EasCorp's 2024 ALM ACADEMY

Presented in Partnership with ALM First
October 23-24, 2024 • The Conference Center At Waltham Woods, Waltham, MA

You will learn to:

  • Manage interest rate risk in an ever-changing economic climate
  • Identify sound strategies that capitalize on emerging economic trends
  • Improve your credit union's balance sheet and overall performance
  • Analyze risk exposure and economic value sensitivities and examine alternative forward-looking scenarios
  • Help your credit union meet and exceed its financial goals and to pass regulatory scrutiny
  • Address market and financial risk that may arise due to a mismatch between assets and liabilities

You will receive:

  • Comprehensive tools and best practices for financial analysis and balance sheet management
  • An expert-led session on the outlook and health of the U.S. economy
  • Updates on current regulatory topics, including NCUA’s supervisory priorities
  • Review of case studies

Click on the tabs above to learn more and stay tuned for additional program details to be added soon.

Select from one of the two unique tracks described below. Both include two days of expert-led courses, economic and regulatory updates, and real-world case studies. These courses are designed to prepare you for our fast-changing economy and to help you develop the decision-making competence the market demands.

Introduction to Asset Liability Management Track

An introductory course providing orientation to and review of the core concepts of ALM strategy and best practices. Participants will leave with a better understanding of the dynamics of their balance sheet, interest rate risk management, key measurements of financial exposure, and more.

Topics include:

  • Introduction to interest rate risk
  • Tools for measuring and monitoring risk
  • Liquidity management
  • Developing sound risk management policies and practices

Audience:
Designed for CEOs, CFOs, ALM committee members, financial management staff, those who manage the balance sheet, and anyone who might benefit from a deeper understanding of the potential risks a credit union must face.

Read the full Agenda for the Introductory track.

Advanced Asset Liability Management Track

Professionals with pre-existing practical knowledge of key ALM concepts will delve into the more complex and strategic aspects of the field. Participants will leave with a better understanding of model assumptions, liquidity risk management, investment analysis, derivative strategies, and more.

Topics include:

  • Model assumptions
  • Liquidity risk management
  • Investment analysis
  • Derivative strategy
  • Sensitivity testing

Audience:
Financial analysts and those directly responsible for managing and monitoring the credit union's rate risk exposure, including all staff responsible for ALM, as well as the CFO.

Read the full Agenda for the Advanced track.

Your course instructors have extensive experience in ALM and investment strategies and prior teaching experience. This program is offered jointly with ALM First, EasCorp's trusted partner and a provider of financial advisory services. Their expertise in asset liability management draws from their years of proven balance-sheet and investment portfolio strategies, advanced analytical systems, and financial consulting. This year’s faculty includes practicians with a deep understanding of successful financial management for credit unions.

Owen Cole, Retired, National Credit Union Administration
Owen Cole is a retired financial professional with over 35 years of combined banking and federal financial regulatory experience. Cole retired from the National Credit Union Administration (NCUA) after 28 years of service in 2021. He held numerous managerial positions with the agency, last as the NCUA Associate Director for Policy and Markets in the Office of Examination and Insurance (E & I). In that role, he supervised the directors of the E&I divisions of capital markets, credit markets, policy, and NGN support. He was President of the NCUA Central Liquidity Facility (CLF), created to improve general financial stability by helping meet the liquidity needs of credit unions, from 2003 to 2021, and was its Vice President from 1998 to 2001. He served on the transition team as the NCUA Chairman’s Acting Chief of Staff during the initial months of Chairman Rodney Hood’s return to the NCUA Board in April of 2019.

Cole was the Director of the NCUA Office of Capital Markets and Planning from September 2003 through July 2011. From November 2004 through August 2005, he served as National Credit Union Administration’s Deputy Executive Director. As Deputy Executive Director, Cole was responsible for assisting the Executive Director in carrying out all administrative responsibilities. He also served as the Associate Regional Director of Operations in NCUA’s Capital Region from June 2002 to June 2003. Prior to Region II, he served as the Director of the E&I Division of Risk Management from 1998-2002, and as a Senior Investment Officer in the Office of Investment Services from 1993-1998.

Cole came to NCUA in 1993 from the banking industry, where, as a Treasury Division Vice President, he spent 10 years as a funding-desk trader and portfolio manager for the Riggs National Bank of Washington, DC. His responsibilities included supervision of funds management, money-market lending, investment portfolio management, and asset-liability management for Riggs DC and its affiliate banks in Maryland and Virginia.

