ACH Risk Assessments

As a business leader, what keeps you up at night? For most, that answer lies in preventing potential pitfalls. For example, have you ever gone home and had this awful feeling that you forgot to perform a critical payments process? If you did, would it go undetected because there aren't dual controls in place?

When it comes to ACH payments, a Risk Assessment addresses those sleeping giants—the ones that, if left untended, can be disastrous to your organization. But just what are those problem areas? With decades of payments experience, OAS combines our ACH knowledge with a deep understanding of your unique business to strengthen overall business operations and minimize organizational risk. We invest in understanding who our customers are and their industry risks.

The Third-Party Sender Roles & Responsibilities Rule clarifies that Third-Party Senders and Nested Third-Party Senders must conduct a risk assessment by September 30, 2022 with a 6-month grace period until March 30, 2023.

Our ACH Risk Assessment solution designed specifically for Payroll Service Bureaus was created in collaboration with a team of Payroll Service Bureaus and based on observations from hundreds of audits. This user-friendly Risk Assessment is complete with a interactive Risk Library and enhanced Risk Workbook. The Risk Library walks the user through each major risk category with case studies, current threats, downloadable resources, and a list of common risks. The Risk Library is paired with the Risk Assessment Workbook which provides a simple-to-use template enriched with auto-populated risk ratings to take the guesswork out of the evaluation process.

If the Risk Assessment solution for Payroll Service Bureaus isn’t right for you,  contact us to discuss a Full-Service Risk Assessment tailored specifically to your industry and unique business needs.

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