Topic:  Corporate Fraud -- what it is, what are its warning signs, how to prevent it.

Speaker: Ms. Kimberly Nichols Feder, Treasury Management Leader with Banner Bank for the State of California

Presentation:  

$1 Trillion and counting.  

That is a current estimate of the annual worldwide cost of financial fraud.  It's a huge number.  And it may be an underestimate.

Corporate fraud, one way or another, affects every financial executive in America and worldwide.

In this session we will be talking about fraud types and trends, as well as prevention and remediation.  Fraud has escalated in the business world domestically and internationally over the past decade. Today, it is now less a matter of IF we will experience fraud attempts against each of us personally or our organizations professionally, and more a matter of WHEN, HOW and HOW OFTEN.  

Kimberly will show us the current trends that financial executives face and need to protect their organizations against.  These include such things as check fraud, ACH, fraudulent wire transfer activities, compromised email, embezzlement, the growing sophistication of ransomware. 

All of these trends add up to a pretty lucrative business worldwide, and we should never fall into the danger of thinking that it is not being run as exactly that: a profitable business, with frequent improvements in technology, its own financial analysts and marketing experts, and its own strategists continually on the lookout for competitive and operational weaknesses in its target companies.  

Kim will discuss preventive measures and safeguards, to help mitigate occurrences of fraud, throughout her presentation and discussion. 

From this presentation, you can expect to take away a lot of knowledge about fraud and fraud prevention, including:

- What behavioral changes could be a sign of pending or ongoing embezzlement?

- Does payment fraud affect a significant portion of companies, or is it confined to a relatively small minority of companies who are not being careful?

- What process changes can help prevent or reduce fraud -- and which ones make no difference?

-  What are the hidden costs of fraud -- i.e., the parts of the iceberg below the surface -- beyond the obvious and most visible cost of the fraud itself?

- What is Business Email Compromise, and is it a significant problem?

-  Can moving your business from receiving check payments to ACH and wire reduce the incidence of fraud?

- What staff education steps are absolutely necessary to reduce fraud?

Corporate fraud is growing -- but it is combatable.  Get ready to be informed and and engaged during this one-hour presentation by Kim Feder at this session tomorrow.  Bring your own fraud war stories, and prepare for a highly interactive session.

Speaker's bio:
Kim Feder, Senior Vice President at Banner Bank is, a financial services executive with expertise in Treasury Management.  Kim has a successful track record in both leading internal teams and in helping the bank's clients improve their treasury management and other aspects of their operational effectiveness. Kim has a strong sense of responsibility and is driven to make a difference for her clients.  She thrives on helping others to accomplish their objectives and goals.

Prior to Banner Bank, Kim served as Managing Director and Senior VP at Union Bank, and Senior VP and California Division Manager for Treasury Management Sales at Wells Fargo Bank.

Kim is involved in her professional community as Co-President of the Southern California Association for Financial Professionals.  She is a Board member of City Scholars Foundation dedicated to educating and empowering nonprofit CEO’s to help low-income youth stay in school, out of trouble and on track to a brighter future.   And Kim is Board Chair of the Mixed Roots Foundation supporting foster and adopted youth and their families.  Kim is also involved in working to expand the Monarch butterfly population in California.  

Kim is married with two young adult children and has two rescue dogs.  She is a native Northern Californian and a graduate of the University of California at Davis with a BA in English. 

As always, the meeting is free to FENG members and their guests. We're always glad to welcome our friends from PwC, other FENG chapters around the country, the SIG members noted above, and any guest you as a member may wish to invite. There will be 1.0 hour CPE credit given to all participants requesting it and who are present for the presentation.

To Attend:
Meetings are for members, prospective members and invited guests only. For non-members, RSVP is required by writing to chapter chair, Dan Ruchman at [email protected]. Please include a one or two sentence description of who you are, and your interest in attending the meeting. Thank you.

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CPE Credits: Reminder for those members maintaining their professional certifications - we offer the documentation for Continuing Professional Education (CPE) credits for our speaker presentations. For those members interested in this, you may complete the appropriate forms, which we'll have available at the meeting, for 1.0 hours of CPE credit

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