Tom Houston, T. Houston Technology Group, has published “Understanding the FFIEC Risk Management for Remote Deposit Capture - Video,” an important training resource for Operations Managers, Compliance Officers, Cash Management Contact Officers and ACH employees that need to understand the new rules for Risk Management of Remote Deposit Capture.

According to Houston, “As we go through this Guidance, you will get a strong sense of the concerns the FFIEC had about Remote Capture and the requirement for ensuring that customers are properly trained and implement a risk management program.”

It is important to note that this Guidance is applicable, by reference, to Mobile Banking and ACH. This is critical because it signals the areas and types of risks the agencies are focused on when technology that is operated away from a financial institution.

ACH has a long and successful history of operations and controls, but Mobile Banking and now Remote Capture, are relatively new and will require more stringent oversight. These concerns may manifest in requiring evidence of controls used during future audits, policies, risk assessments, customer underwriting procedures, etc.

Houston stated the concerns are valid and explained, “The Agencies fully understand the potential illegal use of these technologies for money laundering and support of terrorist networks.”

The VIDEO was developed to help employees at all levels understand the new requirements that will guide future audits by the interagencies. The VIDEO is divided into segments that allow employees to participate in training on their schedule. For ease of reference, the VIDEO covers all of the FFIEC Guidelines in the same order as the Risk Management document:

• Background and Purpose
• Risk Management: Risk Assessment
• Legal and Compliance Risks
• Operational Risk
• Risk Management: Mitigation and Controls
• Customer Due Diligence and Suitability
• Vendor Due Diligence and Suitability
• Training for Customers
• Contracts and Agreements
• Business Continuity
• Other Mitigation and Control Considerations
• Risk Management: Measuring and Monitoring

Houston said, “One of the major benefits of using a VIDEO is to allow employees to schedule training when it is most convenient for them.”

Value Priced at only $39.95 + $4.95 Shipping and Handling.