Conference Agenda

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The National Credit Union Supervisory Committee Conference is full of timely sessions packed with fresh ideas and innovative solutions to the issues facing today’s credit unions.

Thursday, January 21, 2021

PreConference Workshop: Financial Literacy for Supervisory Committee Members and Directors

Presented by: Wayne Watters, Denver Regional Manager, Waypoint Security Advisors, Inc.

($249 additional)

Since the passing of NCUA’s final rules 701.4, General Authorities and Duties of Federal Credit Union Directors, it is expected that the overall financial knowledge of your credit union’s Supervisory Committee members and Board of Directors has increased.

As a result of its passing, many Directors took a one-time online course to satisfy the regulation, but can you say your basic understanding of your credit union was enhanced? With interest rates in flux and earnings being squeezed, we have entered a period where the accountability for operating results falls on Directors and Supervisory Committee members. Yet many do not understand the effects of interest rate risk to the balance sheet.

As a reminder, the rule specifically states:

“Each Director has the duty to . . . have at least a working familiarity with basic finance and accounting practices, including the ability to read and understand the CU’s balance sheet and income statement and to ask, as appropriate, substantive questions of management and the internal and external auditors . . .”

During this PreConference, we will go well beyond the basics by attempting to develop a deeper understanding of your credit union's financial performance. Each participant will have an opportunity to review their own, credit union-specific, set of Financial Performance Reports (FPRs) and calculate certain key ratios.

11:30 a.m. - 1:00 p.m.

PreConference Registration

(Those attending the main conference are welcome to register at this time as well)

1:00 – 1:15 p.m.

Opening Remarks

1:15 – 2:30 p.m.

PreConference

2:30 – 2:45 p.m.

Networking and Refreshment Break

2:45 – 4:15 p.m.

PreConference Continued

4:15 - 4:30 p.m.

PreConference Wrap Up

Thursday, January 21, 2021

Schedule subject to change. Registered guests are welcome during these (GP) credit union conference events.

5:00 - 6:00 p.m.

Conference Registration

6:00 – 7:00 p.m. (GP)

Welcome Reception

Join us for cocktails, light dining, and great conversation. Registered guests are welcome to attend.

CU Conferences is grateful for the support of its sponsor, OM Financial, and would like to thank them for co-sponsoring the reception. Learn more about OM Financial.

Friday, January 22, 2021

8:00 – 9:00 a.m. (GP)

Sit-Down Breakfast

Join us for a hearty sit-down breakfast. Registered guests are welcome to attend.

9:00 – 9:15 a.m.

Opening Remarks

9:15 – 10:15 a.m.

How to Prepare for a Regulatory Examination

Barry Lynch, Compliance Officer, Co-Founder/CEO, Waypoint Advisory Services, Inc.

This session will include a step-by-step guide to regulatory exam preparation, focused on directors, but with tips to take back to your staff. Presenter Barry Lynch served as an NCUA examiner for the first part of his career, and now serves as the CEO of a small credit union. Barry will share his perspective from both side s of the desk. Oh, and what about COVID? What about those now audit standards for credit unions under $500MM. Barry will slip in a few slides on both topics to make sure you go away with everything you need for a successful examination in 2021.

10:15 – 10:30 a.m.

Networking and Refreshment Break

10:30 – 11:30 a.m.

Internal Audits: Risks, Controls and Compliance

Cynthia Day, CPA, CUCE
Director of Internal Audit, ALCO, ERM and CUNA Advisory Board
People's Trust Federal Credit Union

Internal audits are very important in preparing an organization for successful audit engagements and examinations. They assist in identifying and mitigating the areas of risks within any organization.

The internal audit plan should be comprehensive to assess risks, test internal controls, and validate regulatory compliance. Cynthia will lead a discussion on how to leverage internal audits and its key elements in your credit union to avoid potential pitfalls.

You will gain an understanding of:

  • How to identify key audit areas and perform risk assessments

  • How to test, strengthen, and leverage internal controls

  • How to develop a risk-based internal audit plan and discuss the audit cycle

  • How regulatory compliance is an important part of managing risks

  • What is the most effective way to follow up on audit deficiencies to avoid pitfalls

11:30 a.m. – 12:30 p.m.

Your Credit Union Beyond 2020: Top Seven Drivers of Success

Sundeep Kapur, Founder
Digital Credence

You are in the business of helping consumers with their financial journeys. You are also seeing a paradigm shift in the way your members interact with you. Your competition is relentless and regulation abounds. Consumer expectations are being driven by innovation. And, all along your financial institution needs to be profitable.

Seven critical elements are going to define your foundation for success beyond 2020:

1. Transformed Branch Experiences – How can you draw members in for advisory versus transactional services? How do you get your members to transact online? Can you transform member experiences across channel?

2. Redefined Future Payments – What can you do to leverage payments to acquire more members, increase share of wallet, and earn more than just interchange income? How can you leverage payments to become their PFI? Does your payments strategy include money movement?

