Shows
Issues of InterestFinTech in the banking industryIn this episode of "Issues of Interest," host Pat Morin sits down with Bryan Mulcahey, managing partner at FS Vector, to delve into the evolving landscape of FinTech and its impact on the banking industry. They explore how bank techs and embedded banking FinTechs are transforming financial services. Bryan shares insights on the advantages and opportunities FinTechs offer banks, such as improved customer experiences and expanded services. The conversation also touches on the role of AI, highlighting its potential to enhance efficiency and combat fraud. Tune in to discover how banks can leverage FinTech partnerships to stay competitive and...2025-02-2517 minIssues of InterestState and Local Tax Considerations for the Banking IndustryOn this episode of "Issues of Interest," Nick Smetana, tax manager, joins Leanne Scott, state and local tax principal, to discuss sales and use tax matters for banks and financial institutions. Discover why these often overlooked tax types are crucial, the importance of self-assessing use tax, and the impact of recent legislative changes in states like Vermont and Maine. Tune in for insights and practical advice to navigate the ever-evolving tax landscape.2025-01-2927 minIssues of InterestExploring meals and entertainment tax deductionsIn this episode of "Issues of Interest", host Adam Aucoin speaks with Connor Smart about the complexities of tax deductions for meals and entertainment, just in time for the holiday season. They explore the impact of the Tax Cuts and Jobs Act on these expenses, the upcoming changes in 2025, and the importance of meticulous record-keeping. Whether you're navigating business lunches or holiday parties, this episode offers valuable insights to help you stay compliant and make the most of your deduction.Find Connor's article which delves further in this topic here. 2024-12-1814 minIssues of InterestTax Impact of a Trump Presidency on Community BanksIn this episode of Issues of Interest, Joe Jalbert, banking practice lead, and Adam Aucoin, tax principal, discuss what they are hearing about potential tax changes in Trump’s second presidency. Adam talks about the tax changes during President Trump’s first term before outlining what came up on the campaign trail including possible adjustments to the tax rate, extensions for the Tax Cuts and Jobs Act, as well as shifts in how tipped income and Social Security benefits are taxed. Adam and Joe also discuss when these reforms could occur and steps community banks can take to b...2024-11-2119 minIssues of InterestRevealing the Truth Behind Common Cybersecurity Myths and Related Best PracticesIn this episode of "Issues of Interest," Information Systems and Risk Assurance principal Pat Morin joins cybersecurity manager Pawel Wilczynski to discuss the importance of cybersecurity for banks and financial institutions of all sizes. They address common misconceptions, such as the belief that small businesses are not targets for cybercriminals and that cybersecurity is solely an IT issue. The episode highlights steps organizations can take to boost security including employee training, strong passwords, and multifactor authentication. The cybersecurity e-book mentioned in the episode can be found on our website. 2024-10-3019 minIssues of InterestLessons learned from the adoption of CECLTune in to the latest podcast episode of Issues of Interest from Baker Newman Noyes, where host Jordin Milano discusses the implementation and lessons learned from Current Expected Credit Loss (CECL) adoption in the banking and financial services industry. Joined by guests Mark Haberland and Chase Ogden from Darling Consulting Group, this episode delves into the importance of ongoing monitoring, the CECL control environment, and effective governance. Discover how institutions can take ownership of their models, perform sensitivity testing, and monitor model assumptions. A note from Darling Consulting Group: Thank you for listening to t...2024-09-2630 minIssues of InterestPrivate Foundations in the Banking IndustryMany banks consider setting up private foundations because of the advantages they can provide. Private foundations can provide key PR benefits, help improve a bank’s standing in the community, provide an opportunity for members of the community to serve in a board role, and can control timing of charitable contributions.In this episode of Issues of Interest, BNN tax principals Adam Aucoin and Nick Porto discuss the intricacies of setting up and managing private foundations for banks. They talk through potential benefits, highlight potential pitfalls, and provide practical advice for avoiding common mistakes.Here at...2024-08-2723 minIssues of InterestHow can banks use R&D credits to their advantage?In this episode of Issues of Interest, BNN tax principal Adam