Details
January 22, 2015
10:30AM - 11:30AM
Identifying Third Party Relationships
Webinar
Member $199 | Non-Member $398
Third Parties are the talk of the town, but do you really understand what the talk is all about? One type of Third Party is a Third Party Sender. A Third-Party Sender looks like a typical originating customer but is actually a customer that originates ACH transactions for its own customers. This type of customer creates an additional level of risk for an ODFI because the originating institution may not actually realize what types of businesses it is working with. To protect itself from this type of risk, the ODFI not only needs to know their customers (KYC) and their customer’s customer (KYCC), but also their customer’s customer’s customer (KYCCC). This course will help define each type of third-party, what actions they perform in the ACH network, and how this affects the liabilities, risks, and audit requirements they face. You will uncover:
- New definitions of third parties
- Types of agreements needed
- Risks associated with third-parties
- Audit Requirements
Who should attend: Suitable for ACH Operations personnel, Risk Management personnel, Business Account and Credit Managers, Loan Officers, Cash Management
>> 1.2 AAP Continuing Education Credits
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01/22/2015 10:30 AM
01/22/2015 11:30 AM
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Identifying Third Party Relationships
Member $199 | Non-Member $398
Third Parties are the talk of the town, but do you really understand what the talk is all about? One type of Third Party is a Third Party Sender. A Third-Party Sender looks like a typical originating customer but is actually a customer that originates ACH transactions for its own customers. This type of customer creates an additional level of risk for an ODFI because the originating institution may not actually realize what types of businesses it is working with. To protect itself from this type of risk, the ODFI not only needs to know their customers (KYC) and their customer’s customer (KYCC), but also their customer’s customer’s customer (KYCCC). This course will help define each type of third-party, what actions they perform in the ACH network, and how this affects the liabilities, risks, and audit requirements they face. You will uncover:
New definitions of third parties
Types of agreements needed
Risks associated with third-parties
Audit Requirements
Who should attend: Suitable for ACH Operations personnel, Risk Management personnel, Business Account and Credit Managers, Loan Officers, Cash Management
>> 1.2 AAP Continuing Education Credits
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