BAI Banking Strategies Executive Report

CECL: The critical countdown

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The greatest change to financial services bookkeeping in generations, CECL promises to revolutionize how banks and credit unions report losses. It will demand intense focus, tech savvy and discipline to implement: for loan underwriters, internal auditors, all the way up to the C-suite. But rather than throw their collective hands in the air, bankers can get ready with confidence and then some.

This executive report seeks to peel back the deathly jargon ("loss reserve accounting," anyone?) and intimidating checklists to reveal some surprising advantages the new standards will create.

Articles in this report include:

Beating the CECL clock and the competition: The competitive edge in regulation
Beyond checklist chores with the new accounting standard, banks can also gain major market advantages—if they know where to start.

CECL status check: Is it time to accelerate your implementation plan?
When broken down to eight component parts, solving the CECL puzzle need not become an overwhelming task.

How community banks, credit unions can prepare for CECL
While smaller financial institutions may lack the needed financial muscle, there’s still a wealth of information and resources to draw on.

Five sure steps to CECL success
For banks, the phrase “team effort” may never fit so well as in the run-up to make sure new best practices stick.