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 to the RDFI or ODFI, conduct an annual ACH audit by December 31 of each year (ACH Rules, Article 1).
There have been many Rule changes that affect your annual ACH Rules Compliance Audit in 2023, including the verification of registration and accuracy of info in the ACH Contact Registry PLUS the MOST recent rule amendment including Third-Party Senders (TPS); and Micro-Entries (both new in 2022!).
This session will cover “step-by-step” the audit process and requirements for each participant conducting an annual ACH audit, to help ensure their compliance with the Nacha Operating Rules.
The annual ACH Rules Compliance Audit requires a precise examination of all ACH processes that a participant is involved in, then completing the “compliance test” of those processes to ensure compliance with the Nacha Operating Rules.
There are recent Unauthorized Returns processes (with an additional ODFI monitoring requirement), PLUS a NEW TPS Registration and “Risk Assessment”! These are all part of the verification during the annual ACH Rules Compliance Audit for compliance with the Nacha Operating Rules.
This session will identify who needs to conduct an annual ACH Audit. In addition, outline the process for each participant that is required to conduct the annual Rules compliance Audit, plus offer tips and guidance for creating your own personalized ACH Audit (based on the ACH activities you utilize).
• » General Audit Requirements
• 1. Agreements
• 2. Previous audits
• 3. Retention
• » Receiving Depository Financial Institution (RDFI)
• 1. Pre-notes
• 2. NOCS
• 3. Returns, stops, and WSUDS
• » Originating Depository Financial Institution (ODFI)
• 1. ODFI agreements
• 2. Exposure limits
• 3. Originator obligations
• Identify the participants in the ACH network required to conduct an annual ACH Rules compliance Audit
• Define what the General Audit Requirements are (now in Article 1).
• Discussion on tools available in the Nacha Operating Guidelines for guidance when conducting the annual ACH Rules Compliance Audit, including the TPS audit.
• Review the flexibility for each participant when following the Guidelines, which include the ODFI, RDFI, TPSP, and TPS within the Rules Book.
• Describe “how-to” to ensure Rules Compliance after determination of what ACH activities are being audited.
• Recommended areas to check (audit) in addition to during the ACH Audit.
• ACH Operations staff
• Compliance Officers
• Treasury professionals
• Third-Party Payment Processors
• Third-Party Senders
• ACH Managers
• Electronic Payments Professionals
• ACH auditors (internal and external)
The annual ACH Rules Compliance Audit requires a precise examination of all ACH processes that a participant is involved in, then completing the “compliance test” of those processes to ensure compliance with the Nacha Operating Rules.
There are recent Unauthorized Returns processes (with an additional ODFI monitoring requirement), PLUS a NEW TPS Registration and “Risk Assessment”! These are all part of the verification during the annual ACH Rules Compliance Audit for compliance with the Nacha Operating Rules.
This session will identify who needs to conduct an annual ACH Audit. In addition, outline the process for each participant that is required to conduct the annual Rules compliance Audit, plus offer tips and guidance for creating your own personalized ACH Audit (based on the ACH activities you utilize).
• » General Audit Requirements
• 1. Agreements
• 2. Previous audits
• 3. Retention
• » Receiving Depository Financial Institution (RDFI)
• 1. Pre-notes
• 2. NOCS
• 3. Returns, stops, and WSUDS
• » Originating Depository Financial Institution (ODFI)
• 1. ODFI agreements
• 2. Exposure limits
• 3. Originator obligations
• Identify the participants in the ACH network required to conduct an annual ACH Rules compliance Audit
• Define what the General Audit Requirements are (now in Article 1).
• Discussion on tools available in the Nacha Operating Guidelines for guidance when conducting the annual ACH Rules Compliance Audit, including the TPS audit.
• Review the flexibility for each participant when following the Guidelines, which include the ODFI, RDFI, TPSP, and TPS within the Rules Book.
• Describe “how-to” to ensure Rules Compliance after determination of what ACH activities are being audited.
• Recommended areas to check (audit) in addition to during the ACH Audit.
• ACH Operations staff
• Compliance Officers
• Treasury professionals
• Third-Party Payment Processors
• Third-Party Senders
• ACH Managers
• Electronic Payments Professionals
• ACH auditors (internal and external)
Donna K Olheiser
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 …
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