Credit unions are invited to participate in a complimentary webinar at 10 a.m. on June 9 to preview Abrigo’s CECL solutions. CECL represents the biggest accounting change in banking history.
The new standard requires financial institutions to record credit losses at loan origination based on a “life of loan loss” expectation. Under CECL, financial institutions will need new processes for collecting and storing loan level data, forecasting future economic conditions, and incorporating those forecasts into the CECL estimate.
During the webinar, participants will learn how Abrigo’s CECL solution can help:
- archive loan-level data and begin scenario planning;
- run parallel calculations with the incurred loss model;
- supplement credit loss (or lack thereof) with proprietary data and research; and
- automate reporting and audit tracking.
The webinar will be presented by Josh Ridewood, a member of the sales engineering team at Abrigo, where he serves as a technical resource providing product demonstrations and advising how the Abrigo platform can best be leveraged by financial institutions.
As previously reported, the New York Credit Union Association has endorsed Abrigo’s Portfolio Risk and CECL software solutions to help New York credit unions meet the upcoming deadline for CECL implementation as well as streamline their portfolio risk management.
For more information and to register, visit the Association’s website.