He holds a BA in History from McDaniel College and an MBA with a concentration in finance and investments from the George Washington University.
Thomas Dumont, Regional Field Manager, Massachusetts Division of Banks
Thomas Dumont began his career at the Division of Banks as a Bank Examiner I in the spring of 1990. After working his way up to a Bank Examiner III position by completing the examinations of financial institutions of various sizes and complexities, he was promoted to Regional Field Manager in the fall of 1998. He has spent the last 26 years supervising the examinations of financial institutions, with a specialization in credit union examinations. Dumont holds a bachelor’s degree from the University of Massachusetts.
Darren Fago, CFA, Director, Advisory Services, ALM First
Darren Fago joined ALM First Financial Advisors in 2019. In his role as Director, Fago is supported by an internal team as he builds holistic partnerships with clients to develop successful balance sheet strategies that maximize performance. This includes interpretation of full balance sheet risk analytics and risk positioning to determine the best opportunities for each client to achieve their financial goals.

Fago provides advice and insights on loan pricing, loan transactions, investment portfolio management, funding strategies, hedging, and more. In addition, he coordinates internal collaboration to deliver analytics and timely reporting to assist clients throughout the entire process from strategy development through implementation and post-execution analysis.

Prior to joining ALM First, Fago served as Vice President, Investment Advisory Services at Balance Sheet Solutions, LLC where he was responsible for managing and directing the firm’s investment advisory service and led a team of portfolio managers and analysts who oversaw more than $1 billion of assets under management. Fago also previously worked as Financial Management Consultant for CUNA Mutual Group. He has more than 20 years of capital markets experience.

Fago holds an MBA in Finance from Edgewood College as well as a BS in Psychology from Illinois State University. He also holds a Chartered Financial Analyst (CFA) designation and is a member of the CFA Institute of Chicago.
Seth Hershey, Supervisory Examiner, Risk Management Unit, Massachusetts Division of Banks
Seth Hersey has been an examiner with the Massachusetts Division of Banks for 13 years. Currently, he is a Supervisory Examiner in the Division’s credit union risk management unit, where his primary responsibility is to lead team examinations of the state’s largest and most complex credit unions. Hershey holds bachelor’s and master’s degrees from Salem State University. He is also a certified public accountant and a certified fraud examiner.
Katie Hopkins, Director, Advisory Services, ALM First
Katie Hopkins joined ALM First in January 2024. As a Director for the firm, she specializes in customizing and implementing actionable and effective ALM and investment strategies to maximize client performance. Additionally, Hopkins proactively designs sensitivity analyses and scenarios to test client balance sheet exposure to various factors and formulates action plans to optimize client performance within policy and risk tolerances. As a trusted advisor, she helps financial institutions build high performing investment portfolios and efficient balance sheets.

Prior to joining ALM First, Hopkins served as Director, Fixed Income Strategies at UBS. She also spent nearly a decade at Vining Sparks as a Mortgage Strategist and in Institutional Fixed Income Sales. Overall, she brings more than 15 years of professional experience to her position at ALM First. Hopkins earned her bachelor’s degree from the University of Chicago and received her Series 7 and Series 63 licenses through FINRA.
Brent Lytle, CFA, Director, Advisory Services, ALM First
Brent Lytle joined ALM First Financial Advisors in 2021. In this role, Brent partners with clients to develop successful balance sheet strategies that maximize performance. Supported by our experienced team, he interprets full balance sheet risk analytics and risk positioning to determine the best opportunities for each client to achieve their financial goals, providing advice and insights on loan pricing, loan transactions, investment portfolio management, funding strategies, hedging and more. Lytle also coordinates internal collaboration to deliver analytics and timely reporting to assist clients throughout the entire process from strategy development through implementation and post-execution analysis.

