Consumer E-Payments - Complying with Auditor's Standards: Part I – Identifying and Understanding the Risks

Overview:

Financial institutions accept, collect, and process a variety of payment instruments and participate in clearing and settlement systems. In some cases, financial institutions perform all of these tasks. However, independent third parties are increasingly involved in this process, introducing new risk management approach that affect the security of financial institutions.

Retail payment systems expose financial institutions to numerous risks, including legal, compliance, strategic, operational, credit, and liquidity. Depending on the complexity of retail payment system activity, the scope of the examination may require an integrated team approach that includes the knowledge, skills, and expertise of IT, credit, and compliance specialists.

Why Should You Attend:

The primary objectives of this webinar are to evaluate the effectiveness of the internal controls and risk management processes implemented by the financial institution and/or the technology service provider. 

This webinar will outline and discuss the growing market of electronic payments. We will talk about risk profiles and the quality of risk management practices as required from internal and external auditors.

Emerging payment systems also increase the use of nonbank third parties which will increase risk factors and weak points in the process. Management of retail payments risk is increasingly difficult and requires diligent oversight of both internal and third-party providers.

Areas Covered in this Webinar:

Assessing the risk level in consumer payments

Establishing the scope and objectives 

Assessing the oversight quality

Quality of policies, procedures, and limits

Learning Objectives:

Risk assessment and support for:

EFT/POS systems processing

ACH payment processing

Emerging technologies

Risk management training and support for bank card issuance

Who Will Benefit:

Financial Officers

Risk Officers

Internal Auditors

Operational Risk Managers

Business Managers

Controllers/Comptrollers

Accounting Managers and Staff

Speaker Profile:

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.

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