FEI CHICAGO CHAPTER WEEKLY UPDATE
Week of September 14, 2020
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FEI Leadership Summit, GAAP/SEC Update, Harry Kraemer,
CFO Webinar, Cooking Class, Race Series, Mentoring, Our Sponsors
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Chicago is the host city for Summit – Vision 2020
How can a city host a virtual summit, you ask? Come and see!
“Your FEI Chicago team helped put together a terrific event for Summit 2020. Moving it online will only change the format, not the impact. I welcome you to take part in our FIRST EVER virtual summit!” Frank Cesario, Host Committee
Join more than 500 fellow finance leaders to focus on learning, collaboration, and building ideas for the rapidly changing future, while earning up to 26 CPE credits. This six-day event will feature sessions critical to finance professionals as we traverse the “new normal.” Engage in conversations and interact within a prominent community to challenge your thinking and share your obstacles as you build strategies to guide your company through the COVID-19 pandemic.
Additionally, FEI recognizes the impact of the pandemic on members and their organizations. The importance of coming together to learn and engage is more critical than ever. With this in mind, the registration fee for the conference has been reduced to only $149 for Members, $249 for Non-Members.
Can't make it? Register anyway to take advantage of the conference as an on-demand opportunity. CPE requirements for each session can be completed by December 31, so register now even if you are unable to attend the live conference!
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Tuesday, September 29, 2020 1:00 – 2:00 PM CT
Join FEI’s Tanya Yakhnis and Scott Settersten as they discuss embracing the new normal as the future for financial leaders.
SAGE IS TAKING ALL RSVPs
Click here to read more and register with webinar host Sage
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Scott Settersten
CFO
Ulta Beauty
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Tanya Yakhnis
CFO
TandemHR
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Join fellow FEI foodies for a night of fun with First American and Chef, Christin Ortiz. Together on Zoom, we’ll learn how to prepare a seasonal Italian dish, including homemade pasta and a creamy butternut squash sauce. Prior to the event, you will receive an ingredient shopping list, ideas for complimentary side dishes, and a special gift from event sponsor, First American. Let’s get cooking!
FALL Into Flavor, Seasonal Cooking Class with FEI Chicago and First American
Tuesday, October 6, 2020 from 5:00—6:30 pm
This free event is open to FEI Chicago Chapter members.
Registration Deadline is September 25 (firm), to receive your gift prior to the class.
Seats are Limited! Family members are welcomed and encouraged!
After registering, email your preferred mailing address to Susan at info@feichicago.org to receive your gift from First American!
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FEI CHICAGO CALL TO ACTION,
OPPORTUNITY TO MENTOR!
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Several FEI Chicago Chapter committees are working on plans for the year ahead, including a variety of possible mentorship programs. We would like to assess FEI member interest in mentoring students and/or young professionals. Due to the pandemic, this program will start out as a virtual one, and will evolve as the world changes. These programs will be developed based on the responses from our members.
Mentors have a chance to: "pay it forward" by sharing their expertise with emerging finance professionals; enrich their own perspectives and learn new skills and approaches by exchanging ideas with their mentees and fellow mentors; expand their networks, developing new contacts and friendships.
If you have any interest in learning more about this mentorship opportunity or have any input, please contact Tanya Yakhnis, FEI Chicago Chapter Student Awards Chair at tyakhnis@TandemHR.com. |
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FEI CHICAGO VIRTUAL PROGRAMMING |
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FEI Chicago Chapter Annual GAAP/SEC Update
With Crowe LLP
Thursday, September 17, 2020
Webinar 4–5:30 PM; Optional Happy Hour 5:30—6 PM
No charge to attend. Guests welcome! Seats are Limited!
Online Registration Only. Click here to register by Tuesday, September 15.
A link to this Zoom webinar will be sent out a day prior to the event.
