Business / Industry Track
2020 has been a year with unique challenges that were beyond anyone’s prediction. Government intervention, regulatory mandates, and sociopolitical shifts are bringing new opportunities and challenges. Jennifer’s years of bipartisan experience on and off the Hill will provide us with a balanced perspective on what the results of this election cycle could mean as we look forward.
The chaos of Covid-19 hit businesses, individuals and communities hard. Organizations had to react quickly and up their games in agility, flexibility and creativity to solve problems, head off challenges and keep their employees engaged and productive and their businesses afloat. Join Jeremiah Wheeler from DRN along with panelists from the online auto auction and lending industries to discuss what they learned from managing the chaos brought on by a global pandemic … and how some of their learnings and new ways of working may outlast Covid-19 and become part of their models for the long haul.
Session Sponsor
AutoFinCon's opening session of Women in Auto Finance honoree panels features one of the nation’s leading experts in installment contracts, the CFO of a large dealership group and related finance company as well as one of the most well-connected leaders of the entire industry. They will be sharing some of the most important lessons they have learned during their distinguished careers.
INDUSTRY WORKSHOPS (pre-recorded sessions)
The panel will discuss the ever-changing environment of auto financing during a pandemic and the impact it has on fraud as consumers favor paperless and remote transactions, dealers migrating to an omni-channel presence and lenders dealing with the risk of increased credit/fraud losses due to slowing of the economy.
Join us as we reveal the results of Credit Chronometer’s survey of subprime auto market participants in all areas of the securitization market – originators, investors, trustees, servicers and others in the field – to gauge and compare current market sentiment versus prior studies done in 2019, pre-COVID 2020 and the beginning of the COVID era. Joseph Cioffi, Partner at the law firm of Davis & Gilbert and author of Credit Chronometer, will lead a discussion of the survey’s results with Ines Beato, Senior Vice President, US ABS Global – Structured Finance at DBRS Morningstar and Sean Morgan, Vice President of Finance at Westlake Financial Services.
The panel will analyze expectations and variances among participant groups regarding the three interdependent factors present in securitizations that have traditionally worked together to contribute to the market’s success: Credit Ratings, Credit Enhancements, and Credit Quality. We will discuss participants’ views regarding performance and particular risk factors, including:
COMPLIANCE WORKSHOPS (pre-recorded sessions)
Regulatory / Compliance
Join to hear this panel of key industry attorneys address legal topics impacting auto financing. The extensive coverage is divided into two sessions. In this session federal regulatory/legislative updates (post-election) are covered. Also, a discussion on what’s happening at the state level with Attorneys General and state regulators is provided
In June, the Department of Justice updated its watershed guidance on evaluating corporate compliance programs. The lessons to be learned from their updates can help you to update your program and protect your company from massive fines and penalties. Join expert Kristy Grant-Hart as we explore the top ten lessons to be learned from the DOJ’s update.
The knockout round. In this corner, we have disputes weighing in as FCRA/CDIA, current heavyweight champ-i-o-n, Credit Disputes! And in this corner, we have complaints weighing in as a company's definition, the contender, Respond Timely! Our panelist judges will score the match on the finer points of direct and indirect credit disputes and direct and indirect complaints.
Your employees have gone home and your data went with them. How to protect your business and your customers in the new remote work environment. How to prevent data breaches in a remote world.We will also take a look at how to keep your teams engaged and healthy at a time that they may begin to feel disconnected. Are your managers equipped to adequately oversee remote teams? Where do we go from here?
Hear an overview of the NAF Association's Annual Non-Prime Automotive Financing Survey. The NAF Association has collaborated with AFSA to produce this report in which companies in the industry provide data on their operations. This session will provide insights into the industry that are not available anywhere else. Don't miss the opportunity to hear about the latest in non-prime auto financing.
Jared Kalfus, Executive Vice President, Revenue, Black Book
Tanya Sanders, Head of Retail Underwriting and Fulfillment, Wells Fargo
AutoFinCon's sessions with this year’s Women in Auto Finance honorees continues with a finance manager who has been with one of the nation’s most successful dealer groups for more than 20 years, an expert in human resources as well as an executive who specializes in supporting finance companies when their most complex problems arise. They will be sharing wisdom to help younger executives forge a path of success.
This session will focus on the previous and potential future impact of the pandemic, vehicle sales, stimulus programs, the election, the forbearance programs, the hurricanes and fires, the killer hornets and whatever else can possibly happen.
