What is your strategy for implementing CECL? That’s a question an increasing number of financial institutions are being forced to ask and answer. No longer just impacting accounting and finance, the tentacles of FASB’s CECL standard have made their way to organizations’ model risk, credit risk and information technology (IT) groups. If CECL is touching various aspects of an organization, is it feasible for financial institutions to view it myopically, as an accounting issue alone?
Today Situs released its white paper “Capitalizing on CECL for a Strategic Competitive Advantage,” which explores:
• The skills required to successfully address CECL;
• How organizations must evolve their risk framework to meet the new standard;
• Why a centralized CECL committee will foster greater alignment;
• Specific areas where cross-functional alignment is required and makes sense.
While some organizations are trying to limit CECL’s influence, others are embracing CECL and capitalizing on it to drive a strategic competitive advantage.
What is your strategy? Download the white paper.