3. Digital: Integrated & Responsive – Is your future digital strategy incorporating all you need for a complete digital ecosystem? Is digital giving you the competitive edge you deserve? Is your credit union capable of delivering on the mantra of digital first?

4. Security: Authentication, Transactions, Information – What would it take to create an omni-channel shield? Where are you most vulnerable? How can you deliver on an assurance of convenient biometric safety to the member and your team members?

5. Smarter Employees & Channels – How are you training your channels, especially your people channels? Is your training effective? What would it take to enable your people channel to become empathetic and knowledgeable technology and financial counsellors?

6. Big Data, Decision Science, & the Cognitive Cloud – How can your financial institution leverage the success of big data and analytics? What do you do with this data? How do you create an internal and external data culture and truly measure success?

7. Banking Delivered in Your Pocket – What would it take to create a completely mobile experience? What five components do your members expect you to deliver on their mobile device? Your future is literally in your hand.

12:30 – 1:30 p.m. (GP)

Group Luncheon

Join us for lunch. Registered guests are welcome to attend.

1:30 – 2:30 p.m.

Cybersecurity and the Remote Workforce - What to Expect from Cyber Criminals and Fraudsters

Randy Romes, Principal/Information Security
CliftonLarsonAllen

The COVID-19 crisis has placed significant pressure on credit unions as we move from a 15% remote work force to a greater than 80% work force. As we all work to adjust business processes and member service, so too are the cybercriminals working to adapt new hacking and fraud techniques. This session will explore the latest information on new/changed hacking and fraud techniques that have arisen because of the COVID-19 pandemic, along with strategies to mitigate the changing risks and threats.

Session Highlights:

  • Remote access applications

  • Changes in spear phishing cyber-attacks against a remote work force

  • Security of devices and home networks

  • Considerations for how to continue key credit union processes in a remote/virtual environment

2:30 – 3:30 p.m.

Bank Secrecy Act (BSA) and Anti Money Laundering (AML) for Directors

Wayne Watters, Denver Regional ManagerWaypoint Security Advisors, Inc.

We know NCUA requires BSA/AML training, but what do you really need to know? Has anything changed since the law was passed in 1970?

Join Wayne at this informative session and find out what this ex-NCUA examiner and former credit union CEO have to say about it.

Certificate of Completion will be delivered after the conference

3:30 – 3:45 p.m.

Daily Wrap-Up

Saturday, January 23, 2021

8:00 – 9:00 a.m. (GP)

Sit-Down Breakfast

Join us for a hearty sit-down breakfast. Registered guests are welcome to attend.

9:00 – 9:05 a.m.

Opening Remarks

9:05 – 10:05 a.m.

COVID-19 and Cybersecurity - IT Cybersecurity Risk Assessment Fundamentals, Pandemic Business Continuity and Cybersecurity Incident Response

Randy Romes, Principal/Information Security
CliftonLarsonAllen

We will discuss key considerations for revisiting risk assessments along with addressing NCUA letter 20-Risk-01: Cybersecurity Considerations for Remote Work, revisit the strategic need for up-to-date and ongoing business continuity planning, and cybersecurity incident response.

Session Highlights:

  • NCUA letter 20-Risk-01: Cybersecurity considerations for remote work

  • BCP lessons learned during COVID-19 pandemic

  • Contributing factors in Office 365 breaches

  • Characteristics of the “Cybersecurity Kill Chain”

  • Strategies to test your credit union's incident response program

10:05 – 10:20 a.m.

Networking and Refreshment Break

10:20 – 11:20 a.m.

To Protect and Serve

Sundeep Kapur, Founder
Digital Credence

The vulnerabilities at credit unions are increasing for a number of reasons, including targeted attempts by hackers, emerging cloud infrastructures, a high volume of consumer transactions, staff errors, internal and friendly fraud, and a dramatic increase in the number of devices that can access information.

We have to find a balance between good service, dynamic personalization, and a high level of security. This session will share multiple case studies of crime that take advantage of financial institution vulnerabilities. We will also cover current legislation, emerging legislation, and how crypto-currency is helping ransomware. Additionally, we will discuss strategies to protect core data, systems, apps, processes, and our cloud infrastructure.

11:20 a.m. – 12:20 p.m.

New Reg - CECL for Small and Simple Credit Unions - How to Comply Without Going Broke

Barry Lynch, Compliance Officer, Co-Founder/CEO, Waypoint Advisory Services, Inc.

During this session, we will review CECL methodologies, and demonstrate a Vintage Analysis model designed for small and simple credit unions. This excel-based model can be updated in-house using nothing more than Call Report Data and an AIRES download. Did we mention the model is available for free?

12:20– 12:30 p.m.

Daily Wrap-Up

Take the Afternoon & Evening to Enjoy the Sites, Sounds & Flavors of Monterey!

Sunday, January 24, 2021

Travel Day. Have a safe trip home!