Becoming an ODFI in the ACH Network (4 Part Series)

Part 1: Onboarding and Approving New Customers (5/13/2025)

This module covers the essential steps and best practices for onboarding and approving new customers in the ACH Network. Participants will learn about the necessary documentation, risk assessments, and compliance requirements to ensure a smooth and secure onboarding process. 

Topics include:

• Understanding the ACH Network and the role of ODFIs
• Required documentation and agreements
• Conducting risk assessments and due diligence
• Compliance with Nacha Operating Rules and regulations
• Best practices for customer onboarding and approval

Part 2: Ongoing Monitoring of Customer ACH Activity (5/16/2025)

In this module, participants will explore the importance of ongoing monitoring of customer ACH activity to detect and mitigate potential risks. The course will cover various monitoring techniques, tools, and strategies to ensure compliance and maintain the integrity of the ACH Network. 

Topics include:

• Monitoring customer ACH activity for anomalies and fraud
• Utilizing automated tools and systems for monitoring
• Implementing effective risk management practices
• Compliance with regulatory requirements and Nacha Operating Rules
• Responding to suspicious activity and potential fraud

Part 3: Periodic Reviews of Originators (6/06/2025)

This module focuses on the periodic reviews of originators to ensure they continue to meet the necessary standards and requirements for participating in the ACH Network and to meet contractual obligations with you as their ODFI. Participants will learn about the review process, including the evaluation of originator performance, risk assessments, and compliance checks. 

Topics include:

• Conducting periodic reviews of originators
• Evaluating originator performance and compliance
• Risk assessments and ongoing due diligence
• Addressing non-compliance and taking corrective actions
• Best practices for maintaining a strong originator relationship

Part 4: Board Management of the Program (6/13/2025)

The final module covers the role of the board in managing and overseeing the ACH program. Participants will learn about the board's responsibilities, including setting policies, monitoring program performance, and ensuring compliance with regulatory requirements. 

Topics include:

• Understanding the board's role in ACH program management
• Setting policies and procedures for the ACH program
• Monitoring program performance and compliance
• Ensuring adherence to regulatory requirements and Nacha Operating Rules
• Best practices for effective board oversight and governance

This comprehensive program will equip participants with the knowledge and skills needed to successfully become an ODFI in the ACH Network, ensuring compliance, risk management, and effective program oversight.