For those who adopted CECL in 2020, it definitely was a challenge with the uncertain and dynamic environment. Given the delay from FASB and the pandemic, many credit unions likely hit the pause button on their CECL implementation efforts. There are certainly lessons learned from the 2020 adoption and key takeaways for 2023 adopters. Now that we have a look in the mirror on how CECL performs under severe economic conditions, how does that inform a credit union’s approach to CECL adoption? How are 2020 adopters adapting and maintaining their CECL adoption? Join this workshop for perspectives on implementation and audit approach.

Learning Objectives:

• Apply lessons learned to implementation plans.
• Analyze aspects of CECL adoption
• Evaluate different approaches to comply with CECL

Chief Economist Dr. Lindsey Piegza will look at the current state of the economy amid the ongoing pandemic and what it means going forward for overall growth, interest rates and monetary policy. She will cover macro-economic trends in consumer spending and investment, in addition to new monetary and fiscal policy initiatives and the potential economic effects of these changes. She will also examine the changing global and political environment, and how it will affect the economic recovery. Participants will leave this session able to advise management teams on the possible effect of economic issues on their organizations.

Learning Objectives:

• Analyze macro-economic trends including the health of the consumer, and manufacturing sector
• Identify federal policy effects and initiatives
• Assess U.S. growth and rate outlook

Please join us for an in-depth panel discussion with industry professionals committed to advancing diversity, equity, and inclusion (DEI). Whether your credit union has actively been working to create a diverse and inclusive environment for your employees and members, or are just embarking on its own efforts to more prominently promote DEI among your workforce, this session will offer information for all. Presenters will share experiences, best practices, and actions to assist you in your journey of advancing DEI.

Learning Objectives:

• Identify tips on how to incorporate DEI as a key component of your strategic plan.
• Determine effective initiatives/activities to help to advance DEI among your workforce.
• Recognize how your credit union can better support inclusivity among the mosaic of cultures within your workplace.

What is new in the world of financial reporting for credit unions, including on-going matters from the pandemic? FASB is in process of performing it’s post implementation review (PIR) on CECL, including projects on troubled debt restructurings (TDRs), vintage disclosures, and acquired financial assets. We will cover those projects and next steps. What are current FASB projects relevant to credit unions and is up next for the FASB? The FASB issued an invitation to comment for stakeholders to share their views on future agenda priorities. Based on the feedback, where is the FASB likely to focus? This session will cover new standards applicable to credit unions, what is forthcoming from the FASB and other practice issues. Join us to hear perspectives from the FASB staff, the NCUA chief accountant and the AICPA’s Depository Institutions Expert Panel (DIEP).

Learning Objectives:

• Analyze feedback received on CECL through the FASB’s PIR process
• Determine next steps in the FASB agenda consultation process
• Apply the latest developments on accounting and financial reporting for credit unions

Our members, employees and communities navigated an unprecedented environment in 2020. Consumer behaviors evolved as channel usage shifted. The workplace continues to change with remote work becoming the norm in many organizations. The economy is coming back but gaps have been revealed. What do these changes mean for credit unions and their priorities looking forward? How can credit unions capture opportunities at a time when new challenges are emerging?

Learning Objectives:

• Recognize the key changes in the marketplace arising from the pandemic
• Identify opportunities that will emerge for credit unions as we begin a new era

Credit Unions of all shapes and sizes are moving away from traditional, highly manual, and error-ridden accounting processes and shifting toward modern accounting, using easy and achievable levers to drive automation and visibility in their financial close.

Don’t be left behind. Now is the time to start your journey and accelerate your path to modern accounting. We can all agree that it’s time to look forward and turn the page on traditional accounting processes. During this session you will discover how a move to modern accounting was able to help Energy Capital Credit Union and we’ll discuss how to map your journey to modern accounting.

Learning Objectives:

• Distinguish how to create a faster, more efficient, and compliant virtual close cycle
• Determine how to automate traditionally manual accounting functions
• Assess how to improve the accuracy and timeliness of your financial close process

Changing economic and risk landscapes require profitability analysis to be agile, precise, and aligned throughout the institution. Join Syntellis finance experts John Kim and Jeff Truitt to learn how to adapt your profitability analysis to these changing requirements.

Learning Objectives:

• Recognize how leveraging a RAROC matrix and scenario analysis will better align your organization with guidance from the OCC's Semiannual Risk Perspective (Mitigating Risk)
• Determine how to leverage profitability surveys, cost allocations and more to help you accurately understand your value drivers (Improving Accuracy)
• Assess the role and value of profitability steering committees (Increasing Buy-In)
• Identify tips for better data visualization, and see concrete examples of value-added reporting (Enhancing Communication)

Hear perspectives from Associate Director Viki Nahrwold, from the Office of Examination & Insurance, on credit union trends during the pandemic, upcoming changes to examination tools, what’s on the horizon for your credit union and gain valuable insight into the NCUA proposed and enacted regulations that occurred during 2021.

