CECL is Coming: Are You Ready? [CUNA Article]
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Summary
The Credit Union National Association (CUNA) interviewed Douglas Winn for the May 2017 issue of the Credit Union Magazine, highlighting the Current Expected Credit Loss (CECL) model.
The focus of the article is the significant change that CECL will bring to how credit unions calculate their loan reserves. The article also urges credit unions to begin early planning to account for the changes, including reviewing balance sheet concentrations, collecting and validating your data, choosing the right models, creating a project plan and educating yourself and key stakeholders.
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Founded in 2003, Wilary Winn LLC and its sister company, Wilary Winn Risk Management LLC, provide independent, objective, fee-based advice to nearly 600 financial institutions located across the country. We provide services for CECL, ALM, Mergers & Acquisitions, Valuation of Loan Servicing and more.
Released May 2017