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

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.

During the first portion of the session, NCUA Chairman Rodney Hood will share his perspective on the future direction of the credit union industry. In the second portion of the presentation, Owen Cole, CLF President and Associate Director will share an update of some of the NCUA’S major regulatory initiatives as well as 2020 supervision priorities.

Learning Objectives:

• Attendees will be given a glimpse into Chairman Rodney Hood’s priorities for the credit union industry, the emerging issues presently facing the industry, and how he remains committed to advocating for credit unions in the wake of uncertainty so all will continue to thrive
• Attendees will hear about some current priority rulemakings and supervisory efforts at the NCUA, including important supervisory expectations for credit unions.
• Understand the areas of emerging and strategic risk facing your financial institutions and to develop knowledge that can improved strategic management of the organization, improve efficiency and compliance with applicable laws and regulations.

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.

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.

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.

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

What is new in the world of financial reporting during a pandemic? Loan mods, re-mods, PPP, TDRs - just to name a few. This two-part session will help you understand what standards are applicable to credit unions and what is forthcoming from the FASB. Join us to hear perspectives from the NCUA chief accountant and cover developments from the AICPA’s Depository Institutions Expert Panel (DIEP).

Learning Objectives:

• Learn about the latest developments on accounting and financial reporting for credit unions
• Understand the latest developments from the AICPA Depository Institutions Expert Panel (DIEP)

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

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

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

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

Regulatory compliance risk is increasing due to a myriad of factors, some obvious and others not so. We also see a concerted push for more intense compliance exams.  During this session, we explore what credit unions must understand and do in order to thrive in this environment.  We discuss how the current administration and regulatory agency actions impact credit unions.  We also examine specific regulatory compliance requirements that are the focus of examiners, including FCRA, EFTA, BSA, UDAAP and advertising compliance.  

Learning Objectives:

• Learn why compliance anxiety is rising during the pandemic.
• Understand regulatory compliance hot topics and how to reduce the risk of violations.

This session will introduce the basic requirements of both cash flow and fair value hedge accounting by exploring common strategies employed by Credit Unions. We will explore how the current low rate environment is impacting these hedge strategies, talk about rate fluctuations and how that impacts not only the derivatives, but just as importantly the hedged items and look at what's on the horizon including LIBOR's end. Background information will include a cheat sheet of commonly used terms as well as descriptions of the two most common hedge instruments.

Learning Objectives:

• Primer on the basic requirements of cash flow and fair value hedge accounting
• Understanding the impact of the current low-rate environment on common hedge strategies
• Introduction to reference rate reform

How has the Covid-19 pandemic changed the credit union operating model?  

The panelists in this session will provide their insights on how the pandemic is impacting credit unions, and importantly the opportunities that lie ahead. They’ll discuss topics such as the remote workplace, new directions in strategy, coping with interest rate volatility, budgeting in an uncertain environment and capital deployment. Recognized industry experts, Julie, Rob, Steve and Mike will draw on their vast experience and share insights gained from both their CFO and consulting perspectives. This session will challenge your thinking to not just survive the current challenges, but to find ways to thrive in this new operating environment.

Learning Objectives:

• Discuss business challenges in the Covid-19 environment
• Discuss business opportunities in the Covid-19 environment
• Discuss business opportunities and structural changes resulting from the Covid-19 experience

Machine learning is transforming credit underwriting by using advanced math and large data sets to quantify risk with more nuance and precision. More credit unions are using ML to expand their footprint and drive higher levels of automation in their lending, especially as more members seek to transact through online channels. This session will assess the use cases, benefits, regulatory concerns, and challenges of using ML, especially in the underwriting process.

Learning Objectives:

• Machine Learning And Automation
• ML And Price/Portfolio Optimization
• How ML Fits Into The Regulatory Context
• Using ML To Fight Fraud
• Using ML To Make Lending More Inclusive And Fair

This session is designed by two well-seasoned auditors to discuss those areas of accounting that keep you up at night. We’ll cover those accounting areas that can present difficulties for both the client and the auditor. Areas covered include pension plans, troubled debt restructured loans, other real estate owned, alternative investments, and COVID-19 issues. Please join us for this session.

