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ABA: The American Bankers Association

Abrigo: Current Expected Credit Loss (CECL) Solutions

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Provider: Abrigo

Abrigo

Abrigo’s allowance technology gives financial institutions flexibility in achieving CECL compliance by offering two ABA-endorsed solutions, Loan Loss Analyzer and Sageworks ALLL. The technology also acts as a data warehouse to help banks collect the information needed to produce forecasts and inform directors of the credit risk they face.

Both solutions automate the allowance calculation to maintain compliance with GAAP. The solutions give banks a host of loss rate methodologies and segmentation options to create the most defensible and representative model of credit loss in their portfolio.

Loan Loss Analyzer (LLA) is an automation tool tailored to the bank, which calculates and documents the Allowance for Credit Losses (ACL) under CECL to help satisfy regulatory and audit requirements. Sageworks ALLL similarly offers a compliant solution for GAAP, but it also affords banks flexibility  to quickly and easily test different CECL scenarios to see the estimated impact on the allowance and capital. The Sageworks solution is also integrated into Abrigo’s origination, stress testing, and asset/liability solutions.

When First & Farmers National Bank began searching for a CECL solution in 2020, the top priorities for a good fit were cost and integration support. And with a 2023 deadline fast approaching, they wanted stability, knowledgeable staff, and peace of mind that their vendor wouldn’t be bought or sold during the implementation process. They chose Abrigo; read about their story.

Abrigo CFO

CECL Model

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Benefits

  • Best practices learned from supporting more than 1000+ institutions through CECL
  • Time savings, as bankers do not have to track down data, reconcile balances in several spreadsheets or manually update formulas
  • Auditor and examiner satisfaction through a defensible and documented allowance process
  • Flexibility to quickly try different scenarios and segmentation strategies without overhauling the calculation
  • Robust loss rate methodologies, including discounted cash flow, that allow the bank to choose the best model for their loan pools and portfolio
  • Integration with any core system as well as additional interfaces such as general ledger, charge-off and recovery, credit card, Small Business Administration (SBA) data and others
  • Full-service support team offering quick, unlimited technical support
  • Hosted in the institution behind your firewall or in the cloud
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Video

Abrigo: Current Expected Credit Loss (CECL) Solutions

Webinars

CECL Implementation FAQs: Progress as 2023 Approaches

November 22, 2022

With less than a few months to comply with the current expected credit loss model (CECL), many still have outstanding questions and concerns about their efforts to prepare. Whether your bank is rushing to implement or are already running in parallel, much can be learned from the experiences of those that have already adopted.

Details

Changes to Acquired Financial Assets under CECL – PCD to PFA

June 29, 2023 | 02:00 PM ET

Abrigo Team members will discuss a current Technical Agenda item from the FASB that will result in changes to purchase accounting under CECL.

Details

Beyond CECL: Stress Testing, ALM, and Financial Planning

November 08, 2023 | 01:00 PM ET

In this session, we will discuss how the investment of time and systems in data collection, model-building, and economic forecasting for your CECL calculation can pay dividends in a financial institution's asset/liability, stress testing, loan pricing, and financial planning and analysis (FP&A) practices.

Details

Resources

Provider

Abrigo

Contact:

Abrigo

Abrigo enables U.S. financial institutions to support their communities through technology that fights financial crime, grows loans and deposits, and optimizes risk. Abrigo’s platform centralizes the institution’s data, creates a digital user experience, ensures compliance, and delivers efficiency for scale and profitable growth. We also offer banks the only ABA-endorsed solutions for CECL compliance, giving institutions confidence as they make the accounting transition. Make Big Things Happen. Get started at abrigo.com.

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ABA-endorsed products and services are evaluated by industry experts and bankers. Learn more about our due diligence process.

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