NEW Rules for Large Originators/TPS and TPSP - Discover the Impacts and Compliance Requirements

Instructor: Donna K Olheiser
Product ID: 705274
Training Level: Intermediate
  • Duration: 60 Min
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.

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Last Recorded Date: Oct-2018

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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
Instructor Profile:
Donna K Olheiser

Donna K Olheiser
Owner, Dynamic Mastership, LLC

Donna founded Dynamic Mastership, LLC in December 2014 in an effort to utilize her 24+ years’ experience in the financial services industry, by sharing her passion for training financial institutions and organizations on the Rules and processes for electronic payments (with her specialty being ACH payments). She holds the Accredited ACH Professional (AAP) designation (achieved in 2004). Donna’s experience before founding Dynamic Mastership, includes 9 years' serving 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, Donna spent 14 years with the Federal Reserve Bank of Minneapolis in various departments, where she started her training career as the Training and Development Specialist in 2003.

Donna is a certified Master Trainer who continually uses her extensive knowledge, experience, enthusiasm and passion for transferring payment processing details, while using the adult learning theory is remarkable! Her training style has helped many payment professionals remain consistently informed of the NEW and ever-changing NACHA Operating Rules and explaining how the Rules apply when performing daily operational tasks including complex return and exception processing. She incorporates scenarios and examples in her detailed training, so the Rules are easy to comprehend and apply to real-life day-to-day ACH processing. Donna's ability to engage the learner through the entire training event helps the adult learner apply what they've learned during and after each training session.

Topic Background:

Recently approved NACHA Rule Amendments will require large non-financial Originators and Third Party Service Providers (including Third-Party Senders) by adding to the existing account information security requirements when sending ACH Entries.

In the NACHA Operating Rules, there is an existing ACH Security Framework (effective in 2013), but with the ongoing concern in the industry at-large about the risk of data breaches and the potential use of such data, there needed to be some changes.

The original proposal intent was to expand the existing ACH Security Framework rules to explicitly require large, non-FI Originators, Third-Party Service Providers (TPSPs) and Third-Party Senders (TPSs) to protect deposit account information by rendering it unreadable when it is stored electronically.

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