Austin, Texas, July 26, 2021 – Abrigo, the leading technology provider of compliance, credit risk, and lending solutions for community financial institutions, is offering a free current expected credit loss (CECL) session, CECL Kickstart, to help 2023 adopters dive into their implementation. The virtual event will take place on August 17, 2021, from 1-4:30 p.m. ET.
The interactive, online session aims to help community financial institutions jump-start their 2023 adoption of the Financial Accounting Standards Board’s (FASB) CECL standard. After helping hundreds of larger, SEC-filing financial institutions with their 2020 CECL implementation, Abrigo consultants will explain implementation best practices scaled specifically to meet the needs of smaller preparers. Consultants will address concerns related to coronavirus impacts, including navigating economic forecasts and qualitative adjustments, to help financial institutions move forward with their initial transition plans.
The 3.5-hour session will cover a variety of topics regarding CECL implementation including:
- Techniques used by public institutions to address pandemic-era uncertainty
- How to address the most common CECL implementation problems, such as lack of historical loss experience or unreliable historical data
- How to use models that are less reliant on historical, loan-level loss experience
- How to implement a straightforward qualitative framework