2022 AICPA & CIMA Conference on Credit Unions

Oct 23, 2022 ‐ Oct 25, 2022


This includes sessions from the conference: 2022 AICPA & CIMA Conference on Credit Unions

Standard: $299.00

Products

Opening Remarks | Economic Update

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Opening Remarks | Economic Update

Oct 24, 2022 1:00pm ‐ Oct 24, 2022 2:00pm

Longstanding economic assumptions, relationships and metrics are less relevant in today’s economy. Federal Reserve policy decisions are more obviously fraught with peril. Politics and the political climate have assumed increasing importance. Demographic shifts – with potentially large impacts - have accelerated. In an environment characterized by crisis, uncertainty and complexity these trends are magnified – with important implications for accountants, auditors, and all those interested in credit union operations. Significant labor market improvements have occurred quickly but have been uneven. Ligi will explore these and related themes and will discuss implications for credit unions over the year ahead.

Speaker(s):
  • Ligia Vado, Senior Economist, Credit Union National Association
Standard: $49.00

Digital Assets - It's Not About Bitcoin

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Digital Assets - It's Not About Bitcoin

Oct 24, 2022 4:30pm ‐ Oct 24, 2022 5:20pm

Despite the recent downturn in cryptocurrency prices that ushered in the current “crypto winter” there is still phenomenal interest and transactions taking place in the space. Today, the focus is still on speculative investing and, unfortunately, a “get-rich-quick” mentality. But where are we going? And what kind of future will we discover there? Surprisingly, the answers lie in our past. This session will explore the many parallels to the early days of the internet, then step forward to take a look at potential future scenarios, including the use of blockchain in real estate.  See this short video for an overview of cryptocurrency:  https://www.pscu.com/video/202...

Speaker(s):
Standard: $49.00

Risks in the Credit Union System Panel Discussion

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Risks in the Credit Union System Panel Discussion

Oct 25, 2022 9:45am ‐ Oct 25, 2022 11:00am

Over the past several years, risk management has gone through distinct phases in response to COVID, consumer expectations, remote workforce, and regulatory requirements. For this session we have assembled a panel of credit union professionals who are excited to share their experiences in the unique set of demands in developing or enhancing your enterprise risk management program to include responding to the changes in the external environment that has led to extended risk profile, increased fraud threats, and effective mitigating controls. Our panel is comprised of individuals within the credit union and those from the outside. We think this combination will give a rounded look at risk to the credit union system in current and near-future environments.

Moderator(s): Speaker(s):
Standard: $49.00

NCUA Regulatory Update

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NCUA Regulatory Update

Oct 25, 2022 11:10am ‐ Oct 25, 2022 12:25pm

This session provides an update on NCUA’s priorities and concerns in the current economic environment. Topics include the Changing Economic Environment, Interest Rate Risk, Credit Risk, Information Security (Cybersecurity), Fraud, Bank Secrecy Act, CECL Simplified Tool, NCUA’s Regulatory Agenda, and the MERIT Examination Tool.

Speaker(s):
  • Kelly Lay, Director of the Office of Examination and Insurance, National Credit Union Administration
Standard: $49.00

Hot Topics in Regulatory Compliance

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Hot Topics in Regulatory Compliance

Oct 25, 2022 1:25pm ‐ Oct 25, 2022 2:40pm

This year has been harder than most to predict upcoming regulatory changes and examiner areas of focus. While credit unions can anticipate some changes and emphasis in areas such as Bank Secrecy Act, fair lending and UDAAP, other areas like fees are transforming in surprising ways. Please join Doeren Mayhew’s John Zasada as he explores why and how the CFPB’s focus has pivoted, and in turn regulators like the NCUA have followed suit. Additionally, he will discuss evolving areas like websites, overdrafts, the CFPB and more.

Speaker(s):
Standard: $49.00

Recent Changes and Updates to the Auditing Standards Impacting US Environment

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Recent Changes and Updates to the Auditing Standards Impacting US Environment

Oct 25, 2022 1:25pm ‐ Oct 25, 2022 2:40pm

A deep dive into the current changes, updates, and ongoing projects in auditing standard setting to stay on top of today's hot topics and developments. Specifically, the program will cover developments over the past year with respect to various topics. 

Speaker(s):
  • Patricia Bottomly, CPA, National Managing Partner - Audit Methodology and Consultation, BDO USA
Standard: $49.00

Inflation, the Fed, and Derivatives

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Inflation, the Fed, and Derivatives

Oct 25, 2022 1:25pm ‐ Oct 25, 2022 2:40pm

With extreme uncertainty around the trajectory of inflation, and therefore corresponding Fed policy, managing interest rate risk is of ultimate importance. Following the NCUA’s relaxing of the derivative rule set in May of 2021, this tool is now much more readily accessible and in many instances is the most efficient and practical solution for risk mitigation. This session will explore the recent ruling, how tools such as interest rate swaps, caps and floors can mitigate risk using case studies, and finally the path one follows to establish an appropriately governed derivatives platform within a credit union.

Speaker(s):
  • Ryan Henley, CFA, Managing Director, Head of Financial Institutions Strategies, Stifel
Standard: $49.00

It's Here! A Stroll through the AICPA CECL Audit and Accounting Guide

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It's Here! A Stroll through the AICPA CECL Audit and Accounting Guide

Oct 25, 2022 2:50pm ‐ Oct 25, 2022 3:40pm

Join this session for a stroll through the 2021 AICPA CECL A&A Guide. The AICPA CECL task force has been progressing towards the issuance of an AICPA Guide since before the FASB finalized ASU 2016-13, “Financial Instruments: Credit Losses (topic 326), Measurement of Credit Losses on Financial Instruments,” also known as CECL. In 2019, the AICPA issued Practice Aid, “Allowance for Credit Losses —Audit Considerations.” Using the Practice Aid as a starting point, the AICPA CECL A&A Guide provides authoritative auditing guidance, provide implementation observations from 2020 adopters, and incorporates accounting issues addressed by the FASB’s Transition Resource Group (TRG) and the AICPA’s Financial Reporting Executive Committee (FinREC).

Speaker(s):
Standard: $49.00

Managing a Balance Sheet to Withstand Interest Rate Volatility – Part I, Market Themes & BSM Tenets

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Managing a Balance Sheet to Withstand Interest Rate Volatility – Part I, Market Themes & BSM Tenets

Oct 25, 2022 2:50pm ‐ Oct 25, 2022 3:40pm

There are three common attributes of high-performing financial institutions, regardless of the current Fed rate or market volatility. Learn how staying disciplined in the face of others’ concern better positions your balance sheet in a changing rate environment.

Part one of this cautionary two-part session will begin with an overview of current market conditions and the factors impacting the economic outlook. Industry experts will then begin to break down the three principles of high-performing financial institutions: disciplined asset pricing, understanding deposit franchise value, and the importance of hedging.

Speaker(s):
  • Jason Haley, Chief Investment Officer, ALM First Financial Advisors
  • Robert Perry, Principal, ALM & Investment Strategy, ALM First Financial Advisors
Standard: $49.00

Supervisory Committee Audit Guide 2.0 – Revisited

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Supervisory Committee Audit Guide 2.0 – Revisited

Oct 25, 2022 2:50pm ‐ Oct 25, 2022 3:40pm

Changes to NCUA Regulation 715.7 have now been in effect since January 2020. With over two years behind us and valuable feedback about the Minimum Procedures Audit Guide in our lap, we are ready for a 50 minute round table discussion to compare notes. The NCUA has been receptive to feedback that will improve the clarity and efficiency of the engagements, so this could be a valuable discussion.

Speaker(s):
Standard: $49.00