Revived Banking Committee sets new agenda

By:
Chris Gaetano
Published Date:
Sep 13, 2016

Bank


The NYSSCPA’s Banking Committee is preparing for a flurry of new activity after a period of dormancy, which presents members with more networking opportunities with non-CPA associate members in the banking industry.

 Former NYSSCPA President Jo Ann Golden, who is serving as the new committee chair, noted that there are many areas where the world of banking and accounting intersect, and so it makes sense for there to be a committee devoted to them.

 “There is this incredible link between the accounting profession itself and the banking industry. Because they are market makers, as they say—people who provide financing—it’s a very important function in terms of the interaction between the groups,” she explained.

 Because there is so much overlap within the two communities, Golden said that the committee can serve as a great opportunity for networking and education. By creating a single place where regulators can meet directors, directors can meet CFOs, and CFOs can meet auditors, Golden said that “you have the ability to actually provide better services for whatever group you’re working for.”

 The newly revitalized committee is for any member connected to the banking industry, CPA and non-CPA alike—whether he works for a bank, regulates them, audits them, runs them from the C-suite or even, as in her case, serves on the board of directors for one. 

“We’re all in business, in a sense, so we want to have opportunities to have the best business models. I think from my perspective as a bank board member, obviously, I’m concerned about it from a different perspective than people who are going to be service providers to a company,” she said. “So, I’m looking at it from…different perspectives.”

 The committee’s first technical session, on cybersecurity, was scheduled for Sept. 15, and was spearheaded by committee members Paul C. Sinaly Jr. and William F. Schwenk. It will be followed by another session on Dec. 15, which, Golden says, will focus on accounting standards and regulations affecting the banking industry.

 Golden commented that the committee has found a comfortable rhythm since its June organizational meeting, having already developed subcommittees devoted to regulation, accounting standards and CPE. She said there has already been a lot of interest in the committee in the short time it’s been active.

 “I feel like there have been more people who have asked to join, and we welcome members because the fact is that this industry is so intertwined—CPAs who work in the industry and who service the industry—that it’s really important to have these discussions, the ability to have a forum and get the word out,” she said.

 The Banking Committee meets on the third Thursday of every month. Members interested in joining can contact Golden at joanngoldencpa@aol.com or can reach out to the NYSSCPA Committees Manager Nereida Gomez at ngomez@nysscpa.org. 

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