Lessons learned from the adoption of CECL
Tune in to the latest podcast episode of Issues of Interest from Baker Newman Noyes, where host Jordin Milano discusses the implementation and lessons learned from Current Expected Credit Loss (CECL) adoption in the banking and financial services industry. Joined by guests Mark Haberland and Chase Ogden from Darling Consulting Group, this episode delves into the importance of ongoing monitoring, the CECL control environment, and effective governance. Discover how institutions can take ownership of their models, perform sensitivity testing, and monitor model assumptions.
A note from Darling Consulting Group:
Thank you for listening to this episode of Issues of Interest to discuss the next phase of CECL for your organization.
As all eyes turn to a falling rate environment (and the next potential economic downturn), we encourage you to not lose focus on the reliability of your CECL model. Now that implementation is in the rearview mirror, CECL has the potential to fall off the radar. But can you be certain your model will still perform reliably as rates fall and credit impacts rise?
To help ensure your CECL model continues to perform as intended, DCG developed a robust CECL monitoring product, which had been missing throughout the industry until now. DCG’s ongoing monitoring can offer the confirmation that a CECL model remains fit for use through economic environment changes.
To view this new product, you are invited to watch this virtual walkthrough.
Disclaimer of Liability: This publication is intended to provide general information to our clients and friends. It does not constitute accounting, tax, investment, or legal advice; nor is it intended to convey a thorough treatment of the subject matter.