Learning Objectives:

• Assess credit union trends during the pandemic
• Identify upcoming changes to examination tools
• Determine what’s on the horizon for your credit union
• Recognize and gain valuable insight into the NCUA proposed and enacted regulations that occurred during 2021

The last two years have changed how we do things whether we work at a credit union or are an auditor. The unique environment has created some interesting new accounting and auditing issues, while some of our old favorites have resurfaced. This session will provide examples of unique accounting matters that do not occur every day. Also covered will be the types of challenges and unique situations audit professionals have been faced with due to the current financial and economic environment.

Learning Objectives:

• Identify specific examples of accounting and audit issues that have emerged or re-emerged in the past two years
• Determine some of the unique economic and operational risks being faced by credit unions

Robotic process automation (RPA) is a software technology that makes it easy to build, deploy, and manage software robots that emulate human actions interacting with digital systems and software. Robotic process automation streamlines workflows, which makes organizations more profitable, flexible, and responsive. Learn from the leaders in the industry about RPA, and the Credit Union that has embraced robots to create efficiency, build capacity and ultimately improve member service.

Learning Objectives:

• Analyze and gain an understanding of RPA, and what it is (and is not)
• Recognize and learn about the tools available to credit unions to implement RPA
• Assess and be inspired by the story of a Credit Union’s journey to embrace RPA technology
• Identify real-life RPA use cases for Credit Unions

Virtual Trivia is all the fun of a slightly chaotic pub-trivia night, without the sticky tables, loud music and overpriced beer. Virtual Team Trivia combines smart questions with unique game mechanics in a way that builds meaningful connections. 

Get your thinking caps on and get ready to get competitive! 

This session will discuss recently issued standards for audits and attestation engagements. The discussion will also include the ASB's active agendas including ongoing efforts to modernize auditing and attestation standards, enhance ASB outreach to stakeholders regarding proposed standards and post-implementation reviews of issued standards. This session will feature a discussion of the current status of the ASB's projects to: revise the quality control standards, revise the risk assessment standard, make narrow revisions to auditor communications regarding NOCLAR, and converge efforts on group audits.

Learning Objectives:

• Apply new auditing, attestation and quality management standards in their engagements
• Determine how the new standards will impact current audit procedures and reporting practice
• Identify current ASB projects to keep attendees apprised of their status and facilitate their participation in the stakeholder feedback process

We will explore the myriad of ways the tone in Washington DC has changed and its impact on credit union regulatory compliance.  However, just knowing the tone has changed does not adequately prepare you for the changes. In this session, we will dive into the implications of the regulatory agencies abruptly turning more towards consumer protection. We will discuss the potential changes to specific rules and regulations impacting credit unions. We will also cover areas examiners will be focusing on, the compliance implications from the pandemic, and hot button regulatory compliance requirements.  Expect a fast-pace session touching on dozens of important regulatory issues.

Learning Objectives:

• Identify potential changes to specific rules and regulations that credit union must comply with
• Recognize the compliance areas that are the primary focus of examiners and third party plaintiff attorneys
• Determine why regulators are pivoting towards more enforcement and regulatory changes

Scenario planning doesn’t have to be overwhelming. With a solid framework, scenario planning can be fun, while also being highly effective in helping leadership teams paint a picture of what could be and think through possible consumer responses and financial outcomes. This session is designed to stretch participants thinking.

Learning Objectives:

• Recognize top of mind scenarios to consider over the short-term, intermediate, and long-term
• Select examples of key questions to answer to help uncover opportunities and risks
• Apply tips for finding commonalities across scenarios, which can help prioritize areas of focus
• Evaluate effective ways to engage people from various backgrounds to enrich the conversations and bring different perspectives
• Determine considerations for financial modeling

Are there audit issues that keep you up at night? Auditing issues that scare you or are the cause of your "auditing nightmares"? Then you've come to the right session. In this session we will discuss audit issues that are difficult to address with solutions to your auditing nightmares. These two seasoned auditors will share their experiences on old and new audit issues that go bump in the night.

Learning Objectives:

• Determine how to identify problematic audit issues and best practices for resolution
• Assess best practices in the remote audit environment - examples of what can you do better to make it work at least a little better
• Recognize assumptions that impact your audits

Banking the cannabis industry since 2014, Salal Credit Union has supported it's members and community by providing safe and sound financial products to this thinly served industry. As the business has expanded, the Credit Union has continued to evolve it's services to members. Just as importantly, Salal works with it's examiners to ensure regulatory, reporting, and risk management concerns are adequately addressed.

Learning Objectives:

• Recognize why Salal Credit Union made the decision to bank the cannabis industry
• Identify regulatory issues banking the cannabis industry
• Analyze risks and opportunities in servicing the industry

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).

