Financial Institutions Conference

Sep 26 - Sep 27
8:45 - 4:35 p.m.

Penn State Great Valley Conference Center Bldg
Malvern - Map

6-A&A; 2-Tax; 5-Other; 1-Ethics
CPE Credits

Address the accounting, auditing, taxation, and technology issues affecting financial institutions.


8:15 a.m.   Breakfast and Check-in

8:45 a.m.   Greetings from PICPA Leadership

9:00 a.m.   Banking Industry Update

Robert E. Kafafian
President & CEO | The Kafafian Group Inc.

  • Interest rate environment
  • Regulatory environment
  • Strategy and capital
  • Profitability and performance
  • Emerging trends

9:50 a.m.   U.S. Economic Outlook

Joseph Brusuelas
Chief Economist | RSM US LLP

  • Growth, employment, and inflation forecast
  • Risks to the economic outlook
  • Global financial conditions
  • Future of interest rates

10:40 a.m.   Take a Breather

10:55 a.m.   Federal Tax Update

Charles E. Marston, CPA, MST
President and Director of Tax Group | SR Snodgrass PC

  • Hot tax issues common to financial institutions
  • Problem areas related to income tax accounting
  • Tax implications for banks in a business combination

Room Change Break

SEC and PCAOB Hot Topics

Frank Dudek
Audit Managing Director | Deloitte & Touche LLP

  • SEC issues and developments that impact the current regulatory environment for public companies
  • Non-GAAP financial measures
  • SEC comment trends
  • PCAOB trends
Private Companies: Hot Topics in Diversification of Income, Risk, and Operations

Wayne Gniewkowski
Principal | Crowe Horwath LLP

Bailey Frye
Director & Client Executive | Crowe Horwath LLP

  • Considerations when originating leasing companies, specialty finance, insurance agencies, captive insurance, and prepaid cards
  • Industry trends, potential income, and savings opportunities
  • Risk and operations in core banking: Streamline operations and invest in technology

12:40 p.m.   Lunch

1:30 p.m.   FASB's New Credit Impairment Model: How to Get From Where You Are to Where You Need to Be

Faye E. Miller, CPA
Partner, National Professional Standards Group | RSM US LLP

Jonathan Prejean
Managing Director, Accounting & Reporting Transformation | Deloitte & Touche LLP

  • Overview of the existing accounting framework for allowance for loan loss  
  • Allowance for loan and lease losses, including reporting and regulatory trends
  • Requirements of the Accounting Standards Update, Financial Instruments-Credit Losses (Subtopic 825-15)
  • Planning tips
  • Expected implementation challenges
  • How to form an implementation team

3:10 p.m.   Snacks and Chats
3:25 p.m.   Accounting Update

Barry M. Pelagatti, CPA
Partner, Assurance | BDO USA LLP

  • Effect of current pronouncements on upcoming audits
  • Regulatory hot topics for 2016
  • Topics that you and your audit committee should discuss

4:15 p.m.   Ethical Issues Facing the Banking Industry

Kenneth J. Rollins, JD
Rhoads & Sinon LLP

  • The evolving public and professional perception of the banker
  • How the continued focus on relationship banking increases the risk of real and perceived conflicts of interest
    This session fulfills one ethics credit!

5:05 p.m.   Happy Hour - Sponsored by BDO

6:05 p.m.   See You Tomorrow


8:00 a.m.   Breakfast and Check-in

8:30 a.m.   The Social Menace: Social Media and Its Impact on Sensitive Data

Sudhir Kondisetty, CISSP, CISA, QSA
Risk Advisory Consulting Principal | RSM US LLP

  • Cyber threat landscape
  • Personally Identifiable Information (PII)
  • Common social media risks
  • How cyberattacks on social media lead to PII loss

9:20 a.m.   Creating the Calm after the Storm: Day 2 Considerations for Business Combinations

Ian F. McDowell, CPA
Partner | SR Snodgrass PC

Robert M. Barilla
President & Founder | Cedar Hill Advisors LLC

  • Considerations and impacts of accounting for ASC 310-30 loans
  • How to monitor amortizing fair value adjustments after business combinations
  • Allowance methodology for postcombination considerations
  • Goodwill and other intangible asset impairments
  • New accounting pronouncement impacts of ASU 2015-16 and FASB’s pipeline

10:10 a.m.   Take a Breather

10:25 a.m.   Nontraditional Revenue Streams

Oksana K. Sweeney, CPA
Senior Manager | Deloitte & Touche LLP

  • Discuss the need for banks to explore opportunities outside their traditional businesses and expand into alternative revenue streams
  • How to effectively diversify and grow new revenue streams by planning with scalability in mind, to minimize negative impact to existing business
  • How banks are shifting their focus and investment dollars toward noninterest income products and services, such as wealth management, payments, and insurance
  • Merchant-funded offers that leverage payment transaction data to generate retail offers for cardholders

Room Change Break
Regulatory Compliance Hot Topics

Daniel F. Hayes, CPA
Executive Director - Financial Services | Ernst + Young LLP

  • Key regulatory compliance issues banks of all sizes need to address with a focus on consumer protection regulations
  • The focus of the regulators on risk culture and on the three lines of defense
  • How to get your front office to understand the rules that apply to your business
  • The role of risk management, compliance, and the board
Auditing Update

