Since the new Current Expected Credit Loss (CECL) accounting standard was issued in 2016, it has challenged financial institutions (FI's) of all types to meet its complex expectations and timelines.

The CECL process is almost entirely new, and many FI’s do not have the in-house expertise required, nor the existing technology platform to leverage, in order to effectively prepare for this one-of-a-kind requirement. This is especially true for FI’s for which the price and complexity of solutions is an additional road block. FRG and SAS have partnered to provide a state-of-the-art technology solution to overcome this obstacle.

FRG’s experience with a variety of organizations allows us to provide a turn-key approach to CECL implementations, whatever stage of CECL preparation your company is in. Our CECL Solution gives organizations the ability to quickly solve CECL regulatory challenges, while adding value by providing a means for data analysis to address ongoing business needs.

Benefits

A technology solution improves efficiencies, decreases person-hours, and increases trust in your data. With less time required to analyze and report on your data, your team can focus on their core roles.
The CECL solution brings benefits you can leverage across your organization, allowing for data analysis that will address compliance with existing and future regulations.
Select the modules and expertise required, as required—license only what you need, adding new functionality as your business grows.

A Turn-key Approach

Having the ability to manage the following functional components is critical to building a flexible platform that can change with your needs. FRG can provide these components.

Scenario Management
Input Data mapping and registry
Configuration management
Model Management
Loss Methodology mapping

CECL Prep Workshops

CECL preparedness involves more than just knowledge about the standard. It involves time, exploration and thoughtfulness, as well. Is your company ready?

FRG and SAS have partnered to provide workshops for firms who are in various stages of preparing for CECL. The topics are presented as interactive workshop sessions at a location convenient for you.

CECL 101

An overview of some of the key aspects of the new standard, providing a foundation for your team to start considering what data is needed and which methodologies should be used. Afterward, you should be able to create a CECL roadmap.

Data Preparedness

Covers best practices for ensuring complete, clean, consistent and accurate data is provided for CECL methodology development and execution.

Methodology Overview

Training on the most common loss methodologies, including pros and cons for different approaches and examples for how they are used.

Ready to learn more?

Visit our Resources tab to download FRG’s white papers about CECL including “Current Expected Credit Loss: Why The Expectations Are Different,” and “CECL Scenarios: Considerations, Development, and Opportunities.” Keep up with suggestions for preparing for CECL via regular postings on the FRG blog.