It’s that time of the FEI year for our Annual GAAP/SEC Update, except this year it will be a virtual event. With the Coronavirus pandemic and its impact on businesses, major FASB projects like lease and long-term insurance contract accounting, hedging and current expected credit losses (CECL) have been delayed at least a year primarily for private companies. So why have the GAAP/SEC update this year? The pandemic and its impact on the economy has impacted numerous FASB disclosures in formal audited financial statements including, but not limited to, the following:
- Triggering events requiring goodwill and intangible impairment reviews
- Required “Going Concern” disclosure about the impact on a company’s financial statements
- A multitude of impacts related to lease modifications and terminations, both under the new lease standard and even if the new standard has not yet been adopted
- Accounting for Paycheck Protection Program (PPP) and related forgiveness
These impacts as well as several other impacts to accounting for income taxes, stock compensation, uncollectibles, revenue recognition and internal controls will be covered.
Our presenters from Crowe will be Sean Prince and David Wentzel. As we’ve noted from prior years, Sean and David work better under the pressure of a looming cocktail hour.
We hope you can join us for that.
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"Your 168: Finding Purpose and Satisfaction in a Values-based Life" with Harry M. Jansen Kraemer, Jr.
Thursday, September 24, 2020
Webinar 4-5pm; Optional Happy Hour 5-6pm
No charge to attend. Seats are Limited!
This event is open to FEI Chicago Members/Sponsors & Eligible Prospective Members.
Online Registration Only. Click here to RSVP by Tuesday, September 22.
A link to this Zoom webinar will be sent out a day prior to the event.
“Your 168: Finding Purpose and Satisfaction in a Values-based Life”
Despite our good intentions, many of us experience a chronic imbalance between the desire to live our values and the distractions and never-ending to-do lists that can get in the way. In Your 168: Finding Purpose and Satisfaction in a Values-Based Life, readers learn how to pursue a values-based life by identifying and committing to their values and priorities. Harry uses personal stories and insights from others to help readers discover the dissonance between what they say is most important and where they actually devote their time. Read more about Harry.
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FEI Chicago Chapter and Sage Intacct present
The Changing Role of Finance Leaders in Today's Environment
With Tanya Yakhnis, CFO, TandemHR & Scott Settersten, CFO, Ulta
Tuesday, September 29, 2020, 1:00—2:00 PM CT
Online Registration Only. Click here to RSVP with Sage.
Sage will send a link to this webinar upon registration.
With today’s ever-changing environment, business leaders need the insights of their finance leaders now more than ever. This goes beyond building financial reports, and can encompass everything from strategic planning, navigating government stimulus plans, and even providing consulting services to your customers. Finance leaders that have successfully evolved to meet these challenges have been able to increase profits by up to 20%. But how?
Join FEI’s Tanya Yakhnis, TandemHR’s CFO and Scott Settersten, CFO of Ulta, as they discuss embracing the new normal as the future for financial leaders. In this session, we will cover:
- Evolution of the CFO – from data management to analysis
- Components of a great finance leader – thinking beyond the numbers
- Things to know and have under your control – people, technology and strategy
- Being a leader in today’s environment – accelerate in the new norm
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FEI Chicago Chapter IDEA Committee hosts
Uncomfortable Conversations about Race Series | Color Blindness to Color Conscious, Professor Cindu Thomas-George
Wednesday, September 30, 2020
Webinar 4:30—6pm
Open to FEI Members, Sponsors and Their Guests
Online Registration Only. Click here to RSVP by Monday, September 28.
Seats are Limited!
A Zoom link will be sent out to registrants a day prior to this session.
From Color-blind to Color-conscious: Advancing Inclusion in Finance
Join FEI Chicago and Cindu Thomas-George for our 2nd installment in the Uncomfortable Conversations about Race series. In this session we will learn about the colorblind ideology and why it has been detrimental and unproductive in moving racial equality forward inside and outside of the workplace.
Cindu Thomas-George is the Founder and Principal Trainer of Shakti Diversity and Equity Training. As a diversity and inclusion practitioner, she designs and facilitates professional development experiences that promote equity, inclusion, anti-racism, and intercultural competence. Read more about Cindu.
We look forward to engaging with our members on this important topic, and to supporting each other in the conversations ahead.
Save the date for our 3rd conversation of our race series:
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Virtual Career Management Group Breakfast “Rapport Secrets: How Leaders Create Successful Connections”
with Lynne Franklin, Communication Consultant, Coach and Speaker
Thursday, October 1, 2020, 8:00—9:00 AM
No charge to attend. Guests are welcomed.
Online Registration Only. Click here to RSVP by Tuesday, September 29.
A link to this Zoom webinar will be sent out a day prior to the event.