Oksana K. Sweeney, CPA
Senior Manager | Deloitte & Touche LLP

  • The latest accounting changes and how they affect the auditing process
  • Timelines and key factors to ensure compliance with your reporting deadlines
  • Assess the effects of these standards on your institution to demonstrate compliance
12:10 p.m.   Lunch

1:00 p.m.   Corporate Governance: How Boards Handle Strategy, Risk, Analytics, and Cybersecurity

Ivan Cilik, CPA
Partner| Baker Tilly Virchow Krause LLP

  • The role of bank board risk committees in company performance
  • Where and how board-level risk oversight is handled
  • Incorporate strategic risk thinking into strategy
  • Define the board’s risk oversight role
  • Maturity of the risk governance process
  • Cybersecurity and impact on strategy and risk

1:50 p.m.   Current Themes in Interest Rate Hedging: A Look at the Changing Accounting Landscape and the Economics Driving Depository Hedging Strategies

Todd Cuppia
Director of Balance Sheet Strategies | Chatham Financial

Robert Anderson, CPA
Director of Accounting for Financial Institutions | Chatham Financial

  • Motivations for banks to use interest rate derivatives
  • How swaps impact net interest income and the economic value of equity
  • Overview of the hedge accounting models and key considerations
  • Key impacts for banks applying ASC 815: Derivatives and Hedging

2:40 p.m.   Snacks and Chats
2:55 p.m.   Regulatory Hot Topics and Accounting Updates
Eric K. Bowman
Supervisory Examiner | FDIC

Alice Brent
  • Loan impairment methodologies
  • Troubled debt restructuring identification
  • Trends in examination findings
  • Accounting for troubles loans
  • Common errors noted on examination

3:45 p.m.   The Essential Financial Institution State Tax Briefing

Glenn Richard James, CPA, JD
Partner, Tax Services | BDO USA LLP

  • Executive summary of developments over the last year in state taxation relevant to all financial institutions with operations in Pennsylvania and contiguous jurisdictions
  • Industry news out of Harrisburg, Trenton, Albany, and Annapolis

4:35 p.m.   See You Next Year

Thanks to the following for their support of this conference:



PICPA Member: $555
Nonmember: $655

More Information

Course No. 708600 Level: Update

Prerequisites: None


CPE Credits: 16

  • Sept. 26
    General Session Credits: 2-Other; 3-A&A; 1-Tax; 1-Ethics
  • Sept. 27
    General Session Credits: 3-Other; 3-A&A; 1-Tax
  • Credit types for concurrent sessions are noted in session descriptions

CLE Credits

  • Submitted for 13-Substantive CLE credits
  • Attorneys requesting CLE credits pay an additional $100

Staying over?

Contact the Desmond Great Valley at (610) 296-9800. Identify yourself as a PICPA conference participant to receive the discounted rate.
  • Discounted rate: $149 single/double
  • Reserve by: Sept. 2

Thanks to the Financial Institutions Committee Members who planned this conference:

Chair - Barry Pelagatti, CPA

Edward Barrett, CPA

Maria Boodoo, CPA
Securities and Exchange Commission

Kenneth Chin, CPA
Chin Consulting Associates LLC

Jermaine Crosson, CPA
Members 1st FCU

Elizabeth Dobbs, CPA
Bank of New York Mellon

Richard Farrell, CPA

Kirsten Flanagan, CPA
Friedman LLP

Nicholas Huntington, CPA
Pennsylvania State Employees Credit Union

Shawn Kaciubij, CPA
SR Snodgrass PC

M. Megan Kennedy, CPA
Aberdeen Asset Management Inc.

Michele Killian, CPA
PricewaterhouseCoopers LLP

Joseph LaClair, CPA

Robert Listerman, CPA
Business Technology Resources LLC

Louis McCall, CPA

Ian McDowell, CPA
SR Snodgrass PC

Sean Mulcahy, CPA
Santander Bank

Patrick Mulloy, CPA

James Oleff, CPA
Crowe Horwath LLP

Susan Persley, CPA

Jeffrey Skumin, CPA
Baker Tilly Virchow Krause LLP

Barbara Stofflet, CPA
Public Company Accounting Oversight Board

Oksana Sweeney, CPA
Deloitte LLP

Vincent Tesoriero, CPA
Marlin Business Service

Christine Wagner, CPA
National Credit Union Administration


Charles Marston

President & Director of Tax Group

Daniel Hayes

Executive Director - Financial Services

Barry Pelagatti

Partner & Leader, Financial Services Industry Grp

Robert Kafafian

President and CEO

Ivan Cilik


Oksana Sweeney


Glenn James


Robert Barilla

President & Founder

Ian McDowell

Principal - Audit & Assurance Group

Faye Miller

Partner, National Professional Standards Group

Sudhir Kondisetty

Risk Advisory Consulting Principal

Eric Bowman

Supervisory Examiner

Frank Dudek

Audit Managing Director

Alice Brent

Financial Institution Examiner

Joseph Brusuelas

Chief Economist

Wayne Gniewkowski


Bailey Frye

Jonathan Prejean

Managing Director

Kenneth Rollins


Robert Anderson

Director of Accounting for Financial Institutions

Todd Cuppia

Managing Director, Balance Sheet Strategy