Best practices for running and validating a CECL model
In the past, implementing a change like CECL would be a matter of mapping the right data and “turning on a switch.” This is no longer the case. The CECL timeline and transition process spans over several years and involves numerous functional departments at both banks and credit unions.
Due to the new regulatory focus on having a defensible model risk management practice, new documentation requirements will need to be followed. Decisions will need to be supported mostly by quantitative reasons.
If all this sounds overwhelming, it does not have to be. This joint webinar between Abrigo and Smarter Risk Management will go over how to do this efficiently and effectively so that institutions are prepared to understand CECL, run a model and have it successfully validated. We will cover a supportable CECL outline as laid out by the regulators.
- Governance/project management
- Pre-implementation impact
- Data management and loss measurement
- Investment securities
- Third parties