Provider: Abrigo
Abrigo’s allowance technology gives financial institutions flexibility in their path to CECL compliance by offering two ABA-endorsed solutions, the MST 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 current and future 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.
The MST Loan Loss Analyzer (LLA) streamlines the calculation and documentation for accurately estimating the allowance today and the Allowance for Credit Losses (ACL) under CECL to help satisfy regulatory and audit requirements with an automated process tailored to the bank. Sageworks ALLL offers banks flexibility in the transition to CECL by providing a platform for quickly and easily testing different scenarios to see the estimated impact on the allowance and capital.
Join this four-part, educational series to stay on track with your CECL transition. The series is led by Abrigo consultants who have helped hundreds of institutions successfully implement CECL. Live sessions are eligible for CPE credits.
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March 17, 2021 | 02:00 PM ET
In this presentation, tailored for financial institutions that have not yet adopted the standard -- or those who may feel the need to take a second look at their practices given the realities of the pandemic economy - we will discuss lessons learned from implementing the standard at more than a hundred such institutions, working with scores of different audit and validation firms across the spectrum of size, resources, and sophistication.
DetailsMarch 01, 2022
Most community banks with assets under $1 billion will implement CECL in 2023. But, where to start? Peter Albero, EVP and CFO of Salisbury Bank, and Candace L. Richardson, internal audit manager and CECL officer for Security State Bank, share their recent CECL implementation strategies. The discussion will also include time for FAQs about the implementation process from CECL experts.
DetailsNovember 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.
DetailsJuly 23, 2021
September 13, 2021
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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