CECL

Florence Distorts Job Numbers; Labor Market Remains Strong

Guest blog by Dr. Tom Cunningham, Economist and MST Advisory Services, Senior Advisor- Economics The headline numbers from the Bureau of Labor Statistics’ (BLS) September jobs report suggest a mixed employment situation. New jobs came in at just 134,000, well below the expected 180,000, while that headline unemployment rate, U3, fell 0.2 percentage points to 3.7 percent, slightly lower than the 3.8 percent expected. […]

2018-10-23T17:31:16+00:00October 9th, 2018|CECL, Economic Forecasting, Economic Indicators|

Time – and CECL – Wait for No One

Use our industry experience to build your institution a CECL “backward timeline.”  From the very announcement of the CECL implementation dates, we have been working with lenders – and spilling a lot of ink – on timelines. When do you need to get started on your CECL transition to have enough time to be ready for your implementation date?  […]

2018-10-24T10:12:41+00:00October 5th, 2018|CECL|

Overcoming Organizational Obstacles in Transitioning to CECL

Who owns the present Allowance for Loan and Lease Losses (ALLL) and the new Allowance for Credit Losses (ACL) processes in your financial institution? The Chief Financial Officer (CFO)? The Chief Credit Officer (CCO)? The Chief Lending Officer (CLO)? Perhaps it is a shared function. In my 40 years in banking, I have seen the responsibility fall to each of these roles.  […]

2018-10-23T23:29:42+00:00September 28th, 2018|CECL|

ABA Endorses MST for CECL Software Solution

From the ABA . . . ABA Endorses MST, Sageworks for CECL Software Solutions WASHINGTON — The American Bankers Association today announced its endorsement of two software solutions to help banks meet the upcoming deadline for Current Expected Credit Loss (CECL) implementation. Sageworks ALLL and MST Loan Loss Analyzer (LLA) are software solutions that provide modeling and data management for CECL accounting. […]

2018-10-31T09:35:58+00:00September 17th, 2018|CECL|

CECL Panel: Answers to Your Top CECL Questions

October 10, 2018 | 2:00 - 3:30 p.m. ET Presented by MST, Sageworks, Grant Thornton, BKD and PWC Lenders are knee-deep in their transition to CECL and encountering challenges at every turn. In "Answers to Your Top CECL Questions," our panel of auditors from Grant Thornton, BKD and PWC, and CECL consultants from MST and Sageworks will discuss CECL and its enterprise-wide impact and respond to your questions. The panel is comprised of Regan Camp, MST; Neekis Hammond, Sageworks; Gordon Dobner, BKD; John Reedy, Grant Thornton; and Mike Shearer, PWC. To Access the Recording, click here.

2018-10-30T16:12:17+00:00September 14th, 2018|CECL, CECL Education|

The Devil’s in the Data

Even as the new accounting standard for estimating the allowance was being announced in the summer of 2016, we knew the key issue – and the hardest part of transitioning to CECL – was going to be about data. We understood from the beginning that to comply with CECL we were going to need a lot of data, and that the data had to be of good, consistent quality. The concern remains paramount, in fact has grown. We see it everywhere: in webinars, white papers and conference presentations. The devil’s in the data.  […]

2018-10-30T16:34:57+00:00September 14th, 2018|Big Data, CECL|

Takeaways from the July 30, 2018 Ask the Regulators Webinar – Part 4

The July 30 installment of the “Ask the Regulators” series included speakers from the Board of Governors of the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC), the U.S. Securities and Exchange Commission (SEC), the Conference of State Bank Supervisors (CSBS), and the Financial Accounting Standards Board (FASB). The goals of the session were to: […]

2018-10-31T09:17:22+00:00August 31st, 2018|CECL, Regulators|

CECL Accounting: The good, the bad, and the complex (Update)

Financial institutions have complexity on their minds as they confront the transition to the new Current Expected Credit Loss (CECL) accounting standard for loan-loss estimates. Indeed, a recent survey found that nearly eight out of ten financial professionals cited increasing complexity and increase in demand on internal resources, including staff, as two of their biggest challenges in the move to CECL.  […]

2018-10-24T11:15:35+00:00August 28th, 2018|CECL|

Takeaways from the July 30, 2018 Ask the Regulators Webinar – Part 3

The July 30 installment of the “Ask the Regulators” series included speakers from the Board of Governors of the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC), the Securities and Exchange Commission (SEC), the Conference of State Bank Supervisors (CSBS), and the Financial Accounting Standards Board (FASB). The goals of the session were to: […]

2018-10-31T09:18:20+00:00August 24th, 2018|CECL, Regulators|