Aucoin speaks with Dave Fleischer, principal at Business Resource Services, about R&D credits, what banks need to consider, and how they can plan ahead and use credits to their advantage. Banks and financial institutions are constantly navigating volatility and change. Here at Issues of Interest we help you stay current on what’s happening in the industry so you can achieve success for your institution. We cover assurance, tax, business advisory, and technology topics and trends affecting the industry. Subscribe today to receive news and...2024-06-2618 minIssues of InterestAndroscoggin Bank’s Corporate Impact Program: Promoting sustainable lending and investment in MaineIn this special guest episode of Issues of Interest, Pat Morin and Kirsten Dionne speak with Androscoggin Bank CEO, Neil Kiely, about a recent sustainability loan project the bank worked on with our ESG practice. Pat, Kirsten, and Neil discuss how the project came about, how they approached it in service of Androscoggin's overall ESG goals, and how this effort is reflective of the broader ESG space in Maine, New England, and beyond.2024-06-0327 minIssues of InterestIs your institution ready for Business Intelligence?In this episode, Travis Hersom and Darren Fishell discuss how institutions and businesses can use business intelligence to their advantage and what they should consider including data pipelines, data quality, visualization, and security. 2024-04-2422 minIssues of InterestHow the Tax Relief for American Families and Workers Act of 2024 could impact banks and financial institutionsIn this episode of Issues of Interest, Nick Amann speaks with Adam Aucoin about the Tax Relief for American Families and Workers Act of 2024 (H.R. 7024) bill that is currently in the Senate. Adam discusses what the current bill includes and the potential impacts for banks and financial institutions if it passes. More information on the how the bill could impact individuals can be found here. 2024-02-2818 minIssues of InterestThird-Party Vendor ManagementIn this episode of Issues of Interest, Zach Porter speaks with Pat Morin about third-party vendor management for banks and financial institutions. Pat outlines common reasons banks and financial institutions use third-parties and how to monitor those third parties and the related risks. He also discusses how to ensure third-parties provide the information needed for evaluation, and what your options are if you have concerns over the level of service or information provided by third-parties. More information on the FDIC's recent guidance on evaluating third-parties can be found on our website. 2024-01-2920 min
CSA Security UpdateWhy CPA Firms Excel in Cybersecurity AttestationsIn the latest CSA Security Update Podcast episode, we delve into the fascinating world of cybersecurity attestations and explore why CPA firms are increasingly leading the charge in this domain. Host John DiMaria is joined by Pawel Wilczynski, Cybersecurity Manager at Baker Newman Noyes (BNN), a top-ranked tax, assurance, and advisory firm and an accredited CSA STAR Assessment Firm.The episode delves into why CPA firms, traditionally known for financial audits, are exceptionally well-suited for cybersecurity attestations and how they apply their expertise in ensuring rigorous processes and adherence to standards like CSA STAR when performing cybersecurity...2024-01-1728 minIssues of Interest409A Nonqualified Deferred Compensation PlansIn this episode of Issues of Interest, Adam Aucoin speaks with Connor Smart about deferred compensation and 409A. Connor explains what 409A is, why it is important, and what the consequences and penalties are for noncompliance. With the severe consequences of 409A plan failure in mind, Adam and Connor discuss some of the key points to keep a plan compliant under 409A, where plan failures most often occur, and some of the tax planning nuances and complexities surrounding nonqualified deferred compensation plans.2023-12-1924 minIssues of InterestKey takeaways from the Bank Tax InstituteIn this episode of Issues of Interest, Adam Aucoin speaks with Tabitha Lamontagne about what they heard earlier this month at the Bank Tax Institute. Their discussion includes insights on the Employee Retention Credit, tax planning in a rising interest rate environment, deductions and timing issues, and what they are watching in the economic outlook. 2023-11-3016 minIssues of InterestCybersecurity for the banking industryIn this episode, Pat Morin speaks with Pawel Wilczynski about the current cybersecurity landscape, covering issues impacting the banking industry such as ransomware and third-party risk, as well as strategies organizations and bank leaders can use to minimize cyber risk. For additional resources check out: https://www.bnncpa.com/resources/cybersecurity-risks-in-the-banking-industry/2023-10-3126 min