Payments and Settlements

Course Number: ABA

Course Code: ABA

Covers specific areas of payment and settlement risk management and effectively managing common types of issues. Addresses common challenges with exception items, closed accounts, restricted accounts, reclamations, garnishments, and seizure orders. Describes areas found to be of higher risk while managing payment returns involving various mobile channels, ACH, wires and others.

Reviewed: July 2018 (no changes necessary)

What You’ll Learn
After successfully completing this course, you will be able to:

-Identify common risks in payments and settlements
-Describe payments and settlement risk controls and available resources
-Describe common settlement issues and how to manage them
-Explain guidelines for managing payment returns

Audience: Risk and internal audit professionals; third-party service providers and state/federal examiners; first-line risk and operations managers with responsibilities for operational risk management, including implementing, managing, monitoring, reporting, auditing and/or supporting an effective operational risk management program, policies and procedures.?

Prerequisites: None

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