Conference on Credit Unions 2019

Oct 21, 2019 ‐ Oct 23, 2019

Yes, calendar year-end credit unions have until the proposed effective date of Jan. 1, 2023 to adopt CECL. However, that does not mean you should delay your implementation activities. Through these sessions and more, we'll show you the path to success.

• Cybersecurity
• Liquidity Risk Management
• Understanding Executive Benefits
• Predictive Analytics

The Association is dedicated to removing barriers to the accountancy profession and ensuring that all accountancy professionals and other members of the public with an interest in the profession or joining the profession, including those with disabilities, have access to the profession and the Association’s website, educational materials, products, and services. The Association is committed to making professional learning accessible to all product users. This commitment is maintained in accordance with applicable law. For additional information, please refer to the Association’s Website Accessibility Policy. As part of this commitment, this product is closed-captioned. For additional accommodation requests, please contact adaaccessibility@aicpa-cima.com and indicate the product that you are interested in (title, etc.) and the requested accommodation(s): Audio/Visual/Other. A member of our team will be in contact with you promptly to make sure we meet your needs appropriately. 

CECL Methodologies, Real World Examples

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CECL Methodologies, Real World Examples

Oct 21, 2019 8:30am ‐ Oct 21, 2019 11:15am

Identification: CU19101

Operation Minutes: 150

This session will provide detailed examples of data aggregation, specific long-term and short-term forecast models and how to forecast different models. The session will also discuss the use of credit quality indicators through out the CECL modeling, monitoring and disclosure process.

• The use of credit quality indicators in data aggregation, monitoring and forecasting.
• The use of regression modeling to support reasonable and supportable forecasts.
• The use of over the life-cycle forecasts in models including examples of Discounted cash flow and probability of default model.
• The use of regression models to forecast and calculate and allowance with examples.
• The use of short term forecast (reversion) models with example model calculations and how to forecast these models.
• The pros and cons of each model including volatility.

• Michael Umscheid, CPA, CEO, ARCSys

The Strategic Shift of ALCO

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The Strategic Shift of ALCO

Oct 21, 2019 8:30am ‐ Oct 21, 2019 11:15am

Identification: CU19102

Operation Minutes: 150

Do you dread your ALCO meetings? Many say that they do, but why? A strong ALCO is one of the keys for a high-performing organization. ALCO discussions should be engaging and forward-looking, where the participants see opportunities and challenges from different angles. The result should lead to more ideas, agility, and better solutions for the credit union. Creating a shift to a more strategic ALCO that people are excited about takes time. Julie will be sharing stories of the journey that her credit union has been on to create this shift. Additionally, Rob will provide insights and lessons learned from experiences with hundreds of credit unions.

Among the many take-aways, there will be specific focus on:

• Identifying key characteristics of a strategic ALCO
  
• Ideas on how to break down silos in the organization so we better understand our interconnectedness
  
• How to improve communication of potentially complicated numbers to help other decision-makers
  
• Every decision has trade-offs, how do we make it so the trade-offs are better understood?

• Shifting from historical presentations to forward-thinking, strategic discussions
• Breaking down Silos
• Linking Short and Long Term Strategies

• Rob Johnson, President/Principal, c. myers
• Julie Renderos, CPA, CCUE, CUDE, EVP/CFO, Suncoast Credit Union

Welcome & Introduction | Credit Union Issues & Opportunities

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Welcome & Introduction | Credit Union Issues & Opportunities

Oct 21, 2019 1:00pm ‐ Oct 21, 2019 2:00pm

Identification: CU1901

Operation Minutes: 50

Credit unions' impact on markets and members has increased significantly over the past decade, but the environment is changing. New competitors, a changing economic environment and rising consumer expectations are just a few of the challenges ahead. How can credit unions continue their momentum in the coming years?

• Learn current industry trends
• Understand the key differentiator of credit unions

• Jay Johnson, Chief Collaboration Officer, Callahan & Associates

Economic Update

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Economic Update

Oct 21, 2019 4:20pm ‐ Oct 21, 2019 5:35pm

Identification: CU1904

Operation Minutes: 75

Housing is expected to provide an economic cushion to the overall economy.

• Discuss late cycle macroeconomic developments in the longest post WWII expansion
• Demonstrate that despite improved affordability prospects, supply constraints will continue to limit the responsiveness of buyers
• Show the effect of U.S. demographic shifts on housing demand
• Show how the above topics lead to a moderate outlook for housing growth

• Douglas G. Duncan, SVP & Chief Economist, Fannie Mae

Audit Report Delivery, Compliance, and More with RIVIO Clearinghouse

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Audit Report Delivery, Compliance, and More with RIVIO Clearinghouse

Oct 22, 2019 7:00am ‐ Oct 22, 2019 7:50am

Identification: CU19201

Operation Minutes: 50

Audited financials are critical today, especially for the credit union-CPA firm-regulator ecosystem. In an era of increasing fraud and cyber-risk, how these sensitive documents are exchanged and delivered has never been more important.

