NEW Nacha Rule - Third-Party Sender (TPS) Roles and Responsibilities
Speaker: Donna K Olheiser, AAP
Speaker Designation: VP of Education & Founder, Dynamic Mastership
Speaker: Donna K Olheiser, AAP
Speaker Designation: VP of Education & Founder, Dynamic Mastership
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.
This session will help the attendee 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.
Key points surrounding TPS Roles and Responsibilities and what it mean to the participants in the ACH Network will be detailed. In this session, the trainer will:
Donna founded Dynamic Mastership, LLC in December 2014 in an effort to utilize her 24+ years’ experience in the financial services industry, by sharing her passion for training financial institutions and organizations on the Rules and processes for electronic payments (with her specialty being ACH payments). She holds the Accredited ACH Professional (AAP) designation (achieved in 2004). Donna’s experience before founding Dynamic Mastership, includes 9 years' serving 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, Donna spent 14 years with the Federal Reserve Bank of Minneapolis in various departments, where she started her training career as the Training and Development Specialist in 2003.
Donna is a certified Master Trainer who continually uses her extensive knowledge, experience, enthusiasm and passion for transferring payment processing details, while using the adult learning theory is remarkable! Her training style has helped many payment professionals remain consistently informed of the NEW and ever-changing NACHA Operating Rules and explaining how the Rules apply when performing daily operational tasks including complex return and exception processing. She incorporates scenarios and examples in her detailed training, so the Rules are easy to comprehend and apply to real-life day-to-day ACH processing. Donna'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.