Prior to joining ALM First, Lytle spent nearly a decade with the Federal Reserve Bank of Kansas City. He initially served as a Bank Examiner before becoming a Capital Markets Specialist and being promoted to Manager, Surveillance & Risk Analytics (SRA). As SRA Manager, Lytle was responsible for overseeing a team of experienced risk specialists and routinely collaborated with the Bank’s senior management, key stakeholders at the Board of Governors, and across the Federal Reserve system in support of risk and surveillance supervisory activities. Lytle received a bachelor’s degree in business administration from the University of Missouri–Kansas City. He is also a Chartered Financial Analyst.
Samantha Mulvaney, VP Finance, Granite State Credit Union
Samantha Mulvaney is the Vice President of Finance at Granite State Credit Union and has been with the organization for nearly 19 years. Her commitment to learning has been a hallmark of her career as she actively seeks opportunities to expand her knowledge within the organization. She has held a variety of positions throughout the organization including leadership positions in the branches and lending. She also has over a decade of prior experience as a licensed real estate agent, representing both buyers and sellers in an ever-changing housing market.

She received her Bachelor of Science in Business Administration, and her MBA with a concentration in Finance, from Southern New Hampshire University. In her current role, Mulvaney has oversight of accounting, collections, and risk. She has a robust background in financial management and currently serves as chair for the credit union’s Asset Liability Committee. Mulvaney also serves as Treasurer for the Polaris Educational Foundation.
Cynthia Nelson, President/CEO, EasCorp
Cynthia Nelson joined EasCorp in 1989 and became its President/CEO in 2022. She believes that EasCorp can help credit unions remain a vibrant, relevant, and trusted part of a modern banking ecosystem. Under her guidance, EasCorp has maintained high-quality assets that have performed well without compromising the company’s risk-averse standards.

Nelson is a credit union veteran, having served the industry for more than three decades. Prior to her current position, she was Executive Vice President responsible for EasCorp’s Investment, Risk Management, Human Resources, and Accounting Departments. Her expertise includes ALM modeling, risk analysis, and management of a fixed-income investment portfolio.

Nelson received a Master of Business Administration with a concentration in finance from Bentley University in Waltham, Massachusetts, and a Bachelor of Science in Business Administration from the University of New Hampshire at Durham. She serves as the Chairperson of EasCorp’s Asset Liability Management Committee and is a Chartered Financial Analyst (CFA) Charter holder.
Kevin Peters, VP Investments & ALM Services, Eastern Corporate Federal Credit Union
Kevin Peters is the Vice President, Investments and ALM Services, at EasCorp. In this role, he is responsible for managing EasCorp’s fixed income investment portfolios and balance sheet. He also analyzes securities for purchase and creates new products, while ensuring adequate liquidity for EasCorp and its members. Peters leads EasCorp’s professional services team, developing ALM modeling and validation, portfolio analysis, and core deposit analysis services.

He provides credit unions with security brokerage services as a registered investment representative with CU Investment Solutions, LLC, and sits on EasCorp’s Asset Liability Management Committee.

Peters rejoined EasCorp in 2001 as Portfolio Manager. He assumed the role of Assistant Vice President, Investments, in 2006, and his new role as Vice President in 2021. He previously served as an investment analyst from 1998 to 2000. Prior to joining EasCorp, Peters was an ALCO Specialist, assisting small banks in projections and strategies, and served as a portfolio accountant for a mutual fund custodian.

Peters holds a BS in Finance from the University of Massachusetts at Lowell and is a Chartered Financial Analyst (CFA). He also maintains his NASD Series 7 and 63 registrations with CU Investment Solutions, LLC.
Robert Spinello, AVP Financial Risk & Compliance, Eastern Corporate Federal Credit Union
Robert Spinello is the Assistant Vice President, Financial Risk & Compliance at EasCorp. Spinello is responsible for monitoring the corporate’s interest rate risk by performing net economic value (NEV) analysis and net interest income (NII) simulations, performing analyses on investment and lending credit exposures, and monitoring the corporate’s regulatory compliance activities as a participant in EasCorp’s Credit Risk Management Committee. Spinello participates in EasCorp’s professional services team, developing and producing ALM modeling and validation, portfolio analysis, and core deposit analysis services. Spinello is a member of EasCorp’s Asset Liability Management Committee.

Spinello joined EasCorp in 1989 and worked in the corporate’s Item Processing Center until June 1997. At that time, Mr. Spinello moved into the Accounting Department as a staff accountant. In November 1998, he assumed the role of Credit and Compliance Analyst, and was promoted to Assistant Vice President, Financial Risk & Compliance in 2018.

