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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.

This session will cover the General Audit Requirements along with the specifics for the RDFI and ODFI processes and what types of questions to ask and things to look for when completing your annual ACH Rules Compliance Audit.


 

  • 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 in regard 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


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).


pics discussed the Annual ACH Audit include 

  • General Audit Requirements
           1. Agreements
           2. Previous audits
           3. Retention

  • Receiving Depository Financial Institution (RDFI)
           1. Prenotes
           2. NOCS
           3. Returns, stops and WSUD’s

  • Originating Depository Financial Institution (ODFI)
           1. ODFI agreements
           2. Exposure limits
           3. Originator obligations


 

  • 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)

  • Audit and Compliance Personnel / Risk Managers

  • Payroll Processors

  • Company / Business Owners (Originators)

  • Banking Managers/ Supervisors

  • Third-Party Service Providers and Third-Party Senders

  • Internal audit

  • Operations

  • Credit risk managers

  • Loan Officers

  • All Accredited ACH Professional


Donna K Olheiser, AAP, is the vice president of Education Services and founder of Dynamic Mastership, LLC. Donna 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 specifically ACH electronic payments, then scheduling the training events to facilitate/deliver the material through a variety of venues (webinars, teleseminars, in-person workshops, including regional and national conferences). Donna 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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