CECL – the acronym has been around a while now, but things are about to get real. Regardless of where you are in your CECL preparation journey, it’s critical that you understand the potential impact to your institution and get prepared before the ALLL gets turned on its head.
AFTER THIS WEBINAR YOU’LL BE ABLE TO:
- Explain the new current expected credit losses (CECL) accounting standard
- Understand the relevant regulatory guidance and resources
- Distinguish between possible methodologies and calculations
- Develop an implementation strategy
- Know how to record the transition adjustment
The new CECL accounting standard is a game-changer in terms of the allowance for loan and lease loss (ALLL) methodology and calculation. Going from an incurred loss model today to an expected loss model tomorrow will most likely result in higher allowances for most financial institutions. It’s imperative that you understand how CECL will impact your financial institution and perform back-testing long before the required adoption in 2023. Are you prepared?
WHO SHOULD ATTEND?
This informative session is designed for individuals involved in the ALLL calculation and CECL implementation.
- Useful website links to CECL resources
- Employee training log
- Interactive quiz
SPEAKER: Stephen Schiltz, CLA
Steve Schiltz is principal with CLA’s Tucson office. He began his career with CLA in 2002 and has extensive experience providing assurance and consulting services to community financial institutions. Steve has made presentations to management teams, supervisory committees, and boards of directors, as well as national speaking engagements and webinars.
A licensed CPA in Arizona and Texas, Steve is a member of the AICPA, Arizona Society of CPAs and the Beta Gamma Sigma Honor Society. He received his bachelor’s in accounting, cum laude, from the University of Arizona in Tucson.