In this session a panel of experts provides 3 different perspectives on the ever changing problem of fraud in auto lending in 2020. The session includes an in depth analysis of newly emerging patterns of fraud that lenders are reporting into the auto lending fraud consortium, an overview of the Fraud in Progress Program in Houston Texas that is bringing fraudsters to justice, and an comprehensive expose into synthetic identity detection from the lender front lines.
In these uncertain times, Auto lenders need to understand the impacts of the pandemic on the industry and get insight into the quickly changing environment to prepare for recovery and manage their business for the future. In this session, Craig Sims from Equifax will take a look at overall consumer trends in the auto industry and provide insight into strategies to help lenders manage their business for success as the industry emerges from recent uncertainty.
This session will cover:
This panel will explore two of the most significant developments in non-prime financing: AI and Alternative Payment Technology How can artificial intelligence be used in today’s auto financing business and what must be done to incorporate the technology? Learn how the relationships in "Big Data" can be used to assist and improve underwriting, collections, and customer service functions. The use of handwritten checks is on the decline, particularly with Millennials, iGen/Gen Z and even with Baby Boomers. What should be done to meet this trend? Learn how customer satisfaction can be enhanced through leveraging Push-to-Pay bill notification, Text, and Email to utilize solutions that customers want and finance companies can use to improve performance.
Regulatory/Compliance
Take a journey behind the doors of privacy and learn the best practices and pitfalls of implementing privacy rules. The world is seeing record-breaking numbers of data breaches. Numerous states have implemented or are in the process of implementing privacy rules to combat these breaches. Like the California Consumer Privacy Act went into effect on January 1, which is considered the most comprehensive privacy rule in the US.
Titling issues come up in every company, the panelists will discuss state requirements for title applications, lien releases, the differences between paper and electronic titles, insurance and repossession titles, how to identify a fraudulent title, and claims on liens. Panelists will provide best practices and practical solutions to titling issues
Join to hear this panel of key industry attorneys address the legal topics impacting auto financing. The extensive coverage is divided into two sessions. In this session hear about what are the federal and state compliance hot spots affecting auto financing. Learn where may we be headed now that the election is over and what finance companies should be doing now.
Amy Martin will discuss the impact COVID-19 has had on auto loan ABS collateral and ratings performance. The presentation will include the results of S&P Global Rating’s loan-level research on COVID-19-related extensions. She will also summarize key takeaways from S&P’s Auto Loan ABS Tracker reports including vintage analysis for several subprime securitizers compared to S&P’s Subprime Auto Loan Static Index (ALSI).
Our series of panel discussions with this year’s Women in Auto Finance honorees concludes with the top executive from a firm with a unique way of financing vehicles as well as a pair of leaders from companies that specialize in recoveries. They will be reflecting on their own careers and while looking toward what their futures might be.
RepoCon
Technology continues to help recovery management firms maintain compliance and improve efficiency for their clients. This panel also will offer updates on how the industry is moving toward standardization so each of the segment’s moving parts can function more effectively.
The coronavirus pandemic created a myriad of different challenges for collections departments this year, including additional efforts to maintain relationships with customers while obeying mandates from federal and state regulators. The ramifications likely will continue well into 2021, and this group of experts will examine what might be ahead for the industry.
Exhibit Hall Open for next hour.
Our conversation with leading recovery management firms continues, focused on the three components that impact their businesses and client work most. Each panelist will offer unique perspectives coming off of a turbulent 2020 with an eye toward more potential headwinds in 2021 and beyond.
Repossession and recovery segments have been impacted dramatically in 2020. In this session, we’ll hear from top officials and executives within the industry on how they’ve survived and how they are planning for new challenges and opportunities on the horizon.
Executive director Jan Stieger will lead a conversation with two board members of Receivables Management Association International, discussing the ongoing impact of COVID-19 on collections and other back-end activities. This panel also will look ahead to how the industry might navigate through varying mandates issued by local and state jurisdictions as well as the possibility of new orders from federal regulators.
Join this presentation for a look at how the new debt collection rules finalized by the CFPB effect the management and collection of your defaulted accounts? Under the new rules, are you now covered by the FDCPA? Whether you are or are not, the new rules effect the collection process of these accounts. Additionally, this program will discuss the new data and documentation standards for collections. The time to begin thinking about this is at originating – proper documentation is critical in maximizing the collectability and value of your accounts.
Exhibit Hall is open for the next hour.