Rapport makes all other things possible—the connection, relationships and trust that lead to career and business success. Lynne interviewed 90 leaders in different fields and asked them, “What’s your secret to building rapport quickly and maintaining it over time with your clients and people?” In this interactive program, you’ll discover their top strategies and tactics. This will help you better use rapport to reach your goals—despite the challenges of managing your people remotely and holding most of your meetings online.
Lynne is a leadership communication consultant, coach and speaker, and past president of the National Speakers Association Illinois Chapter. She wrote Getting Others To Do What You Want and is working on her next book—Leaders on Rapport: Secrets to Creating Successful Connections. Read more about Lynne.
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Financial Executives International Financial Leadership Summit
October 6—22, 2020
EARN UP TO 26 CPE CREDITS
$149 for Members, $249 for Non-Members
Attend FEI's Virtual 2020 Financial Leadership Summit and leave with best practices and business strategy solutions to empower your workforce and foster a culture of success. www.financialexecutives.org/summit #FEIsummit2020
Can't make it? Register anyway to take advantage of the conference as an on-demand opportunity. CPE requirements for each session can be completed by December 31, so register now even if you are unable to attend the live conference! |
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FEI Chicago Chapter Fall Into Flavor Seasonal Cooking Class
With Chef Christin Ortiz & First American Equipment Finance
Tuesday, October 6, 2020, 5:00—6:30 PM
Registration Deadline is September 25 (firm) to receive your gift.
This free event is open to FEI Chicago Chapter members.
Online Registration Only. Click here to RSVP by Friday, September 25.
Seats are Limited! Family members are welcomed and encouraged.
A link to this Zoom cooking class will be sent out a day prior to the event.
Join fellow FEI foodies for a night of fun with First American and Chef, Christin Ortiz. Together on Zoom, we’ll learn how to prepare a seasonal Italian dish, including homemade pasta and a creamy butternut squash sauce. Prior to the event, you will receive an ingredient shopping list, ideas for complimentary side dishes, and a special gift from event sponsor, First American. Let’s get cooking!
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FEI Chicago Chapter New Member Welcome Webinar
Friday, October 9, 2020, 8:00—9:00 AM
Online Registration Only. Click here to RSVP by Wednesday, October 7, 2020.
Via Zoom, Details will be sent out to registered attendees via email the day prior to the event.
The FEI Chicago Chapter will sponsor a new member welcome webinar on Friday, October 7, 2020, 8am via Zoom. We will provide an overview of the many benefits, committees, programs and special events that make our chapter such an outstanding organization.
All members are welcome to attend this webinar, as we will highlight resources and benefits available to members.
We look forward to welcoming our new members to our Chapter!
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Save the Date for These Upcoming Virtual Meetings!
Friday, October 23 - A&AB C Suite Breakfast, Topic TBA, 8am
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FEI Chicago Chapter Virtual Panel Discussion
"Creating and Raising Liquidity During the Pandemic"
Held August 25, 2020
Our panel included experts from a national accounting firm, a restructuring firm, a law firm, and a financing source. Watch as they discuss best practices for obtaining liquidity during this unique business environment.
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FEI Chicago Virtual Career Management Group Breakfast
"Executive Compensation and COVID Impacts/Considerations for Executive Incentive Plans"
with Linda VanDeventer, Compensation Consultant
Held September 3, 2020
This session discussed Executive Compensation Trends for 2020 and salary increase projections for 2021. With the uncertainty of COVID, Linda also discussed what's been happening during 2020 to executive incentive plans. She presented factors to consider in deciding whether or not to make mid-year changes to plans due to COVID.
Linda VanDeventer is a Compensation Consultant who counsels executives and corporations on compensation strategies.
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WATCH PAST FEI CHICAGO PROGRAMS ON YOUTUBE |
Subscribe to our YouTube channel for full-length videos from past presentations and highlight video clips from special events.
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REMINDER: MEMBERSHIP DUES DISCOUNTS REFLECTED IN RENEWAL INVOICES THROUGH 6/30/2021 |
Please note that all membership renewal invoices issued from 7-1-2020 through 6-30-2021 reflect a dues reduction of $100 for Executive and Entrepreneur categories and $50 for In-Transition, Academic and Retired categories.