In this session we will discuss the impact of payment deferrals, forbearance and other loan assistance programs on you portfolio and CECL allowance calculation. We will provide a framework for incorporating these programs into your credit modeling and allowance calculation to generate an estimate of the impact on expected credit losses. Separate consideration will be provided for commercial and retail books.

Key technology developments are playing an important role in helping credit unions and other finance professionals keep in step with evolving demands, especially as business models shift further to remote work and virtual processes.

Many credit unions have already been able to take advantage of those advances to simplify and streamline their compliance efforts, using RIVIO Clearinghouse to do their yearly, source-validated, audit report exchange with NCUA examiners.

Join us for a discussion of audit report delivery evolution and an up-close look at RIVIO Clearinghouse, the online platform enabling credit unions to gain more control of NCUA compliance, increase efficiency, prevent fraud, and ultimately, increase trust with key stakeholders.

Learning Objectives:

• During the session, we will share: • The RIVIO workflow for CPA Firms, Credit Unions and NCUA Examiners
• • Workflow for credit union commercial lenders’ audit report requests
• • Compliance insights for yearly audit report submission
• • Fraud examples and fraud prevention insights for credit union’s commercial lending

Economic activity fell by a record amount in the second quarter of 2020 as businesses shutdown across the country and unemployment reached levels not seen since the Great Depression. In housing, record-low mortgage rates have helped the industry remain relatively resilient in the face of the uncertainty seen in most other industries. Though the country has started reopening, the coronavirus is still having an impact on economic activity.

Learning Objectives:

• Understand the upside and downside risks that the U.S. economy faces in the coming months
• Understand the trends in U.S. growth and the housing market as the US economy faces the challenges posed by COVID-19
• Understand the outlook for the U.S. economy over the next 18-24 months

Maintaining a disciplined approach to portfolio management may be more critical than ever as the current economic environment continues to evolve. A thoughtful investment process should lead to more consistent and predictable earnings from the fixed-income portfolio. This session will discuss the key components of a process that goes well beyond just picking a bond, as well as digging deeper into some of today’s challenges.

Learning Objectives:

• Understand an institutional portfolio management framework
• Define investment philosophy and strategy
• Identify components of a thorough investment process

Cannabis Banking requires a great deal of preparation ranging from third party support to regulator acceptance.    This session will walk attendees through project preparation and a series of key considerations  to implement a safe and sound cannabis banking program.   The presenter, who developed the Safe Harbor Private Banking program in 2015, will base her information on 6 years of experience and 15 federal and state examinations that scrutinized the safety and soundness of BSA processes associated with cannabis banking.  Likewise, the session will provide insight for clients that are seeking to bank within a compliant cannabis banking program and what differences they could expect.   It's not easy, but it is possible! 

Learning Objectives:

• What it takes to implement a cannabis banking program.
• What third parties should understand before affiliating with a cannabis banking program.
• How one credit union came to bank in excess of $3 Billion of cannabis related funds in one year.

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

This session is intended to provide attendees with an overview of the current mortgage banking environment, discuss strategies companies are employing to navigate the current mortgage market, and offer the latest updates on relevant accounting and reporting requirements.

Learning Objectives:

• Gain and understanding of current mortgage banking environment
• Evaluate current mortgage banking strategies
• Recognize mortgage banking accounting and reporting requirement updates

The session will review three key areas:

1. Overview of the current credit union merger landscape including acquisitions of banks

2. Key areas that credit unions can prepare themselves for related to a merger -- both leading to a merger and for merger integration

3. Most common merger "gotchas" including key Finance & Accounting considerations

Learning Objectives:

• Understand what credit unions should do to be properly prepared for a credit union merger or bank acquisition
• Understand the key financial and accounting implications to incorporate into a merger integration plan
• Share the current merger landscape, dynamics and motivations for merger partners

This session will cover hot topics in the fraud community, including case examples, trends, and enforcement.  We will also discuss fraud associated with COVID-19, and provide best practices for detecting and reporting fraud.

Learning Objectives:

• Understand current fraud trends
• Understand financial insitution frauds as it relates to COVID-19