Financial institutions accept, collect, and process a variety of payment instruments and participate in clearing and settlement systems. In some cases, financial institutions perform all of these tasks. However, independent third parties are increasingly involved in this process, introducing new risks that affect the security of financial institutions.
Why You Should Attend:
This E-Payments compliance training will outline and discuss the emerging market of electronic payments. We will talk about risk profiles and the quality of risk management practices as required by internal and external auditors.
The primary objectives this session are to evaluate the effectiveness of the internal controls and risk management processes implemented by the financial institution and/or the technology service provider.
A number of new payment instruments have emerged that are largely or wholly electronic. These electronic payment systems are faster and more efficient but increase the risk of fraud, money laundering, and operational disruption.
Emerging payment systems also increase the use of nonbank third parties which will increase risk factors and weak points in the process. Management of retail payments risk is increasingly difficult and requires diligent oversight of both internal and third-party providers.
The objective is to better understand the breadth of retail payments compliance issues and how to create a framework for reviewing both internal and third-party responsibilities for a successful audit. The primary objectives this session are to evaluate the effectiveness of the internal controls and risk management processes implemented by the financial institution and/or the technology service provider.
This training will outline and discuss the growing market of electronic payments. We will talk about risk profiles and the quality of risk management practices as required by internal and external auditors.
- Assessing the risk level in consumer payments
- Establishing the scope and objectives
- Assessing the oversight quality
- Risk management and support for bank card issuance
- Quality of policies, procedures, and limits
- Risk assessment and support for:
- EFT/POS processing
- ACH processing
- Emerging technologies
- Conclusion
- Financial Officers
- Risk Officers
- Internal Auditors
- Operational Risk Managers
- Business Managers
- Controllers/Comptrollers
- Accounting Managers and Staff
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