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Sep 16, 2021

Stay ahead of industry changes with SS&C EVOLV

The only constant is change, and those that are prepared for it are the ones that will be successful. In finance, that change may take the form of regulatory, accounting, technology or security requirements. As part of our ongoing effort to help our clients evolve to meet these inevitable changes, our product strategy has been centered around investing in the enhancements that will ensure our clients stay a step ahead.

Aug 13, 2021

What makes a good allowance estimate under CECL – Banks

With 2023 fast approaching and only six quarters remaining until the much-awaited CECL adoption date, smaller SEC filers and non-public banks are finding the standard’s conceptual nature a scary prospect. And given the unprecedented conditions banks are facing, it is crucial to define an allowance process that stands up to scrutiny and allows management to gain comfort over the allowance estimate. 

Aug 5, 2021

Qualitative adjustments under CECL – what are they?

As 2023 filers look towards CECL adoption, two questions that continue to come up are

  • “What type of qualitative adjustments will be required?”
  • “What type of support will be needed to justify these adjustments?” 

Generally, these questions arise from filers’ previous experience with ASC 450 where many banks and other financial institutions relied heavily on qualitative adjustments as a key component of their reserve numbers. Filers must also consider the added complexity of CECL and the greater audit and regulatory scrutiny that qualitative adjustments have historically received. In this blog we will explore these two questions.  

Feb 12, 2021

How to get CECL-ready with lessons learned from 2020 filers

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.

Oct 26, 2020

Navigating CECL in the COVID-19 world: lessons and challenges

The American Institute of Certified Public Accountants (AICPA) held its National Conference on Banks & Savings Institutions virtually, on Sept. 14-16, 2020. SS&C Primatics was once again honored to be a Silver Sponsor and to have participated in the speaker series as subject matter experts on CECL. Respected industry thought leaders discussed the key areas of focus at this year’s conference, the current expected credit loss (CECL) model under ASC 326, Financial Instruments - Credit Losses, and the impact of the pandemic.

Nov 12, 2019

CECL: Considerations as adoption approaches

Many financial institutions are well on their way in their transition to a CECL allowance estimate. They are reviewing and refining results, operationalizing their process preparing documentation and engaging with auditors.  With the adoption date less than two months away, here are some additional key considerations to finalize.

Oct 30, 2019

SS&C Primatics leads CECL discussion at AICPA

The American Institute of Certified Public Accountants (AICPA) held its National Conference on Banks & Savings Institutions in National Harbor, Md. last month. Once again, SS&C Primatics had the honor of being a gold sponsor and participating in the speaker series on the Current Expected Credit Loss (CECL) model under ASC 326, Financial Instruments - Credit Losses as subject matter experts.

Aug 30, 2019

Discover CECL lessons learned at AICPA conference

The long road to CECL adoption is nearing an end for many SEC filers. A majority of 2020 filers have already implemented CECL and many lessons have been learned.  SS&C Primatics will take you through the knowledge that’s been gained from CECL implementations and preview the road ahead at this September’s AICPA National Conference on Banks & Savings Institutions.

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