Payment-related services continue to increase in complexity as we add more service offerings and bring a variety of third parties to the transactions. As a financial institution, do you know who your Third-Party Senders are? Do you know if they originate for any Nested Third-Party Senders? Third-Party Senders and Nested Third-Party Senders expose Originating Depository Financial Institutions (ODFIs) to a greater level of risk than a typical Originator. Institutions must define their stance and governance related to these parties and establish appropriate business practices that ensure that risk is properly managed . In addition, Nacha has specific requirements to which ODFIs, Third-Party Senders, and Nested Third-Party Senders must adhere. In this session, Mark Dixon and Mary Mumper of NEACH will explore how an institution can develop an effective risk management program related to Third-Party Senders. Specifically, we will define the various third parties and explore best practices for identifying them. We will also address Nacha requirements for your institution, Third-Party Senders, and Nested Third-Party Senders. We will then examine how your financial institution can manage the increased risk posed by Third-Party Senders and Nested Third-Party Senders through effective risk management program development, including elements related to policy, client onboarding, and ongoing monitoring processes.
Mark Dixon, AAP, APRP, NCP, NEACH
Mark Dixon is the Vice President of Education at NEACH and an Advisor for its subsidiary, NEACH Payments Group (NPG). He is based in Peyton, CO, and is primarily focused on developing and refining NEACH’s educational offerings as well as serving as an instructor for delivering education.
Mark is a futurist and strategist with a passion for technology, strategy, and innovation as they relate to the ever-evolving payment landscape.
Mark has worked for multiple financial institutions, including banks, credit unions, bank holding companies, and two Payment Associations (Wespay and NEACH). Having served in capacities such as sales, consulting, education, operations, electronic banking, and IT operations, Mark has a wide breadth of knowledge and experience.
Mark completed his MBA and Bachelor of Business Administration degrees from Southern New Hampshire University, where he concentrated on the study of Business Intelligence, Organizational Leadership, and Information Technology. He is currently working on a Doctor of Business Administration program at Capella University, where he is focused on Strategy and Innovation in business. He also serves as a business core part-time adjunct instructor for Southern New Hampshire University.
Mark has been certified by Nacha as an Accredited ACH Professional since 2015 and an Accredited Payments Risk Professional since 2019. He was certified by ECCHO as a National Check Professional (NCP) in 2018 and is a Certified Trainer for the National Check Professional Certification Exam.
Mary Mumper-Morrison, AAP, APRP, CAMS, NEACH
Mary Mumper-Morrison serves as the Director of Education for NEACH and Lead Advisor of its subsidiary, NEACH Payments Group (NPG). She is based in New Haven, Connecticut and is focused primarily on addressing compliance and risk issues.
Mary has worked in banking for over 20 years. She began her career as an Item Processing clerk at First Chicago NBD; and has since worked as a Proof and Deposit Operations Supervisor/Manager at various community banks in Michigan. Most recently Mary worked in the fintech/banking-as-service sector, first as Vice President of Banking Operations and for the last three years as Vice President & Lead Auditor.
Mary holds a Master’s Degree in Organizational Leadership from Southern New Hampshire University. She has been certified by NACHA as an Accredited ACH Professional since 2011 and received her CAMS certification in 2020.