BankerCollege

The importance of the core elements of managing payments related risk (e.g., risk assessment, policies and procedures, due diligence, real time controls, and oversight) is magnified in payment processor relationships Managing these risks can be challenging if the financial institution isn’t completely informed about the third-party relationships or if there is an absence of controls that enable the financial institution to react fast enough to identify errors before they create consequences or to detect and prevent fraud. Attendees will hear the postmortem details of some recent cases that involved third-party processors (in both check collection and ACH processing) and the “unknowns” that led to significant financial and reputational losses for banks that frankly could have prevented the damage if they had done a better job of identifying and managing the risks arising from the “unknowns.” The cases fall into two categories: “Oops, we are a billion over the limit” and “Beware the d/b/a’s.”

Who Should Attend?

• Payments Professionals (May submit AAP/AAPR Continuing Education Credits)
• Deposit Operations/Electronic Banking
• Client Facing Teams
• Treasury Sales and Operations
• BSA and Fraud
• Compliance Officers
• Internal Audit
• Information Security/Technology