Dates of Event & Pricing

$295 for Webinar and Playback*

*Playback has no expiration.

  • Thursday, August 10, 2023

  • 2:00 – 3:00 pm (Eastern Time)

  • 1:00 – 2:00 pm (Central Time)

  • 12:00 – 1:00 pm (Mountain Time)

  • 11:00 – 12:00 pm (Pacific Time)

Curriculum

The guidance requires institutions to estimate an expected lifetime credit loss on financial assets ranging from short-term trade accounts receivable to long-term financings measured at amortized cost. While estimating lifetime losses, all available and relevant information about past events, current conditions, and reasonable and supportable forecasts should be considered.

Unlike the incurred loss models in existing U.S. GAAP, the CECL model does not specify a threshold for recognizing an impairment allowance. Rather, an entity will recognize its estimate of expected credit losses for financial assets from the day they go on the balance sheet (or an off-balance sheet arrangement is entered into). Credit impairment will be recognized as an allowance — or contra-asset — to the amortized cost basis of the asset

By taking this webinar, attendees will: 

  • Understand the new CECL guidance and how it impacts your institution
  • Best practices and lessons learned from implementing CECL
  • After-effects of CECL implementation
  • How to handle unexpected economic shifts in future quarters


Specific Areas Covered:

  • Overview of CECL
  • Impact of CECL Implementation
  • CECL Post-Implementation 
  • CECL Financial Reporting


Bonus Takeaway Checklist

  •  CECL Post-Implementation 6 areas of focus (Model Validation, Prepayments, Qualitative Adjustments, Off-Balance Sheet Reserves, AFS Securities, Data Cleanup and Governance/Documentation)

Instructor

Director, Accounting and Reporting Advisory - Stout Manish Garg

Manish Garg is a Director in Stout’s Accounting & Reporting Advisory practice. He has over 20 years of experience in a variety of accounting and financial leadership roles, including controllership, FP&A, project management, technical accounting, and transaction advisory. He brings a solid technical advisory background, including advising on new and complex transactions, implementing new accounting guidance, and assessing and analyzing accounting and reporting impacts of financial statements. Mr. Garg advises both publicly traded and privately owned companies on compliance with U.S. GAAP and IFRS. Mr. Garg’s extensive expertise lies in the financial services industry, specifically in the areas of business combinations, financial instruments, derivatives and hedging, variable interest entities, tax credits, credit losses, and more. Prior to joining Stout, Mr. Garg was a Vice President at Huntington Bank, where he provided financial accounting and reporting advisory to Huntington’s various businesses. He had also held senior positions in various departments of HSBC and led a global finance transformation project at American Express.

Director: Disputes, Claims and Investigations - Stout Ian McCready

Ian McCready is a Director in the Disputes, Claims, & Investigations group. He has over 17 years of experience in risk, with expertise in forensic investigations, cross-border insolvencies, turnaround and restructuring situations, credit risk management, and regulatory compliance. He specializes in advising lending institutions on complex matters regarding both distressed and regulatory issues. He has advised private investment funds, wholesale banks, community banks, credit unions and insurers on topics such as distressed workouts, the CECL standard, stress testing, credit modeling, and compliance. Prior to joining Stout, Mr. McCready served as a subject matter expert at Moody’s Analytics, restructured the credit risk department for a Bermuda based bank, and was a member of the wind-down team for the commercial loans portfolio during the Lehman Brothers bankruptcy.

Credits

1.0 CPE Credits & 1.2 AAP Credits