FEI CHICAGO CHAPTER NEWSLETTER
OCTOBER 2018 
  
FEI CHICAGO CHAPTER | 4210 W. IRVING PARK RD., CHICAGO, IL 60641 

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October Dinner Meeting -  Thursday, October 18, 2018
"Leaving a Legacy" A Talk w ith Jeff Hoffman, Serial Entrepreneur
Cocktails 5:30pm; Dinner 6:15pm; Program 7:00pm
The Metropolitan Club, Oak Room, 233 S. Wacker Drive, Willis Tower, Chicago
Free to FEI Chicago Chapter Members; $100 Guests  
RSVP by October 15 to [email protected]  or 312-263-1661
Or click here to register online 

Jeff Hoffman
In this inspiring and insightful discussion, Jeff Hoffman starts by sharing his own story of hard work and success that led him to a place he thought he wanted to be, only to realize that something was still missing. Through a series of life changing events that Jeff shares with the audience, he discovered the true meaning of legacy, and began to change his own life to find ways to leave a legacy that truly matters. Attendees will learn about leaving their own legacy, as well as how to be part of the legacy each of your employees leaves, and how to position your business and your company to leave its own lasting legacy long after you are gone. This presentation is an entertaining and educational mix of "how-to" advice for leaving your legacy, as well as thought-provoking anecdotes and ways that Jeff will challenge the audience members that is sure to leave a big impact on all who attend.

Jeff Hoffman is a successful entrepreneur, proven CEO, worldwide motivational speaker, published author, Hollywood film producer, and a producer of a Grammy winning jazz album. In his career, he has been the founder of multiple startups, he has been the CEO of both public and private companies, and he has served as a senior executive in many capacities. Jeff has been part of a number of well-known companies, including Priceline.com. uBid.com, CTI, ColorJar, and more. Today he is Managing Partner of Legend52, an investment fund created to buy professional sports teams, as well as invest in technology and entertainment.  Click here to read more about Jeff Hoffman. 

Professional Development Session -  Annual GAAP/SEC Accounting Update
Thursday, October 18, 2018
Registration and Refreshments 3:00pm;  Program 3:30pm-5:30pm
The Metropolitan Club, 233 S. Wacker Dr., Michigan Room 66th Floor, Willis Tower, Chicago
Free to FEI Chicago Chapter Members; $25 for Guests      
RSVP to  [email protected]  or 312.263.1661
Read more and register
 
"Annual GAAP/ SEC Accounting Update"
The FEI Chicago Chapter hosts an update on major developments that may affect your company's accounting and financial reporting, including recently and soon-to-be-effective FASB standards having wide applicability to all members' companies.

The major item to be discussed this year is the major accounting standard on lease accounting. The lease pronouncement now requires all operating leases to be recorded as a right-to-use asset and related lease obligation on the balance sheet with different P&L recognition for operating vs. finance (capital) leases.
Although most public companies have already adopted the new revenue recognition standard, non-public entities need to adopt this major standard in a few months. Representatives from Crowe will not dive into the Revenue Recognition standard to the level of the Five-Step Model we've heard about in prior years, but will discuss key leanings from public companies, especially the intricacies of expanded disclosures requiring modified processes and potentially systems solutions.

The new CECL (Current Expected Credit Loss) rules will impact the bad debt calculation recorded against trade accounts receivable for many companies.

Fortunately, accounting standards have had limited applicability for a number of years often requiring an overlay to the operational financial statements. The Revenue Recognition, Leasing and CECL accounting standards have the potential of greatly affecting major operational aspects of all businesses. Technical accounting experts from Crowe LLP will help us understand these impacts and how best to address our concerns in the short time remaining for some of these items.


Scott G. Lehman, CPA is a partner in Crowe LLP's National Office and serves as the firm's partner in-charge of accounting. He is responsible for formulating firm positions on technical accounting matters under US GAAP and IFRS for both private and public companies.  Read more about Scott.  

Sean Prince, CPA is a senior manager in Crowe's Assurance Professional Practice (APP). He supports Crowe's audit and advisory practices on complex technical accounting issues, including revenue recognition, lease accounting, accounting for financial instruments, and consolidation. Read more about Sean.

