Impact of CECL on Banks

Torrey & Gray is a recruiting and staffing firm in the Chicago area that has expertise recruiting professionals for CECL, Risk Modeling and other finance related positions for financial services organizations.  In this article from the ABA Banking Journal, the potential effects of the upcoming Current Expected Credit Loss standard (CECL) is explored from several viewpoints.

As with past regulatory reporting requirements, a significant amount of time and resources may be needed to effectively capture and assemble the data needed by banks to begin the process.  The requirement may impact smaller banks more adversely as their cost of obtaining reliable forecasting models and information may have to be outsourced.

To read more, CLICK HERE for the full ABA article.

What are you doing to prepare for CECL?