Recent updates to the Nacha Operating Rules are further clarifying the Roles and Responsibilities for Third-Party Senders (TPSs) who use the ACH network. Purpose of the update is to explicitly identify the use of not just TPSs but also “nested” TPS.
The update is also addressing the requirement that a TPS conduct a Risk Assessment.
Both Rules become effective Sept 30, 2022, with a 6-month grace period for certain aspects of each Rule.
This 90-minute session will address all the details.
Areas covered during the session:
Key points surrounding TPS Roles and Responsibilities and what it means to the participants in the ACH Network will be detailed. In this session, the trainer will:
- Define a Third-Party Sender (TPS)
- Define a “nested” Third-Party Sender (TPS)
- List details of agreement requirements between which parties and why this is necessary for compliance
- Explain current TPS agreements in place and is re-papering required, guidance for moving forward
- Identify an ACH Risk Assessment and its purpose
- Outline who needs to do the ACH Risk Assessment based on this NEW Rule
- Detail certain aspects of the Rule that have a 6-month grace period
Why Should You Attend?
This session will help the attendee to identify a Third-Party Sender (TPS) and a “nested” TPS. In addition, we will cover the details needed in the agreements between all parties and what parties based on their role. Discussion on the registration requirement for both the TPS and the nested TPS and what that means to the ODFI.
Details on what individual aspects of the Rules have a 6-month grace period and how this affects compliance with these two NEW Rule amendments.
Who will benefit?
- Bank operations staff
- New employees in the payments industry
- Bank managers and payment professionals
- CEO’s and CFO’s
- Risk, Compliance and Audit personnel
- Aspiring AAP’s and current AAP’s for AAP CE Credits
- Financial Institutions
- Banking Professionals
- Audit Persons
- ACH operations staff
- ACH Audit personnel
Donna K Olheiser, AAP, is the vice president of Education Services and founder of Dynamic Mastership, LLC. She is an enthusiastic and energetic Certified Master Trainer with over 14 years’ experience. She has designed and facilitated over 150 training sessions each year with her expertise being the rules for companies and financial institutions when processing electronic (specifically ACH) payments, then scheduling the events to facilitate/deliver the material through a variety of venues (webinars, teleseminars, in-person workshops, including regional and national conferences). Ms. Olheiser is also an experienced project manager managing education programs for organizations processing electronic payments and developing personalized training programs for financial institutions.
She has over 23 years of experience in the financial services industry which includes 9 years’ experience 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, Ms. Olheiser spent 14 years in various departments with the Federal Reserve Bank of Minneapolis and also holds the Accredited ACH Professional (AAP) designation (achieved in 2004).
Her extensive knowledge, enthusiasm and passion for transferring payment processing knowledge using the adult learning theory is remarkable and has helped many payment professionals perform daily operational tasks including exception processing while remaining compliant with the NACHA Operating Rules. She uses scenarios and examples to bring the learning home, easy to comprehend and apply to real-life day-to-day ACH processing. Ms. Olheiser’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.
Tags: Nacha Rule, Third-Party Sender, TPS, Roles, Responsibilities, February 2023, Donna, Oheiser, Webinar