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CECL Kickstart

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August 17, 2021 | 1:00 - 4:30 p.m. ET

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

Join Abrigo's consulting team for a free, virtual workshop designed specifically to help financial institutions jump-start their adoption of the FASB’s CECL standard. Our consultants will show how the implementation practices we used successfully for hundreds of public entities can be scaled to the needs of private and smaller preparers. Attendees will leave with a straightforward view of what's ahead as they tackle CECL, as well as tips for getting started. During the session, attendees will:

  • Walk through a live CECL case study from start to finish, using real loan data
  • Apply the techniques used by public institutions to address pandemic-era uncertainty
  • Learn to address the most common CECL implementation problems, such as lack of historical loss experience, unreliable historical data, or a historical experience that is not reflective of likely future experience
  • Understand how to construct a simple, but still defensible and appropriate, allowance practice
  • Implement a straightforward qualitative framework

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

We regret we cannot provide lunch or after-event refreshments as with a live series, but we can at least offer three free CPE credits.  Virtual networking opportunities will also be available between and after the sessions.

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August 17, 2021 | 1:00 - 4:30 p.m. ET
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Learn scalable CECL implementation practices used by our consultants for hundreds of financial institutions

Kickstart your CECL plan with these sessions!

Session Descriptions

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 - 4:00 p.m. ET- Exercise: Sophistication and Insight
  • 4:00 - 4:30 p.m. ET- Small Group Discussion and Debriefing with Abrigo Consultants

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 on 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 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 not only more relevant to our particular case study but also 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 our 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.

Speakers

Garver Moore

Managing Director, Advisory Services

Jared Mills, CPA

Manager, Advisory Services

Allen Bach

Senior Consultant, Advisory Services
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.NASBARregistry.org.

Registration Deadline: Registration closes August 10, 2021.

CECL Kickstart 2021
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