Learning Objectives:

• Evaluate the implementation observations from 2020 adopters
• Analyze management’s responsibilities and auditor’s considerations for internal control & governance, sources of risks of material misstatements, presentation & disclosure and communications with respect to the CECL standard
• Recognize accounting issues addressed by the FASB’s TRG and AICPA’s FinREC

The fraud environment is dynamic in that it's always changing. Fraudsters come up with new sophisticated ways to steal money from credit unions and their members while still relying on age-old methods. Join this session as Ken Otsuka, CUNA Mutual Group Senior Consultant, Risk & Compliance Solutions, shares valuable insights on fraud trends and mitigating risk. This session will help attendees understand the "how" behind the latest trends.

Learning Objectives:

• Determine how fraudsters use sophisticated social engineering tactics in the Zelle/P2P fraud scam
• Recognize how the business email compromise scam is causing 7-figure wire fraud losses for credit unions
• Identify the latest check fraud schemes plaguing credit unions today

Interest Rate Volatility Fears - Is now the right time to add derivatives to your risk management toolbox? Here's why this is a good idea—and how to get started. We will cover the basics of hedge accounting including derivative mechanics, hedge accounting elections, effectiveness assessments, SOFR readiness and recent developments.

Learning Objectives:

• Analyze the benefits of using derivatives to mitigate interest rate risk
• Recognize some common credit union strategies
• Identify the basics of hedge accounting

Hear perspectives from Associate Director Viki Nahrwold, from the Office of Examination & Insurance, on credit union trends during the pandemic, upcoming changes to examination tools, what’s on the horizon for your credit union and gain valuable insight into the NCUA proposed and enacted regulations that occurred during 2021.

Learning Objectives:

• Assess credit union trends during the pandemic
• Identify upcoming changes to examination tools
• Determine what’s on the horizon for your credit union
• Recognize and gain valuable insight into the NCUA proposed and enacted regulations that occurred during 2021

Customer expectations are rapidly evolving and disruptive competitors are targeting your most profitable customer relationships. In this new environment, the Anticipation Economy, credit unions must renew their focus on customer experience and the integration to deliver the right offer to the right customers at the right time.

In this session, we discuss the implications of this new way of thinking and how credit unions can thrive. We examine the impact of CECL's forward-looking, granular credit insights on multiple components of profitable growth, and how this changes the way accountants (FP&A, controllers, treasury, balance sheet management & capital planning) support the credit union's competitive objectives. The discussion includes ways to reimagine collaboration between Treasury, Credit, Accounting and Finance functions in response.

Learning Objectives:

• Recognize and articulate the impact of CECL insights on related processes (treasury, ALM, FP&A, capital planning)
• Assess key areas of focus for post CECL gap analysis and process transformation

While there are many forces shaping today's banking industry, there are three that credit union executives need to understand and act upon today: 1) the diminishing role of the checking account; 2) how challenger banks are winning new customers; and 3) the emergence of embedded finance and embedded Fintech.

Learning Objectives:

• Assess how consumer behavior is changing
• Recognize the new competencies credit unions must buil

Despite the pandemic related challenges faced during the last year and a half, credit unions continue to seek opportunities to supplement organic growth. Credit union to credit union mergers have continued at a steady pace, while the size of banks acquired by credit unions is increasing. Credit unions are also strategically acquiring other types of companies which support their member service delivery expansion. A panel experienced in credit union acquisitions will look at strategic, financial, and accounting considerations for acquisitions, while sharing examples of subsequent challenges and performance vs. expectations.

Learning Objectives:

• Recognize the types of acquisitions that credit unions are making and the strategic considerations
• Identify post-acquisition challenges and how opportunities can be leveraged

Changes to Regulation 715.7 have been in effect since January 2020 with the accompanying Minimum Procedures Audit Guide. Join the band of Moulton, Vargo, and Clark to hear how engagements are handled using the guide, practical approach to income & expense testing and other new areas of testing, and how the new SSAE No. 19 has impacted the guide.

Learning Objectives:

• Analyze and review procedures under the new guide
• Identify questions regarding testing procedures during Q&A

Our panel of credit union chief financial officers, from credit unions ranging in size from $600 million to over $13 billion, will share their stories of resilience during the pandemic and the strategic issues they continue to face. Whether it's automation and artificial intelligence, cybersecurity, margin compression, loan demand, balance sheet leverage and capital management, mergers, or CECL, this group of professionals will provide insight into how their organizations are managing through all of these issues.

Learning Objectives:

• Recognize and increase your understanding of the strategic issues facing credit unions today
• Assess and broaden your knowledge of the strategies credit unions are employing to address these issues

While there are many forces shaping today's banking industry, there are three that credit union executives need to understand and act upon today: 1) the diminishing role of the checking account; 2) how challenger banks are winning new customers; and 3) the emergence of embedded finance and embedded Fintech.

Learning Objectives:

• Assess how consumer behavior is changing
• Recognize the new competencies credit unions must buil