AICPA Conference on Credit Unions 2020

Oct 19, 2020 ‐ Oct 21, 2020



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This includes sessions from the conference: AICPA Conference on Credit Unions 2020

Sessions Included:

Welcome and Introduction | Emerging From COVID-19: Consumer and Financial Institution Perspectives (Oct 19, 2020 11:00 AM)

CECL: What Have We Learned From Adopters in 2020? (Oct 19, 2020 12:55 PM)

Accounting & Auditing Issues with the Allowance Under Current Economic Environment (Oct 19, 2020 04:05 PM)

Member Business Lending (Oct 19, 2020 04:05 PM)

Lending and Stress Testing - A Preview: Managing Your Portfolio Amid a Pandemic (Oct 19, 2020 04:05 PM)

Sponsor Solution Session: Planning Unleashed: Peer Perspectives for Improving Your Budgeting, Planning, and Forecasting (Sponsored by Syntellis Performance Solutions) (Oct 20, 2020 10:00 AM)

Other Impairment Considerations (Oct 20, 2020 01:30 PM)

Building the Smarter Bank: The Opportunity for Credit Unions (Oct 20, 2020 01:30 PM)

How to Analyze Loan Participation Opportunities in a New Normal (Oct 20, 2020 01:30 PM)

Implementing the Lease Standard (Oct 20, 2020 02:55 PM)

Hot Topics in Regulatory Compliance (Oct 20, 2020 02:55 PM)

Yo-Yo Rates – Can Hedging Help the Hiccups? (Oct 20, 2020 02:55 PM)

Covid-19: Long Term Goals, Short-Term Challenges & Thriving In This New Environment (Oct 20, 2020 04:15 PM)

Using Machine Learning To Manage Risk (Oct 20, 2020 04:15 PM)

Accounting Nightmares (Oct 20, 2020 04:15 PM)

Sponsor Solution Session: The Impact of Deferrals on Your Loan Portfolio and Considerations for CECL (Sponsored by Moody's Analytics) (Oct 21, 2020 10:00 AM)

Sponsor Solution Session: Credit Union Audit Report Delivery, Compliance, and Commercial Lending Insights (Sponsored by CPA.com) (Oct 21, 2020 10:00 AM)

How to Construct a Reliable Investment Framework for 2021 & Beyond (Oct 21, 2020 12:55 PM)

Cannabis Banking - Key Considerations (Oct 21, 2020 12:55 PM)

Accounting and Auditing Issues with the Allowance Under Current Economic Environment (Oct 21, 2020 12:55 PM)

Mortgage Banking (Know When to Hold'em, Fold'em, Hedge'em) (Oct 21, 2020 02:20 PM)

Credit Union Merger and Acquisition Preparedness and Considerations (Oct 21, 2020 02:20 PM)

Standard: $379.00

Sessions

Welcome and Introduction | Emerging From COVID-19: Consumer and Financial Institution Perspectives

Oct 19, 2020 11:00am ‐ Oct 19, 2020 12:25pm

Identification: CU2001

COVID-19 has had unprecedented impact on the economy, consumer behavior, and the financial services industry.  From record decline in GDP in the second quarter of 2020, to historic jumps in unemployment, to catastrophic closures of small business, the implications have been profound.  The impact on the financial services industry has also been profound, and it will continue into 2021 as the industry deals with an historically low rate environment and growing loan losses. While we have already begun to see signs of emergence and economic growth, many sectors of the economy will feel the impact of COVID-19 for an extended period of time, and some are likely to never recover. 

We anticipate significant and permanent changes in many aspects of consumer and small business behavior, both financial and otherwise, and these changes present real opportunity for financial service providers. These changes are in reality an acceleration of trends that were already underway, and impact a broad range of areas, including financial product design, branch distribution and branch design, technology deployment, staffing, and the credit union business model. In this session we will examine these trends with the intent to understand how the financial services industry is changing and what credit unions can do to survive and thrive in this new environment.

Learning Objectives:
  • Understand the impact of COVID-19 on consumer and small business behaviors
  • Identify the significant opportunities as we emerge from the COVID-19 pandemic
  • Build a plan to address the long-term opportunities coming out of the COVID-19 pandemic
Speaker(s):
  • Bill Handel, General Manager and Chief Economist, Raddon, A Fiserv Company
Category: General Session (Online)
Standard: $49.00

CECL: What Have We Learned From Adopters in 2020?

