Business Conference

2022 NCUMA SPRING CONFERENCE SESSIONS

 

Sunday, May 29

 

Session I: "Critical Response Trends" by Nicole Selli

 

With an increasing number of high-profile attacks and multifaceted extortion events over the past 12 months, it’s critical for organizations to prepare for and understand the complexities that come with data breaches. Successfully breaching Internet-facing devices allows attackers to bypass basic security measures, like email-based security controls, and allows them to obtain an initial foothold in a business’ environment to wreak unsuspecting havoc. Further adding to the complication is that even if processes are in place to manage and mitigate a breach, the complexities around breach disclosure remains an added issue – one in which interest in the topic has intensified. In this session, Nicole will show the latest trends around how attackers are targeting the financial sector and highlight the dominant tactics, techniques, and procedures (TTPs) of these threat groups, as well as the motivations driving today’s attackers. This session will outline the most successful steps financial organizations need to take to strengthen their defenses and what to do in the event of a major breach to minimize harm.

Session II: "Fight Fraud with a Zero Trust Security Posture" by Tim Neiman and Mike Robins

According to the Association for Certified Fraud Examiners, internal control weaknesses are responsible for nearly half of fraudulent activity.  Aggressive cyber terrorists and stale technology policies put your members’ assets and your organization’s reputation at significant risk.  A path to Zero Trust offers hope and opportunity for credit unions.  Zero Trust represents the largest technological paradigm shift in at least a decade.  It not only recommends new security tools implemented in a new way, but also requires a cultural mindset change from employees and members.  This session will explain how a Zero Trust security posture will protect your credit union against the ever-evolving range of cyber threats, prepare your credit union for a successful NCUA audit, and protect your members from increasingly creative attempts at insider and external fraud.

 

 

Monday, May 30

 

Session I: “For Better or Worse: Economic Outlook 2022” by Cristian deRitis

The US economy is at a cross-roads as it moves beyond the COVID-19 pandemic.  Output as measured by GDP has fully recovered and the labor market has bounced back as demand for workers exceeds supply.  In this session we will review current economic trends as we construct a baseline outlook for 2022, 2023, and beyond.  We will then turn our attention to the many threats and challenges facing the economy including price inflation, supply chain issues, rising debt levels, and growing geopolitical risks.  Special attention will be given to the challenges facing credit unions and their members


Session II: “Consumers and Crypto: Risks and Opportunities” by Cristian deRitis

In this interactive session, we will explore a variety of emerging trends affecting consumers, small businesses, and the financial institutions that serve them.  We will consider the current State of Consumer Credit by reviewing data compiled from consumer credit reports.  We will compare loan origination volumes across products, credit scores, and geographies to gain insights into how and where consumers are borrowing as well as future demand.  Next, we will investigate trends in on-time payment performance and forecast the likelihood that borrowers will be able to make timely payments on their mortgages, credit cards, auto loans, and other obligations.

After reviewing the financial health of consumers, we will turn our attention to the key issues facing credit unions today including the adoption of the Current Expected Credit Loss or CECL standard for loss provisioning.  We will review the experience of large banks that have already implemented CECL for lessons learned and consider the options available to credit unions as they prepare to adopt the standard in 2023.  Finally, we will open the floor for questions and comments around other topics of interest to credit unions and their members including the growing interest in cryptocurrencies and decentralized finance.  

 

 

Tuesday, May 31

 

Session I: “Recruiting and Retaining Successful Leadership” by Tammy O'Hara

Successfully recruiting and retaining quality executives is vital to your credit union’s long-term stability, growth and succession planning. This brief session will touch on how to prepare & be proactive, determining who is a key employee and what to offer to ensure a key executive doesn’t leave your organization. 

Session II: “Changing Paradigms After the Pandemic Part I” by Patrick Adams 

Strategic leadership is essential to our success especially given the macro-changes we have been forced to deal with as a result of the pandemic.  We will discuss the issues of our time with a focus on growth.  What makes us relevant?  

Session III: “Changing Paradigms After the Pandemic Part II” by Patrick Adams 

Data, member experience, collaborations, social responsibility and corporate culture are all major components to what we need to continue on the path to success.  Let’s have some fun and spend our time together discussing these issues.   

 

Wednesday, June 1

 

Session I: “The Robots are Coming! – Machine Learning/AI in Consumer Lending” by Don Arkell

A day is coming (soon) when human beings are removed from the loan decision. Is your credit union talking about the impact to your lending portfolio and your delivery channels? 

In this one hour session, Don Arkell from CU Lending Advice will discuss the history of ML/AI in lending, the progression of automated decisions and the challenges presented to credit unions. We will cover:

  • How ML/AI replicates a loan decision

  • Extending your credit risk appetite across space and time

  • Regulatory concerns and challenges

  • How confident are you in your metrics today?

  • What problem will you solve? What problems will you create?

 

 

Session II: “Living Broke: The New American Dream for Millennials and Centennials” by Don Arkell

Millennial/Gen Z generation surpassed the Boomers as the single largest block of consumers in the US.  The average age of credit union members is in the US is increasing. Straddled with student loan debt, this generation is entering peak borrowing years.  This generation of borrowers has different expectations than previous generations.  Learn why you aren’t attracting and maintaining a relationship with these new borrowers.

 

  • The Expectation Gap between your Board and Millennials

  • ‘Adulting’- Financial Literacy is at an All Time Low

  • Student Loan Debt Crisis

  • The Sharing Economy is Putting Your Auto Portfolio at Risk

  • It’s About the Experience