Posted January 14, 2015
HERNDON, Va., NACHA — The Electronic Payments Association today announced the election of new officers and the addition of five new and two re-elected members to its Board of Directors. The Board consists of 19 voting members representing a diverse set of depository financial institutions of all sizes and types that support and warrant the payments on the ACH Network.
“We are pleased to welcome the new officers and members of the Board, which is tasked with providing guidance and addressing issues of strategic significance to the ACH Network and NACHA,” said Janet O. Estep, NACHA president and CEO. “We are looking forward to working together to continue to evolve the ACH Network to meet user needs of today and build the innovations of tomorrow.”
The elected officers will serve a two-year term, effective immediately:
“It is an honor to be elected Chairperson of this esteemed group of payments industry professionals who are committed to providing visionary leadership to ensure the continued vibrancy of the ACH Network, NACHA and its programs,” said Russell K. Oatman, who previously served as NACHA secretary/treasurer. “I’m excited about the work ahead of us to grow the use and capabilities of the ACH Network in ways that deliver game-changing opportunities for end users and financial institutions.”
Oatman serves as senior vice president at First National Bank of Omaha where he leads the Corporate Treasury Services Group. He oversees business and product development for domestic and international payments solutions, customer implementations and customer care. He is a former chairperson of the EPCOR board, serves on the Federal Reserve Payments Advisory Board for the Tenth Federal Reserve District, and is active in other industry groups and committees. Oatman joined the NACHA Board as a member in January 2011.
Colleen J. Taylor, executive vice president of Treasury Management and Enterprise Payments at Capital One, was elected to a second term as NACHA Vice Chairperson. At Capital One, Taylor is responsible for managing a geographically diverse group of Treasury Management teams that provide product development, management, sales, implementation and servicing in support of the bank’s real estate, middle market, small business and private banking groups. In addition, she works with all lines of business to ensure the development of coordinated payments strategies across the company and the continued execution of an effective payments governance and risk management framework. Taylor began her tenure on the NACHA Board in 2013.
Craig Vaream, managing director and product executive at J.P. Morgan’s Treasury Services, was elected NACHA’s secretary/treasurer. At J.P. Morgan, Vaream manages product development and strategy, pricing, profitability and distribution for the firm’s receivables processing and electronic payments businesses that service corporations, financial institutions and public sector entities. Vaream joined the NACHA Board in 2013.
In addition to the newly elected officers, the Board welcomes five new and two re-elected members who will serve three-year terms, effective immediately:
These individuals join the existing members of the Board, including:
The non-voting, advisory representatives of the ACH Operators to the Board are:
The Board of Directors oversees the governance and administration of NACHA and addresses topics of strategic significance to NACHA and the ACH Network.
About NACHA — The Electronic Payments Association
Since 1974, NACHA – The Electronic Payments Association has served as trustee of the ACH Network, managing the development, administration and rules for the payment network that universally connects all 12,000 financial institutions in the U.S. The Network, which moves money and information directly from one bank account to another, supports more than 90 percent of the total value of all electronic payments in the U.S. Through its collaborative, self-governing model, education, and inclusive engagement of ACH Network participants, NACHA facilitates the expansion and diversification of electronic payments, supporting Direct Deposit and Direct Payment via ACH transactions, including ACH credit and debit payments, recurring and one-time payments; government, consumer and business transactions; international payments, and payments plus payment-related information. Through NACHA’s expertise and leadership, the ACH Network is now one of the largest, safest, and most reliable systems in the world, creating value and enabling innovation for all participants.