In this session, Dr. Marci Rossell separates fact from fiction on the potential impact businesses can expect from coronavirus (COVID-19). Marci outlines the current state of the economy, explaining government relief packages, including the CARES Act, and the aid needed for natural disasters. Explaining the source as a healthcare problem, rather than an economic issue, she analyzes past events (think SARS and MERS epidemics) to predict the economic effects, such as postponed spending, job loss, and a decreased value of retirement savings.

She highlights that this outbreak is symptomatic of a larger trend: that businesses today face a variety of seismic surprises. Cyberterrorism, environmental disasters, swings in the regulatory regime, and, yes, epidemics like COVID-19 can all impact interest rates, yield curve, and profitability of financial institutions.

Learning Objectives:

• Analysis of the state of the economy
• Identify how businesses can plan for unforeseen events today and in the future
• Recognize the impact of natural disasters like COVID-19 on financial markets and institutions

A critical issue is to address inequality in our country. Join our panel to hear from prominent leaders about their perspectives on next steps forward.

Learning Objectives:

• Analyze the past, current and future environment
• Evaluate next steps to move forward to address inequality and finds productive steps forward

Join this session to hear the Securities and Exchange Commission‘s Chief Accountant, Sagar Teotia, and Deputy Chief Accountant - Accounting, John Vanosdall, discuss accounting, financial reporting, and other matters impacting the banking industry.

Learning Objectives:

• Assess the priorities of the SEC’s Office of the Chief Accountant
• Evaluate emerging accounting and financial reporting issues impacting public companies
• Analyze domestic and international matters for public companies

This session will provide an update on PCAOB standard- setting activities, inspection observations and PCAOB’s response to the COVID-19 environment.

Learning Objectives:

• Assess the current standard- setting activities and inspection observations
• Evaluate implementation of adopting new auditing standards, including estimates, specialists and critical audit matters (CAMs)
• Interpret feedback from audit committee chairs based on PCAOB outreach

Cybersecurity was a key focus area for financial institutions even before COVID-19 hit. It’s even more critical now. This year’s Deloitte and FS-ISAC survey reveals why companies may need to prioritize and invest in more cyber programs.

With cost reduction likely to gain importance, actions taken to reduce operational costs should be evaluated carefully for their cybersecurity implications. Companies should consider corrective measures to ensure that cost reduction initiatives do not expose them to additional cyber risks, such as insider threats.

Learning Objectives:

• Evaluate key steps to addressing cybersecurity issues
• Assess protocols for securing environments in the next normal environment
• Determine what makes a cyber program successful, including benchmarks regarding spend, operating model and reporting practices

In this session, we will discuss the adoption of CECL in this time of unusual economic stress, including the challenges of applying the standard when the economic forecast is uncertain.

Learning Objectives:

• Describe observations on the adoption of CECL and the implementation of the standard during the coronavirus crisis
• Discuss key challenges including the accounting, use of models, data and qualitative reserves
• Describe lessons learned from the adoption

The Division of Corporation Finance (Corp Fin) and the OCA have been very responsive to financial reporting matters related to COVID-19. Join this session for those developments and priorities of Corp Fin and the OCA regarding banking.

Learning Objectives:

• Assess filing review observations, including those specific to COVID-19, and responses specific to banking
• Analyze rule-making initiatives update and next steps

There are effective tactics worth examining and executing in today’s rate environment and economic landscape. But don’t get comfortable that you have set a strategy simply by executing tactics. Scott Hildenbrand, Head of Balance Sheet Analysis and Strategy, will cover a series of current themes including liquidity, balance sheet efficiency, securities, derivatives, and capital. The discussion will focus on advantageous tactics and longer-term strategy while highlighting the asset/liability sensitivity and impact to quality or quantity of earnings.

Learning Objectives:

• Distinguish the difference between a tactic and a strategy and why planning for both will benefit your institution
• Evaluate the benefits of quality vs. quantity of earnings and how to tell the difference
• Discover how to protect against rate moves and position your institution for success in different rate environments

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 institutions. Join finance experts from Kaufman Hall, Community Trust Bancorp, Inc., and Triumph Bancorp, Inc. for their perspectives on how to maximize the effectiveness, efficiency, and value of the budgeting, planning, and forecasting processes at your institution. 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.

