CECL is fast approaching in 2023 and Credit Unions should be basically ready. Are you? We have been talking about CECL for a decade and finally, adoption day is approaching. Has your institution been running a model during 2022? Have you considered all the other aspects around CECL implementation including the three lines of model, policies, and maturity of risk governance?

Register here for the online workshop

$245

https://www.aicpa.org/cpe-learning/conference/cecl-three-lines-of-defense

Learning Objectives:

• Determine how to prepare for CECL audit and examination
• Analyze exposure to risk governance models

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.

Learning Objectives:

• Analyze current economic, demographic and policy trends that directly or indirectly impact credit unions' financial performance.
• Identify high-risk credit unions' financial and accounting areas that are specially vulnerable in this uncertain and highly complex economic environment.

What is new in the world of financial reporting for credit unions? During the past year, the FASB has focused on addressing priority issues identified by stakeholders—including the credit union industry--as part of its 2021 agenda consultation project. For CECL, we will cover FASB’s final standard on loan modifications and vintage disclosures, and its project on acquired financial assets. What are current FASB projects relevant to credit unions and is up next for the FASB? 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 progress on priority topics identified by stakeholders during the FASB’s 2021 agenda consultation process
• Determine next steps in the FASB’s agenda and impact on credit unions
• Apply the latest developments on accounting and financial reporting for credit unions

Bring your questions for the continued discussion of what is new in the world of financial reporting for credit unions. During the past year, the FASB has focused on addressing priority issues identified by stakeholders—including the credit union industry--as part of its 2021 agenda consultation project. For CECL, we will cover FASB’s final standard on loan modifications and vintage disclosures, and its project on acquired financial assets. What are current FASB projects relevant to credit unions and is up next for the FASB? 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 progress on priority topics identified by stakeholders during the FASB’s 2021 agenda consultation process
• Determine next steps in the FASB’s agenda and impact on credit unions
• Apply the latest developments on accounting and financial reporting for credit unions

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...

Learning Objectives:

• Distinguish the differences between a decentralized coin and a stablecoin
• Recognize areas that credit unions can (and can't) participate in digital assets
• Identify 5 "next steps" credit unions can be doing today

Join us for a networking reception, sponsored by Deloitte, immediately following today's last session in the Premier Ballroom Foyer.

Here is the harsh reality: Past success proves that you were right … once. If you were successful at attracting, retaining, and engaging talent in 2019, congratulations. You know what used to work.

Shifts in demographics, values, and competition are redefining availability and expectations for the talent you need to flourish. In this fast-paced and thought-provoking keynote presentation, Randy Pennington shares the mindset and strategies you can use today to make your organization a talent destination for the best and brightest.

There is no more new normal. There is only a New Next. Your ability to navigate and leverage the needed changes in your workplace will be the difference between continued excellence and irrelevance.

Learning Objectives:

• Assess the four factors that determine if you are a talent destination and ideas about how to implement them in your organization
• Evaluate the biggest barriers that you must overcome to become a talent destination
• Determine how to adjust your personal leadership style and approach to make you more effective

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.

Learning Objectives:

• Recognize relevant and trending enterprise risks, and evolution of risk management.
• Identify mitigating controls that will enhance your ability to manage risk effectively.

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.

Learning Objectives:

• Evaluate NCUA’s priorities and concerns in executing its safety and soundness program
• Identify the risks and responses to threats to the credit union industry
• Recognize NCUA’s tools and examination approaches to promote a safe and sound credit union system

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. 

Learning Objectives:

• Identify amendments to standards and the impacts to our audits
• Recall recently released proposal stage literature
• Recognize ongoing projects

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.

Learning Objectives:

• Indicate areas of examiner focus and regulatory changes on the horizon, and their impact on your credit union.
• Identify ways to prioritize regulatory compliance risks.
• Distinguish best practices for developing an ongoing regulatory compliance strategy.
• Recognize and gain knowledge on today’s evolving regulatory areas.

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.

Learning Objectives:

• Identify board/policy expectations related to permissible instruments, position and counterparty limits, and reporting processes
• Determine how to devise organizational structure to support the derivative platform as a whole
• Analyze formulation of various hedging strategies and their balance sheet and income statement impacts
• Assess real world hedging case studies recently performed by credit union peers
• Identify practical strategies that could be utilized in respective institutions

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:

• Analyze the implementation observations from previous years
• Determine 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.
• Identify accounting issues addressed by the FASB’s TRG and AICPA’s FinREC

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.

Learning Objectives:

• Analyze current market conditions and factors impacting the economic outlook
• Identify the role of risk-adjusted return modeling in a disciplined asset pricing process
• Distinguish the importance of funding in sustainable financial performance
• Determine how hedging with derivatives can help reduce risk to earnings and value

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.

Learning Objectives:

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

Has your credit union or auditee delved into new programs that may provide accounting challenges to your staff or auditors. Such areas may include: mortgage servicing, leases, deferred compensation plans, and more. With these new programs there may be certain accounting or auditing steps that can be missed. In today's session we will cover some of these more complex accounting and/or auditing areas and explore ways to ensure proper accounting and reporting is performed.

