Action Requested

Direct FI Members, Regional Payments Associations, and ACH Operators are invited to submit nominations of individuals to serve on the Risk Management Advisory Group (RMAG) for two years beginning November 1, 2009. Direct FI Members and ACH Operators may nominate employees of their organizations. Regional Payments Associations may nominate employees of their associations and of their financial institution members.

 

Nominations must be submitted by close of business on Monday, August 31, 2009 to Cathy McNickle at cmicnickle@nacha.org or 703-787-0996 (fax). A nomination forma can be found below.

 

Executive Summary

RMAG is dedicated to establishing best practices for risk management and developing proposals necessary to assure the ongoing strength and stability in the ACH Network. With this memo, NACHA invites Direct FI Members, Regional Payments Associations, and ACH Operators to submit nominations of individuals appropriate to serve on RMAG for two years beginning November 1, 2009. NACHA encourages the nomination of senior-level volunteers with a broad background in payments to include check, cards, and other instruments in addition to solid experience in ACH payments.

 

RMAG’s achievements include significant contributions to the NACHA Rule Making Process and ACH risk management education and awareness. Some of RMAG’s achievements include:

Rulemaking Initiatives
Network Enforcement Rule
Company Name Identification Rule
Audit Enhancement Rule
Risk Management Assessments
Other Initiatives
Data Breach Policy
New ODFI Process
Originator Watch List (OWL)
Direct Access Registration
 

RMAG advises the NACHA Board of Directors and works with staff to guide and implement the risk management framework process. RMAG plays a vital role in developing and promulgating a comprehensive approach to Network risk management, working with NACHA staff and key industry stakeholders to produce best practices and rules recommendations, and to share findings with payments professionals across the industry.

 

RMAG meets by teleconference and holds periodic in-person meetings. The next in-person meeting is scheduled for October 14-15, 2009 at the NACHA offices in Herndon, VA. NACHA will invite both the outgoing and incoming RMAG participants to this meeting for the official hand-off. If you have questions about RMAG or the nomination process, please contact NACHA staff listed below.

A nomination form can be downloaded here.

 

Staff Contacts

Deborah Shaw, AAP, CTP

Managing Director, Network Enforcement & Risk Management

703-561-3919

dshaw@nacha.org

 

Jeanette A. Fox, AAP

Senior Director, Risk Investigations & Services

703-561-3914

jfox@nacha.org

 

Cathy McNickle

Manager, Risk Investigations & Services

703-561-3959

cmcnickle@nacha.org