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ACH Risk Assessment Workshop

ACH Risk Assessment Workshop. ACH Risk Assessment Workshop. Rachel Rathman. Compliance Director. Beavercreek Marketing. Steve Rasmussen. President. Beavercreek Marketing. Disclaimer Notice.

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ACH Risk Assessment Workshop

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  1. ACH Risk Assessment Workshop

  2. ACH Risk Assessment Workshop Rachel Rathman Compliance Director Beavercreek Marketing Steve Rasmussen President Beavercreek Marketing

  3. Disclaimer Notice • Any interpretations or views expressed, written or verbally, are Beavercreek Marketing’s views of the impact of the regulatory/legislative rulings and do not constitute a legal opinion. • Beavercreek Marketing and Fiserv assume no liability or responsibility for errors or omissions in the content of thispresentation or the Navigator software.

  4. About Beavercreek Marketing • Mission is to be the premier provider of highly efficientmarketing, education, and compliance solutions for Fiserv financial institutions. • Since 1981, delivered programs to over 2,500 FIs. • Programs are available exclusively to Fiserv FIs. • Rachel RathmanDirector of Compliance, Beavercreek MarketingOCC Examiner for 13 yearsSpecializing in Safety and Soundness, and Compliance

  5. Why Complete an ACH Risk Assessment? • An ACH risk assessment is now required by NACHA’s Risk Management and Assessment rule. • This rule goes into effect June 18, 2010. • This rule also requires participating DFIs (Depository Financial Institutions) to implement risk management programs based on the results of their risk assessments.

  6. What Should an ACH Risk Assessment Include? • Different from NACHA Rules compliance audit • Should be completed in accordance with the requirements of regulators • Accurately identify risks • Communicate material risks to the Board of Directors • Assist with developing risk-based policies, procedures, and internal controls • Incorporates new products, services, or legal entities • Updated on a regular basis - at least annually, or when significant changes to ACH program occur • Must assess the nature of risks associated with ACH activity • Should consider at a minimum credit, operational, reputation, compliance, fraud, and third party risks • Address most current FFIEC guidance for ACH and IAT

  7. How Does the ACH Risk Assessment Navigator Software work? Click to demo the ACH Risk Assessment Navigator

  8. How Does the ACH Risk Assessment Navigator Tool Assess Risk? • Yes / No survey question format exposes area where further controls/action items may be needed • Consider the likelihood of risk • Consider the consequence of risk • Determine action items necessary to mitigate risk levels

  9. What Techniques Can be Used to Mitigate Risk? • Yes / No survey question format prompts development of strategies to mitigate risk • Ability to assign follow-up items to specific staff members and to track completion of action items • After completion of action items, risk can be reassessed to determine the effectiveness of corrective action

  10. Easy to use survey format and risk ratings • Automates the process for issuing assignments using email • Easy tracking of all assignments and due dates • History of risk ratings stored for each category, time-date stamped • Report printing with multiple print options • Updates are provided for major Fiserv product releases and new regulations* • Live and/or recorded training is included for major upgrades & new compliance issues* • Technical software support is always available. Beavercreek cannot provide legal guidance for completing your risk assessments * Available to current subscribers.

  11. Pricing: ACH Navigator software: $995.00 (includes 12-months of updates) Less Introductory Discount: $200.00 (thru July 30, 2010) ------------------------------------------------------------------------------------- Final purchase price: $795plus shipping and applicable sales tax Shipping Options: UPS Ground: Free Overnight Delivery: Add $30.00 Price includes 12-months of updates to software and risk assessment. Additional annual updates will automatically be invoiced at $495.00 each year. You may cancel at any time.

  12. 1. ACH and International ACH (IAT) 2. Internet banking 3. Business Internet banking 4. Multifactor authentication 5. Online bill pay 6. Business online bill pay 7. Merchant Source Capture 8. Consumer Source Capture 9. Branch Source Capture 10. Mobile Source Capture 11. Mobile Money 12. Wires 13. Positive Pay 14. P2P payments 15. A2A payments 16. eStatements 17. Stop Payments 18. Online enrollment/applications Product & pricing to be announced Q3, 2010 100% of ACH Navigator purchase price will be credited toward purchase of Total Navigator. Coming Soon! Total Navigator – for Fiserv Electronic Banking Products

  13. Purchase ACH Navigator at www.bankall.comFor more information contact Beavercreek Marketinginfo@bankall.com308-381-0311

  14. ACH Risk Assessment Workshop

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