2026 EDITION | INSTANT DIGITAL DOWNLOAD
FedNow® Receive-Only Risk Assessment
The examiner-ready, auto-scoring risk assessment built specifically for receive-only FedNow participants — 52 risk items across 7 domains, verified line-by-line against the FedNow Service Operating Procedures (v3.6) and Operating Circular 8 (April 1, 2026).
Get the Risk Assessment ā€” $799Built for receive-only banks and credit unions
Your institution receives FedNow payments but does not originate them — so a generic instant-payments risk assessment overstates your risk profile and wastes your team's time. This assessment covers exactly what a receive-only participant must manage: 24x7x365 receipt operations, liquidity readiness, returns and exception handling, BSA/AML and OFAC screening on inbound credits, and the FSOP and OC8 obligations that apply to your participation type — nothing you don't need.
What's inside
Protected Excel Workbook
Auto-scoring risk register with 52 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.
52 risk items. 7 domains. Zero blank-page syndrome.
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 full receive-only obligation set:
- Operational — 24x7 availability, staffing, returns and exception processing
- Compliance / BSA-AML — inbound screening, SAR/CTR, OFAC sanctions
- Fraud Risk Management — inbound fraud typologies, money-mule detection, reporting
- Technology & Cybersecurity — connectivity, message processing, resilience
- Third-Party Risk — core processors, TPSPs, and vendor oversight
- Liquidity & Settlement — master account readiness and monitoring
- Regulatory / Legal — FSOP, OC8, Regulation J, and consumer-protection exposure
Frequently asked questions
What exactly do I receive?
Who is licensed to use it?
Is it current with the rules?
Can I edit the workbook?
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® Receive-Only Audit covers 94 requirements across 12 sections, 38 rated High risk, each cited to Operating Circular 8 and Operating Procedures v3.6. It includes the workpapers, a sample report and an item-by-item guide with commentary on every requirement.
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 Receive-Only Audit ā€” $799Be ready before your examiner asks
Download the FedNow® Receive-Only Risk Assessment and walk into your next exam with a completed, defensible, board-approved risk assessment.
Get Instant Access ā€” $799This 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)