Understanding Key Rule Changes and Risk Management Enhancements
In the fast-paced world of ACH operations, staying compliant with the Nacha Operating Rules is crucial for every participant in the ACH Network. With new updates rolling out, including "minor" Rules changes effective June 21, 2024, and significant Risk Management topics coming into effect on October 1, 2024, it's essential to be informed and prepared. Failure to stay updated could result in non-compliance, operational inefficiencies, and an increased risk of fraud.
This webinar by industry expert speaker, Donna K Olheiser, AAP is designed to equip you with the knowledge and tools needed to navigate these changes seamlessly. Donna will dive deep into the minor Rules changes that, while not drastically altering your operations, are essential for maintaining compliance. Additionally, we’ll cover critical Risk Management topics that will directly impact your processes, including expanded Return Reason Codes, updates to funds availability exceptions, and changes to handling unauthorized transactions.
Why This Topic Matters?
Remaining compliant with the Nacha Operating Rules isn't just a best practice—it's a necessity. The upcoming changes, while termed "minor," carry significant implications for your operations. Moreover, the Risk Management updates are pivotal in safeguarding your organization against fraud. By attending this webinar, you’ll ensure that your ACH operations are aligned with the latest standards and prepared for future shifts, including those slated for 2026.
NEW changes to the Nacha Operating Rules include "minor" Rules changes - effective June 21, 2024 (no major impact on operations but a must know to remain in compliance - by knowing the things they are clarifying in the minor Rule change topics).
In addition, Risk Management Topics - effective Oct 1, 2024 (covering topics that were proposed before but now really happening) - such as "Expanded use of Return Reason Codes R06 and R17"; "funds availability exceptions" and "Unauthorized Return changes for the RDFI with timing of the WSUD and returning the unauthorized transaction".
This will include detailed information on Operations Bulletins #1 & #2 – issued by Nacha in July 2024. Finally, a high-level view of changes taking place in 2026 will be part of this information-packed webinar!
Webinar Objectives
The primary objective of this webinar is to equip participants in the ACH Network with the essential knowledge and tools to remain compliant with the latest Nacha Operating Rules updates. By attending, you will:
- Understand the "minor" Rules changes effective June 21, 2024, and their implications for daily operations.
- Gain insight into critical Risk Management topics effective October 1, 2024, including expanded Return Reason Codes, updates to funds availability exceptions, and handling unauthorized transactions.
- Learn how to implement necessary adjustments to stay compliant and reduce the risk of operational inefficiencies and fraud.
- Explore the broader implications of these changes for fraud prevention and fund recovery within your organization.
- Be prepared for future shifts in the Nacha Operating Rules, including significant changes anticipated in 2026.
This webinar will ensure your ACH operations remain aligned with the latest regulatory standards, safeguarding your organization against potential non-compliance risks.
Webinar Agenda
- Introduction and Welcome
- Overview of session objectives
- Importance of staying compliant with Nacha Operating Rules
- June 21, 2024: "Minor" Nacha Rule Changes
- Detailed review of the minor updates
- Impact on daily ACH operations
- Key clarifications and compliance requirements
- October 1, 2024: Risk Management Rule Updates
- Expanded use of Return Reason Codes (R06, R17)
- Updates to funds availability exceptions
- Handling unauthorized transactions: New WSUD timing and return requirements
- Nacha Operations Bulletins #1 & #2: Key Takeaways
- Overview of July 2024 Bulletins
- Practical implications for ACH operations
- Looking Ahead: Upcoming 2026 Changes
- High-level overview of future rule shifts
- Preparing your organization for long-term compliance
- Best Practices for ACH Risk Management
- Strategies for fraud prevention and fund recovery
- Aligning your operations with new standards
- Q&A Session
- Open discussion for participant questions and clarifications
- Conclusion and Next Steps
- Summary of key takeaways
- Final thoughts on staying ahead of future Nacha changes
Webinar Highlights
- Overview of "minor" Nacha Operating Rules changes effective June 21, 2024, and their impact on maintaining compliance.
- In-depth discussion on Risk Management updates effective October 1, 2024, focusing on expanded Return Reason Codes (R06 and R17) and updates to funds availability exceptions.
- Key updates on handling unauthorized transactions, including new timelines for Written Statements of Unauthorized Debit (WSUD) and return processes for RDFIs.
- Detailed review of Nacha Operations Bulletins #1 & #2, issued in July 2024, and their relevance to your ACH operations.
- A high-level overview of upcoming rule changes set for 2026 and their anticipated impact on fraud prevention and fund recovery.
- Practical guidance on aligning your ACH operations with the new standards to mitigate risks and enhance fraud detection.
- Interactive Q&A session with industry expert Donna K Olheiser, AAP, to clarify compliance concerns and operational adjustments.
Who Should Attend
- Financial Institution Professionals (New/Current Operations Staff)
- Third-Party Processors (who process ACH transactions)
- Originating Companies (who process ACH transactions)
- Banking Operations Managers and Staff
- Compliance and Risk Professionals
- Treasury Management Professionals
- Aspiring and Current AAPs (Accredited ACH Professionals)
- Banking Managers/ Supervisors
- Audit and Compliance Personnel / Risk Managers
Credit(s)
IRS CPE Credits: 2 Tax hour
