Implementation of the new Current Expected Credit Loss (CECL) standard is rapidly approaching clients in the bank and non-bank industry. Public entities (that are SEC filers) must adopt CECL guidelines for the fiscal years beginning after 12/15/2019. All other industry participants must be CECL compliant for fiscal years beginning after 12/15/2020. The goal of CECL is to replace the concept of an incurred loss model to the current expected credit loss model. Lenders will be tasked to collect a significantly larger volume of data, including loan-level data (e.g. economic data, borrower financial data) that could be correlated to loan losses.
Warbird Consulting Partners (WCP) are uniquely positioned to assist clients navigate this new requirement, both with program implementation and effective monitoring to more accurately and timely reflect losses within a given loan portfolio.
Our financial compliance advisors have years of experience among the SMEs, CPAs, and PMPs.
We are a vetted workforce ready to rapidly deploy with a Build-to-Suit staffing model.
Our On Demand Model allows for executives to provide direct contact and immediate solutions
Since we are not an attestation firm, we are not limited in our ability to offer consulting, design and implementation services.
Our team has years of experience surveying client’s required needs and meeting them with out proven methodologies.