The "Zeroing Out Monetary Benefits Improperly Expended Act," or ZOMBIE Act, amends the Payment Integrity Information Act of 2019 to significantly enhance executive agencies' focus on preventing improper payments that cause financial loss to the government. It redefines "financial loss to the Government" to specifically exclude payments that are correct in amount and recipient but fail certain administrative procedures, thereby narrowing the scope of what constitutes a reportable improper payment. This change directs agency efforts towards actual monetary losses rather than procedural errors. The bill mandates that the Secretary of the Treasury develop comprehensive risk assessment guidance within one year, including formulas for estimating financial loss and incorporating best practices from documents like the GAO's "Framework for Managing Fraud Risks in Federal Programs." Executive agencies must then use this guidance to conduct risk assessments for all programs, both existing and newly authorized, before disbursing federal funds. These assessments are required on an ongoing basis, but no less frequently than every three years, with a specific emphasis on identifying fraud that leads to financial loss. Reporting requirements are also updated, shifting from annual reports to a minimum of once every three years, but demanding more detailed information. Agencies must now publish a prioritized listing of identified risks and the corresponding financial and administrative controls implemented to mitigate them. A key provision requires agencies to utilize tools like the Do Not Pay Initiative or other Treasury systems to prevent fraud and improper payments before making eligibility determinations or issuing payments. Furthermore, the legislation strengthens agency accountability by requiring annual meetings between designated senior agency officials, OMB, Treasury, agency Inspectors General, and the Pandemic Response Accountability Committee. These meetings will focus on actions taken and planned to prevent improper payments that result in financial loss and to mitigate fraud. Agencies must also report on their progress in implementing fraud risk management frameworks, identifying specific fraud risks across various payment types, and establishing strategies for prevention, detection, and response.