FASB Board Member, SEC Chief Accountant and Other Officials To Discuss Banking Developments and Outlook At AICPA National Conference on Banks and Savings Institutions

August 31, 2015

 

• FASB Board Member gives update on FASB projects, including the financial instruments project
• SEC Chief Accountant offers perspective about key developments and their impact on financial institutions, registrants and auditors
• Federal Reserve Board, FDIC and OCC Chief Accountants discuss recent releases, as well as current and upcoming projects
• PCAOB official discusses exposure drafts and common inspection report findings applicable to financial institution audits
• Fannie Mae Chief Economist evaluates economic and housing outlook

WHEN:   Wednesday, Sept. 16 - Friday, Sept. 18, 2015

WHAT: AICPA National Conference on Banks and Savings Institutions

WHERE:  Gaylord National Resort and Convention Center, 201 Waterfront Street, National Harbor, Md.
Reporters are also invited to cover any of the conference sessions in real time via the Internet.

WHO:   FASB:
Lawrence W. Smith, Board Member, Financial Accounting Standards Board (FASB), Norwalk, Conn.

SEC:
James V. Schnurr, Chief Accountant, U.S. Securities and Exchange Commission (SEC), Washington, D.C.
Stephanie Ciboroski, Senior Assistant Chief Accountant, Division of Corporation Finance, SEC, Washington, D.C.
John Nolan, Senior Assistant Chief Accountant, SEC, Washington, D.C.

FDIC, Federal Reserve Board and OCC:
Steven P. Merriett, Chief Accountant, Federal Reserve Board, Washington, D.C.
Robert F. Storch, Chief Accountant, Federal Deposit Insurance Corporation, Washington, D.C.
Louis A. (Rusty) Thompson, Acting Deputy Comptroller and Chief Accountant, Office of Comptroller of the Currency, Dallas, Texas
Jeffrey J. Geer, Associate Chief Accountant, Office of the Comptroller of the Currency, Washington, D.C.
Arthur W. Lindo, Senior Associate Director, Division of Banking Supervision and Regulation, Federal Reserve Board, Washington, D.C.
Matthew Kincaid, Senior Accounting Policy Analyst, Federal Reserve Board of Governors, Washington, D.C.

PCAOB:
Glenn Tempro, Associate Director, Division of Registration and Inspections, Public Company Accounting Oversight Board, Washington, D.C.
Barbara Vanich, Associate Chief Auditor, PCAOB, Washington, D.C.

Fannie Mae:
Douglas Duncan, Senior Vice President and Chief Economist, Fannie Mae, Washington, D.C. 

Wednesday, September 16, 2015

8:00am – 8:15am Welcome and Introductory Remarks, Sydney Garmong, Conference Chair, Crowe Horwath LLP, Washington, D.C.

8:15am – 9:30am Financial Markets Update: Marci Rossell, Co-host of Squawk Box and former CNBC Chief Economist, Washington, D.C.

9:30am – 11:10am Federal Banking Regulator Chief Accountant Panel, Steven Merriett, Chief Accountant, Federal Reserve Board, Washington, D.C.;  Robert F. Storch, Chief Accountant, FDIC, Washington, DC; Louis A. (Rusty) Thompson, Acting Deputy Comptroller and Chief Accountant, Office of Comptroller of the Currency, Dallas, Texas 

11:30am – 12:45pm  Q&A: Federal Banking Regulator Chief Accountant Panel,  Steven Merriett, Chief Accountant, Federal Reserve Board, Washington, D.C.;  Robert F. Storch, Chief Accountant, FDIC, Washington, DC; Louis A. (Rusty) Thompson, Acting Deputy Comptroller and Chief Accountant, Office of Comptroller of the Currency, Dallas, Texas 

12:45pm – 1:45pm Lunch (no luncheon speaker)

1:45pm – 3:00pm Concurrent Sessions
• Dodd Frank – Volcker Rule Accounting Implications, Jai Massari, Davis Polk & Wardwell LLP, Washington, D.C.; Aaron Netten, Accounting Policy Manager, Wells Fargo, Minneapolis, Minn.; Sean O’Connell, Senior Manager, EY LLP, New York, N.Y.
• An Investment Banker’s Perspective on the Industry, Catherine Lawton, Principal, Sandler O’Neill & Partners, LP, New York, N.Y.
• COSO 2013 Lessons Learned and Implementation Challenges, Moderator: Theodore J. Scallon, Partner, KPMB LLP, New York, N.Y.; Panelists: Dawn Fleury, Chief Risk Officer, Country Bank, Ware, Mass.; James Heckler, Managing Director, Citigroup, Baltimore, Md.; Bryan Marx, Chief Accounting Officer, Flagstar Bank, Troy, Mich.
• Documentation of Qualitative Factors for ALLL, Dorsey Baskin, Managing Partner – Innovative Service Development, Grant Thornton LLP, Dallas, Texas

