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. 


Sessions

LeasesLeases

Preview Available

Leases

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

Identification: CU1911

Operation Minutes : 75

This program focuses on identifying, analyzing and accounting for lease agreements in compliance with the new lease standard ASC 842. It also provides helpful hints, lessons learned and industry tips on navigating the nuances of the new lease standard as it applies to credit unions.

At the end of this session, attendees will be able to:

Learning Objectives:
  • Demonstrate knowledge of the new lease standard ASC 842, including how to: •Determine whether an arrangement contains a lease •Recognize the new recognition and measurement requirements •Identify the recognition criteria for finance and operating leases •Identify the presentation requirements •Understand the effective date for the new lease accounting standard
  • Utilize tips and lessons learned from those who have already implemented the lease standard to prepare for an effective and efficient lease assessment and implementation.
Speaker(s):
Standard: $49.00

Effective Liquidity Risk Management

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

Identification: CU1912

Operation Minutes : 75

This session will focus on the origins of liquidity risk and stress for financial institutions, knowing liquidity sources and uses, and provide some guidance on liquidity management into the future.

Learning Objectives:
  • Improved knowledge and understanding of liquidity stress events and how they impact financial institutions
  • Items to consider incorporating to improve the overall view and evaluation of liquidity risk
Speaker(s):
  • Mark DeBree, CFA, Managing Principal, Catalyst Strategic Solutions
Standard: $49.00

Auditing CECL: AICPA Practice Aid

Oct 22, 2019 2:40pm ‐ Oct 22, 2019 3:55pm

Identification: CU1913

Operation Minutes : 75

The purpose of this session is to summarize key provisions of FASB Accounting Standards Codification (ASC) 326, Financial Instruments — Credit Losses, and to address key considerations in auditing the allowance for credit losses related to loans under the ASU and disclosure considerations. This session is intended to provide auditors with information that may help them improve the effectiveness and efficiency of their audits and practices when auditing CECL. Preparers of financial statements might also find this helpful in developing their accounting estimates and the controls over the estimates. This session will highlight key areas within the auditing process, including obtaining an understanding of the entity, assessing the risks, identifying the controls relevant to the audit, designing an audit response, performing audit procedures, and evaluating the audit results, to name a few.

Learning Objective:
  • Gain a detailed understanding of implementation and audit considerations with respect to the new CECL standard
Speaker(s):
Standard: $49.00

UBIT and Tax Reform and Impact on Your CU

Oct 22, 2019 2:40pm ‐ Oct 22, 2019 3:55pm

Identification: CU1915

Operation Minutes : 75

Unrelated Business Income Tax concepts & revenue streams specific to credit unions for consideration Tax Reform impacts and application on credit unions, including: UBI siloing, NOL rule changes, new excise tax on excess compensation, new inclusion in UBI for qualified transportation benefits.

Learning Objectives:
  • Understanding 3-prong test for unrelated business income inclusion on Form 990-T, understanding unique product types and revenue streams for credit unions to consider in this analysis, and also how to reasonably allocate costs to offset the income.
  • Understanding the impact of tax reform and how your credit union can plan and manage tax liability and compliance requirements given the new provisions.
Speaker(s):
  • Danielle Tewes, CPA, Tax Senior Manager, National NFP Practice, Crowe LLP
Standard: $49.00

How Forensic Data Analytics Can Help Identify Fraud and Mitigate It’s Risks

Oct 22, 2019 4:25pm ‐ Oct 22, 2019 5:40pm

Identification: CU1916

Operation Minutes : 75

Fraud is difficult to identify, and forensic data analytics can often help.

This session will discuss how forensic data analytics can be used both proactivity and reactively to better identify fraud risk. It will show the power of data analytics using both proactive and reactive case studies. We will introduce a method to apply data analytics, demonstrate capability and explain how the data analytics methodology can be used to efficiently and effectively identify risk.