Kevin Wydra, CPA is a partner in Crowe LLP and serves as the Audit Transformation Leader for the firm. This role oversees certain areas such as Audit Methodology, Centralized Audit Services, Audit Technology, Audit Analytics and Training. Read more about Kevin.


prez PRESIDENT'S MESSAGE
Maggie Martensen  
" Life starts all over again when it gets crisp in the fall" - F. Scott Fitzgerald

Fall has always been my favorite season. The changing colors, rustling leaves, and the crisp coolness in the air show me that as I say goodbye to that which has been good, it allows room to anticipate and receive the transformation of the coming seasons. As we contemplate the autumn season and the changes it ushers in, we are reminded of the changes the financial profession faces. We kicked off our fall season immersed in the world of automation and robotics exploring the changes and challenges these technologies bring to the finance workforce.

Exceptional leadership in times of change and uncertainty is part of what distinguishes FEI and its members. Today's financial executives are increasingly change agents leading organizational transformation and Chicago's financial leaders rise to the top. This year we will gather on November 13th for our 8th Annual Chicago CFO of the Year Awards. Come celebrate exceptional financial leadership!

Maggie Martensen
FEI Chicago Chapter President
[email protected]  

cfoyaCHICAGO CFO OF THE YEAR® AWARDS 
 

We invite you to attend the 2018 Chicago CFO of the Year® Awards
Tuesday, November 13, 2018
Marriott Magnificent Mile
540 N. Michigan Ave., Chicago

Cost to attend:
Individual Tickets $175pp
FEI Chicago Members $100pp
Corporate Table of Ten $1,600

Networking/Dinner Reception:
5:30pm-7:00pm

Awards Program:
7:00pm-8:15pm

FEI Chicago invites you to the 8th Annual Chicago CFO of the Year® Awards with the "Who's Who" of Chicago finance. Join the FEI Chicago Chapter to mingle and network with Chicago's C-Suite, while recognizing exceptional performance of Chicago's financial professionals in their roles as corporate stewards. Awards will be presented in five categories: public, mid-size private, large private, mid-size not-for-profit, and large not-for-profit. Cocktails, hors d'oeuvres and dinner at gourmet food stations will be served during this must attend upscale networking reception from 5:30 to 7:00 pm. Following this reception, attendees move into the ballroom to be seated for dessert and the awards presentation. 

Our Esteemed Judges
Michele J. Hooper, (Non-Voting Chair) President and CEO, The Directors' Council; Cheryl K. Beebe, Former Executive Vice President and Chief Financial Officer of Ingredion Incorporated; John A. Edwardson, Retired Chairman of the Board of Directors of CDW; Beverly R. Walther, Chair, Department of Accounting Information & Management and Professor of Accounting Information & Management, Kellogg School of Management at Northwestern University.

Our Outstanding 2018 Chicago CFO of the Year ® Finalists
Ashish Agrawal, CTS Corporation; Ken Amann, Cresco Labs; Gordon Anderson, The Clarke Group, Inc.; Barry S. Anstandig, Rescar Companies; Jeffrey J. Bethke, DePaul University; Walter G. Borst, Navistar International Corporation; Daniel Cervantes, Skills For Chicagoland's Future; Vincent Everson, Jewish Child & Family Services; Paul Hoelscher, Horizon Pharma plc; Mark Janek, Energy Distribution Partners; Jim Japczyk, D&W Fine Pack; Karen Kane, Marillac St. Vincent Family Services; Ron Kruczynski, Paper Source Inc.; Mike Magner, Ice Mobility; Cheryl Murphy, Mercy Home for Boys and Girls; Tom Nickele, Clune Construction Company LP; Dana Phillips Goodum, Illinois Sports Facilities Authority; Bob Probst, Ventas, Inc.; Wes Saber, HARIBO of America, Inc.; Kyle Sauers, Echo Global Logistics; Jennifer Schultz, Illinois CPA Society; Patrick Sullivan, Brilliant; Peter Walton, The Great Books Foundation; Laurie Wettstead, AIDS Foundation of Chicago.












