Amendments to the Nacha Operating Rules clarified the roles and responsibilities of Third-Party Senders (TPSs) that use the ACH network. This 90-minute Nacha third-party sender rules webinar explains what changed and what it means for each participant.
The amendments explicitly recognize not only TPSs but also nested TPSs, and require a TPS to conduct an ACH risk assessment. You'll learn how to identify a TPS and a nested TPS, which agreements are required between which parties, and whether existing TPS agreements need to be re-papered.
The session also covers registration requirements for TPSs and nested TPSs, what they mean for the ODFI, and the parts of the rules that came with a six-month grace period.
WHY SHOULD YOU ATTEND?
ODFIs and TPSs need clear agreements, registrations and risk assessments to stay compliant with the Nacha Operating Rules. This session clarifies roles, documentation and responsibilities so you can check your own arrangements.
It suits bank and ACH operations staff, new payments employees, bank managers, CEOs and CFOs, risk, compliance and audit personnel, and current and aspiring AAPs.
AREA COVERED
- Defining a Third-Party Sender (TPS)
- Defining a nested Third-Party Sender
- Required agreements, between which parties, and why they matter for compliance
- Reviewing existing TPS agreements and whether re-papering is required
- Registration requirements for TPSs and nested TPSs and what they mean for the ODFI
- What an ACH risk assessment is and its purpose
- Who must complete the ACH risk assessment under the rule
- Aspects of the rules that have a six-month grace period
LEARNING OBJECTIVES
- Identify a Third-Party Sender and a nested Third-Party Sender
- List the agreements required between parties and why they are needed
- Decide whether current TPS agreements must be re-papered
- Explain TPS and nested TPS registration and its impact on the ODFI
- Describe the purpose of an ACH risk assessment and who must perform it
- Identify which rule requirements had a grace period
WHO WILL BENEFIT?
- Bank operations staff
- New employees in the payments industry
- Bank managers and payment professionals
- CEOs and CFOs
- Risk, Compliance, and Audit personnel
- Aspiring AAPs and current AAPs for AAP CE Credits
- Financial Institutions
- Banking Professionals
- Audit Persons
- ACH operations staff
- ACH Audit personnel
ODFIs and TPSs need clear agreements, registrations and risk assessments to stay compliant with the Nacha Operating Rules. This session clarifies roles, documentation and responsibilities so you can check your own arrangements.
It suits bank and ACH operations staff, new payments employees, bank managers, CEOs and CFOs, risk, compliance and audit personnel, and current and aspiring AAPs.
- Defining a Third-Party Sender (TPS)
- Defining a nested Third-Party Sender
- Required agreements, between which parties, and why they matter for compliance
- Reviewing existing TPS agreements and whether re-papering is required
- Registration requirements for TPSs and nested TPSs and what they mean for the ODFI
- What an ACH risk assessment is and its purpose
- Who must complete the ACH risk assessment under the rule
- Aspects of the rules that have a six-month grace period
- Identify a Third-Party Sender and a nested Third-Party Sender
- List the agreements required between parties and why they are needed
- Decide whether current TPS agreements must be re-papered
- Explain TPS and nested TPS registration and its impact on the ODFI
- Describe the purpose of an ACH risk assessment and who must perform it
- Identify which rule requirements had a grace period
- Bank operations staff
- New employees in the payments industry
- Bank managers and payment professionals
- CEOs and CFOs
- Risk, Compliance, and Audit personnel
- Aspiring AAPs and current AAPs for AAP CE Credits
- Financial Institutions
- Banking Professionals
- Audit Persons
- ACH operations staff
- ACH Audit personnel
