This week's free banking policy is an ACH policy. The purpose of the ACH Policy is to comply with all ACH rules, regulations and other related requirements. The policy specifically defines the Institution’s intentions regarding the requirements under ACH Rules, The Green Book, Federal Regulation E, and Uniform Commercial Code Article 4A which permits alternative handling based upon individual financial institution policies and procedures.
Every Tuesday, Continuity Engine releases a free banking policy for use by community banks and credit unions across America. These policies are made available through Creative Commons licensing so that banks and credit unions may freely remix and reuse the content to suit their individual financial institution's needs. When we release a new policy, the previous week's policy is archived on our community where it is always available for free to community members. In case you were wondering, membership in our community is always free for credit union folks and community bankers.
Please remember that this policy is only available for free on our website through September 8, 2009. If you are looking for a particular policy that you would like us to feature on a future Free Policy Tuesday, please let us know in the comments!
Showing posts with label ACH. Show all posts
Showing posts with label ACH. Show all posts
ACH policy - Free Policy Tuesday
Control Tv Episode #3
Episode #3 - August 7, 2009
Episode length: 23 minutes, 9 seconds
View on Viddler
Intro:
- Find your hosts on Twitter: @SonyaJMills and @JimKisch
- New Client shout-out: Rachel & Nancy from Bridgewater - Wendy from Unity
- www.continuity.net - Join Community and ask your banking peers
- Ask the Expert forums (on Community): Andy Greenawalt [Information security] and Jim Kisch [Compliance and Risk Management]
- LinkedIn: Compliance Support Group
- Twitter: @CE_Community and/or #ControlTv
ICBM history: Jim was their technology chairperson for a few years ending in about 03. Technology resource program, TechXpo, surcharge free network, Segway
ICBM
- Information Technology Security
- General Operations
- General Information Technology (network support, handheld devices policy, mobile banking, Voice over IP)
- Internet Banking, Online cash management, bill payment and mobile banking
- Imaging and Item Processing
- Reports and Business Intelligence
- Website hosting and design
- Fraud Management (data breaches, new card schemes, foreclosure counselors and pandemic)
- Core Banking Systems (Note other groups based on core banking systems: ITI, PCS, JHA)
Compliance Challenge of the Week:
- ACH
Who: credit risks require input from lending area, compliance folks are managing compliance risks and operations folks are covering the transaction risks.
For example:
Underwrite each new originator
Monitoring your thresholds monthly
Reading understanding rules and distributing ACH rules
Review Reg D disclosures monthly
Review Reg E disclosure annually
Review reciprocal or outsource processing agreements annually
Compliance should review audit activities annually
And by the way, we've got an ActionPack for that, just hit install and the entire lifecycle is automated for you.
FreePolicyTuesday:
Completely free on www.continuity.net for 1 week. All past policies are noted and archived on our free community.
The Information Systems Department must approve all Internet users based on their specific needs in performing their job functions. Employees should be aware that nothing on your computer is private information. The Bank Management and the Information Systems Staff, and in some cases other designated staff members, may view the contents of your computer at any time, and all email, letters, visits to web sites, and all other information may be reviewed without your permission or knowledge at any time. Internet users must follow these Internet guidelines.
Closing Comments:
- interested in seeing the show live?
- please leave any feedback in the comments section
