ACH Risk Assessments
Our team of ACH experts at PAR offers ACH risk assessments for financial institutions, Third-Party Senders, and Third-Party Service Providers. We are experienced in the complexity and nature of ACH, and committed to effectively performing your risk assessments.
Financial Institution ACH Risk Assessments
Each financial institution is required to perform a risk assessment of their ACH activities and implement a risk management program in accordance with their regulators' requirements. Participants are further impacted by the requirements to conduct additional risk management practices prior to originating ACH entries and to cover specific topics in all new or renewed Originator and Third-Party Sender Agreements.
Third-Party ACH Risk Assessments
For Third-Party Senders and Third-Party Service Providers, it is a sound business practice for companies that perform ACH services on behalf of customers or on behalf of financial institutions to assess the risk of their ACH activities. The Nacha Operating Rules and Guidelines requires Third-Party Senders to perform a risk assessment of their ACH activities and implement a risk management program since when acting as a Third-Party Sender they assume many responsibilities of the ODFI. You should expect verification of compliance as part of your next ACH Audit and/or regulatory examination.
ACH Risk Assessments Include:
A PAR ACH expert can evaluate the complexity of services offered, discuss inherent risk, and assess the institution’s residual risk based on implemented controls. The PAR ACH Risk Assessment is a thorough assessment of ACH activities and the organization's overall risk management program. The written report evaluates inherent risk and provides recommendations and risk ratings of the institution’s residual risk.
- Prior to and onsite checklists
- Client questionnaire
- Review of agreements
- Exit interview
- Written report including findings and/or recommendations
- Risk Assessment Certification form
- Access to auditor for questions