Banking & Financial Services
Current Expected Credit Loss Standard
Ensuring compliance for regulators and peace of mind for you
Since it was announced, CECL has taken the industry by storm. Institutions across the country struggle with validating their data and methodologies for CECL compliance. That’s where we come in.
Practice Lead
Joseph Jalbert
Principal
Joe is a member of BNN’s banking and financial services industry team, with particular experience serving community banks and credit unions. Joe has a wealth of knowledge in mergers and acquisitions, SOX 404 and FDICIA reporting.
Download our CECL Toolkit to help get your bank on track for a successful CECL implementation.
Our team can help guide you through the complexities of CECL implementation.
The Current Expected Credit Loss standard demands a lot from banks and financial institutions. You need confidence that your data and methodologies for recognizing losses and evaluating loan quality are accurate and your tools are reliable.
The BNN CECL team can help with a variety of data-related services for institutions in the process of implementing CECL. And our capabilities are always growing.
Let us help you ensure CECL is working for your institution.
How we can help
- Control design assessments – evaluating the design of controls intended to ensure the information used for the CECL process is complete and accurate
- Control assurance testing – testing the effectiveness of CECL processing and reporting controls
- Data flow validation – validating and tracing CECL calculation source information to the resultant calculations and reports
- System selection for CECL reporting tools
- Vendor selection and contract negotiations
- Process redesign – evaluating the current CECL reporting process, identifying gaps, and developing a roadmap to implement any new processes
- Developing accounting whitepapers to navigate CECL guidance
- Assistance with developing CECL policies and procedures
What our clients are saying
The organization and structure BNN brought not only got our project back on track, but it has also been an educational experience and a cost-saving decision.
-- CFO, A BNN Business Process Redesign Client
Who we work with
- Commercial banks
- Savings banks
- Trust companies
- Credit unions
- Non-depository trust companies
- Registered investment advisors
- Investment management companies