If credit unions want to stay on track for implementing the Current Expected Credit Loss (CECL) standard, they need to have already completed several milestone tasks and to complete several more by the end of the year. Credit unions also need to be sure they have allocated sufficient time to complete the tasks that need to be finished between 2019 and 2022.
With this in mind, what exactly should be the current focus of credit unions’ CECL project teams? Five key activities will be emphasized today in a 30-minute webinar by MountainView Financial Solutions, a Situs company. The webinar begins at 1 p.m.
The webinar, Credit Union Progress with CECL, translates the results of a recent MountainView survey into practical uses such as timetables and benchmarks, next steps in addressing common challenges, and additional resources credit unions can consider for their unique challenges.
MountainView conducted its online survey May 9 to June 22 and received responses from 142 credit unions nationwide. The survey questions spanned across modeling methodology and models to be used, asset classes to be modeled, data, and use of vendor-provided solutions.
While webinar registrants will see key takeaways from MountainView’s analysis of the answers to each survey question, the webinar will also synthesize overall results into five key activities credit unions should be doing right now.
Click here to register for today’s webinar. Or, watch it on demand