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Managing Operational Risk in Payments


Event Details*
Tuesday, June 13, 2023
2:00 - 3:00 pm ET
Webinar; 1.2 AAP/APRP CEU Eligible
Level: Intermediate

Event Registration**
Member Price: $225.00
Non-Member Price: $325.00

When it comes to payment processing, there is a lot to do to ensure that nothing goes wrong that results in many potential risks. The risk management framework for payments can be pretty intense, and it can be helpful to break down these risks into sub-topics to understand them better. In this session, we explore the topic of operational risk and relate it to payment functions. Operational risk in payments is the risk that a transaction will be altered or delayed due to an unintentional mechanical or human error.

To explore operational risk in more detail, we will apply concepts related to the FFIEC’s risk management framework and explore how this concept applies to ACH, Remote Deposit Capture (RDC), and Wires. For instance, for RDC, has your institution explored the risks associated with RDC items that end up mis-encoded during the image capture process? How about your operational procedures? Are they detailed, and do they contain all steps needed when someone less familiar needs to step into the process? This session will also inform attendees about applying adequate risk management controls and mitigation, such as backup and continuity planning, staff training, and technology controls/processing streamlining.

Attendees in this session will:
• Describe operational risk as it relates to payments
• Discuss how FFIEC guidance applies to the operational risk framework
• Identify operational risks across payment channels
• Review examples of ways to mitigate operational risk across payment Channels

Rayleen M. Pirnie, BCJ, AAP, CERP, Director, Risk & Fraud, NEACH

• Compliance
• Operations
• Risk/Compliance

You might also like:
• APRP Accreditation Program,
• Manager’s Role in Payment Risk Management

*Please note that the access information will be sent to you in a separate email upon receipt of payment. Access information and support are only provided during normal business hours.

** This event is part of the NEACH Education Club. Members who join the Club save $75 off the cost of this event.

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