CECL Hidden Complexities for Credit Unions
Presenter: Jared Mills
In this 45 minute webinar, Jared Mills of the Sageworks Advisory Group will discuss the hidden complexities when simple, expedient approaches for measurement under the CECL accounting standard are applied to credit union loan portfolios. Having worked at a credit union before as an Assistant Director of Accounting, he will discuss the impact, control and structural complexities that he knows are relevant to the industry.
Join to learn about:
- How to make methodological and segmentation choices without investing any time in loan-level data gathering, software, or model development
- The complex data problems associated with the application of specific loss rate approaches
- The FASB-approved way to estimate and justify allocation, even with data concerns, without resorting heavily to qualitative adjustment
Jared Mills, CPA
Tapping into his banking background as the former Assistant Director of Accounting at South Carolina State FCU and a former Financial Analyst at First Citizens Bank, Jared Mills works alongside the Abrigo Advisory team to provide strategic direction for the product development of our ALLL, CECL preparation, and portfolio analytics solutions. He draws on feedback from banks and credit unions across the country and also provides clients with portfolio risk guidance on building a consistent and defensible ALLL methodology and navigating the CECL transition. Jared has a bachelor’s degree in business administration with an emphasis in accounting from Charleston Southern University and a master’s degree in accountancy from the College of Charleston.