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How a Financial Institution is Getting CECL Ready: Key Decisions and Steps in the CECL Transition

Financial institutions across the U.S. are grappling with the many changes required to implement the current expected credit loss, or CECL, model. The extensive time, resources, and staff involved in successfully transitioning from the incurred loss model means that even getting started can be daunting. Data, methodology, and pooling decisions may seem overwhelming if not properly prepared.

However, having an effective plan can make it easier to implement a compliant CECL model in an efficient manner. Financial institutions can build out their models faster if they learn about the key decisions their peers have made ahead of the transition to help create that framework.

In this webinar, hear from a VP/Controller, VP/Director of Credit Risk, and Senior Credit Risk Analyst at Great Southern Bank, and from the Bank’s Advisory team at Abrigo on their experiences with CECL so far, the decisions they have or are planning to make, and their expectations for the future. Great Southern Bank operates out of Springfield, Mo., and has total assets of approximately $4 billion.

Join to learn:

  • Challenges that Great Southern Bank has experienced so far in the CECL transition and how staff  are overcoming them
  • Key decisions being made on segmentation, methodologies, qualitative and forecast factors, implementation and testing, reporting, and more
  • Expectations and predictions for how CECL will impact their institution on day one
  • Advice from Abrigo consultants for similar institutions who are approaching the CECL transition

Meet Your Presenter

Paula S. King, CPA

Paula has held executive positions, including as Chief Financial Officer, in the banking industry for more than 25 years. As a former CFO, Paula has extensive experience in the design, preparation and reporting of the allowance for loan and lease losses, including ensuring compliance with regulatory and audit requirements, and creating allowance policies, procedures and processes. In addition, she has worked with loan operations and lending staffs and utilized the capabilities of a variety of core systems to ensure appropriate loan coding for optimal loan portfolio segmentation. Paula has been responsible for SEC and financial reporting, capital raising efforts and strategic planning, and has served as a Chief Risk and Compliance Officer. She has been responsible for overseeing daily operations for several banks and frequently served on internal credit committees. She co-founded a bank and served on its board of directors through its merger with another financial institution and has been a de novo bank consultant to boards and senior management teams.

Full Bio