2026 EDITION | INSTANT DIGITAL DOWNLOAD
FedNow® Correspondent & Settlement-Only Risk Assessment
The examiner-ready, auto-scoring risk assessment built for bankers' banks, corporate credit unions, and correspondents providing FedNow settlement services to respondents — 65 risk items across 7 domains, verified against the FedNow Service Operating Procedures (v3.6) and Operating Circular 8 (April 1, 2026).
Get the Risk Assessment ā€” $1,199Built for correspondents and settlement providers
Settling FedNow activity for respondent institutions is a different risk business than participating for your own customers: respondent onboarding and oversight, settlement-account exposure, 24x7 liquidity provision, and concentration risk across your respondent base. Generic participant assessments miss all of it. This assessment was built specifically for the correspondent and settlement-only role.
What's inside
Protected Excel Workbook
Auto-scoring risk register with 65 prewritten risk items, likelihood / impact / control-effectiveness scoring, controls checklist, live summary dashboard, and a board-ready executive report. Formulas and prefilled content are locked so the methodology stays intact.
Companion User Guide (PDF)
Step-by-step instructions, scoring methodology, and item-by-item context with citations to the FedNow Service Operating Procedures and Operating Circular 8 — so every score you enter can be defended in front of an examiner.
Examiner-Ready Outputs
Heat-mapped domain dashboard, completion tracking, residual-risk ratings, and an executive report with prior-year trend fields — drop it straight into your board packet or exam response.
65 risk items. 7 domains. The correspondent role, end to end.
Every risk item is prewritten with a description, regulatory citation, and suggested controls — your team only scores likelihood, impact, and control effectiveness. Coverage spans the correspondent and settlement-only obligation set:
- Operational — settlement processing, respondent onboarding, 24x7 operations
- Compliance / BSA-AML — respondent-level AML oversight, SAR/CTR, OFAC sanctions
- Fraud Risk Management — fraud flowing through respondent activity, reporting obligations
- Technology & Cybersecurity — connectivity, message processing, resilience
- Third-Party / Respondent Risk — respondent due diligence, agreements, and concentration
- Liquidity & Settlement — settlement-account funding, exposure limits, monitoring
- Regulatory / Legal — FSOP, OC8, Regulation J, and correspondent-specific exposure
Frequently asked questions
What exactly do I receive?
We also participate for our own customers ā€” is this the right version?
Is it current with the rules?
Who is licensed to use it?
The assessment scores your risk. The audit proves your controls work.
A risk assessment is prospective: it identifies exposure and scores it. An audit is retrospective: it tests, against evidence, whether the controls you took credit for actually operated. Examiners increasingly expect to see both, and an institution holding only one has a gap in either direction.
The FedNow® Correspondent Audit covers 70 requirements across 11 sections, 38 of them rated High risk — 54 percent, the densest concentration of any edition. It tests settlement account governance, Net Send Limit administration including aggregate exposure against capacity, Respondent oversight, and continuous intraday liquidity.
Findings from the audit should feed your next assessment cycle, because a control that failed testing should not keep being scored as effective.
Add the Correspondent Audit ā€” $1,199Be ready before your examiner asks
Download the FedNow® Correspondent & Settlement-Only Risk Assessment and walk into your next exam with a completed, defensible, board-approved risk assessment.
Get Instant Access ā€” $1,199This product is an educational self-assessment tool provided by Payments Professor. It does not constitute legal, regulatory, or compliance advice, and completing it does not guarantee compliance or examination outcomes. Institutions should consult their own counsel and compliance officers. FedNow® is a registered service mark of the Federal Reserve Banks. Payments Professor is not affiliated with, sponsored by, or endorsed by the Federal Reserve.
Go beyond the assessment ā€” save 50% on the certificate
The risk assessment documents your compliance — The FedNow® Certificate Series trains your team. Eight one-hour classes, quizzes, and a certificate of completion. As a risk assessment customer, add it for $249.50 — 50% off.
Add the FedNowĀ® Certificate ā€” $249.50 (50% Off)