 spabreakfastSTRATEGIC PROFESSIONAL ALLIANCE (SPA) 
Strategic Professional Alliance (SPA) Breakfast on Diversity
Wednesday, October 24, 7:30am

7:30am Registration/Hot Buffet Breakfast/Networking
8:00-9:00am - Diversity Program with Theresa Shea of True Value
Maggiano's Little Italy Banquet Facilities, 111 W. Grand Ave., Chicago
Valet Parking Available - $16
Please RSVP by Friday, October 19 to [email protected] or 312-263-1661. 
Theresa Shea

In today's world, organizations need to be sensitive to Diversity and Inclusion.  Large Cap companies have  VPs of Diversity with staff, as well as funds for consultants. What can you do if you are not a large company with unlimited resources?  

Theresa Shea, Vice President and General Counsel at True Value Company, lead a corporate-wide process to establish True Value's new Diversity and Inclusion programs. Join the FEI Chicago Chapter's SPA committee on October 24 to find out how embracing diversity is critical to successful partnering and collaborating.

Ms. Shea joined True Value in 2007 as Assistant General Counsel and recently become VP and General Counsel. She was Senior Counsel at United Airlines prior to joining True Value and began her career at Seyfarth Shaw. She earned undergraduate and law degree at University of Illinois and a Certificate in Executive Management at University Notre Dame - Mendoza College of Business.

INVESTFEI MEMBERSHIP - INVEST IN YOUR CAREER
Financial Executives International (FEI) provides premier benefits and services to more than 10,000 best-in-business financial professionals around the globe, including: peer networking; unique, timely research and professional development; unparalleled educational opportunities; career management services; exclusive members only portal; continuous engagement at the chapter level; and much more! And
FEI's Corporate Membership Program provides the opportunity to extend FEI's benefits and more to your organization's "pre-eligible" finance team members. Learn more about membership here.
 
Financial Executives International (FEI) is the leading advocate for the views of corporate financial management. Its more than 10,000 members hold policy-making positions as chief financial officers, treasurers and controllers at companies from every major industry.

members WELCOME NEW & RETURNING MEMBERS 
Brian Dunkel
CFO
Wittenstein Holding Corp.
Randal Levy Lowell Mora
Kyle Sauers
Chief Financial Officer
Echo Global Logistics


CMGCAREER MANAGEMENT GROUP 

October Career Management Group Breakfast
Thursday, October 4, 2018, 7:15am
Hero Habits: The Guide to Thriving in Corporate America & in Life:
The 7 Habits to Unleash the Hero in You with Michael Hahn
Registration and Breakfast at 7:15am; Program begins at 7:45am 
Carlucci's Rosemont, 6111 N. River Road, Rosemont 
Free parking in valet lot located in front of the restaurant
Free to FEI Chicago Chapter Members; $25 for Guests    
RSVP to  [email protected]  or 312.263.1661

Michael Hahn is an internationally known expert on organizational culture, employee engagements and
personal behavior change. He is Culture Guru and CEO of Beyond Good Teams and the author of Hero Habits: The Guide to Thriving in Corporate America and in Life. He brings high energy, intense passion and humorous style to inspire audiences to reclaim their time, energy and motivation to embrace their inner hero.  He specializes in motivational and strategic business speaking, executive coaching, leadership team alignment and culture transformation consulting.

Michael is Internationally certified and holds a dual M.B.A. in Entrepreneurship & Leadership and Change Management from DePaul University and a Bachelor of Science degree in Finance from NIU. He has 20+ years of corporate experience in Finance, Strategy, Business Development, HR and Corporate Relations.
"R ise Up - A Guide to Rapid Career Progression"
with Jeremy Netzel, CFO of @properties 
Friday, October 26, 2018, 7:00am 

