CECL in the News: What’s New & How It Might Affect Your Institution’s CECL Implementation
Presenters: Rob Ashbaugh and Chris Emery
Keeping up with key developments related to the current expected credit loss (CECL) accounting standard can be difficult and time-consuming.
With less than a year until public business entities must begin complying with CECL, banks and credit unions have been fervently beginning transition efforts, and their preparations are taking center stage in regulatory and financial news. Important CECL news updates and potential changes to how institutions implement the accounting standard have come from the Financial Accounting Standards Board (FASB) and their Transition Resource Group, bank and securities regulators, and proposals by industry associations. Focus areas have included accrued interest, recoveries/prepayments, a three-year capital phase-in rule, separation of a leases standard, CECL extensions, forecasting, disclosures and more.
On Tuesday, Feb. 19 from 2-3 p.m. ET, join Abrigo consultants Rob Ashbaugh and Chris Emery as they discuss the important CECL topics in the news and share best practices for any implementation changes that attendees can take back to their financial institutions in light of recent developments.
Download to learn:
- Recaps of recent CECL conversations, with an analysis of which issues warrant the most attention
- Key takeaways and action items on some critical CECL discussion points
- New developments the consultants foresee on the horizon, including upcoming events worth monitoring
About the Presenters
Rob Ashbaugh is an executive risk management consultant at Sageworks and is responsible for assisting financial institutions with their risk management needs. Rob has more than twenty years of capital markets and commercial banking experience as both a portfolio manager and risk manager, with a primary focus on mortgage-backed securities, whole loan portfolios and commercial lending. Among his responsibilities were monthly ALLL calculations, institutional and concentration stress testing and risk analytics. He is a past holder of the Series 7, 52 and 63 licenses and has received formal credit training. Rob received his bachelor’s degree in both economics and international business from Temple University.
Chris Emery has helped hundreds of financial institutions of varying asset sizes and employing all major core systems implement allowance technology that supports their efforts to comply with regulatory and accounting standards, including in their current transition to estimating the allowance under CECL. In addition to his client engagements, Chris advises the technology group at MST which is charged with developing, implementing and supporting software solutions that assist financial institutions with calculating the Allowance for Loan and Lease Losses (ALLL) and now making preparations for CECL.