ACH Origination Compliance - Originator and ODFI Roles & Responsibilities

         According to the NACHA Operating Rules, the ODFI takes on all the warranties and responsibilities for each and every ACH Entry they transmit into the network, What does this mean? What about the Originator - What is their Role? Do they have responsibilities and obligations? Direct Deposit and Direct Payment via ACH are the two most common forms of ACH origination Entries; then there are your non-consumer or corporate payments, followed by your check conversion and other types of transaction such as WEB and TEL.

         Originators and ODFI's NEED agreements in place to identify the responsibilities of each party when ACH transactions are submitted into the ACH network. Exposure limits need to be set and processing schedules determined. Same Day ACH - Do you have any Originators who are interested in sending?

         This 90-minute information-filled session will include the elements of the ACH Originator-ODFI agreement, why they are needed and the purpose they serve. Included will be identifying Exposure Limits and ensuring that each Originator is in compliance with the NACHA Operating Rules when it comes to the elements within that agreement plus covering all authorization requirements.

         What are the Originator's obligations and the warranties that the ODFI will carry when they transmit ACH Entries into the network?

         How are Returns, Notifications of Change and Prenotes handled - are your procedures up to date? This session will identify how to remain in compliance with the NACHA Operating Rules during the transmission of ACH Entries.

• Identify authorization requirements
• Outline Originator's obligations
• List minimum elements in the Originator-ODFI agreement
• Dist minimum elements in the Originator-ODFI agreement
• Illustrate Same Day identifier if used for Same Day
• Describe the Pre-note Process and what that means to each party
• Identify the NOC (COR Entry) process

• Minimum requirements in the Originator - ODFI agreement
• Tips on setting exposure limits
• Obligations of the Originator
• Warranties of the ODFI
• Prenote processing and the Originator/ODFI
• NOC (COR Entry) processing – listing timeframes for each step

This webcast will be of a valuable assistance to the below audience.

• Banking Operations managers and staff
• Treasury Management professionals
• Compliance and Risk professionals
• ACH managers
• aspiring AAP's (Accredited ACH Professional)
• Company / Business Owners (Originators)
• Banking Managers/ Supervisors
• Audit and Compliance Personnel / Risk Managers

• Financial Institutions (banks and credit unions)
• ACH Operations Departments
• Audit Departments (within financial institutions)