The FASB has issued several final standards over the past few years, including credit losses, revenue recognition and leases, with effective dates over the next three years for most credit unions. The recent changes in NCUA business lending regulations have opened up additional opportunities for credit unions. In this time of change and uncertainty, it is essential that you align your decisions to move forward. Gain unwavering confidence for each step of the decision-making process at the only conference that brings together such a wide array of industry experts.
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This includes sessions from the conference: Conference on Credit Unions 2018
Welcome & Introduction & The Future of Financial Services (Oct 22, 2018 01:00 PM)
Accounting/FASB for Credit Unions, Part 1 (Oct 22, 2018 02:05 PM)
Accounting/FASB for Credit Unions, Part 2 (Oct 22, 2018 03:50 PM)
NCUA Regulatory Update (Oct 22, 2018 04:20 PM)
Announcements and Introduction & Economic Update (Oct 23, 2018 07:55 AM)
Artificial Intelligence (Oct 23, 2018 09:20 AM)
Revenue Recognition for Credit Unions (Oct 23, 2018 11:05 AM)
Hot Topics in Regulatory Compliance (Oct 23, 2018 11:05 AM)
Anti-Fraud Strategies for Credit Unions (Oct 23, 2018 11:05 AM)
Round 2: "They Asked What?" (Oct 23, 2018 01:10 PM)
Hedging: Observations from Adoption (Oct 23, 2018 02:35 PM)
Increasing Bottom Line by Renegotiating Contracts (Oct 23, 2018 02:35 PM)
The Art of Auditing (Oct 23, 2018 02:35 PM)
CECL (Oct 23, 2018 04:20 PM)
Relationship Profitability: The Holy Grail (Oct 24, 2018 07:00 AM)
Announcements and Introduction & Block Chain (Oct 24, 2018 07:55 AM)
Credit Union Commercial Lending - New Freedoms, New Challenges…Now What? (Oct 24, 2018 09:45 AM)
Managing Interest Rate Risk in the Current Environment (Oct 24, 2018 09:45 AM)
Auditing Standards Update (Oct 24, 2018 09:45 AM)
Accounting and Financial Considerations for Mortgage Banking Operations (Oct 24, 2018 11:10 AM)
NCUA Cybersecurity (Oct 24, 2018 11:10 AM)
Expected Output from an Enterprise Risk Management Process (Oct 24, 2018 11:10 AM)
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.
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.
Navigating the changing landscape of financial services technology and implications for industry participants
FASB has issued several final standards over the past few years, including credit losses, recognition revenue and leases, with effective dates beginning in 2019 for most credit unions. This two-part session will help you understand what standards have been issued applicable to credit unions, what proposed standards are forthcoming and the latest thinking from FASB. We will also cover developments from the FASB’s Credit Losses Transition Resource Group (TRG) and discussions held by the AICPA’s Depository Institutions Expert Panel (DIEP) on the FASB’s Current Expected Credit Loss (CECL) model. Join this comprehensive update of the key pronouncements, projects and other developments at FASB and practice matters of interest to credit unions.
The discussion will continue in Part 2 of the Accounting and FASB Update.
Join us to have your questions answered in the second session.
Learn about the changes occurring at NCUA and what effect these changes may mean for your credit union. Gain insight into the changing regulatory landscape that drives industry performance and business practice. Session objectives include:
Chief Economist Dr. Lindsey Piegza will look at the pace of our economic recovery and what it means going forward for overall growth, interest rates and monetary policy. She will cover macro-economic trends in consumer behaviors and in the manufacturing sector, in addition to new Federal Reserve policy initiatives and potential economic effects of these changes. She will also examine economic growth in the U.S. as a whole and its effects on interest rates.
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:
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.
During this session we will cover several important regulatory compliance requirements currently being focused on by examiners and third party plaintiff attorneys. We will pay particular attention to CDD, HMDA, fair lending, UDAAP, compliance management and other areas which have been the subject of enforcement actions.