ACH Transactions Compliance and Training Guide
Changes in the ACH network mean not only changes to rules and regulations, but also changes to the way we conduct our business: Same Day ACH implementation is a perfect example. The ACH Transactions Compliance and Training Guide is designed to help your financial institution maintain compliance with the ACH rules and regulations and keep your daily ACH operations running efficiently. As its title suggests, the Guide has two components: ACH compliance and ACH training. Updated periodically, this manual is an excellent tool for your financial institution to use not only to keep up-to-date, but to keep your account holders up-to-date as well.
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Staying informed and in compliance can be a challenge in this complex industry.
ACH Compliance. This manual is not intended to replace the ACH Rules, or be used instead of the Rules. It is a reference tool containing explanations and examples to assist with application of the ACH Rules when originating or receiving ACH transactions.
Why is compliance so important? Noncompliance with the ACH Rules can create rules violations, potentially resulting in a fine to the financial institution. Lack of ACH risk management policies and well-documented operational procedures can expose your institution not only to a financial loss, but also loss of account holders and damage to the institution’s reputation.
ACH Training. The Guide is also an excellent resource to use in preparation for the AAP (Accredited ACH Professional) exam offered by NACHA in October. The manual includes training materials that can be used as a self-paced training program or in a classroom setting. The issues covered include ACH Fundamentals, ACH Files, ODFI and RDFI Operations, Other ACH Participants, Risk Management, and Regulatory Compliance.
Why is training so important? Whether you choose self-paced study or classroom training, you will find the comprehensive reviews, manager’s handbook, and examination invaluable tools to help keep your ACH knowledge current and skills sharp.
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Table of Contents
Part I Introduction to the ACH Network
Chapter 1: Introduction and Overview
Chapter 2: ACH Transactions
Part II ODFI and RDFI Issues
Chapter 3: Origination of ACH Entries
Chapter 4: Receipt of ACH Entries
Chapter 5: Returns and Corrections Generated by Financial Institutions
Part III Other ACH Participants
Chapter 6: Corporate Originators
Chapter 7: ACH Operators
Chapter 8: Financial Institutions/Third-Party Service Provider Relationships
Part IV Compliance Issues
Chapter 9: Rules Enforcement
Chapter 10: Regulatory Compliance
Part V Risk Management
Chapter 11: Risk Management
Chapter 12: Fraud Risk
Part VI ACH Audit
Chapter 13: ACH Rules Compliance Audit
Part VII Same Day ACH
Chapter 14: Practical Guide to Same Day ACH
Part VIII Reference Materials
Chapter 15: Glossary of ACH Terms
Chapter 16: Resources
Part IX Training Materials
Chapter 17: Comprehensive Review and Answers
Chapter 18: Manager’s Handbook with Chapter Reviews and Answers
Chapter 19: Examination Questions and Answers