Jeremy Netzel
Please join the FEI Chicago Chapter A&AB on October 26, 2018 for our quarterly C-Suite Breakfast: "Rise Up - A Guide to Rapid Career Progression." Our guest speaker will be the Chief Financial Officer of @properties and Proper Title, Jeremy Netzel. @properties is the largest independent real estate brokerage firm in the Midwest which generates nearly $9 billion in annual sales volume. Since joining the company in 2011, Jeremy has played a key role in supporting the company's growth at an annual rate of more than 26%. In addition to his role at @properties, Jeremy is CFO at Proper Title, the second largest independent title agency in Illinois.  He also serves as an advisor to several local tech startups and is President of the Associates Board of Working in the Schools, a not-for-profit focused on children's literacy. Before joining @properties, Jeremy held various finance and accounting positions at Motorola and Orbitz.  Jeremy graduated from Northern Illinois University with a B.S. in Finance; he is a Chartered Financial Analyst (CFA) and a CPA Candidate.  To register, email 
[email protected]

We encourage you to visit our facebook page.


FEI Chicago has a presence on a variety of social channels!


If you want to watch a video recording of a guest speaker from a past event, then the
FEI Chicago YouTube Channel  is where you want to go.

Looking to view & share photos from an FEI Chicago social outing? Look no further than the  FEI Chicago Facebook Page .

The social channel which FEI Chicago has the largest presence is easily LinkedIn. Members can view private postings and conversations on the  FEI Chicago LinkedIn Group Page

Also, the FEI Chicago LinkedIn Organization Page is the face of the organization on social and is open to the public.


The FEI Chicago Twitter Page is your source for financial news and live updates from events.


NEW! FEI is now on Instagram. Follow us for more photos from FEI events, social outings, and as see us prepare for some of our most anticipated events of the year.

calenderEVENTS
Questions? Contact [email protected] or 312.263.1661.
 

October 2018

Thursday, October 4, 2018
Career Management Group Breakfast Meeting  
Hero Habits: The Guide to Thriving in Corporate America & in Life - The 7 Habits to Unleash the Hero in You with Michael Hahn
Registration and Breakfast at 7:15am; Program begins at 7:45am 
Carlucci's Rosemont, 6111 N. River Road, Rosemont 
Free parking in valet lot located in front of the restaurant
Free to FEI Chicago Chapter Members; $25 for Guests    
RSVP to  [email protected] or 312.263.1661

Thursday, October 18, 2018
PD Session 
GAAP & SEC Update with Crowe LLP
3:00-5:30pm (Registration & Refreshments at 3:00pm; Program 3:30-5:30pm))
The Metropolitan Club, Willis Tower,  233 S. Wacker Dr., Michigan Room 66th Floor, Chicago
Free to FEI Chicago Chapter Members; $25 for Guests    
RSVP to  [email protected] or 312.263.1661

Thursday, October 18, 2018
Dinner Meeting 
"Leaving a Legacy: A Talk with Jeff Hoffman"
5:30pm (Cocktails 5:30pm; Dinner 6:15pm; Program 7:00pm)
The Metropolitan Club, Willis Tower, 233 S. Wacker Dr., Oak Room 66th Floor, Chicago
Free to FEI Chicago Chapter Members; $100 for Guests    
RSVP to  [email protected] or 312.263.1661  
Click here to read more and register 

Wednesday, October 24, 2018
SPA Breakfast on Diversity & Inclusion with Theresa Shea of True Value
7:30am
Maggiano's Little Italy Banquet Facilities, 111 W. Grand Ave., Chicago
Free to FEI Chicago Chapter Members; $40 for Guests
RSVP to [email protected] or 312-263-1661

Friday, October 26, 2018
FEI A&AB C-Suite Breakfast 
"Rise Up - A Guide to Rapid Career Progression" 
Jeremy Netzel, CFO of @properties & FEI Chicago Chapter Member
7:00-9:00am
311 South Wacker Drive, Franklin South Room, Chicago
Free to A&AB & FEI Chicago Chapter Members
Seats are limited!
FEI Members click here to register 


November 2018

No CMG Breakfast this month, see you at the CFO of the Year Awards!

