This 2-day intensive class is designed to elevate your organization's payments security. Participants gain a comprehensive understanding of payment risks, learn how to implement robust risk mitigation strategies, and develop effective incident response plans.
This master class covers topics such as risk identification, assessment, and prioritization, and industry best practices. Through interactive exercises and real-world case studies, you'll acquire the practical skills needed to protect your organization's financial assets and reputation.
About Payments Risk Master Class
Risk, fraud, and regulations are common to all payment channels, and failure to understand these can result in financial losses, lost customers, a tarnished reputation, and violations of state and federal laws. Building a solid foundation for detecting and mitigating risk and fraud begins with an understanding of the major payment channels (ACH, Check, Card, Wire, FedNow, and RTP) and their common and unique risks. The Payments Risk Master Class gives attendees a solid foundation for risk detection and mitigation by providing an understanding of the risks, fraud potential, and governing rules and regulations for each of the identified payment systems. Topics covered during this two-day program include:
ACH Payment Channel:
- Third-Party Sender relationship risk and credit risk
- Operational and fraud risks and techniques to mitigate them
Check Payment Channel:
- Risks associated with clearing and settlement of checks and check images, including returns and adjustments, as well as the unique risks associated with Remotely Created Checks
- Key components of contracts and agreements to aid in mitigation risk
Card Payment Channel:
- Sound business practices to reduce losses, and available tools to assist in combating card fraud
- Overview of chargeback process for disputed card transactions and Regulation E investigation requirements
RTP Channel:
- Overview of the legal framework associated with the newest payment channel as well as features and benefits of RTP Comparison and RTP functionality to other faster payment options available in the marketplace
FedNow Channel:
- Overview of the legal framework associated with the newest payment channel launching in 2023 as well as features and benefits of FedNow.
Wire Transfer Payment Channel:
- Review of the wire payments system, including unique requirements, governing regulations, and UCC 4A
- Unique risks, including how credit, fraud, operational, reputation, systemic, and sovereign risks relate to wire transfer
More Details
Member: $445
Member Bundle (5 Registrations): $1,245
Non-Member: $845
AAP/APRP Credits - TBD
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