CECL is Finally Here – Final Tips for Banks in their Transition
Aired: March 28, 2023
As many financial institutions work to report their first official CECL calculations, consideration for inputs and assumptions as well as supporting documentation is a top priority. However, many audit and exam questions are focused on the ongoing maintenance and monitoring - having a plan is best practice.
In this webinar, the ABA and Endorsed Solutions provider Abrigo, will provide final tips for preparing this critical allowance calculation. They will discuss all the data, documentation, ongoing maintenance, and questions you will need to have reviewed for a seamless transition.
You will learn:
Conceptual soundness for initial measurement
Why documentation is such a critical part of the process
Where audit and regulatory focus is
How partnerships ease the transition
Neekis Hammond, Abrigo’s Managing Director of Advisory Services, uses his unique expertise and 15+ years of experience in accounting/banking to help banks and credit unions develop strategies for navigating regulations efficiently. A licensed CPA, he specializes in the ALLL/CECL, stress testing, and portfolio analysis. Prior to joining Abrigo, Neekis worked in public and industry accounting, including as a Consultant with Elliott Davis Decosimo providing M&A-related consulting to financial institutions.
Joining the ABA in 2009, Mike has led industry efforts across a range of financial reporting issues with accounting standard-setters worldwide, as well as with the U.S. banking agencies. Historically, these issues have included mark-to-market accounting, liquidity and interest rate risk, troubled debt restructurings, and CECL. Mike is a regular speaker at accounting and investor forums, has contributed to the book The New Impairment Model under IFRS 9 and CECL, and is also author of the many CECL implementation discussion papers that are available at ABA.com/CECL.
Mike has over thirty years of experience in various financial service industries, starting his career at EY. He has been controller of a life insurance company, CFO of an international charity and was also at the mortgage giant Freddie Mac.
This webinar is only available to ABA bank members and to non-member banks. Sign in for access.