Reminder – Complimentary Webinar April 5, 2017, 2 pm – 2:45 pm Eastern CECL – What’s in store for your bank, your bank board and audit committee? Is it time to prepare?
Depending on the size of your bank, CECL, the new ALLL methodology requirements, will become effective in three or four years. But there is a lot to tend to before they are effective. A Deloitte Managing Director will help you get ready.
Webinar Link to Register: https://attendee.gotowebinar.com/register/7687147965826851075
The American Association of Bank Directors and Deloitte & Touche are jointly sponsoring a complimentary webinar at 2 pm Eastern on 5, April 2017 for members of bank boards, CEOs, and CFOs on CECL.
CECL requires banks to estimate “Current Expected Credit Loss” by using historical information, current conditions and reasonable and supportable forecasts. 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 are used to.
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.”
Questions that the webinar will address:
- What are the questions that you need to ask and document?
- What impact will CECL have on your bank’s business and strategy?
- What information, systems, and controls will your bank need to comply?
- What corporate governance and risk management principles can help you?
- How might the qualitative portion of the ALLL be impacted under CECL?
- How should your bank document its efforts?
- What more do you need to know if you serve on the Audit Committee?
- What will the banking agencies be expecting of you as board members and senior management?
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 to up to 15% discounts on D&O insurance offered by Amtrust, a national D&O insurer.
AABD was founded in 1989 in the midst of the S&L crisis to represent the information, education and advocacy needs of individual bank and savings institution directors.
The AABD is the only banking association in the United States which exclusively serves individual directors rather than their financial institutions.
Deloitte is a recognized leader in providing audit, tax, consulting and financial advisory services, and serves all of the commercial banks listed on the Fortune 500.
- Jonathan Prejean – Managing Director, Deloitte Advisory, Deloitte & Touche
- Troy Vollertsen, Partner, Deloitte & Touche
- Chris Nicholson – former Partner, Deloitte, and Chairman of the Audit Committee, Old Dominion National Bank
- David Baris – AABD President and Partner, Buckley Sandler