3:10pm – 4:25pm Concurrent Sessions
• Basel III – Update and Observations, Arthur W. Lindo, Senior Associate Director, Division of Banking Supervision and Regulation, Federal Reserve, Washington, D.C.; Michael L. Gullette, Vice President, Accounting and Financial Management, American Bankers Association, Washington, D.C.; David Wagner, Executive Managing Director, Head of Finance, Risk and Audit Affairs and Senior Associate General Counsel, The Clearing House, New York, N.Y.
• Revenue Recognition, Michael H. Hall, Partner, KPMG, New York, N.Y.; Lee Keel, Accounting Policy Manager, Wells Fargo, Charlotte, N.C.; Lisa Koehl, Executive Director, JPMorgan Chase & Co., Chicago, Ill.; Esther Mills, President, Accounting Policy Plus, New York, N.Y.
• Tax Update for Financial Institutions, David Thornton, Crowe Horwath LLP, New York, N.Y.
• Auditing Accounting Estimates and Fair Value Measurements, Jean Joy, Member of the Firm, Wolf and Company, Boston, Mass.; Thomas Omberg, ERS Partner, ATR, Deloitte & Touche LLP, Stamford, Conn.

4:50pm –6:05pm Concurrent Sessions 
• Update from the Public Company Accounting Oversight Board, Glenn Tempro, Associate Director, Division of Registration and Inspections, PCAOB, Washington, D.C.; Barbara Vanich, Associate Chief Auditor, Office of the Chief Auditor, PCAOB, Washington, D.C.
• Cybersecurity Control and Governance, Ben Cotton, President/CEO, CyTech Services, Manassas, Va.; Tom Haberman, ERS Principal, Deloitte & Touche LLP, Cincinnati, Ohio

Thursday, September 17, 2015

7:30am – 8:20am Breakfast Sessions
• AICPA Update, Wynne Baker, Partner, Kraft CPAs PLLC, Nashville, Tenn.
• Data Breach Preparedness and Litigation, Peter Pizzi, Cyber and Privacy Law Practice Group, Connell Foley, New York, N.Y.
• Data Quality: Are Banks Ready for Basel 2016 Reporting? John Shain, President, Automated Financial Systems, Inc., Philadelphia, Penn.
• Effective Model Risk Management, Jared Forman, Principal, Advisory Services, Dixon Hughes Goodman LLP, New York, N.Y.; Robin Sawyer, Partner, DHG Financial Services, Atlanta, Ga.

8:20am – 8:30am Welcome and Chair Remarks, Sydney Garmong, Conference Chair, Crowe Horwath LLP, Washington, D.C.

8:30am – 9:45am Housing and Economic Update, Douglas G. Duncan, Senior Vice President and Chief Economist, Fannie Mae, Washington, DC

9:50am – 11:05am SEC Chief Accountant Update, James V. Schnurr, Chief Accountant, SEC, Washington, D.C.

11:25am – 12:40pm Observations on the Regulatory Environment for Financial Institutions, Randall D. Guynn, Partner and Head of Financial Institution Group, Davis Polk, New York, N.Y. 

12:40pm – 1:40pm Lunch (no luncheon speaker)

1:40pm – 2:55pm FASB Update, Lawrence W. Smith, Board Member, FASB, Norwalk, Conn.

2:55pm – 3:20pm FASB Q&A, Lawrence W. Smith, Board Member, FASB, Norwalk, Conn.

3:40pm – 4:55pm Financial Instruments and Impairment, Linda Bergen, Director, Citigroup Inc., New York, N.Y.; Frederick Currie, Partner, National Professional Group – Financial Instruments, PricewaterhouseCoopers LLP, Florham Park, N.J.

4:55pm – 6:35pm Implementation Considerations for FASB’s Current Expected Credit Loss (CECL) Model, Moderator: Balvinder Sangha, Principal and Leader, Credit and Capital Analytics Team, Financial Services Risk Management Practice, EY LLP, Washington, D.C.; Panel: Susan E. Chapman, Managing Director, Citigroup Inc., New York, N.Y.; Judy Ciesielski, Executive Vice President, Head of Credit Capital, Allowance and Stress Testing, Wells Fargo, Charlotte, N.C.; Charles Ince, Vice President, Credit Administration, Middleburg Financial Corporation, Middleburg, Va.; Peter Stickler, Senior Vice President & CFO, Inland Bancorp Inc., Oak Brook, Ill.; Russell Zusi, Senior Vice President, Finance Executive, Bank of America, Charlotte, N.C.