Spinello received a BA from Bridgewater State College and an MBA from Northeastern University. Spinello continues his professional development at numerous credit and investment seminars conducted by BAI, Financial Managers Society, and Fabozzi Associates.
Nick Trentmann, Director, Advisory Services, ALM First
Nick Trentmann joined ALM First Financial Advisors in 2020. In his role as Director, Trentmann is supported by an internal team as he builds holistic partnerships with clients to develop successful balance sheet strategies that maximize performance. This includes interpretation of full balance sheet risk analytics and risk positioning to determine the best opportunities for each client to achieve their financial goals.

Trentmann provides advice and insights on loan pricing, loan transactions, investment portfolio management, funding strategies, hedging, and more. In addition to his leading role working directly with clients, he coordinates internal collaboration to deliver analytics and timely reporting to assist clients throughout the entire process from strategy development through implementation and post-execution analysis.

Prior to joining ALM First, Trentmann served as Director and Portfolio Manager at Detalus Advisors LLC, where he was responsible for portfolio and securities management of the firm’s $1.7 billion in institutional assets for clients including banks, insurance companies, high net worth individuals, and municipalities. In addition, Trentmann provided advice to clients regarding economic environment, investment portfolio strategy, deposit pricing, lending rates, and proper balance sheet management.

Trentmann holds an MBA in Finance from Missouri State University.

Event Venue

The ALM Academy is held from Wednesday, October 23, to Thursday, October 24, 2024, at the Conference Center at Waltham Woods, a bright and comfortable, full-service meeting venue conveniently located off Interstate 95 at 860 Winter Street in Waltham, MA. Ample parking is available.

Food and Beverage

Light refreshments and hot and cold beverages are available for morning and afternoon breaks at communal break stations. A luncheon buffet featuring choices to satisfy every palate and dietary need is served in the onsite Dining Room. Outside food and drink are not allowed in the facility; please alert us of any dietary restrictions so we may ensure options are available.

Accommodations

Overnight accommodations are available at the Hyatt House Boston/Waltham, located less than 2 miles from the conference venue at 54 4th Street, Waltham, MA. Add a one- or two-night stay in their comfortable rooms featuring space to work and rest. Our discounted conference rate is $219 per night. Limited discounted rooms are available and are first come, first served. All individual reservations must be made before Sunday, September 22, 2024; reservation requests after this date are based on availability at the hotel’s prevailing rates. Book your room now by calling the Hyatt House at 866.974.9288 or by visiting their website at Hyatt.com using the Group/Corporate code G-EASC.

Register Now

Register online by clicking on one of the tracks below.

Tuition

Tuition includes all instruction; course materials; breakfast and lunch service; and an optional reception for attendees and instructors held on the first night of the conference. Tuition is $750 per person

Questions?

If you have questions about the ALM Academy, who should attend or which course is right for you, or if you require any special accommodations, please contact Kevin Peters at 800.428.1144, Ext. 3354, or kpeters@eascorp.org.

Cancellation Policy

You may cancel your registration through October 8, 2024, without penalty. Refunds will not be issued for cancellations received after October 8, 2024.


Eastern Corporate Federal Credit Union (EasCorp) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Ste 700, Nashville, TN 37219-2417. Their website is www.nasba.org.

Introduction to Asset Liability Management

  • CPE Credits: 6
  • Field of Study: Accounting-Technical
  • Prerequisites: None
  • Program Knowledge Level: Beginner
  • Instructional Delivery Method: Group live
  • Learning Objectives:
    • Define the elements of a balance sheet
    • Identify key risk factors on a balance sheet
    • Calculate key risk metrics
    • Apply ALM practices to better manage interest and liquidity risk on a balance sheet
  • Course Agenda
  • Other: See description under Tracks

Advanced Asset Liability Management

  • CPE Credits: 6
  • Field of Study: Accounting-Technical
  • Prerequisites: Basic understanding of interest rate risk, credit risk, and liability risk on a financial institution’s balance sheet and the ability to identify and measure these risks, or completion of Introduction to Asset Liability Management
  • Program Knowledge Level: Intermediate/Advanced
  • Instructional Delivery Method: Group live
  • Learning Objectives:
    • Understand model assumptions
    • Identify and apply derivative strategies
    • Adopt new investment analysis techniques
  • Course Agenda
  • Other: See description under Tracks

For more information regarding policies, complaints or refunds, please contact Kevin Peters at kpeters@eascorp.org, or by mail to: EasCorp, c/o Kevin Peters, 35 Corporate Drive, Suite 300, Burlington, MA 01801