ACH Audits & Risk Assessments
Strengthen your ACH operations in compliance, risk controls, and efficiency. Allow your trusted SFE advisors to conduct your annual ACH Audit and recommended Risk Assessment.
Find the details of service you will receive by expanding the sections below. You can also find additional compliance services for financial institutions for thorough reviews of your RDC, Wire Transfer, and Real-Time Payments processes.
When you bundle services or schedule your compliance services to be completed before July 1st, you are eligible for rate discounts.
REQUEST FOR PROPOSAL
Financial Institutions
ACH Annual Audit
Nacha requires that all participating Depository Financial Institutions, third-party senders and third-party service providers that provide ACH services conduct an Annual ACH Audit to be performed by December 31 of each year. Who better to conduct your annual ACH audit than your resource for electronic payments information and training? A SFE Accredited ACH Professional (AAP) can conduct your annual ACH audit and examine each facet of your ACH operation.
Nacha Rules Compliance Audit Service Includes:
- Pre-audit checklist
- Performance of audit requirements as required by the ACH Rules/ Nacha Operating Rules
- Review of Sound Business Practices and internal controls
- Review of balancing and reconciliation functions
- Written ACH Audit Management Report with findings and recommendations for improvement
- Audit Certification form
- Access to auditor for questions after on-site appointment
ACH Risk Assessment
Each financial institution is required to 1) perform a risk assessment of their ACH activities, and 2) implement risk management programs in accordance with “the requirements of their regulators". A financial Institution must understand and identify the complexity and nature of their ACH services to effectively perform the risk assessment. A SFE accredited ACH Professional can evaluate your complexity of services and perform a thorough review of compliance with the required risk management practices and assess your ACH risk.
ACH Risk Assessment Service Includes:
- Thorough assessment of ACH activities & risk management program
- Formal Written Report including Risk Rating Matrix
- Onsite review period (minimum of 1 full day)
- ACH Volume report for 12 months following the assessment
- Pre-Assessment Worksheet & Checklist
- Review of originator agreements to ensure compliance with new requirements
- Exit meeting
- Access to auditor for questions after on-site visit
REQUEST FOR PROPOSAL
Tip: Schedule early to ensure availability, efficient preparation time and to avoid additional charges.
Third-Party Senders
ACH Annual Audit
Nacha requires that all participating Depository Financial Institutions, third-party senders and third-party service providers that provide ACH services conduct an Annual ACH Audit to be performed by December 31 of each year. Who better to conduct your annual ACH audit than your resource for electronic payments information and training? A SFE Accredited ACH Professional (AAP) can conduct your annual ACH audit and examine each facet of your ACH operation.
Nacha Rules Compliance Audit Service Includes:
- Pre-audit checklist
- Performance of audit requirements as required by the ACH Rules/ Nacha Operating Rules
- Review of Sound Business Practices and internal controls
- Review of balancing and reconciliation functions
- Written ACH Audit Management Report with findings and recommendations for improvement
- Audit Certification form
- Access to auditor for questions after on-site appointment
ACH Risk Assessment
Each financial institution is required to 1) perform a risk assessment of their ACH activities, and 2) implement risk management programs in accordance with “the requirements of their regulators". A financial Institution must understand and identify the complexity and nature of their ACH services to effectively perform the risk assessment. A SFE accredited ACH Professional can evaluate your complexity of services and perform a thorough review of compliance with the required risk management practices and assess your ACH risk.
ACH Risk Assessment Service Includes:
- Thorough assessment of ACH activities & risk management program
- Formal Written Report including Risk Rating Matrix
- Onsite review period (minimum of 1 full day)
- ACH Volume report for 12 months following the assessment
- Pre-Assessment Worksheet & Checklist
- Review of originator agreements to ensure compliance with new requirements
- Exit meeting
- Access to auditor for questions after on-site visit
REQUEST FOR PROPOSAL
Tip: Schedule early to ensure availability, efficient preparation time and to avoid additional charges.
Third-Party Service Providers
ACH Annual Audit
Nacha requires that all participating Depository Financial Institutions, third-party senders and third-party service providers that provide ACH services conduct an Annual ACH Audit to be performed by December 31 of each year. Who better to conduct your annual ACH audit than your resource for electronic payments information and training? A SFE Accredited ACH Professional (AAP) can conduct your annual ACH audit and examine each facet of your ACH operation.
Nacha Rules Compliance Audit Service Includes:
- Pre-audit checklist
- Performance of audit requirements as required by the ACH Rules/ Nacha Operating Rules
- Review of Sound Business Practices and internal controls
- Review of balancing and reconciliation functions
- Written ACH Audit Management Report with findings and recommendations for improvement
- Audit Certification form
- Access to auditor for questions after on-site appointment
ACH Risk Assessment
Each financial institution is required to 1) perform a risk assessment of their ACH activities, and 2) implement risk management programs in accordance with “the requirements of their regulators". A financial Institution must understand and identify the complexity and nature of their ACH services to effectively perform the risk assessment. A SFE accredited ACH Professional can evaluate your complexity of services and perform a thorough review of compliance with the required risk management practices and assess your ACH risk.
ACH Risk Assessment Service Includes:
- Thorough assessment of ACH activities & risk management program
- Formal Written Report including Risk Rating Matrix
- Onsite review period (minimum of 1 full day)
- ACH Volume report for 12 months following the assessment
- Pre-Assessment Worksheet & Checklist
- Review of originator agreements to ensure compliance with new requirements
- Exit meeting
- Access to auditor for questions after on-site visit
REQUEST FOR PROPOSAL
Tip: Schedule early to ensure availability, efficient preparation time and to avoid additional charges.
Compliance Services
Education
SFE provides professional development sessions to keep you prepared for rapid changes in ACH, check, card wire and emerging payments systems allowing you to choose the training methods that work best for your staff.
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Online Store
SFE offers a wide variety of publications which are valuable tools to help you increase awareness and understanding of established rules and applications, reduce risk and increase operational efficiency.
Member Information
SFE members receive SFE News Link every week which contains a brief overview of an issue, typically with a link that provides additional detailed information. SFE members also have access to SFE Support Hotline, samples, forms, in addition to deep discounts on education, publications and service.
more informationACH Audits & Risk Assessments
Strengthen your ACH operations in compliance, risk controls, and efficiency. Allow your trusted SFE advisors to conduct your annual ACH Audit and recommended Risk Assessment.
Request for Proposal
