CECL: Staying Focused

and Avoiding the Myths and Misconceptions

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RECORDED: December 12, 2017
TIME: 1:00 - 2:00 PM CT

As most of us know the Financial Accounting Standards Board (FASB) introduced the new Current Expected Credit Loss (CECL) standard last year to better understand the credit risk associated with the portfolio and reporting on financial instruments in financial statements. A successful implementation of CECL requires better integration between accounting and risk management and access to an expanded historical data set to calculate credit reserves. CECL creates a waterfall effect for financial accounting and the budgeting and planning teams. Creating a plan and asking proactive questions will help the institution better prepare for the changes and avoid the myths and misconceptions.

Join us for this complimentary BAI webinar for an educational and informative discussion to learn how your institution might be able to create a strategy to manage the new process. You’ll learn about what’s ahead for the coming FASB CECL mandate and how your institution can be better prepared.

Key Takeaways:

  • What CECL means for data retention and storage
  • Timelines and implementation concerns
  • How other risk and accounting functions are impacted
  • Long-term impacts to lending decisions

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PRESENTER:

Thomas Caragher
Sr Product Manager, Financial & Risk Management Solutions
Fiserv

Tom Caragher is the Product Manager for the risk products within the Financial & Risk Management Solutions (FRMS) division at Fiserv, Inc. (NASDAQ: FISV). He is responsible for the overall direction and strategy for the company’s asset liability and funds transfer pricing products.

He joined Fiserv in 2005 after spending 5 years as an interest rate risk consultant. Prior to that Tom spent several years at the Chicago Board of Trade in back office operations as well as a credit analyst for GreenTree Financial.



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