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Putting it All Together: Managing Current Expected Credit Loss (CECL) to Benefit Your Credit Union

Putting it All Together: Managing Current Expected Credit Loss (CECL) to Benefit Your Credit Union

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Highlights

Putting It All Together: Managing CECL To Benefit Your Credit Union

Maya Angelou once said, “I did then what I knew how to do. Now that I know better, I do better.”  In the first three CECL seminars we focused on sharing key information to help credit union leaders know better about CECL.  In this Capstone webinar, we will focus on using that information to do CECL in the best way for your credit union.

UPDATE

In the FIRST half of this webinar, we will pull from the information addressed in earlier webinars such as regulatory requirements, data collection practices, managing losses and balance sheet management. Wethen show methods to apply this information in practical, easy to use processes and procedures including credit risk management and statistical design.  Our ultimate goal is to help make the conversion to CECL as easy and painless as possible for credit union leaders.

In the SECOND half of this webinar, we will introduce some new information concerning New Accounting Rule for Leases - ASU No. 2016‐02, Leases (Topic 842). This will be an introduction for what is new to come!

Takeaways:

Primary CECL overview from first three webinars:

  • Thorough review of regulatory expectation guiding the conversion to CECL
  • Review of appropriate statistical methods for modeling probability of loss
  • Demonstrate coordinated methods for data collection and management
  • Demonstrate procedures to utilize credit risk management to manage CECL
Introduction of Key Changes for New Accounting Rule for Leases - ASU No. 2016‐02, Leases (Topic 842) 
  • All leases with terms greater than twelve months must be capitalized on the balance sheet.
  • Capitalized amount is the present value of future lease payments.
  • Asset is amortized over the life of the lease.
  • Liability is amortized over the life of the lease, including interest expense
Financial Effect:
Gross up the Balance Sheet will:
  • Impact regulatory capital ratio
  • Lower the return on assets

Who Should Attend:

  • CEOs/Managers
  • CFOs
  • Lending Officers
  • Compliance Officers
  • ALCO Committee Members
  • Certified Public Accountants (CPAs)
  • Internal Auditors or others working in accounting roles at the CU

By purchasing this webinar, you are registering for this session. Additional registration information will be sent to you in a response from this commerce site that requires logging onto and signing in through a webex link. In order to be awarded the full credits, you must respond to three out of the four polling questions asked during the program. (Please note Webinar Event Time & Date).

Participants will earn 1.0 CPE credit

Field of Study: Accounting

LIVE DATE: December 5, 2017 | 1:00pm MST

Additional Information

Prerequisites: Minimum 6 months of ALCO/accounting experience in the credit union.

Advanced Preparation: None

Program Level: Intermediate

Delivery Method: Group Internet Based

Refund and Cancellations: Requests for refunds must be received in writing within 7 days of initial purchase and will be subject to a cancellation fee. For more information regarding refund, complaint, and/or program cancellation policies please contact our offices at 406-315-2809.

VirtualCorps.com is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: http://www.nasbaregistry.org.

About the Presenters

Randy Thompson

Risk-based Lending / Credit Migration / Pricing

Randy’s background includes more than 10 years in banking, 15 years in higher education and 4 years in state and national government. He has held various positions in his banking career including branch manager, senior commercial loan officer, and Division Vice President. During his banking tenure he created a cutting edge methodology for pricing commercial loans. His research and teaching focused on the development of effective behavior change models.

  

Mike Richards

Current Expected Credit Loss (CECL) Expert

has held the position of CEO of Richards &
Associates, CPAs for over thirty-five years. He joined the firm in 1973 after earning a bachelors degree in business administration from the California State University at Los Angeles and becoming a Certified Public Accountant. In addition to introducing many new services, he is responsible for quality control of all professional services offered by the firm. 
Richards & Associates, Certified Public Accountants, was founded in 1967 by two former NCUA examiners. For nearly fifty years we have stayed true to their vision of exclusively providing audit services to the Credit Union community. 
Richards & Associates is ranked among the top ten credit union audit firms in the United States and number two in the states of California and Hawaii.

 

 


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