| Wednesday, November 12, 2014 | |
| 5:00–6:30 p.m. | Reception Join other forum attendees at a reception and networking event in the Federal Reserve Bank of Atlanta’s Monetary Museum. |
| Thursday, November 13, 2014 | |
| 8:00 a.m. | Registration and breakfast |
| 9:00 | Welcome Deborah Shaw, AAP, CTP, Retail Payments Risk Expert, Retail Payments Risk Forum, Federal Reserve Bank of Atlanta |
| 9:05 | The Changing Nature of Third Parties Richard Oliver, Payments System Consultant The dynamic nature of payments in an Internet and mobile environment has led to third parties increasing the breadth and depth of their activities. Participants will hear about the evolution of the role of third parties from a payments expert who has for decades been on the forefront of changes in payments. |
| 9:40 | Interpreting Regulatory Guidance on Third-Party Processors Michael Benardo, Cyber Fraud and Financial Crimes Section Chief, Federal Deposit Insurance Corporation Kathleen Oldenborg, Director for Payments Risk Policy, Office of the Comptroller of the Currency Financial institutions and other financial service providers commonly provide products and services through arrangements with third parties. Regulators expect financial institutions to assess the adequacy of systems to manage the risks associated with their relationships with third-party payment processors. They must also be able to assess their management's ability to implement effective monitoring and reporting systems. Participants can discuss with regulators how to interpret issued guidance and incorporate guidance into an effective risk management program for third-party relationships. |
| 10:45 | Break |
| 11:00 | The Tangled Web of Third Parties: Understanding the Different Types of Third Parties Jessica Rios, AAP, Senior Vice President, Association Services, GACHA Deborah Shaw, AAP, CTP, Retail Payments Risk Expert, Retail Payments Risk Forum, Federal Reserve Bank of Atlanta The proliferation of third parties and their various roles in payment transactions have added to the complexity of third parties. All payment participants must clearly understand their role, financial institutions in particular because they act as gatekeepers to the payments networks, protecting consumers from unfair and deceptive practices. Participants in this interactive session will explore the different roles of third parties, along with know-your-customer and know-your-customer’s-customer due diligence processes. |
| Noon | Lunch |
| 1:00 | A Legal Look at Third-Party Case Studies Jonathan Rusch, Deputy Chief for Strategy and Policy, Fraud Section, Criminal Division, U.S. Department of Justice The role of nonbanks and third parties in the payments system has been in the banking news lately. Law enforcement officials will discuss their unique experiences with third parties that have entered into the legal system. Participants will learn what red flags to watch for and other valuable lessons from these case studies. |
| 2:15 | Break |
| 2:30 | Implementing Controls and Best Practices Steven Stone, Executive Vice President, Operations, United Bank—West Virginia When appropriately managed, third-party relationships can enhance competitiveness and diversification of goods and services. However, these third-party arrangements, absent adequate risk management controls, can expose companies to reputational, operational, and compliance risks. This session brings an experienced industry expert to lead a discussion on best practices for managing third-party processor relationships. |
| 3:25 | Closing remarks Jessica Rios, AAP, Senior Vice President, Association Services, GACHA |