Tuesday, November 13, 2018
8th Annual Chicago CFO of the Year Awards
5:30pm  
Chicago Marriott Downtown Magnificent Mile
540 N. Michigan Ave., Chicago  
Individual tickets - $175; FEI Chicago Chapter Members $100pp
Premier Tables of 10 - $1,600

leaderCHAPTER LEADER ROSTER

 
sponsor SPONSORS
Platinum Sponsor
 


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Gold Sponsors


 

 
   
  

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 Silver Sponsors







snews SPONSOR NEWS



From Gold Sponsor Plante Moran
How significant is the risk of tariffs to investors? As trade issues continue to dominate headlines, it is important to maintain perspective on what it means to the economy and investor portfolios. The recent announcement of a new pact with Mexico was met with optimism by the markets, but a great deal of uncertainty persists, most notably in terms of trade relations with China. Visit our website  to read what these developments mean for investor portfolios.


From Silver Sponsor Brilliant
Brilliant™ Publishes its Q4 2018 Accounting, Finance and IT Hiring Forecast
Brilliant , an award-winning direct-hire, contract and consulting practice specializing in accounting, finance and information technology, recently released its Q4 2018 Hiring Forecast. The research indicates that businesses are reporting a record-high number of open positions in accounting, finance and information technology heading into Q4 2018. In fact, the data shows the highest number of open positions in five years, and the highest plans to increase hiring in three years. To download the full report, click here.  


From Silver Sponsor Entara
Entara (formerly YJT Solutions) partners with strategic IT leaders to bring traction to the IT journey into the future by leveraging an IT roadmap process, a customizable ServiceNow ITSM platform, 24x7x365 Help Desk and Infrastructure Management, SD-WAN solutions, AWS and Azure expertise, business process automation, and a practical vision of the future of IT for the mid-market. Located in downtown Chicago, entara sets the new standard of IT managed services and future readiness. Please visit our website to learn more: www.entaracorp.com

 
From Silver Sponsor The Mentor Group/CMP Midwest
The Future of Work: Global Research Survey & Lunch & Learn Session, October 18, 2018
A number of forces are changing the way we work individually, across boundaries and in teams. These key forces include increased complexity, globalization and the emergence of Artificial Intelligence (AI). At the Future of Work we will share the trend setting results from CMP's 3rd annual Global Survey along with a unique look at the use of AI across a number of very "human" functions such as profiling, recruiting, and developing talent. Thursday, October 18, 11:30am, Maggiano's Italy, 4999 Old Orchard Center, Skokie. Click here to register. 

From Silver Sponsor Mercer
Plan for the Future of Rewards with Mercer
Voluntary turnover is on the rise, employee satisfaction with pay is declining, and competition for talent gets tougher by the day, yet salary increase budgets are projected to remain relatively flat for the foreseeable future. What should you be doing differently? Learn how you can be more strategic with compensation and rewards to help you compete for and build your workforce for the future by joining Mercer's Planning for the Future of Rewards Webcast on Tuesday, October 2 at 12:00pm CT. To learn more or to register, click here.  



From Silver sponsor Robert Half
Get on Target: Is Your Firm Ready for the Lease Accounting Standard?
The Financial Accounting Standards Board's new lease accounting standard doesn't take effect for public companies until January 2019 and then January 2020 for all other organizations. But if there's one thing financial professionals have learned from their revenue recognition adoption efforts, it's never too early to start the process.  Read more here:  Get on Target: Is Your Firm Ready for the New Lease Accounting Standard?



From Silver Sponsor RSM
RSM's accounting thought leaders will share an update on their next webcast to middle market businesses on recently issued and proposed accounting guidance. During this webcast they'll cover standard setting and reporting developments related to new revenue, leases and financial instruments guidance Join us on Octoer 18th.



From Silver Sponsor Sage Intacct
G2Crowd recently published an Accounting Grid Report that named Sage Intacct as the undisputed leader in customer satisfaction with a score of 98 out of 100 in the report.  Sage Intacct has always been focused on developing innovative finance software that delivers an outstanding customer experience.  To see an infographic that dives into our exact customer satisfaction ratings along with some pertinent customer quotes, click here .

And, here is our customer heroes e-book that has several customer stories which are relevant to any finance organization - Click here