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.