CECL and Beyond: Conference Closes with a Look Ahead
The final day of the MST 2017 National ALLL Conference will take us beyond technical issues to broad considerations of the extended impact of CECL and the environment in which we operate today. Attendees will enjoy dynamic discussions of issues related to risk and reward in the CECL environment and what to look for and expect for our institutions in the years ahead.
Here’s a rundown on what’s waiting for you on Conference Day #3, Thursday, May 25:
Preparation and implementation of a CECL-compliant methodology will be time-consuming and expensive, and will be enterprise-wide. That kind of investment should net more than a methodology. It should also be used to drive other decisions and processes. During this session you will learn how to capitalize on your investment in CECL for institution-wide improvements.
Chad Kellar is a partner in Crowe Horwath’s Advisory Services business unit focusing on transaction advisory, valuation, accounting consultation, and model validation services. Chad is one of the firm’s subject matter experts on the valuation and accounting for financial instruments and is in charge of Crowe’s CECL Implementation Services.
Ben Hoffman is a managing director with KPMG’s Credit Risk Group and leads the firm’s ALLL specialist group in support of KPMG’s external audit clients, and is a co-chair of KPMG’s CECL steering committee.
Vince Milano is a Quality Control Director in the Postlethwaite & Netterville Accounting and Assurance Services Group with extensive experience in generally accepted accounting principles, SEC reporting and PCAOB standards, risk assessments, audits of internal controls, generally accepted auditing standards and litigation support.
The Expanding Role of Disclosures
CECL will require additional disclosures in respect to your allowance models, methodologies and assumptions. Presenters for this session will offer specifics. Rahul Gupta authored much of this content during his time with FASB and Dorsey Baskin will deliver explicit examples of the disclosures and what they mean to CECL practitioners.
Dorsey Baskin is recently retired from the National Professional Standards Group of Grant Thornton LLP and serving as a consultant with MST Advisory. His roles at Grant Thornton included national leadership of the firm’s innovation function, technical accounting and audit advisor for the banking industry audit and consulting practice, and national professional practice director.
Rahul Gupta is a Partner in the National Professional Standards Group (NPSG) of Grant Thornton LLP. He assists engagement teams and clients with technical accounting issues and monitors current accounting developments, under both U.S. GAAP and IFRS. Rahul is also involved in developing firm’s thought leadership on accounting issues, including liaising with Financial Accounting Standards Board (FASB), International Accounting Standards Board (IASB), AICPA and Securities and Exchange Commission (SEC). He was a staff member at FASB from 2011 through 2015, first as a practice fellow and then as a senior project manager.
Measuring the Impact of the Divided States of America
Our nation is increasingly politically split, opposed to consensus. Does this translate to additional risk for lenders and borrowers? Our three presenters for this session are uniquely positioned to comment on this question, and will share insights on our divided states, what should concern us and why.
Tom Cunningham joined the Federal Reserve Bank of Atlanta as an economist with the macropolicy group in 1985. He was promoted to senior economist in 1989, and to research officer and senior economist with responsibility for the regional group in 1992. He retired from the Fed in 2015 and currently works with MST Advisory as a consultant.
Michael Gullette is vice president of accounting and financial management for the American Bankers Association (ABA). He has been the voice of the ABA, and therefore the industry, to FASB throughout the development of CECL.
Bart Smith is managing director of Performance Trust Capital Partners. With 25 years of experience with the Federal Deposit Insurance Corporation (FDIC), he is an expert resource in bank policy and regulatory matters.
What Are We Waiting For?
The one-year anniversary of ASU 2016-13 is within sight. While we have learned much about expected credit loss, there remain large gaps in understanding how to estimate the allowance under the new standard. This session will address some of the unknowns and provide insight on what and when we might learn about them.
Graham Dyer, a Grant Thornton Partner, is a member of FASB’s CECL Transition Resource Group and the IASB’s IFRS 9 Impairment Transition Group (ITG).
Rahul Gupta returns to the presentation platform for his second session of the day to share insights as a FASB member and project manager throughout the development of CECL.
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For more details on the MST 2017 National ALLL Conference, including sessions and speaker bios, click here.