Consulting

Confessions of a Data Analyst

The implementation of CECL has been called the biggest change in financial institution accounting . . . ever. Under current U.S. GAAP, financial institutions account for losses based on historical events or incurred losses. Beginning in the first quarter of 2020, financial institutions must look at the past as well as the future over the full lifetime of a loan. […]

Your CECL Committee: Who’s Invited?

For financial institutions, the path to CECL compliance starts with establishing a CECL committee, whose job it is to guide the institution through the process of transition to estimating their allowance in compliance with the new Current Expected Credit Losses accounting standard. Broad committee representation is recommended because CECL will require input from more departments of the institution – that is, more people and positions will participate, at some level, in the CECL allowance process. […]

CECL Nears, Priorities Are Changing

As CECL nears, institutions must re-think their preparation processes.  Time marches on. And CECL lies in wait. And as the former grows shorter and the latter nearer, priorities are changing for the financial institutions that will be required to adhere to the new allowance accounting standard. […]