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Portfolio Risk & CECL Software Buyer’s Guide

Vendor due diligence guide for CECL solutions

The Financial Accounting Standards Board’s (FASB) ASU 326 provides the guidance by which the current expected credit losses (CECL) methodology for estimating allowances for credit losses will be applied. The allowance will be reported as a valuation account or the difference between the financial assets’ amortized cost basis and the net amount expected to be collected. If financial institutions are considering software to comply with the regulations, there are key capabilities potential solutions need, and this paper presents some of the questions institutions should use.

Questions span data, contractual life, segmentation options, methodologies, forecasting and adjustments, documentation, product evolution, and service.

In this whitepaper:

  • Overview of critical elements and capabilities
  • Understanding the functionality necessary for a CECL-ready solution
  • Recommendations and tactical due diligence

 

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