Learning Objectives:

• Identify challenges with some current accounting and reporting
• Analyze ways to audit specialized accounting issues
• Determine solutions to enhance efficiencies in audit and accounting

Although the interest rate environment has changed rapidly, depositories with a disciplined asset-liability management framework are best suited to weather the storm. Learn practical strategies for building a balance sheet that is resilient in any rate environment.

In part two of this cautionary two-part session, experts will highlight key considerations of a disciplined asset model, compare funding alternatives, and identify practical applications of hedging strategies to manage and enhance margins. Learn how to build a management process that gets buy-in across departments to effect meaningful improvement in financial performance.

Learning Objectives:

• Identify critical areas of refinement for dependable asset pricing models Evaluate marginal cost across various funding strategies
• Analyze marginal cost across various funding strategies
• Differentiate applications of hedging to stabilize financial performance

Learn from some of the day's speakers as they address audience questions related to government, public sector, and not for profit entities.

Learning Objectives:

• Recall recent NCUA’s priorities and concerns in the current economic environment and NCUA's regulatory agenda
• Recall changes to NCUA Regulation 715.7 and the Minimum Procedures Audit Guide to improve the clarity and efficiency of the engagements.
• Recall progress of the AICPA CECL task force toward the issuance of the AICPA CECL Audit and Accounting Guide

Three hours of golfing, food & drinks, and connecting with your fellow Credit Unions conference attendees in a casual setting. Just steps away from the MGM Grand conference center. Want to know what Topgolf offers? Find out more information here. 

Location:

Topgolf Las Vegas is located off of Koval Lane at MGM Grand Hotel & Casino on The Strip. More detailed information and step by step directions can be found here. 

As organizations strive to increase revenue and grow their business to reach a new generation of customers, there are evolving business enablement projects underway to transform the digital customer experience, modernize core IT systems, and accelerate cloud adoption to compete more effectively in the market, all while driving efficiencies and managing costs. At the same time, there are several business challenges to be addressed, such as financial regulatory compliance requirements, M&A activity, operating increasingly complex IT ecosystems with distributed operations, managing remote workforces, and third-party supply chain risks. These dynamics have created a growing need to deploy cybersecurity and risk management programs that address the evolving threat landscape, associated business risks, and the growing cyber regulatory landscape.

Is your organization addressing these matters? Are you effectively preparing for the proposed SEC Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure Proposed Ruling? Is your organization concerned about the increasing cost and the business impact of a data breach?

During this session, we will provide an overview of the cyber threat landscape and latest tech trends, industry-wide and financial/accounting challenges and drivers affected by those trends, some specific business outcomes that an effective cyber security program can enable, and the evolving cyber regulatory environment and what it means for your business and your role as a non-security leader.

Learning Objectives:

• Examine the cyber threat landscape and latest tech trends, industry-wide and financial/accounting challenges, and drivers affected by those trends
• Determine the key business outcomes that an effective cyber security program can enable
• Recognize the evolving cyber regulatory environment and what it means for your business and your role as a non-security leader

In this session we will discuss the needs credit unions have with regards to continued evolution as consumer demands shift, and new competition arises. We've entered an age of "engagement banking" where technology and fintech can be used to bring credit unions closer to member needs. The landscape is changing and so most you. 

Learning Objectives:

• Identify the new competition facing the credit union industry
• Recognize how you can leverage fintech and technology to win the hearts and minds of members

We will discuss how mergers (including bank acquisitions) fit into your credit union's overall growth to assist in readiness for a transaction when it arises.  This includes defining and prioritizing the criteria for partner fit.  We will also review the merger lifecycle, especially the early stages through merger agreement including due diligence.

Learning Objectives:

• Recognize how to be prepared for a merger when it arises, they are opportunities that can't be timed.
• Indicate how bank acquisitions fit into overall growth strategies -- what are the pros and cons
• Identify the goals and key focus areas for diligence. With economic uncertainty, due diligence takes on more importance.

Can you outwit the experts? Here is the chance to challenge industry experts with those technical questions that have been driving you crazy this past year. So please bring those troubling questions and see if you can stump your colleagues.

Learning Objectives:

• Analyze technical accounting and auditing issues facing the credit union industry today.
• Identify insights into the different interpretations of complex accounting guidance.

With CECL implementation for most credit unions required soon, this session will provide updated information, guidance and recommendations to help credit unions finalize their preparations.

Learning Objectives:

• Analyze CECL preparation benchmarking information
• Identify implementation guidance & recommendations
• Determine qualitative and economic factors

Our panel of credit union executives, from institutions across the country, will share their stories of resilience post-pandemic and the strategic issues they are now managing in the face of record inflation, rising rates, and high likelihood of recession. Whether it's automation and artificial intelligence, cybersecurity, net interest margin, loan demand, operating expenses, resource constraints, balance sheet leverage and capital management, or mergers, this group of professionals will provide insight into how their organizations are managing through all of these issues.

Learning Objectives:

• Identify the breadth of strategic issues facing today's credit unions
• Analyze how institutions are actively managing through the challenges of this current economic environment