Paula King is Senior Advisor for MST Advisory Services, part of a team of subject matter experts assisting financial institutions nationwide in the interpretation and application of Current Expected Credit Loss (CECL), the new allowance accounting standard. Paula has held executive positions, including as Chief Financial Officer, in the banking industry for more than 25 years. In addition, she co-founded and served on the board of directors of a financial institution. She has been responsible for SEC and financial reporting, strategic planning and capital raising efforts and has served as a Chief Risk, Operating, and Compliance Officer. Paula has extensive experience in the preparation and reporting of the allowance for loan and lease losses, including ensuring compliance with regulatory and audit requirements, and creating allowance policies, procedures and processes.
Paula works with financial institutions to:
- Develop a customized and efficient methodology to suit their needs and maintain compliance with the standard, regulators and external auditors
- Provide guidance on establishing appropriate CECL policies, procedures and processes to support their methodology
- Serve as a subject matter expert for CECL and provide guidance in interpreting the financial accounting standard, support and management to ensure that they are implementation-ready and meet the FASB deadlines
- Work with the data available from their core systems and provide recommendations for additional information necessary for CECL compliance
- Provide guidance on reporting and financial disclosures to meet SEC disclosure requirements