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White Paper

CECL: Don't Neglect the Fundamentals

About this paper

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

 

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