The last few years have been spent talking about CECL and showing different models and calculations. Now is the time to think beyond the calculation and focus on the big question not being talked about enough - "What is the impact of CECL on our business model?"

Participants will be better equipped to consider strategic implications, reduce pitfalls, make the most of opportunities, and implement CECL in a meaningful way.

Key Takeaways:

• How could CECL impact business models and strategic decisions going forward?
• What roadmap are other credit unions following?
• What factors should be considered in forecasts and how much forecasting is enough?

This workshop is not available as part of the Online or Flex Pass registration options. Bankers have been faced with managing interest rate risk for years and there are many tried and true strategies that have been used successfully. In this session the speakers will outline the bankers checklist for managing successful hedging programs. Having complete data, strong cash flow models, robust analytics and a defined accounting methodology are key to success.

• 1. Defining, managing and understanding complete and sufficient data
• 2. How cash flow models work and identifying good ones from the rest
• 3. Trading level analytics and robust modeling for simple to complex assets
• 4. Exploring new accounting guidelines and how to apply them

Navigating the changing landscape of financial services technology and implications for industry participants

• Explore the impact of industry changes at the intersection of innovation, policy changes and a positive economic environment on financial institutions
• Identify critical business areas financial institutions should consider in response to advances in technology and rising consumer expectations

• 1) Learn about latest developments on accounting and financial reporting for credit unions and their auditors, including FASB’s major standards, standards in process and other developments.
• 2) Understand the latest CECL implementation issues, including discussions at the FASB’s Transition Resource Group (TRG) and the AICPA Depository Institutions Expert Panel (DIEP).

The discussion will continue in Part 2 of the Accounting and FASB Update.

Join us to have your questions answered in the second session.

• 1) Learn about latest developments on accounting and financial reporting for credit unions and their auditors, including FASB’s major standards, standards in process and other developments.
• 2) Understand the latest CECL implementation issues, including discussions at the FASB’s Transition Resource Group (TRG) and the AICPA Depository Institutions Expert Panel (DIEP)

• Gain a working knowledge of the current and proposed regulations affecting the credit union industry
• Learn about the current and emerging risks driving NCUA’s primary and planned focus from a prudential and risk management perspective
• Gain insight and understanding of the changing credit union and financial services landscape, which will shape supervisory strategies in the near term and intermediate outlook

• Macro-economic trends including the health of the consumer, and manufacturing sector
• Fed policy effects and initiatives
• U.S. growth and rate outlook

The concept of Artificial Intelligence (AI) has been around for years and progressive organizations have invested heavily in AI. Organizations are using AI to automate processes, better respond to customer needs, and manage risk by detecting patterns in massive sets of data and interpreting their meaning. This session will define AI, and provide practical examples of opportunities for credit unions and audit professionals to better identify and manage risks.

Learning objectives include:

• Understanding what Artificial Intelligence is and how it is being used.
• Learn opportunities for credit unions to manage risk through the use of AI.
• Learn how auditors can utilize AI to improve audit scope and coverage while being more efficient.

The effective date for FASB’s revenue recognition standard is just around the corner and most credit unions will be adopting at the beginning of 2019. The ASU puts in place a common framework for recognizing revenue, largely replacing the industry-specific revenue recognition guidance in GAAP. While the income statement impacted has not been significant for most financial institutions, the revenue streams still need to be evaluated and documented. In addition to sharing observations on the implementation, this session will cover the new disclosures and internal control considerations.

• The learning objectives include understanding how to evaluate revenue under the new standard as well as walking through examples and disclosures that are relevant to the credit union industry.

• Learn how the HMDA changes will impact your fair lending program
• Have a clearer understanding about how the compliance function is impacted by the current presidential administration