Attendees will see these benefits: 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 institution to streamline and enhance your processes.

Learning Objectives:

• Describe processes and best practices on budget and variance reporting
• Discover tips for creating a smooth process to handle non-interest expense planning, including operating expenses, capital expenditure requests, and salary planning
• Discuss challenges, value, and best practices related to balance sheet and margin planning

The adoption of CECL was made more eventful by the unprecedented economic situation. Models and processes were put to the test in unanticipated ways. Out of all this, what can be learned to help navigate the next year and beyond?

Learning Objectives:

• Discuss the transition to CECL
• Identify ACL challenges faced due to the macroeconomy
• Summarize Qualitative Adjustments for COVID-19
• Discuss reports and disclosures
• Examine what the future holds

Join us for a change in format. This moderated led session will share recent developments in response to the COVID-19 pandemic as well as current perspectives from the agencies. Topics include observations on the allowance (both ALLL and ACL), loan modifications, Paycheck Protection Program (PPP), Main Street Lending Program, impairments and other financial reporting observations.

Learning Objectives:

• Evaluate the regulatory financial reporting and supervisory policy developments, including developments regarding COVID-19
• Analyze the perspectives on on the implementation of accounting standards, including CECL

Join this session to have your questions answered on topics including observations on the allowance (both ALLL and ACL), loan modifications, Paycheck Protection Program (PPP), Main Street lending, impairments and other financial reporting observations.

Learning Objectives:

• Evaluate the answers to regulatory financial reporting and supervisory policy developments, including developments regarding COVID-19
• Analyze the answers to perspectives on on the implementation of accounting standards, including CECL

The FASB has responded to financial reporting implications of COVID-19 and stands ready to respond as issues unfold. Over the past decade, the FASB has completed several major projects. How is the FASB monitoring implementation and responding? With many of the major projects completed, where will the FASB turn next? Will we see the return of goodwill amortization?

Learning Objectives:

• Analyze the FASB’s response to COVID-19, including changes to effective dates and FASB staff Q&As
• Evaluate how the FASB is monitoring implementation, including CECL
• Assess the current and future standard-setting agenda

While navigating short-term physical return-to-office issues, many organizations are simultaneously looking to reimagine the future of work. There is an opportunity to capitalize on this moment to reimagine organizations and redefine the way they operate. This session will provide attendees with perspective on several key issues organizations are facing, including enabling new ways of working, reimagining real estate and addressing implications of cross-border remote working.

Learning Objectives:

• Identify key considerations for the future of work
• Discover how to approach these challenges and where to start
• Assess important tax and regulatory considerations for a remote, cross-border workforce

This session will provide an overview of the new requirements for auditing accounting estimates and disclosures, including fair value measurements, and the auditor’s use of specialists, including management’s specialists and specialists employed and engaged by the auditor, including indirect impacts on management and staff involved and responsible for the preparation of the financial statements. The presenters will provide an update and lessons learned for reporting critical audit matters, including trends in the banking industry.

Learning Objectives:

• Summarize highlights of the significant changes, related to auditing accounting estimates and use of specialists, and considerations for both auditors and management
• Discover lessons learned in 2020 related to critical audit matters, including trends in the banking industry

This session will provide attendees with an overview of COVID-19 tax developments impacting the financial services industry and will be presented in terms that the non-tax-professional can understand. Topics to be discussed include a summary of the CARES Act tax provisions, including tax planning strategies resulting from its enactment, an analysis of the GAAP and regulatory impact of these tax law changes and a summary of significant industry issues, including the impact of certain acquisition structures on the tax-exempt status of bank-owned life insurance (“BOLI”).

Learning Objectives:

• Recognize how recent CARES Act tax law changes impact the financial services industry
• Identify potential CARES Act tax planning opportunities that can add to the bank’s bottom line
• Discover which common bank acquisition structures may negatively impact the tax-exempt status of acquired BOLI policies and identify potential structural planning alternatives that may avoid these concerns

In this session we will discuss the impact of payment deferrals, forbearance and other loan assistance programs on your 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.

