Expert Views on New Jersey Politics Presented at May Meeting
Compliance Management Solutions Offered at Mini-Session
Michael Affuso, Senior Vice President and Director of Government Relations for the New Jersey Bankers Association was the keynote speaker at the Chapter’s May Dinner Meeting. Michael shared his expert views on the “state” of New Jersey politics, the expected outcome of the fall elections, pending legislation, as well as several key developments affecting the banking industry and the consumer. The afternoon mini-session featured a series of compliance “solutions” presented by the Karen I. Martino Group LLC. Chapter Members and guests were able to exchange ideas during the cocktail hour following the mini-session before enjoying a sumptuous full-course dinner. The meeting was held on May 22, 2013 at the Stony Hill Inn in Hackensack.

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Michael Affuso presentation
Featured dinner speaker Michael Affuso, Director of Governmental Affairs, New Jersey Bankers Association, presented expert views on New Jersey politics.

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Michael Affuso presentation
The slate of Chapter Officers to be installed at the annual Installation Dinner Dance on Friday, May 31 were introduced by current Chapter President Jim Montagne (not pictured). Standing (l.-r.) Andriette Mathews, Brian McCourt, Maureen Kalena and Tal Scheer.

Michael Affuso shared his expectation that incumbent New Jersey Governor Chris Christie will win reelection by a wide margin in November. Michael predicted that Christie’s opponent, Barbara Buono, will have difficulty exceeding more than 40% of the popular vote.

Michael touched on the key legislative issues affecting the banking industry. He emphasized the difficulty the state legislature currently faces to expedite legislation to ease the impact of the typical 900 day foreclosure process. He explained how the extended foreclosure process reduces affordable housing opportunities for prospective homeowners. He emphasized the importance for bankers to identify non-performing loans as quickly as possible, examine the subject properties and take the steps necessary to expedite the foreclosure process to avoid unnecessary losses.

He also discussed the impact of Hurricane Sandy on the shore economy. He noted how businesses and homeowners are struggling to return to normalcy. Michael emphasized that New Jersey is showing leadership by “taking the bull by the horns” to get the enormous job of recovery completed.

Karen Martino and Mary Marley, Partners in the Karen I. Martino Group, LLC offered compliance solutions during the afternoon mini- session. Karen and Mary are the founding partners in the firm and specialize in performing compliance management consulting services to community banks in the metropolitan area.

Mary Marley emphasized the importance of implementing an effective Compliance Management System (“CMS”) to include board and management oversight, a consumer complaint process and independent review. She noted that a CMS includes information, documentation and communication. She explained that the Board has ultimate responsibility for implementing the plan, with management oversight, while the Compliance Committee establishes systems, processes and disclosures. Mary provided specific examples of plan components as well as the factors that management should consider when implementing a CMS for a typical institution.

Topics and Speakers

State of New Jersey Politics

Michael Affuso Photo
Michael P. Affuso, Esq.
Senior Vice President
Director of Gov't. Relations
New Jersey Bankers Association

908-272-8500 Ext. 628

Your Compliance Management System

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Mary Marley
Karen I. Martino Group, LLC


Slide Presentation

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John Siracusa FMS presentation photo
Karen Martino (l.) and Mary Marley from the Karen I. Martino Group LLC  presented a compliance solutions mini-session prior to the dinner meeting.

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FMS May 2012 Speakers
Attendees hard at work "earning" CPE credits during the compliance mini-session.