Oct 19, 2020 12:55pm ‐ Oct 19, 2020 2:10pm

Identification: CU2002

2020 was the first year of CECL adoption for many public financial institutions.  With the first few quarters of reporting behind us, what are some major takeaways that will make a 2023 adoption of CECL less stressful for Credit Unions.

Learning Objectives:
  • Understand the impacts of economic forecasting under CECL compared to an incurred loss approach.
  • Identify data and process flexibility that will help manage risk in a volatile market.
  • Understand how qualitative factors are being integrated into methodologies and best practice considerations to avoid layering of risk.
Speaker(s):
Category: General Session (Online)
Standard: $49.00

Accounting & Auditing Issues with the Allowance Under Current Economic Environment

Oct 19, 2020 4:05pm ‐ Oct 19, 2020 5:20pm

Identification: CU2004

Understanding the implications of COVID 19, government stimulus, and economic volatility under the incurred loss accounting model.

Learning Objectives:
  • Understand economic and industry trends impacting the incurred loss models
  • Identify accounting rules and implications associated with loan modifications
  • Understand qualitative factor adjustments and monitoring process in a volatile market.
Speaker(s):
Category: Concurrent Session (Online)
Standard: $49.00

Member Business LendingMember Business Lending

Preview Available

Member Business Lending

Oct 19, 2020 4:05pm ‐ Oct 19, 2020 5:20pm

Identification: CU2005

After many years of “quiet times” in the commercial loan area, this year presents many challenges for Credit Unions as well as auditors entering the fourth quarter of 2020. In this year’s presentation we will address the 2020 current events and remind everyone the proper accounting for impaired loans. Finally, we will suggest some operational considerations given today’s environment. The following is a summary of the topics covered in this year’s presentation:

  • Regulatory findings in recent exams
  • COVID-19 modifications (“non-TDRs”)
  • Impairment accounting for non-homogeneous loans
  • Risk rating/ALLL methodology considerations
  • Internal loan reviews expectations

Learning Objectives:
  • Learn of recent regulatory observations related to member business loans.
  • Revisit impairment accounting for large non-homogeneous loans.
  • Consider risk rating and ALLL implications of COVID-19 related impact to member business loan portfolios.
Speaker(s):
Category: Concurrent Session (Online)
Standard: $49.00

Lending and Stress Testing - A Preview: Managing Your Portfolio Amid a Pandemic

Oct 19, 2020 4:05pm ‐ Oct 19, 2020 5:20pm

Identification: CU2006

For this session, we will present a condensed risk management session for the mortgage, auto and commercial real estate portfolios. We will briefly outline some of the challenges that lenders face in today’s market when originating loans, pricing loans, and monitoring performance over time. The session will also touch briefly on the coming CECL FASB standard and its impact on lending and pricing loans. For a deeper dive into this topic, please register and attend the post conference optional workshop on October 26th, where we further outline some of the tools available to bring further safety and soundness to the balance sheet.

Learning Objectives:
  • • Introductory discussion on lending volumes across mortgage, auto and commercial real estate.
  • • Introductory discussion on COVID and forbearance numbers across the portfolio.
  • • Introductory discussion on various risk measures across the portfolio.
  • • Introductory discussion on CECL and the coming FASB change.
  • • Introductory discussion on pricing loans.
Speaker(s):
  • John Toohig, Managing Director, Raymond James & Associates
Category: Concurrent Session (Online)
Standard: $49.00

Sponsor Solution Session: Planning Unleashed: Peer Perspectives for Improving Your Budgeting, Planning, and Forecasting (Sponsored by Syntellis Performance Solutions)

Oct 20, 2020 10:00am ‐ Oct 20, 2020 10:50am

Identification: CU20201

While annual budgeting is time-consuming and seems to come earlier every year, budgeting and planning aren’t a once-and-done endeavor. You need to be nimble to deal with a rapidly changing landscape, and part of that preparation is learning what works for other credit unions. Join finance experts from Syntellis Performance Solutions, CommunityAmerica Credit Union, and Valley Strong Credit Union for their perspectives on how to maximize the effectiveness, efficiency, and value of the budgeting, planning, and forecasting processes at your credit union. Our panelists will share their experiences, best practices, and lessons learned around key planning topics, with plenty of time for interactive discussion with the audience.

