CECL: Don't Neglect the Fundamentals

Firms that proactively implement a CECL process that is controlled, efficient, collaborative and sustainable will find themselves with a competitive advantage over time. The long-term benefits of this holistic approach are multifaceted: 

• Fewer resources needed for regular monthly/quarterly ALLL production.

• Faster turnaround to address questions from management, auditors and regulators.

• Reduced opportunities for audit or regulatory findings.

• Fewer key person risks.

• Greater flexibility to adapt to maturing interpretations of the standard and emerging best practices.

• Reduced maintenance costs.

• Improved collaboration between development, validation and production teams.