Abrigo’s McPeak to Help Community Banks Tackle CECL Transition at ICBA LIVE
Austin, T.X, March 11, 2019 – Abrigo, the leading technology provider of compliance, credit risk, and lending solutions for community financial institutions, announced today that Executive Risk Management Consultant Tim McPeak is among the expert speakers slated for the Independent Community Bankers Association’s (ICBA) LIVE National Convention on March 21.
ICBA’s national convention is the largest community banking conference in the country. This year’s conference is expected to attract over 3,000 community bankers to Nashville, Tenn. The week-long conference features education sessions, networking events, and hundreds of exhibitors. ICBA LIVE will include seven different tracks – from lending and deposits, to revenue and growth – for attendees to choose from.
Abrigo’s McPeak will be presenting on the relationship between credit and finance departments, and how the two departments influence the transition to the current expected credit loss (CECL) standard. The new accounting standard, which some in the financial services industry have called the biggest accounting change in banking history, will go into effect on Dec. 15, 2019, for SEC-filing financial institutions. McPeak’s presentation will help financial institutions better understand the role that the respective departments play in the transition, and will also address the key differences, disconnects, and considerations for each department as it relates to CECL.
“The transition to the CECL accounting standard will have a significant impact on how financial institutions estimate their allowance for credit losses,” said McPeak. “While today this process is often siloed within a particular area of the institution, a successful transition to CECL will require cross-functional collaboration within the broader organization. This session will focus on how each functional area brings its own perspective to the process today and how they can prepare now for the future under CECL.”
McPeak’s presentation, “CECL – The Relationship Between Credit and Finance” will be held on Thursday, March 21 for the “Lending & Deposits” track. For more information on ICBA LIVE, click here.
About the Independent Community Bankers Association (ICBA)
The Independent Community Bankers of America, the nation’s voice for nearly 5,700 community banks of all sizes and charter types, is dedicated exclusively to representing the interests of the community banking industry and its membership through effective advocacy, best-in-class education and high-quality products and services. For more information, visit www.icba.org.
Abrigo is a leading technology provider of compliance, credit risk, and lending solutions that community financial institutions use to manage risk and drive growth. Our software automates key processes – from anti-money laundering to fraud detection to lending solutions – empowering our customers by addressing their Enterprise Risk Management needs. Visit www.abrigo.com to learn more. Follow Abrigo on social media using @WeAreAbrigo.
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