Data has posed the most common CECL implementation problems for financial institutions adopting the accounting standard. The good news for 2023 CECL adopters is that no set amount of “data,” in a technical sense, is required to produce a meaningful projection of future losses. Certain amounts of data are required for certain CECL methodologies, and a certain amount of data, in an information sense, is required to estimate likely defaults or losses in different economic environments. This information is plentiful and publicly available, and its use has been uncontroversial for institutions that demonstrate a need to rely on it. In this session, you will learn how to decide what data and other information to incorporate in your CECL estimate.
This live session is eligible for one NASBA CPE credit.
Justin has spent the last 4 years working with financial institutions of all sizes to transition to CECL. He specializes in helping banks and credit unions find the quickest, simplest path to compliance using the Abrigo ALLL software and the Advisory team's proven formula for successful transition.
Managing Director, Advisory Services at Abrigo
Garver brings a decade of enterprise software, analytic, and advisory experience to Abrigo’s advisory team. Prior to joining Abrigo, Garver was a Technical Consultant with Accenture, and he later worked with C-suite executives on technology strategy and delivery as a Managing Partner of the Orange Advisory Group.
CECL Streamlined is a webinar series developed and led by consultants who have helped hundreds of institutions to successfully implement CECL. The four-part series covers major steps and milestones in chronological order to ensure 2023 filers stay on track and feel confident in their CECL transition.
Review best practices for identifying potential peer institutions for your estimation.
Learn techniques to calibrate the historical loss basis to anticipated economic conditions.
Get into the "nuts and bolts" of using two methodologies and sensitivity test decisions.
Abrigo's ALLL and CECL software is endorsed by the American Bankers Association and trusted by more than 1,000 financial institutions. Get support beyond a username and password with Abrigo's award-winning service and advisory team of CECL experts. Our in-house consulting group provides a range of services from CECL transition plans to outsourced calculations.
The live webinar session is eligible for one NASBA CPE credit.
Who should attend?
Anyone with responsibilities related to the allowance or transition to CECL.
Advanced Preparation: N/A
Prerequisites: Intermediate background in allowance, accounting, or regulatory compliance
Program Level: Intermediate
Delivery Method: Group Internet
Abrigo is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.
