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Registering Your Third-Party Sender - NEW Rule! How to Identify Your Third-Parties so you’re ready in Sept 2017!
- Identify ways in which the ODFI can perform due diligence to determine “if” they have a Third-Party Sender relationship
- Outline details on how to determine if there is a “nested” Third-Party Sender
- Provide the implementation period, provided by NACHA to submit initial registration information, or to provide statements that the ODFIs have no Third-Party Sender customers
- Outline timeframe that ODFIs will have to register their Third-Party Sender customers
- Define the requirements for the ODFI to provide a limited set of initial, basic registration information for each Third-Party Sender
Overview of the webinar
In this 90-minute session, the different types of Third-Parties will be addressed. Third-Party Service Provider and Third-Party Sender and the difference between the two will be identified to help the ODFI in determining if they have a Third-Party Sender relationship. The ODFI is required, with this new Rule, to register any Third-Party Sender relationship or even if there is no relationship, registration is still necessary.
Attend this session to hear suggestions on how the ODFI can perform their due diligence to determine whether they have a Third-Party Sender relationship and register with NACHA accordingly beginning Sept 29, 2017.
Who should attend?
- ACH Operations Staff
- Compliance Officers
- Third-Party Payment Processors
- Third-Party Senders
- ACH Managers
- Electronic Payments Professionals
- AAPs – keeping up with changes in ACH Rules and wanting to earn AAP Continuing Education Credits
Why should you attend?
A NEW Rule was recently approved and will require Originating Depository Financial Institutions (ODFIs) to identify and register their Third-Party Sender customers with NACHA. This Rule becomes effective September 29, 2017. The registration process will promote consistent customer due diligence among all ODFIs, and serve as a tool to support NACHA’s continuing efforts to maintain ACH Network quality.
In order to understand the impact, this will make on the different participants (specifically Third Parties), we need to identify the “Third-Party Sender”. Extremely detailed examples will be used to help with this identification (due diligence) process.
Faculty - Ms.Donna Olheiser
Donna K Olheiser, AAP, is the vice president of Education Services and founder of Dynamic Mastership, LLC. She is an enthusiastic and energetic Certified Master Trainer with over 14 years’ experience. She has designed and facilitated over 150 training sessions each year with her expertise being the rules for companies and financial institutions when processing electronic (specifically ACH) payments, then scheduling the events to facilitate/deliver the material through a variety of venues (webinars, teleseminars, in-person workshops, including regional and national conferences).
Ms. Olheiser is also an experienced project manager managing education programs for organizations per their requests on processing electronic payments while developing personalized training programs for financial institutions. She has over 23 years of experience in the financial services industry which includes 9 years’ experience 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, Ms. Olheiser spent 14 years in various departments with the Federal Reserve Bank of Minneapolis and also holds the Accredited ACH Professional (AAP) designation (achieved in 2004).
Her extensive knowledge, enthusiasm, and passion for transferring payment processing knowledge using the adult learning theory is remarkable and has helped many payment professionals perform daily operational tasks including exception processing while remaining compliant with the NACHA Operating Rules. She uses scenarios and examples to bring the learning home, easy to comprehend and apply to real-life day-to-day ACH processing. Ms. Olheiser’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.