Learning Objectives:
  • Highlight the importance of utilizing a multi-faceted team for the strategic application of Data Analytics
  • Reactive application of Data Analytics: case study on wire fraud
  • Proactive application of Data Analytics: case study on techniques to apply to multiple populations to address risk
Speaker(s):
Standard: $49.00

Staying on Target in 2019: Enhancing Performance Management and Profitability

Oct 23, 2019 7:00am ‐ Oct 23, 2019 7:50am

Identification: CU19203

Operation Minutes : 50

How are strategies changing in 2019 to support ever-increasing performance goals? Kaufman Hall surveyed CFOs and senior finance executives from financial institutions around trends and priorities in financial performance management. In this session, Kaufman Hall experts Ken Levey and Bryan Ridgway will:

  • Review key survey findings and best practices in budgeting, forecasting and long-range planning; reporting and analytics; and profitability analysis.
  • Provide a focused look at Profitability Analysis—the top performance management initiative indicated by CFOs—describing best practices for developing an effective multi-dimensional profitability analysis framework specifically for financial services organizations. Attendees will learn challenges and pitfalls of traditional profitability initiatives, the importance of adding relationship profitability for comprehensive analysis, and tips for making profitability matter at every institution.

Learning Objectives:
  • Understand what your peers are prioritizing across performance management processes
  • Hear best practices around budgeting and planning, reporting, and profitability analysis
  • Learn how to develop a profitability framework that you can apply at your credit union
Speaker(s):
  • Brad Brockman, Senior Solutions Engineer, Kaufman Hall
  • Kenneth Levey, Vice President, FI Software, Product Management & Strategy, Kaufman Hall
Standard: $49.00

Announcements and Introduction | CECL Panel Discussion

Oct 23, 2019 7:55am ‐ Oct 23, 2019 9:15am

Identification: CU1917

Operation Minutes : 75

The session will provide our panelists an opportunity to discuss their approach to addressing CECL for their credit unions or their clients. They will provide background on their CECL path thus far and the challenges they have faced. In addition, participants will have time to ask questions of the panelists.

Learning Objectives:
  • Participants will understand: - How other credit unions have approached the implementation of CECL
  • The challenges that credit unions have faced during implementation
  • Best practice suggestions
Speaker(s):
Standard: $49.00

NCUA and the Virtual Examination Program: Exam Hot Topics

Oct 23, 2019 9:45am ‐ Oct 23, 2019 11:00am

Identification: CU1918

Operation Minutes : 75

We will discuss recent changes to NCUA's examination related tools and applications. We will also provide an update regarding NCUA's "Virtual" examination project. In addition, other contemporary topics related to NCUA's examination program will be discussed.

Learning Objectives:
  • Obtain a better understanding of what future NCUA examination reports will look like.
  • Gain insight into what to expect from your next examination.
Speaker(s):
  • Scott Neat, Associate Director, Office of Examination & Insurance, NCUA
Standard: $49.00

The Top Ten Accounting Questions

Oct 23, 2019 9:45am ‐ Oct 23, 2019 11:00am

Identification: CU1919

Operation Minutes : 75

This session will cover frequent accounting questions asked by credit union personnel…………….and questions that should have been asked by credit union personnel regarding infrequent and unusual accounting transactions.

Learning Objectives:
  • Gain new knowledge or confirm your understanding about various accounting transactions impacting credit unions
  • Become familiar with infrequent and unusual accounting transactions in the credit union industry
Speaker(s):
Standard: $49.00

Best Practices to be a Successful CFO

Oct 23, 2019 9:45am ‐ Oct 23, 2019 11:00am

Identification: CU1920

Operation Minutes : 75

The recession, current interest rate environment, regulations, and other factors have contributed to the changing role of the finance executive. In this session, you’ll hear from four industry leaders about their journey of becoming successful credit union finance executives. They’ll share some war stories, provide some insights into successful management techniques, and discuss their thoughts on strategic challenges they see on the horizon.

Learning Objectives:
  • Discuss best management practices for CFOs
  • Discuss strategic challenges facing credit unions
  • Identify economic factors impacting credit unions
Speaker(s):
Standard: $49.00
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