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Certification: RTP® Specialist

Certification: RTP® Specialist

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Description

Ready to demonstrate your knowledge and understanding of the RTP® network? With the RTP® Specialist Certification from BankersHub in conjunction with the Payments Professor, learn what you need to know to help gain the understanding of the many different aspects of the RTP® network including the participant, the payments flow, settlement, reconciliation, audits, returns and more. Learn how it can benefit your organization, and advance your career and payments knowledge by obtaining this certificate.

This payments certification is broken into eight one-hour classes in three main areas. The 3 areas covered include:

  • RTP® Introduction, to help attendees gain an understanding of the basics of the RTP® network;
  • RTP® Intermediate, where we cover the risks, rules, and regulations, and;
  • RTP® Advanced, where we dig deeper into settlement, returns, rejects and audits.

Each module concludes with a quiz to test your knowledge of the material learned and to help you progress towards obtaining our RTP® Certification.

RTP® INTRODUCTION

RTP® 101: Are You Ready for it?
It's time to get real with what it is, how it works, what it's not, who controls and oversees the network, plus a brief introduction to the rules and regulations.

RTP® 102: Getting to Know Players, Participants, and Prerequisites
Understand more about the participants, who can use the network, and the prerequisites. RTP® uses messages to move money quickly, but what are those messages, and how are they used. Learn that and more!

RTP® 103: Payment Messages and Prefunding
Take a look into how real time payments move, what happens when and where to gain a level understanding of the funding and settlement process. Why is prefunding required and instruction on how it works help complete this class?

RTP® INTERMEDIATE

RTP® 201: Risks, Rules and Regulations - Part 1
Get introduced to the rules and regulations that apply to the RTP® network. Discover what and how the different banking industry organizations and regulators apply to the RTP® network. Included is a review of what the CFPB expects of a faster payments network and how RTP® satisfies those requirements.

RTP® 202: Risks, Rules and Regulations - Part 2
Dive into the risk management requirements and fraud controls required. Understanding the requirements and controls allows you to manage those risks more efficiently. Then gain an understanding of what the rules enforcement process is and what the consequences are for violating the RTP® rules.

RTP® ADVANCED

RTP® 301: Prefunding, Settlement and Reconciliation

How does settlement in the RTP® network work, and why must there be prefunding? What are the requirements for prefunding?

Understanding how settlement works in every payment network is critical to every institution that participates in the network. For RTP® to move as quickly as it does and to settle just as fast, there are certain requirements in place unique to the RTP® network. Then, have you wondered how you are going to balance an account that is always on and always available?

It's time for real time reconciliation as we investigate what is required for funds availability and balancing within the RTP® network.

  • When and how does settlement take place?
  • How do you fund the prefunded account?
  • What happens if the prefunded account runs out of money?
  • What happens if I have too much money in my account? How can I get it out?
  • Can we start with what is prefunding and how much is required, and by whom?
  • What is an RTP® Day?
  • What is a Reconciliation Window?
  • What reports will be available?


RTP® 401: Rejects and Request for Returns

What can you do once a real time payment is sent, and settlement has taken place? Is there any way to get your money back, or is it just a loss? If it is a loss, who must suffer the loss, you, or your account holder?

Real-time payments are the fastest payment option with immediate settlement available currently in the U.S. With this speed comes concerns for what to do when things go wrong, and they eventually will. What can you do to protect yourself and prepare for future disputes?

  • What is a Request for Return?
  • Are Receiving Participants Required to respond?
  • Is Indemnity allowed in the RTP® network?
  • What if the money is already gone?
  • What if we only have some of the money?
  • How are the funds to be returned?


RTP® 501: Audits

Getting started with any payments offering requires that the financial institution conduct a Risk Assessment. That is just the start for as you continually process a new or existing offering, the regulators and the RTP® network are going to expect that you conduct an annual audit.

  • What must be submitted?
  • What has the OCC had to say about RTP® Risk Assessments?
  • What are the network requirements, and how are they satisfied?
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