3 tangible benefits to attendees:

  • Validate your current processes against your peers
  • Look for ways to improve your budgeting and planning cycle―before you’re in the thick of it
  • Take practical strategies back to your credit union to streamline and enhance your processes

Learning Objectives:
  • Processes and best practices on budget and variance reporting
  • Tips for creating a smooth process to handle non-interest expense planning, including operating expenses, capital expenditure requests, and salary planning
  • Challenges, value, and best practices related to balance sheet and margin planning
Speaker(s):
  • Amy Doll, CPA, Senior Vice President - Accounting & Finance Services, CommunityAmerica Credit Union
  • Lindsay Reyes, Director Accounting & Finance, Valley Strong Credit Union
  • Heather Hinchley, Industry Practice Lead, Financial Institutions, Syntellis Performance Solutions
Category: Early Riser (Onsite and Online)
Standard: $49.00

Other Impairment Considerations

Oct 20, 2020 1:30pm ‐ Oct 20, 2020 2:45pm

Identification: CU2009

The effects of COVID 19 are being felt worldwide and the financial institutions industry is feeling it acutely. Credit unions are evaluating their ALLL reserves and lending policies and practices. The financial downturn also affects impairment accounting. In this session, we will discuss the assets other than loans affected including goodwill, fixed income securities, fixed assets, and mortgage servicing rights. Dean Rohne will provide guidance on the required accounting – the what – Douglas Winn will provide insights on the calculations – the how.

Participants will come away from the session with an overall understanding of the assets affected by impairment accounting, the specific GAAP that applies to each type of asset, and techniques that can be used to assess impairment.

Learning Objectives:
  • Discuss the accounting of various impairments affecting credit union financial statements
  • Review key assumptions and considerations that impact asset impairment
Speaker(s):
Tags: Audit
Category: Concurrent Session (Online)
Standard: $49.00

Building the Smarter Bank: The Opportunity for Credit Unions

Oct 20, 2020 1:30pm ‐ Oct 20, 2020 2:45pm

Identification: CU2010

In this session, Steve Williams will present a strategic overview of industry shifts in the Post-COVID world and discuss the financial professional’s role in managing a changing business model and new technology challenges. Williams will share how Smarter Banks are leveraging digital, process automation and analytics in ways that will literally change the economics of the business. Listen to best practices among credit unions making the technological shift and learn what this means for the balance sheet and income statement in the years ahead.

Learning Objectives:
  • Understand critical shifts in the banking business model
  • Learn key financial and performance metrics for the new industry norm
  • Understand how to shift a legacy financial organization to a new model
Speaker(s):
Category: Concurrent Session (Online)
Standard: $49.00

How to Analyze Loan Participation Opportunities in a New Normal

Oct 20, 2020 1:30pm ‐ Oct 20, 2020 2:45pm

Identification: CU2011

The economic uncertainty ushered in by the COVID-19 pandemic presents new challenges for credit unions, particularly as many prepare for potential impacts to bottom-line performance in 2021. However, today’s market still has numerous opportunities for cooperatives looking to push their strategic objectives forward. In this session, our team of experts will share the latest updates, share best practices and discuss key market trends we’re seeing. We’ll also discuss how your credit union can potentially adjust the composition of its balance sheet and protect profitability through whole loan sales and participations.

Learning Objectives:
  • Remain up-to-date on market trends and participation opportunities
  • Understand the importance of risk-adjusted returns
  • Learn where the ALM First team is seeing value right now
Speaker(s):
  • Kevin Shaner, Managing Director, Loan Transaction Network, ALM First Financial Advisors
Category: Concurrent Session (Online)
Standard: $49.00

Implementing the Lease Standard

Oct 20, 2020 2:55pm ‐ Oct 20, 2020 3:45pm

Identification: CU2012

This session focuses on identifying, assessing and accounting for lease agreements under ASU 2016-02, “Leases (Topic 842). It will include examples for implementation, best practices, and lessons learned from those that have already adopted.

Learning Objectives:
  • Gain new knowledge or confirm your understanding of key items impacting the adoption of Topic 842 (Leases)
  • Understand presentation and disclosure requirements
  • Utilize best practices and lessons learned from those that have already adopted Topic 842
Speaker(s):
Category: Concurrent Session (Online)
Standard: $49.00
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