Impacting every area of a financial institution, the Current Expected Credit Loss (CECL) standard is the largest accounting change in 40 years. While CECL requires revisions to current modeling practices, that’s only the start. Once the models are developed and validated, financial institutions will need to incorporate the CECL models into pricing, underwriting, investment and loan servicing policies, and even into internal audit procedures.
With the implementation dates quickly approaching, there is still a window of time to not only complete this intensive transformation that regulators and investors are watching closely, but to leverage it to heighten the risk management of your firm.
Ankura provides custom solutions to assist financial institutions with: