Complimentary Webinar on CECL: What Questions Should You Be Asking as a Board Member Before It’s Too Late?
February 7, 2019
2 pm – 2:45 pm Eastern
Depending on the size of your bank, CECL – the new ALLL methodology requirements – will become effective next year or in 2021. But there is a lot to tend to before they are effective. Leaders from Deloitte & Touche LLP’s CECL advisory team will lead a webinar at 2 pm Eastern on February 7 for members of bank boards, CEOs, and CFOs.
The webinar will be moderated by Chris Nicholson – former Chairman of the Audit Committee, Old Dominion National Bank and David Baris – AABD President and Partner, Kennedy Sutherland.
CECL requires banks to estimate “Current Expected Credit Loss” by using historical information, current conditions, and reasonable and supportable forecasts for the life of the loan. This is a fundamental departure from past requirements that use the “incurred loss approach” and could require very different and significantly greater data requirements and changes in methodology than banks use today. Furthermore, in June 2016, the federal banking agencies issued a statement that “this important accounting change requires the attention of each financial institution’s board of directors and senior management.” (emphasis added)
Questions that the webinar will help answer include:
- What are the questions that you need to ask?
- To whom should you be asking the questions?
- What resources are necessary to transition into CECL?
- What corporate governance and risk management principles can help you?
- What more do you need to know as an Audit Committee member?
- What will the banking agencies and auditors expect of you?
This webinar is complimentary and open to all bank directors, CFOs, and CEOs. Bank directors who register and attend will receive 45 minutes credit toward their AABD Bank Director Certifications. Participation in the AABD Bank Director Certification Program entitles the Bank whose directors are participating for up to 15% discounts on D&O insurance offered by Amtrust, a national D&O insurer. Amtrust is a AABD sponsor.