COMPLIANCE Conference

Transcription

1 COMPLIANCE Conference NOVEMBER 6-7 Richmond embassy suites $159 per day, per person Topics Regulatory Update Bank Secrecy Act Updates Truth In Lending Truth in Savings Current Expected Credit Loss (CECL) From a Compliance Perspective Conducting a Compliance Review Check Primer & the Compliance Issues Surrounding Checks Marketing & Advertising Compliance

2 SCHEDULE TIME SESSION SESSION LEADER NOVEMBER 6 9:00 AM Registration Continental Breakfast served 9:15 AM Beth Waller, Esq. 11:15 AM Break 11:30 AM Regulatory Update Jim McKell, Esq. 12:30 PM Lunch 1:30 PM BSA Overview and Update Kristen Tatlock 3:30 PM Break 3:45 PM Truth In Lending / Truth In Savings Updates Jim McKell, Esq. 5:00 PM Adjourn 5:30 PM Networking Social with Open Question Forum NOVEMBER 7 9:00 AM Registration Continental Breakfast served 9:15 AM Current Expected Credit Loss (CECL): What You Need to Know From a Compliance Perspective Mike Umscheid (CEO) ARCSys 10:15 AM Conducting a Compliance Review Kristen Tatlock 11:15 AM Check Primer & the Compliance Issues Surrounding Checks Jim McKell, Esq. 11:45 AM Lunch 12:45 PM Marketing / Advertising Compliance Kristen Tatlock 3:00 PM Adjourn You Have Access to the CUNA Compliance Community! As a benefit of your CUNA membership, you can connect, converse and collaborate in the CUNA Compliance Community including CompBlog, file sharing, checklists and tools, and a peer-to-peer discussion board covering hot topic compliance. Sign up for CUNA Compliance Community today at

3 SESSIONS Day 1 From Facebook fall-out to European Union regulations, both data privacy and cybersecurity are increasing in visibility and scope. As technology continues to evolve, is your organization managing data securely? This session with attorney Beth Waller, chair of the Practice at Woods Rogers, PLC, will examine the current state of cybersecurity measures and privacy regulations and their impact on organizations large and small. Regulatory Update As an extension of the League s Compliance Hotline service, Jim McKell will present a broad overview of the last year s regulatory changes as well as a look ahead. BSA Overview and Update This session will provide an overview of Bank Secrecy Act (BSA) and other Anti-Money Laundering rules, including What s New in BSA rules Customer Due Diligence and beneficial ownership. We ll discuss SARs, SAR narratives, and tips from law enforcement agencies regarding suspicious activity reporting. We ll also talk about BSA training and how to make it more interesting for your staff. Truth in Lending/Truth in Savings While the overarching rules of do not be misleading seem simple enough, both Truth in Lending and Truth in Savings laws remain pitfalls for even the most seasoned compliance expert. Jim McKell will lead a short overview on Reg Z and Reg DD. Day 2 CECL What You Need to Know from a Compliance Perspective! This session will focus on the issues regulators will be looking into throughout the Current Expected Credit Loss (CECL) implementation process, with the initial calculations, and as you move forward with your calculations. Specific discussions will include: Implementation process including data validation, completeness of data and data calculations Model validation, segment/class structures and CECL regression results, including reasonable and supportable information New financial statement disclosures and possible call reporting changes Conducting a Compliance Review A compliance review is a comprehensive evaluation of a credit union s adherence to regulatory guidelines. Its purpose is to identify problems and weaknesses BEFORE they are detected by examiners, or even worse, members and members attorneys. This will be a hands-on learning session so attendees are asked to bring their credit unions Truth In Savings (TIS) policies and procedures, disclosures, and advertisements so we can do an actual compliance review of the credit union s TIS program. Check Primer One frequent topic of concern for financial institutions is checks. Checks have never been simple, but the advent of the digital age has made them more difficult than ever and has made handling them correctly paramount. Jim McKell will discuss how to handle liability following check fraud, as well as discussing cashier s checks.

