CECL adoption is in the rearview mirror for many SEC filers, but for others, it is still on the road ahead. As other financial institutions prepare to comply with CECL in 2023, there is much to be learned from those who have already adopted it. Likewise, those who adopted in 2020 still have plenty to learn from each other as they think about the path ahead and solidifying their CECL approach. CECL is not a prescriptive standard, and we are fielding many questions from institutions that are now navigating key decisions such as:
How we can consistently incorporate a reasonable and supportable forecast.
What makes for an effective CECL model and methodology.
How we think about parallel runs and gain comfort over results.
What we need to know about management judgment and qualitative adjustments.
How we approach disclosures.
What the best steps are to preparing for the audit and engage with auditors.
If you’d like to learn from industry experts who have successfully implemented CECL, join us for a live panel discussion with bank executives to hear more about lessons learned and nuances required for a smooth transition.
Steve Murray—Controller, Vive Financial
James M. Nigro—EVP & Chief Risk Officer, Lakeland Bank
Brandi Parker—SVP Director, Corporate Finance, Heritage Bank
Chris Loftus—Vice President, Product, SS&C Primatics
Moderated by Theresa Meawad, Director, Solutions Consulting, SS&C Primatics.
Register todayfor this important webinar,Lessons Learned from 2020 CECL Filers: A Panel on How to Generate Consistent, Repeatable Estimates Considering Reasonable and Supportable Forecasts, which will take place Thursday, February 25 at 2 p.m. Eastern.