By Alex Driscoll
We’re proud to announce that the SS&C Primatics team will be actively participating at the upcoming CECL 2017 Congress, taking place in New York City, October 11-12.
The Congress will provide a full overview of the CECL process, delving into what to expect, how to leverage current infrastructure, modeling requirements, and the potential impact on systems and processes.
John Lankenau, SVP of Product and Operations, will kick off the event by giving the Chair’s opening remarks on Wednesday, October 11.
During the second day of the conference, Lauren Smith, Director of Accounting Policy and Research at SS&C Primatics, will be presenting ‘Tackling CECL with a holistic approach: So much more than models and calculations’.
During her session, Lauren will discuss the consequences of CECL methodology elections on reporting, data, and a potentially volatile estimate, including implementation considerations such as:
- Integrating the estimation methods with data inputs and reporting for a controlled and repeatable process
- Analytics and multidimensional reporting that can be used to explain a volatile estimate to stakeholders
CECL will have a wide-ranging impact on financial institutions’ allowance processes, requiring new data elements and new disclosures and analytics in support of a forward-looking credit loss estimate. A holistic approach – one that considers the consequences of methodology elections on reporting, data, and a potentially volatile estimate – will be critical to a successful CECL implementation.
CECL 2017 Congress
CECL 2017, taking place on October 11-12 in New York City, will bring together over 20 senior risk presenters from leading financial institutions to discuss preparation of the overhaul of current practices to facilitate CECL and adapting systems to ensure implementation and compliance.
Key highlights at the Congress include
- CECL Introduction
Understanding and interpreting the new standard - CCAR/DFAST Synergies
Leveraging current stress testing infrastructure for CECL - Data requirements
Meeting data requirements under CECL and preparing infrastructure - Modeling techniques
Modeling techniques for CECL requirements - Documentation
Aligning teams for increased rigor of documentation - Product Structuring
Managing adjustments to product offering and structures, including revolvers and retail - Governance and controls
Implementing a governance and control framework under CECL - End state vision
Understanding the end goal and considering potential unintended consequences
Join us on October 11-12, 2017, to review system requirements for full CECL implementation and impact on the business. We look to bring together industry professionals to provide a platform for networking, idea sharing and developing processes.
If you can’t make those dates, we are hosting another CECL Congress in New York City, 21-22 March, 2018. If you would like to receive more information, be the first to receive our agenda or register early, please contact olympia.nolan@cefpro.com.
