ACH Risk Assessment

Each financial institution, is required to perform a risk assessment of their ACH activities and implement a risk management program in accordance with the requirements of their regulators. Additionally, participants are further impacted by the requirement to conduct additional risk management practices prior to originating ACH entries and by the requirement to cover specific topics in all new or renewed Originator and Third-Party Sender Agreements. A financial institution must understand and identify the complexity and nature of their ACH services to effectively perform the risk assessment. A PaymentsFirst ACH expert can evaluate the complexity of services offered, discuss inherent risk, and assess the institution’s residual risk based on implemented controls. The PaymentsFirst ACH Risk Assessment is a thorough assessment of ACH activities and the institution’s overall risk management program. The written report evaluates inherent risk and provides recommendations and risk ratings of the institution’s residual risk.

The PaymentsFirst ACH Risk Assessment service includes:

  • 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

Compliance Services Request Form

Tip: Schedule early to ensure availability, efficient preparation time and to avoid additional charges.