FASB CECL Standard: ALLL and Reporting Requirements 2021

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Description: Just because CECL compliance has been pushed back to 2023 for Bucket 2 filers, there is no time to prepare like the present. CECL is the Financial Accounting Standards Board’s (FASB) new(er) accounting standard that is going to change how financial institutions account for expected credit losses. The current expected credit loss model requires much preparation and planning, especially by community banks.  Previously, companies would calculate their bad debt reserved based on years past.  The FASB’s update now mandates that companies include forward-looking, or predictive, information into calculations of bad debt.

Attend this webinar to learn more about timelines, planning, and reimagining your scope to forward-looking data, clustered assets by risk profiles and consistent reporting for losses with enhanced monitoring and revalidation.

People who should attend: Finance, Enterprise Risk, Compliance, Internal Audit, Senior Management, Accounting

Presenter: Elizabeth K. Madlem, JD, Vice President of Compliance Operations and Deputy General Counsel

Elizabeth is the Vice President of Compliance Operations and Deputy General Counsel at Compliance Alliance. In the past, she served as both the Operations Compliance Manager and Enterprise Risk Manager for Washington Federal Bank, a $16 billion dollar organization headquartered in Seattle, WA. She has industry expertise and real-world solutions surrounding bank-enterprise initiatives and knowledge of contract law and bank regulatory compliance. An attorney since 2010, Elizabeth was a Summa Cum Laude, Phi Beta Kappa, Delta Epsilon Sigma graduate of Saint Michael’s College in Burlington, VT, and a Juris Doctor from Valparaiso University School of Law in Indiana.

As the Vice President of Compliance Operations, Elizabeth will be overseeing C/A’s day-to-day operations of the Hotline, as well as leading our Education initiatives. Elizabeth plays an important part in all operational areas of C/A.