Program Overview
This course will start with a brief introduction of payments and the importance of strong risk management practices. It will then shift to addressing each payment channel in detail including: ACH (including same-day), Checks (including Remote Deposit Capture), Cards, Wire Transfers (including Fedwire and Chips), Mobile Services, the SWIFT network, emerging payment channels, online banking products and services, Real Time Payments, and virtual currencies. The discussions will focus on the examiner role, associated risk, risk assessments, risk management program, applicable rules and regulations, audit, and complexity.
Key Objectives
Upon completion of this class, in relation to payment channel, participants will be able to:
- Describe an institution’s complexity based on their activity within each payment channel discussed,
- Identify an institution’s level of risk, adequacy of controls, and potential threats to the financial institution, and
- Discuss with management all payment channels, internal controls, and potential risk related to each.
Instructional Format
Facilitated classroom discussion and lectures
Duration
Four days
Level
Intermediate
Target Audience
Examiners or ITEAs who will lead or participate on level B and A examinations.
This course is open to appropriate staff of the FDIC and partner government regulatory agencies. This course is not open to the public or staff of private banks.
Prerequisites
Participant should have attended ITEC and/or the former ACH and Payment Systems Risk Management (102).
Pre-Course Assignment
None
Special Requirements
None
Post Course Feedback
None
Credits
None
More Information
For more information concerning course content and administration, please e-mail cuelp@fdic.gov.