Check out an updated list of resources for CECL training on the resources page and on the Abrigo events page, which has information on upcoming CECL and ALLL conferences and webinars. 

With implementation of the current expected credit loss model, or CECL, quickly approaching, community banks and credit unions can benefit from resources and CECL training to help make the transition in their allowance for loan and lease loss calculations.

CECL training resourcesAfter all, the CECL model has been called the “biggest change in the history of bank accounting,” and it impacts all financial institutions. Smaller institutions with limited staff, in particular, can face challenges developing implementation plans, identifying critical data that must be archived and determining appropriate loss rate methods while they continue to handle daily operational tasks. Several in-person CECL training opportunities are available in the coming months, and numerous on-demand resources are also accessible to help bankers navigate the CECL transition.

Upcoming conference with CECL training

For example, one conference that will provide timely CECL training is Abrigo’s CECL Kickstart, taking place Feb. 8 online. Hosted by Abrigo, which has the only ABA-endorsed solution for CECL, this event designed to help smaller financial institutions kickstart their adoption of the FASB’s CECL standard. With an emphasis on the needs of community banks and credit unions, our consultants will show how the implementation practices we used successfully for hundreds of larger, SEC-filing financial institutions during their 2020 CECL implementation, as well as for hundreds more projects with less complex entities on the later adoption deadline, can be scaled specifically to meet the needs of smaller preparers.

Attendees will leave with a straightforward view of what’s ahead as they tackle CECL implementation, as well as tips for getting started and best practices. Consultants will address concerns related to coronavirus impacts, including navigating economic forecasts and qualitative adjustments, to help financial institutions make – and quickly execute – a transition plan.

Strategic advisory CECL training

Abrigo Advisory Services can provide customized training as a part of CECL transition assistance offered by the group. The consultants can train community bankers on model configuration and execution in their engagements and can provide a range of other CECL transition assistance services as well.

Free CECL training webinars

More banks and credit unions trust Sageworks ALLL for the allowance for loan and lease loss calculation than any other solution. As a result, many financial institutions also take advantage of CECL training resources available through Abrigo. These CECL training resources include:

The CECL Methodology Webinar Series: This 8-part series of webinars, originally attended by more than 2,000 people, remains available for on-demand viewing. It gives a CECL overview and covers CECL methodologies for consumer-focused loan pools, C&I loan pools, CRE loans, and it tackles forecasting, disclosures and off-balance-sheet credit exposures, among other topics.

2023 Deadline? Steps to Take This Year: This on-demand webinar discussion how to avoid common stumbling blocks and project black holes that can be a drain on resources and staff. Listeners will also learn hHow to use existing capabilities and assets to implement the standard, or ensure that their work implementing the standard pays dividends elsewhere at the financial institution.

Access even more CECL related webinars here.

Learn more about navigating the CECL transition.

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Detailed CECL training papers

CECL training can also incorporate reading educational materials about the accounting standard at your own pace. In addition to resources provided by the FASB and banking associations, there are whitepapers on best practices for the CECL transition available through partners such as Abrigo. A CECL solution buyer’s guide, transition plans for credit unions and data prep guides are some of the whitepapers and materials available to learn more about the CECL transition.

There are only about 12 months until 2023 filers are required to implement the new credit loss model. Taking advantage of CECL training now can ensure you have the knowledge and skills to make the change to the new accounting standard as smooth as possible for your bank or credit union.

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