As you consider your renewal please be assured that we greatly value your membership. During these challenging times, it is more important than ever that Finance Executives (whether seated or in transition) have a robust community to lean on and resources to help us navigate the turbulence, change and the uncertainty. Please be assured that FEI Chicago will continue to offer a robust virtual offering in place, which we are further enhancing every day to ensure our members have what they need to lead effectively.
We look forward to your continued engagement in all that FEI has to offer and look forward to the days when live programming once again resumes.
If you have any questions or concerns regarding your renewal please feel free to contact Rich Kuzmar (312-515-1017 or ccarak1@yahoo.com) or Susan Gidley (312-263-166 or info@feichicago.org). |
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FEI CHICAGO CHAPTER RESOURCES
FROM OUR CHAPTER SPONSOR PARTNERS
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Below are some important resources from our Chapter Sponsor Partners. We hope this information will be helpful to you during these extraordinary times. FEI Chicago Chapter Sponsors can send any resources to our Sponsorship Chair, Skip Newman at skip.newman@gmail.com.
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From Grant Thornton
2020 CFO Survey Report, entitled “Building Your New Normal”
From RSM
The September 2020 issue of The Real Economy, entitled "Small and Medium-size Firms in Crisis" is now available. Articles include:
· Major policy shift at the federal reserve: Average inflation targeting
· Hotel occupancy data: It's only half the story
· Industry spotlight: More promise, more problems for life sciences
· Middle market trend watch: Reopening considerations
From Sage Intacct
Join Sage each week for some insightful conversation and take the opportunity to network and learn with your financial services finance peers. How can we, as finance leaders, lead our organizations forward and support growth? We’ll discuss and share strategies for gaining visibility and insight into organization financials, using technology to drive growth, and insights into what’s next for the financial services industry. Schedule of Sessions:
· Sept. 16 @ 1:00 pm CT – The Future of Wealth Management: What’s Happening Now
· Sept. 23 @ 1:00 pm CT – Best Practices of a Modern Financial Services Firm: a CFO’s Journey
· Oct. 7 @ 1:00 pm CT – The Power of Budgeting, Planning & Forecasting During Uncertain Times
· Oct. 14 @ 1:00 pm T – KPIs & Metrics that Matter for Financial Services Firms
Join these 30-minute sessions and take the opportunity to network, learn, and share with your healthcare finance peers. We’ll discuss and share strategies for gaining visibility and insight into organization financials, using technology to drive growth, and insights into what’s next for the healthcare industry. Schedule of Sessions:
· Sept. 17 @ 1:00 pm CT – The Paperless Office
· Sept. 24 @ 1:00 pm CT – The KPIs of Vets
· Oct. 1 @ 1:00 pm CT – Partner Conversation: Replacing Manual Tasks to Increase Efficiency
· October 15 @ 1:00 pm CT – Evolving Payment and Delivery Models
· November 19 @ 1:00 pm CT – What’s Next with HIPAA
· December 17 @ 1:00 pm CT – What’s On Tap for 2021
From HUB International
UP NEXT: Recalibrating Your Employee Compensation Strategy
Wednesday 9/16/2020 11:00 AM – 12:00 PM CT
Work is evolving in response to the COVID-19 pandemic. As a result, business owners, finance managers and HR leaders need to recalibrate their compensation approach to ensure program goals and objectives align with this new reality. Join the discussion to learn about key considerations for reviewing and updating your compensation philosophy, programs and practices.
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CONNECT WITH FEI ON SOCIAL MEDIA |
Our chapter is active on many different social channels. So, you can pick the one that works the best for you! Here is a quick rundown of where you can find us and what you can expect from each channel: |
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Like us on Facebook for daily updates on the latest FEI news and upcoming events. We also post photos and video clips from past events as well as clips highlighting our sponsors. Visit www.facebook.com/FEIChicago to like our page! |
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Subscribe to our YouTube channel for full-length videos from past presentations and highlight video clips from special events. Visit www.youtube.com/FEIChicago to view our channel! |
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Follow us on Twitter for daily FEI updates and news relevant news articles from top publications, like Forbes and USA Today. Visit www.twitter.com/FEIChicago to follow our Twitter page. |
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We look forward to connecting with you on social media! |
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