Join us for a discussion of audit report delivery evolution and an up-close look at RIVIO Clearinghouse, the online platform designed to meet the need for accurate, source-verified financial information exchange between CPA firms, credit unions (and other private businesses), and third party users of audited financial and other types of financial documents.

During the session, we will share an overview of the RIVIO workflow for CPA Firms, Credit Unions and NCUA Examiners, and discuss:

• Efficiency Between Audit Report Wrap Up and Delivery
• One-step Withdrawals/Recalls and Maintaining Control Over Issued Reports
• Issuing and Responding to Document Requests

• Shawn W. Martin, MBA, Sales Engineer, Service Delivery Team, CPA.com
• Steven Menges, Product Team, Assurance, CPA.com

Announcements and Introduction | NCUA Update

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Announcements and Introduction | NCUA Update

Oct 22, 2019 7:55am ‐ Oct 22, 2019 9:15am

Identification: CU1905

Operation Minutes: 75

The session will provide an update on priorities for the NCUA and emerging issues for the credit union and financial services industry.

• Gain knowledge on regulatory and supervisory requirements.
• Understand the areas of emerging and strategic risk facing your financial institutions and to develop knowledge that can improved strategic management of the organization, improve efficiency and compliance with applicable laws and regulations.

• Scott Neat, Associate Director, Office of Examination & Insurance, NCUA

Auditing Standards Update

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Auditing Standards Update

Oct 22, 2019 11:10am ‐ Oct 22, 2019 12:25pm

Identification: CU1907

Operation Minutes: 75

The AICPA Chief Auditor will discuss recently issued standards for audits (SASs) and attestation engagements (SSAEs). The discussion will also include the ASB’s active agendas including ongoing efforts to enhance the standard setters’ outreach to stakeholders regarding proposed standards and post-implementation reviews of issued standards. 

This session will feature a discussion of the current status of the ASB’s projects to: 

a) Revise and expand the auditor’s report,
b) Enhance auditor attention on financial statement disclosures as part of the risk assessment process and throughout the audit,
c) Revise the attestation standards to enable a practitioner to perform an examination, review, or agreed-upon procedures engagement without having to request a written assertion from the responsible party,
d) Revise the auditor’s performance and reporting responsibilities with respect to ERISA audits,
e) Explore potential changes to the audit evidence standard; and convergence efforts on estimates and auditor risk assessment.

• Obtain an understanding of the standards recently issued by the auditing standards board
• Obtain an understanding of projects currently underway at the auditing standards board and in the profession overall

• Bob Dohrer, CPA , CGMA, Chief Auditor, AICPA

M&A Strategy for Bank Acquisitions

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M&A Strategy for Bank Acquisitions

Oct 22, 2019 11:10am ‐ Oct 22, 2019 12:25pm

Identification: CU1908

Operation Minutes: 75

Overview of the strategic implications of a credit union acquiring a bank as well as the strategic implications of a bank selling to a credit union including lessons learned from closed transactions.

• Assist a credit union CFO determine if the adoption of a bank acquisition strategy should be a part of his/her credit union's strategic plan.
• Gain some understanding of evaluation process.

• Dennis Holthaus, Managing Director, Skyway Capital Markets
• John Murnane, Doeren Mayhew

Hot Topics in Regulatory Compliance

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Hot Topics in Regulatory Compliance

Oct 22, 2019 11:10am ‐ Oct 22, 2019 12:25pm

Identification: CU1909

Operation Minutes: 75

In this session we discuss the current state of regulatory compliance for credit unions. We are in the beginning stages of a significant transition for the primary rule maker for credit unions - the CFPB. We explore how this impacts credit union compliance efforts and the fallout for boots-on-the-ground examinations. We will point out several compliance areas examiners are focusing on and how credit unions can best position themselves to have successful exams. We also tackle compliance issues that are targets for lawsuits and enforcement actions.

• Understand recent compliance pitfalls for credit unions.
• Learn how to best position your credit union for compliance success.

• Justin Robinson, JD, Managing Director , CLA

Cybersecurity

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Cybersecurity

Oct 22, 2019 1:15pm ‐ Oct 22, 2019 2:30pm

Identification: CU1910

Operation Minutes: 75

• Francis Tam, CPA, CISM, CISA, CITP, CRISC, PCIP, PCI QSA, Partner, Moss Adams LLP