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CECL Kickstart

February 8, 2022 | 1:00 - 4:30 p.m. ET

Don't miss this "last chance" to jump-start your 2023 adoption of the Financial Accounting Standard Board's CECL standard. Join Abrigo's consulting team for a free, virtual workshop specifically designed to help financial institutions kickstart their adoption of the FASB’s CECL standard.

With an emphasis on the needs of community banks and credit unions, our consultants will show how the implementation practices we used successfully for hundreds of larger, SEC-filing financial institutions during their 2020 CECL implementation, as well as for hundreds more projects with less complex entities on the later adoption deadline, can be scaled specifically to meet the needs of smaller preparers. Attendees will leave with a straightforward view of what's ahead as they tackle CECL implementation, as well as tips for getting started and best practices. Consultants will address concerns related to coronavirus impacts, including navigating economic forecasts and qualitative adjustments, to help financial institutions make – and quickly execute – a transition plan.

We will cover:

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 CECL models that are less reliant on historical, loan-level loss experience
How to implement a straightforward CECL qualitative framework
How to credibly identify peer institutions for use of external information
Potential hidden traps in the SCALE concept

While we will use some of our CECL software tools to illustrate the thought process and best practices for implementation, the sessions are applicable to institutions regardless of whether they are currently an Abrigo allowance product user.

This event will offer three free NASBA CPE credits. Virtual networking opportunities will also be available between the sessions.

Learn scalable CECL implementation practices and best practices used by our consultants for hundreds of financial institutions

Agenda

1:00 - 1:50 p.m. ET- Myths, Facts, and Getting Started
1:50 - 2:05 p.m. ET- Networking Break
2:05 - 2:55 p.m. ET- Exercise: Simple Calculations
2:55 - 3:10 p.m. ET- Networking Break
3:10 - 4:15 p.m. ET- Exercise: Sophistication and Insight
4:15 - 4:30 p.m. ET- Wrap Up

Agenda is subject to change.

Kickstart your CECL plan with these sessions!

Myths, Facts, and Getting Started

In this session, we will address common CECL implementation risks and myths before using our intuition or, failing that, some reasonable benchmarks to arrive at our first CECL calculation. We will see why we may not be able to rely on our input data or a reference pool of loans reflecting real loan data from a representative institution, but how we can still get to a credible result using certain CECL models that are less reliant on historical, loan-level loss experience.

Exercise: Simple Calculations

We will layer forecast adjustments and refine our benchmarking to be more relevant to our particular case study and more appropriate for financial statement use. Once we know a reasonable set of results for our quantitative model under certain economic circumstances, we will see if we can establish a simpler methodology to get us to a similar result. If we succeed, then we will have reduced ongoing complexity; if we fail, then we know the simpler model won’t work for our use case.

Exercise: Sophistication and Insight

Here we will address the potential qualitative layers that we can use given our quantitative work on the case study; after all, the goal of the quantitative exercise is to account for what we can actually quantify. But just because we can’t quantify a factor doesn’t mean that it has no impact on our credit loss allowance. We’ll discuss a potential framework for these adjustments and compare practices of Abrigo's public clients under CECL with those in place prior to adoption. We will also discuss other areas of the measurement – unfunded commitments, reserve for investments, and individually analyzed loans.

Learn from consultants who have implemented CECL hundreds of times.

Continuing Education Credits

This course offers 3 CPE credits.

Who Should Attend?

Anyone with responsibilities related to the allowance or transition to CECL.

Chief Financial Officer
Controller
Chief Credit Officer
Chief Compliance Officer
Accounting, finance, credit departments and C-suite of banks and credit unions

Advanced Preparation: N/A

Prerequisites: Intermediate background in allowance, accounting, or regulatory compliance

Program Level: Intermediate

Delivery Method: Virtual Online

Abrigo is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

Registration Deadline: Registration closes February 4, 2022.

CECL Kickstart

Haven't adopted CECL yet? Kickstart your implementation with this FREE special event

February 8, 2022 | 1:00 - 4:30 p.m. ET

Learn scalable CECL implementation practices and best practices used by our consultants for hundreds of financial institutions

Agenda