4 SESSIONS Day 2 Marketing & Advertising Compliance Your credit union promotes its products and services in many different ways and through many different media brochures, signs in the credit union, billboards, newspapers, TV, radio, website, social media, and others. This session will focus on the many rules and regulations that must be considered when developing advertisements and marketing materials. We ll also take a look at examples of real world advertisements to see where things were done right and where errors were made. Kristen is looking for volunteers who are willing to share some of their credit unions marketing materials/ advertisements to use as examples. If you re willing to share, contact her at ktatlock@cusn.com. We might find mistakes made and point those out, but your real-world examples would make the session more impactful! Speakers Beth Burgin Waller As chair of the Practice at Woods Rogers, attorney Beth Burgin Waller advises clients in the midst of data breaches, on Waller cybersecurity preparedness, and on privacy concerns. In this capacity, she guides clients on matters ranging from incident response plans to cybersecurity insurance coverage. She also counsels clients with international business on compliance with privacy regulations such as the European Union s General Data Protection Regulation. Outside of cybersecurity, Beth advises clients on the assessment of risks, regulatory compliance, and the protection of intellectual property rights. Jim McKell Woods Rogers attorney Jim McKell is a member of the firm s Business and Corporate practice group, specializing in banking law, real estate law, corporate governance, McKell and contracts. He represents lenders and borrowers, buyers and sellers, and helps set up and organize the governance of small businesses. Jim is Woods Rogers Certified CUNA Credit Union Compliance Expert. In this capacity, he staffs the regulatory compliance hotline Woods Rogers operates for the Virginia Credit Union League. Tatlock Kristen Tatlock Kristen Tatlock is a nationallyknown speaker and compliance consultant with more than 29 years of experience in the credit union compliance arena. Kristen assists credit unions with issues ranging from advertising rules to bylaws, from Social Media compliance matters to Regulation Z, and just about every regulation and compliance concern in between. She regularly presents compliance training programs for national credit union organizations, state leagues and associations, and credit unions around the country. Kristen has also edited and revised numerous compliance training courses and modules for CUNA CPD and has authored several articles for various CUNA publications.

5 Speakers Mike Umscheid Mike Umscheid is president & CEO of ARCSysonline. He has provided consulting Umscheid and auditing services to public and non-public companies for more than 30 years. His areas of specialization include CECL accounting & consulting; internal control audits/ Sarbanes-Oxley; Auditing for public and private companies; and litigation support. He is a past member of the Auditing Standards Board and AICPA; past chairman of the AICPA Financial Services Expert Panel; member of the AICPA Internal Control Task Force on SAS 112, SAS 115, and AT 501, and chairman of the 1998 AICPA Credit Union Conference. His writing experience includes AICPA author Accounting for Credit Impairment (CECL); coeditor of the Audits of Financial Institution Manual published by Thompson Publishing (PPC) 1997 to 2013; co-author of PPC s Guide to PCAOB Audits 2005 to 2012 (Thompson Publishing); and past chair and member of the Auditing Standards Board Task Force (ASBTF) to rewrite AT 501, the standard that establishes internal control audit standards for non-public companies. Details REGISTER: Register online at and pay by credit card. Or, use the form provided and submit it to your League. Deadline to register is Oct. 30. COST: Your educational investment is $159 per person, per day. CONTACT: Virginia Credit Union League Attn: Mike Read PO Box 11469, Lynchburg, VA (Phone) , ext. 612 ( ) mread@vacul.org HOST HOTEL: Our host hotel is the Embassy Suites by Hilton Richmond. Our special rate is $139 plus taxes. Hotel discount is available through Oct. 26. Simply copy and paste the URL below into your browser to access the exclusive rates available for our group: VCUL-Compliance Please note, the entire URL must be copied and pasted for it to work properly. You may also call for reservations: Group Name: VCUL Compliance REGISTRATION: Your Name: Telephone: Credit Union: Your CU Address: Enclosed is a share draft/check payable to the Virginia Credit Union League. Looking for Additional Compliance Training & Education? Your League offers dozens of compliance-related webinars and training opportunities! View our compliance webinars online at: League-Online-Training. Also see the resources available through our partnership with League InfoSight, our online compliance manual. See these resources here: Online-Compliance-Manual.