Issues of Interest

AI is a frequent topic of conversation but what do we really mean when we say artificial intelligence? How are banks and financial institutions already using AI, and what are the benefits and potential pitfalls?In this episode of Issues of Interest, BNN's Information Systems and Risk Assurance practice lead, Pat Morin, sits down with Krystal Martin, senior manager at BNN, and Ryan Robinson, senior director at Mainstay Technology to talk about what AI is and its potential to revolutionize tasks like credit analysis and fraud detection. They also discuss potential risks and why cybersecurity is more important than ever. Tune in to learn more about how institutions can balance leveraging AI's benefits with safeguarding against its threats.Connect with Pat Morin on LinkedIn: https://www.linkedin.com/in/patrickamorin/  or via email at [email protected] Find Ryan Robinson on LinkedIn: https://www.linkedin.com/in/ryancolerobinson/ or via email [email protected] Technologies: https://www.mstech.com/Connect with Krystal Martin on LinkedIn: https://www.linkedin.com/in/krystal-martin-14296143/ or via email at [email protected] I Be Using A.I. Right Now?, The Ezra Klein Show https://www.nytimes.com/2024/04/02/opinion/ezra-klein-podcast-ethan-mollick.htmlCISA New Best Practices Guide for Securing AI Data Released https://www.cisa.gov/news-events/alerts/2025/05/22/new-best-practices-guide-securing-ai-data-released  

In 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 innovative in a rapidly changing market. You can connect with Bryan on LinkedIn or via email at [email protected]. Pat can be reached at [email protected]. 

On 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.

In 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. 

In 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 be prepared for legislative updates.

In 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. 

Tune 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 this episode of Issues of Interest to discuss the next phase of CECL for your organization. As all eyes turn to a falling rate environment (and the next potential economic downturn), we encourage you to not lose focus on the reliability of your CECL model. Now that implementation is in the rearview mirror, CECL has the potential to fall off the radar. But can you be certain your model will still perform reliably as rates fall and credit impacts rise? To help ensure your CECL model continues to perform as intended, DCG developed a robust CECL monitoring product, which had been missing throughout the industry until now. DCG’s ongoing monitoring can offer the confirmation that a CECL model remains fit for use through economic environment changes. To view this new product, you are invited to watch this virtual walkthrough.

Many 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 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 developments directly in your inbox.

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 developments directly in your inbox.

In 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.

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. 

In 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. 

In 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. 

In 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.

In 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.  

In 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/

In this episode of Issues of Interest from Baker Newman Noyes, Mark Haberland, of Darling Consulting Group, joins Jordin Milano, assurance senior manager at Baker Newman Noyes, to discuss the current state of CECL model validations and some things to consider as institutions adopt and implement their models. You can see additional corresponding materials here:CECL is coming - Is your institution ready? by Joseph Jalbert: https://www.bnncpa.com/resources/cecl-is-coming-is-your-institution-ready/CECl Toolkit from Baker Newman Noyes: https://www.bnncpa.com/resources/current-expected-credit-loss-standard-toolkit/

In this episode of Issues of Interest from Baker Newman Noyes, Adam Aucoin and Leanne Scott from BNN's financial institutions industry practice discuss current trends in tax planning for banks and financial institutions. Adam also covers several credits impacting the tax landscape and Leanne summarizes a few multi-state considerations for banks operating across state lines. You can see additional corresponding materials here:Tax Planning for your Financial Institution by Adam Aucoin: https://www.bnncpa.com/resources/tax-planning-for-your-financial-institution-in-the-current-environment/Remote Workers & Multi-State Tax: 9 Key Considerations by Leanne Scott: https://www.bnncpa.com/resources/remote-workers-multi-state-tax-9-key-considerations/