The transition to CECL is fast approaching. Many firms are well underway in establishing the necessary frameworks to comply with the new accounting standard. CECL has triggered a domino effect of revamping current processes among accounting, finance, risk management, and IT teams towards a more integrated and forward-thinking approach. Or has it?
In the next few years, many banks will have CECL under their belts and will begin to realize the impacts of day 1 CECL implementation decisions. While each bank will pursue its own practical path for meeting the new standard, realizing its business impacts can help to reset your navigation.
Join us as experts, Laurent Birade, Senior Director and Ed Young, Senior Director at Moody’s Analytics discuss key considerations of any bank as we look beyond meeting the CECL standard.
· Preparing for day 1 of CECL implementation
· Aligning accounting and portfolio management exercises
· Understanding the impact of CECL on the balance sheet