phased process, starting with the largest Originators and TPSP/TPS and ending with large Originators and TPSP/TPS based on volume of ACH transactions. Challenges that may be encountered will be discussed as Originators and TPSP/TPS prepare for this addition to the existing ACH security framework. Included will be the ODFI’s responsibility to ensure the Originator and TPSP/TPS follow this new Rule.
As a financial institution, you have Originators, do you know what their ACH volume is in 2019 and/or 2020? This new Rule requires changes to existing security framework for the larger Originator and TPSP/TPS.
This is being implemented over a 2-phase approach, one being effective in June 2020 and the second in June 2021 based on ACH transaction volume.
In addition, Originators and TPSPs covered by the rule would be required to attest compliance to their ODFI (or other counterparty with whom they have their agreement to originate or transmit ACH entries).
Why Should You Attend:
With the change to the NACHA Operating Rules and the addition of additional security framework requirements, you need to be up-to-date on what is expected for the larger Originators and Third Party Service Providers [TPSP] (including Third-Party Senders [TPS]).As a financial institution, you have Originators, do you know what their ACH volume is in 2019 and/or 2020? This new Rule requires changes to existing security framework for the larger Originator and TPSP/TPS.
This is being implemented over a 2-phase approach, one being effective in June 2020 and the second in June 2021 based on ACH transaction volume.
In addition, Originators and TPSPs covered by the rule would be required to attest compliance to their ODFI (or other counterparty with whom they have their agreement to originate or transmit ACH entries).
Areas Covered in the Webinar:
- Details on the recently approved amendment affecting the larger Originators and TPSP/TPS
- Identify ACH volume guidelines for determining whether Originators, TPSP/TPS need to be compliant in phase 1 or phase 2
- Define the timeline for Phase 1 and 2 for the implementation of the enhanced ACH security framework
- List examples of what types of electronic storage containing deposit account information are part of this new requirement
- Provide suggestions on how to meet compliance requirements
Who Will Benefit:
- Large Originators (Company/Business Owners)
- Third Party Service Providers (TPSP)
- Third-Party Senders (TPS)
- Financial Institution Professionals (New/Current Operations Staff)
- Banking Operations Managers and Staff
- Compliance and Risk Professionals
- Treasury Management Professionals
- Banking Managers/Supervisors
- Audit Personnel
Course Provider
Donna K Olheiser,
