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Aug 7, 2019

Why NAIC is paying attention to CECL -- and so should insurers

Insurance companies may be unprepared for CECL, which is currently more top-of-mind for their banking counterparts (partly because banking regulatory reporting follows GAAP).

Nov 19, 2018

Do virtual economists get virtual model validators?

In the novel on which the classic film Bladerunner is based, the prolific science fiction author Philip K. Dick asks whether androids dream of electric sheep. Perhaps in a science fiction universe, virtual economists could have their work validated by virtual model validators, have model risk managed by virtual CROs and have governance managed by a virtual board.  But here in this universe, under the current regulatory and legal framework, real live model validators must be used to validate models, real live CROs must be used to manage model risk, and real live boards must be used to provide governance.

Aug 2, 2018

CECL: one less place for weak data to hide

The demands on loan data were already escalating, and then along came CECL. It’s not surprising that in our most recent survey about CECL challenges, 34% of respondents said that data was their number one gap.

May 3, 2018

Learn from the Industry’s Best: Getting CECL Right

SS&C Primatics EVOLV Live: Getting CECL Right is only a week away. The event features an impressive lineup of industry thought leaders who will share their experiences and strategies for success with CECL.

Apr 5, 2018

Introducing EVOLV Live 2018: Getting CECL Right

This May, the SS&C Primatics team is hosting EVOLV Live: Getting CECL Right to discuss strategies for attaining CECL success.

Jan 12, 2018

The foundation of a successful CECL reserving process

Is it better to take a model or analytical approach to the current expected credit loss (CECL) standard? There are advantages and disadvantages to both approaches; some banks may find their sweet spot lies somewhere between the two. Find out the elements of a successful CECL reserving process and how you can prepare.

Dec 21, 2017

Move over Excel, Finance is evolving

Microsoft Excel is ubiquitous in the world of accounting, mostly because it filled a gap in the available software solutions years ago. It became the defacto loan accounting system in the absence of alternatives. However, new regulations and technology are changing the world of accounting and Excel is no longer an optimal solution to meet the changing needs of our industry.

Oct 16, 2017

Highlights from the 2017 Financial Institutions Conference

During the 2017 Financial Institutions Conference, Lauren Smith, director of Accounting Policy and Research at SS&C Primatics, participated in the CECL Implementation Strategies Panel. During the session, panelists discussed their experience working with banks as they transition to the CECL reserving standard, which takes effect in 2020 for SEC filers and 2021 for all others. After working with and speaking to hundreds of banks across the U.S. about CECL, SS&C Primatics ...