Have you completed your required RTP Compliance Audit?
Is your financial institution in compliance with TCH requirement that all participating financial institutions conduct an annual self-audit at least annually?
The RTP Operating Rules IX.A.2. state:
A Participant shall conduct self-audits, at least once annually, to audit its compliance with the RTP Participation Rules and these RTP Operating Rules and shall complete the Self-Audit Form to certify to TCH that it has completed the self-audit and that any material findings of non-compliance, as determined by the Participant’s audit standards or risk management framework, were reported to the Participant’s audit committee or equivalent body responsible for overseeing the Participant’s internal controls. TCH will make available the Self-Audit Form to Participants.
Experienced, accredited payments experts can perform your RTP Compliance Audit at a competitive rate! The scope of our audit is continually enhanced and is based on the RTP Participation Rules and RTP Operating Rules. We also assess the efficiency and effectiveness of written policies and procedures as well as adherence to OFAC screening requirements.
At the conclusion of your RTP Compliance Audit, we provide you with:
- an informative, detailed report specifying areas where you did or did not meet the criteria for a successful audit;
- procedures and controls identified as needing strengthening to reduce risks;
- a summary of all findings; and
- recommended improvement opportunities.