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A financial institution’s policies and procedures should reflect what the institution is doing to comply with regulatory standards and payment rules, plus illustrate the Board of Director’s expectations. This valuable tool is designed to assist financial institutions with assessing their compliance with Section 1.6 of the ACH Rules, frequently referred to as the ACH Security Framework Rule. This checklist helps an institution
assess compliance with the Rule by providing a list of policies and
procedures to review, plus provides areas for notes of the assessment. The Checklist includes industry-recognized security standards and guidance, along with defines terms. This valuable assessment tool enhances an institution’s annual ACH risk assessment process and provides institutions with a way to document compliance for regulators. (2018)