Seminar on U.S. Payments Industry: The Players, Trends, and Compliance Issues Faced training seminars presented by Global Compliance Panel register now on FindaSeminar.com

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Seminar on U.S. Payments Industry: The Players, Trends, and Compliance Issues Faced  

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Global Compliance Panel   

For:

CFO, CIO, CTO, Operations manager, Payments manager, Compliance Officer, Accountants and CPAs

Cost:   

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Seminar Summary:

The role of the compliance officer is changing because banks and corporations are struggling to serve many masters; some with similar goals and others with contradictory ones. Regulators, corporate clients, Boards of Directors, and shareholders are pulling them in their own directions. (see full course description)

 

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Training Course Syllabus:


U.S. Payments Industry: The Players, Trends, and Compliance Issues Faced

Overview:

The U.S. payments industry is struggling with an identity crisis. Regulatory authorities are demanding that the payments industry tighten their reins on the adherence to regulations and compliance mandates; technology is enabling payments providers, banks, and networks to venture further into new frontiers; practitioners are worried about security; and infrastructures are getting old and in need of repair or replacement. The task of replacing these systems is so daunting; no wonder no one wants to launch a project to overhaul the enterprise payments network within the business or within the banks.
The yearly payment volumes - B2B only - of processors such as CHIPS, Fedwire, SWIFT, and ACH are growing steadily, while checks are declining at a small single-digit rate.
Banks are spending significant dollars to upgrade existing solutions to support new SaaS and cloud-based integration interfaces to lower the cost associated with linking into corporate enterprise systems (both front office and back-office). Banks are also adding resources to staff to improve integration to the clients made with the goal of getting a leg up on the competition.
Businesses of all sizes are trying to send payments in the most cost-effective way and not necessarily through the bank- established channels. Corporate financial professionals want a conversion from paper to electronic payments, but only if they can get the payment information with the money transfer.
Why should you attend?

The role of the compliance officer is changing because banks and corporations are struggling to serve many masters; some with similar goals and others with contradictory ones. Regulators, corporate clients, Boards of Directors, and shareholders are pulling them in their own directions.
Fraud in some payment types are declining while others are picking up that slack. ACH, CHIPS, and Fedwire payments are taking the place of B2B checks but there exists compliance and fraud issues in all of them.

Areas Covered in the Session:

• Background of payment types, their uses, and differences
• Volumes by dollars and transaction trends
• How payments are viewed by different parties
• B2B payments and fraud issues
• Electronic payments and their issues
• Risk Assessment
• Consumer payment fraud issues
• People, Processes, and Programs
• Role of the compliance officer

Agenda:
Day 1 Schedule:

Lecture 1: Overview and Grounding
• Overview of payment types - both B2B and consumer payments
• Payment types that are declining and those that are growing:
• ACH, CHIPS, Fedwire, electronic payments, virtual currency, etc.
Lecture 2: Differing Views/Perspectives of Payments
• What is the customer΄s view of payments?
• What are their needs?
• View of compliance/rules/regulations
• What is the financial institution΄s view?
• How do they stay compliant?
• Rules and regulations the customer does not see
• Balancing customer service and compliance
• S.W.O.T. Analysis
• Examples:
• U.S. Bank, International bank, Non-bank, Virtual bank
Lecture 3: B2B Payments and the Compliance Issues They Face
• B2B check fraud and controls to put in place
• Key aspects of the role and key players involved B2B payments
• Regulatory agencies and their roles
• Role of the Compliance Officer
• Movement from paper to electronic and the issues that arise
• Non-bank payment channels
• Plans and polices to combat payment theft and related fraud
• Red flags to watch for and prevention methods
• Best practices for GRC
Lecture 4: Case Study and problem solving in small groups

Day 2 Schedule:

Lecture 1: Faster Payments
• The U.K. Payment System before the FPS
• United Kingdom Faster Payments Service (FPS) now
• FPS Costs and who bore them
• FPS Implementation
• Benefits of such a system
• Implications for the United States
• Value of the benefits versus costs of adopting the service?
• Impact on existing systems
• Future for existing systems
Lecture 2: Payment Risk Management and Fraud Control
• Payment System Risk Policy
• FFIEC Action Summary for Retail Payments
• Areas of Risk and Risk Assessment Activities
• Cross Channel Risk Mitigation
• People, Processes, and Products
• Is there an optimal organizational structure / for managing payments strategy?
• Are there best practices that apply to my institution?
• What are the hurdles in establishing an organization focused on the payments business?
• Are there common pitfalls?
Lecture 3: Consumer E-Payments - Complying with Auditor΄s Standards: Part I - Identifying and Understanding the Risks
• 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:
o EFT/POS processing
o ACH processing
o Emerging technologies
Lecture 4: Case Study and/or roundtable discussion of what we have learned

Speaker:

Ray Graber
President, Graber Associates LLC

Ray Graber has a deep and thorough understanding of banking, technology, and finance. His business experience includes banking technology research at TowerGroup; best practices internet security, policies, and procedures at FleetBoston Financial; wire transfer operations and product launches at Citibank and BankBoston; and treasury operations for a $325 million public company.
Mr. Graber was an adjunct professor at the Carroll School of Management at Boston College where he taught three graduate-level courses: E-Banking, the MBA Leadership Workshop, and Corporate Finance. Previously, he taught the Financial Management of Commercial Banks in the Boston College Carroll School of Management Masters of Finance Program and Working Capital Management and Cash Management at the Bentley College Graduate Business Program.
Ray holds a Bachelor of Arts degree in Mathematics and an MBA in Finance and MIS, both from Boston College.

Seminar Summary:

The role of the compliance officer is changing because banks and corporations are struggling to serve many masters; some with similar goals and others with contradictory ones. Regulators, corporate clients, Boards of Directors, and shareholders are pulling them in their own directions. (see full course description)

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