This includes sessions from the conference: Conference on Credit Unions 2018
Identification: CU1801
Navigating the changing landscape of financial services technology and implications for industry participants
Identification: CU1802
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.
Identification: CU1803
The discussion will continue in Part 2 of the Accounting and FASB Update.
Join us to have your questions answered in the second session.
Identification: CU1804
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:
Identification: CU1805
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.
Identification: CU1806
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:
Identification: CU1807
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.
Identification: CU1808
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.
Identification: CU1809
When insider fraud occurs in a credit union, it negatively affects that institution, the credit union industry, and the Share Insurance Fund. This session outlines specific practices that credit union officials and management can use to help deter, detect, and respond to insider fraud.
Identification: CU1812
This session will address answers to a wide array of credit union questions regarding unusual and/or infrequent accounting transactions. It will also cover some "best practice" ideas developed for complying with complex or time-consuming accounting tasks.