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Nov 11, 2022

SS&C Roundtable: Getting Comfortable with Your CECL Results!

As CECL adoption ramps up and nears completion, many banks—both 2020 and 2023 filers—are looking to validate CECL estimates. And there is no question that this has become a much more cumbersome process with banks facing an unfamiliar economic environment, changing portfolios, and hidden credit losses masked by modifications and government intervention. 

Sep 9, 2022

Model Validations: What You Need to Know to Get CECL Right

As CECL adoption ramps up and nears completion, many banks—both 2020 and 2023 filers—are looking to validate CECL estimates, ensure that models remain predictive, and address auditor concerns. And the volatility of the macroeconomic environment doesn’t help, changing a bank’s portfolio mix and adding additional stress on CECL models.

Aug 25, 2022

SS&C Deliver Conference – How Banks Stay Ahead of Change

It goes without saying that the banking space looks much different now than it did a few of years ago. As the industry continues to endure impacts from the COVID-19 pandemic and record high inflation, it has been increasingly more difficult for financial institutions to navigate through market changes and prepare for future industry impacts. Whether you’re a 2023 filer preparing for CECL compliance, looking to leverage CECL insights for other business purposes or preparing for ESG requirements that are surely coming down the pipe, new trends continue to evolve and influence the banking industry. How are you expected to keep up with all of this change, and where do you turn to learn about mitigating future impacts to your institution?  

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.

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