Recorded: March 24, 2016
Length:60 Minutes
ACH Appendix Eight - New NACHA requirements for 8.1 and 8.2 in 2016
NACHA Operating Rules and Guidelines require that all participating depository financial institutions (DFI), third-party senders and third-party service providers that offer ACH services to conduct an annual ACH audit no later than December 31 of each year. It's imperative to gain a strong understanding of audit requirements and the functions of a receiving depository financial institution (RDFI), and an originating depository financial institution (ODFI). During this 60-minute session, you’ll learn about the important sections of the audit focusing on agreements, previous audits and verification requirements.
Following this session, you’ll understand:
- The audit requirements needed to remain compliant
- Who in your bank is responsible and accountable for oversight of and fulfillment of the audit requirements
- The retention requirements for audit documentation
- The responsibilities of a DFI to the National Association regarding an audit of compliance
- The ACH Operations audit specifications that must be conducted in respect to the following:
- Retention
- Records in electronic form
- Compliance to Appendix Eight
- Use of Encryption
- Entries processes through non-affiliated participating DFI
- ACH Risk assessments
- DFI established security policies
Presenter: Don Caniglia
Don Caniglia is a Senior Security Consultant with InfoSight, Inc. Don has more than 40 years of direct experience in Banking and S&L operational Audit, IS Audit, Systems Support and Information Security, with the last 10 years providing IT Audit, Security and Compliance, Risk and Governance consultation services. Don works closely with InfoSight customers to design and implement information security programs. Don performs many seminars and has presented more than 500+ instructional sessions to customers.
1 CPE Credit
Program Level: Basic-Intermediate
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