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, new coronavirus cases continue to rise, suggesting the potential for localized measures that may slow otherwise re-opening economies.

Learning Objectives:

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

Everyone agrees that the mood across America is changing rapidly. We seem to be entering a new period of national urgency, and perhaps even global crisis, with new worries about financial collapse, nuclear proliferation, terrorism, and global instability. In his 1997 book, The Fourth Turning, Neil Howe predicted that this was just where America would be today. With his co-author, William Strauss, he uncovered a remarkable pattern in American history, a cycle of recurring eras driven by generational changes. 

Learning Objectives:

• Discover Howe’s proven historical method that truly explains where America is today—and, more importantly, where it is heading, from the economy and consumer tastes to politics and popular culture.

With the current environment, we have a variety of challenges and unknowns. Hear from community banks about issues that are top of mind – and how their banks are tackling them!

Learning Objectives:

• Assess current financial reporting and operational issues facing community banks including loan modifications, Paycheck Protection Program (PPP), Main Street and impairment evaluations
• Analyze the impact on the ACL/ALLL
• Evaluate changes in operations due to COVID-19 and the next normal

We are navigating a variety of challenges and unknowns with the current environment. Hear from mid-sized banks about issues that are top of mind – and how their banks are tackling them!

Learning Objectives:

• Assess current financial reporting and operational issues facing mid-sized banks including loan modifications, Paycheck Protection Program (PPP), Main Street and impairment evaluations
• Evaluate changes in operations due to COVID-19 and the next normal

Are we still on track? Reference rates, or Interbank Offered Rate (IBORs), such as the London Interbank Offered Rate (LIBOR) are widely used in a broad range of financial instruments and other agreements. Regulators in various jurisdictions have undertaken efforts, referred to as reference rate reform, to eliminate certain reference rates and introduce new reference rates or replacement rates. With COVID-19, did we hit pause, hit a speed bump or are we still on track?

Learning Objectives:

• Evaluate accounting and tax implications of reference rate reform
• Assess potential resolution and timing

Join this moderator-led discussion for key topics impacting community banks, including loan modifications, Paycheck Protection Program (PPP), Main Street lending, allowances and impairments – just to name a few.

Learning Objectives:

• Apply the financial reporting developments for community banks
• Assess issues being discussed by the AICPA's Depository Institutions Expert Panel (DIEP)

The current environment presents a variety of challenges and unknowns. What is top of mind of the controllers and accounting policy experts from the mega banks? What are the most significant financial reporting issues in the current COVID-19 environment?

Learning Objectives:

• Apply the financial reporting developments for the largest banks
• Assess issues being discussed by the AICPA's Depository Institutions Expert Panel (DIEP)

With the third quarter in the rearview mirror, what should be top of mind heading into the fourth quarter? This session will provide the latest perspective on the current COVID-19 environment from the perspective of the agencies. Topics include observations on the allowance (both ALLL and ACL), loan modifications, government programs (e.g., Main Street lending), impairments and other financial reporting observations.

Learning Objectives:

• Analyze and apply supervisory policy developments
• Evaluate financial and call reporting considerations for year-end

This session will cover multiple aspects of COVID-19 Loan Modifications, including aging, nonaccrual and allowance considerations. The discussion will also consider the accounting for loans that need new or additional modifications as banks navigate through the pandemic.

Learning Objectives:

• Determine and compare the accounting for COVID-19 loan modifications
• Identify allowance considerations for COVID-19 loan modifications
• Analyze TDR considerations for re-modifications

This session will delve into the unprecedented nature of the economic crisis and the implications for the economic and market outlook. The session will also examine the economic implications of the presidential election for economic and trade policy.

Learning Objectives:

• Recognize why the current crisis has more in common with a natural disaster than a business cycle and why that matters
• Examine the most useful way to track the evolution of the economy

This session will go through a number of topics of interest as Banks and Savings institutions and their auditors prepare for year-end financial reporting. Topics include loan modifications, allowances, other impairment considerations and reference rate reform. It will also provide some important year-end reminders on controls and year end disclosures.

Learning Objectives:

• Explain how key topics since the September conference have evolved
• Apply the accounting guidance for certain impairment models and reference rate reform
• Evaluate financial reporting matters for year-end closing