Friday, September 18, 2015

7:30am – 8:20am Breakfast Sessions
• Professional Ethics Update, Lisa Snyder, Director, Professional Ethics, AICPA, Durham, N.C.
• Investment Regulations and Banks: Documentation, ASC 820 Leveling and Reporting Requirements, Verne Scazzero, President & CEO, Harvest Investments Ltd., Burr Ridge, Ill.
• Solving the CECL Challenge: One Size Will Not Fit All, John Lankenau, Vice President, Product Management, Primatics Financial, McLean, Va.
• Competing for Mortgage Production – The Effect of Lower Lending Standards, Sara Campbell Taylor, Client Strategy Officer, Level1Analytics, Fort Lauderdale, Fla.

8:30am – 9:20am Three-Box Solution: Trends and Disruptors Impacting the Banking Industry, Vijay Govindarajan, Coxe Distinguished Professor of Management, Tuck School of Business, Dartmouth College, Hanover, N.H.

9:50am – 11:05am Concurrent Sessions 
• Pillar III Disclosures: Observations, Matthew Kincaid, Senior Accounting Policy Analysts, Federal Reserve Board of Governors, Washington, D.C.; Tim Becker, Accounting Policy Manager, Wells Fargo, Minneapolis, Minn.; Katy McDowell, Vice President, Controls and Reporting, The PNC Financial Services Group Inc., Pittsburgh, Penn. 
• Enterprise Risk Management, Michael Cohn, Member of the Firm, WolfPAC Solutions Group, Wolf & Company P.C., Boston, Mass.; James Cotter, Executive Vice President and COO, Naugatuck Valley Savings and Loan, Naugatuck, Conn.
• Mortgage Banking Update, Bryan Heft, Partner, PricewaterhouseCoopers LLP, Columbus, Ohio; Tom Knox, Partner, PricewaterhouseCoopers LLP, Los Angeles, Calif.; David Lukach, Partner, PricewaterhouseCoopers LLP, New York, N.Y.; Brian Rudzik, Senior Manager, PricewaterhouseCoopers LLP, Columbus, Ohio
• Documentation of Qualitative Factors for ALLL (Repeat of Wednesday, Sept. 16 Session at 1:45pm – 3:00pm.)

11:15am – 12:30pm Concurrent Sessions
• Empower Your ALCO for Successful Strategy Development, Frank Farone, Managing Director, Darling Consulting Group Inc., Newburyport, Mass.
• SEC Corporation Finance and Office of Chief Accountant Themes from Annual Reviews, Stephanie Ciboroski, Senior Assistant Chief Accountant, SEC, Washington, D.C.; John Nolan, Senior Assistant Chief Accountant, SEC, Washington, D.C.
 
12:30am – 1:30pm Lunch (no luncheon speaker)

1:30pm – 2:45pm Concurrent Sessions
• CFO Hot Topics Panel – Community Banks, Jeffrey J. Geer, Associate Chief Accountant, Office of the Comptroller of the Currency, Washington, D.C.; Sydney Garmong, Partner, Crowe Horwath LLP, Washington, DC; Troy K. Lewis, Senior Vice President, Heritage Bank, St. George, Utah; Michael D. Lundberg, Partner, National Director Financial Institutions, McGladrey LLP, Minneapolis, Minn.; Rajesh Mehra, CFO, Meddleburg Financial Corporation, Middleburg, Va.; Todd Sprang, Principal, CliftonLarsonAllen LLP, Oak Brook, Ill.;  Peter Stickler, Senior Vice President and CFO, Inland Bancorp Inc., Oak Brook, Ill.
• Ask the Experts Panel: Large Banks, Chris Ackerlund, Senior Vice President – Financial Reporting and Policy, Bank of America Corporation, Charlotte, N.C.; Linda Bergen, ViceDirector, Citigroup Inc., New York, NY; Scott Blackley, Senior Vice President, Controller and Principal Accounting Officer, Capital One, McLean, Va.; Brett Dooley, Managing Director, JPMorgan Chase, New York, N.Y.; Rick Juntilla, Vice President, Director of Accounting Policy, U.S. Bancorp, Minneapolis, Minn.; Gregory Kozick, Senior Vice President and Corporate Controller, The PNC Financial Services Group, Washington, D.C.