Financial institutions have to complete numerous steps and tasks when calculating their allowance for loan and lease losses (ALLL). This can often be time-consuming, especially when multiple individuals are involved in calculating the allowance. With ALLL Workflow, this cumbersome process is streamlined for a more efficient calculation. A user can easily create and navigate a customizable workflow to document and guide their process in a way that makes the most sense for their financial institution. ALLL Workflow helps to create an efficient incurred loss or CECL calculation.
Automated email alerts with reminders of what needs to be completed next
Documentation of the tasks assigned to each individual involved and a place for timestamped notes
Customizable dashboards that show the completed, in progress and future actions needed
In-product links to easily navigate the Sageworks platform and any necessary third party websites.
Responsive workflow tab that can be opened at any point to help guide the calculation
Ability to create a workflow for portfolio level items, such as stress tests