INTRODUCTION
Banks accept, collect and process a variety of payment instruments and take part in various clearing and settlement systems. These systems are not always provided within the bank itself, but may be offered by outside parties or even the central bank. This intensive two-day course helps you navigate through the complex world of retail payments and lets you develop an effective risk management regimen in this vital banking area. Reviews the ongoing efforts to reduce the risks inherent in the world’s principal wholesale payment systems.
Course Objectives
- identify and understand the range of risks -To ensure operators and participants understand their individual risks and their collective risk of loss in confidence in the integrity of the wholesale payment system
- Establish endpoint security requirements – To identify and address any gaps for prevention, detection, and response
- Promote adherence – To provide incentives and confidence that endpoint requirements are being met
- Provide and use info and tools to improve prevention and detection – To enhance current capabilities of operators and participants
- Have a sound understanding of the payments systems, processes and instruments
- Explore clearing and settlements processes
- Be able to identify and mitigate risks related to retail payments
- Respond in a timely way to potential fraud-To ensure participants and operators know who to contact and how each should respond
- Support ongoing education, awareness, and information sharing
– To promote operator and participant collaboration on procedures, processes, and resources - Learn, evolve, and coordinate-To monitor and to keep up with ever-changing risks