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Course descriptions

ICB Credit: 2.5 CRCM

This three-part webinar series is designed specifically for banks. Each session builds off the last, providing attendees with ACH essentials.

This webinar, the third in the series, explores ACH pre-notifications, returns and reversals from the perspective of how each affects the RDFI and the ODFI. Some discussions will also include how the actions (or inactions) of an Originator affect the ODFI's liability and responsibility. We will walk through potential pitfalls, risks, and compliance obligations when handling daily situations.

Attendees will have the opportunity to test their new skills against common scenarios, with an emphasis on scenarios that are often handled incorrectly, resulting in non-compliance, increased risk and even preventable loss.

Attendees will receive a FREE Guide to Navigating the ACH Rules Book.

Note: Have your 2017 NACHA Operating Rules and Guidelines book (aka, ACH Rules) handy! If you do not have an ACH Rules book, please contact your regional payments association, order from www.nacha.org, or contact Janet Merlet at NEACH, [email protected] and mention promo code rppaymentsrisk to receive a 15% discount when ordering.



The instructor will be providing page numbers for your reference throughout the program, so you might want a highlighter handy as well.

This course is recommended for bank staff who are new to ACH and those studying for the Accredited ACH Professional (AAP) Exam.

Attendees will be able to:

  • Contrast the benefits and challenges of pre-notifications
  • Classify ACH returns, including compliance obligations
  • Examine the reversal process
  • Locate appropriate ACH Rules references for each subject in the ACH Rules book
  • Explore applicable laws and regulations
  • Define the appropriate response, using instructor provided scenarios
  • Demonstrate your new knowledge by successfully completing the course exam

Agenda:

  • ACH Rules Book Basics
    • Navigating the Rules
      • OR vs. OG
      • Participant obligations
      • Indemnification
  • Pre-notifications
    • Locate resources in the ACH Rules book
    • What is a pre-notification and why are they used
    • Timing of pre-notifications
    • ODFI and Originator use of pre-notes
    • RDFI receipt and response to pre-notes
    • The do's and don'ts of pre-notes
  • Returns
    • Locate resources in the ACH Rules book
    • Define and identify types of returns and participant obligations (RDFI and ODFI)
      • Return Reason Codes (tab in Rules book)
      • 2 day returns
      • 60 day returns
      • Extended returns / unusual circumstances
      • In-network returns
      • Out-of-network returns
        • NACHA Operations Bulletin 03-2003
        • Regulation E
      • Quiz - attendees decide when / if remedy is available through the ACH Network or if you must collect outside of the Network
        • If in-network return is applicable, attendees will identify the correct return reason code and weather a WSUD is required for the return
      • Dishonored returns
      • Unintended Credit to the Receiver (R62/
      • Incomplete Transactions (Chapter 10)
      • Return per the ODFI
    • Types of returns that require a new authorization before you can attempt to collect through the ACH Network
    • New and recent ACH Rules regarding returns
    • Reversals
      • Locate resources in the ACH Rules book
      • Reversal initiation
      • Reversal requirements
      • The reversal process
      • Risks
      • Why Reversals commonly fail
      • When reversals fail
        • RDFI response
        • ODFI/Originator obligations
      • Alternative in cases of fraud
    • Scenarios
      • Reversal or R06
        • Terminated employee paid by check AND ACH
        • Business customer reports large embezzlement
      • Returns
      • Pre-notification with name mismatch
    • Course Exam
  • WHO SHOULD ATTEND:
    This informative session is designed for anyone in the institution who is new to the ACH Network, including operations, auditors, and those responsible for ACH compliance. It's also a great basics course for those studying for the Accredited ACH Professional (AAP) Exam.


Webinar Reviews:

Very detailed - Annagarcia

Very good - ACHTRAIN3


Instructor(s)

Rayleen Pirnie

Rayleen is the founder and owner of RP Payments Risk Consulting Services, LLC. based in Missouri. She is a nationally recognized payments risk and fraud expert. Her programs educate financial institutions and businesses on topics ranging from payments fraud to information security. She is the author of several payments risk and fraud blogs geared toward helping organizations recognize threats and protect themselves from loss.Always interested in Risk Management, Rayleen has supported many notable organizations over the years. She is a member of the International Association of Financial Crimes Investigators, supporting their training programs since 1998. She sat on NACHA’s Risk Management Advisory group for two terms, and assisted with FSISAC’s first CAPP exercise. For 16 years Rayleen has spoken at national and regional conferences. Recent events include NACHAs Payments Conference, the American Bankers Association Risk Management Forum, the Security Matters annual conference at Murray State University, the Risk Management Association, and the Federal Reserve Bank of Kansas City Risk Management Conference.

Course curriculum

  • 1

    Video

    • ACH Basics: Part 3
  • 2

    Materials

    • Slides

    • Materials

    • Questions and Answers