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CE Credits: 1.25 CRCM
Contact: [email protected] for a certificate
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: Daniel J. Baker, Compliance Officer
Daniel Baker serves C/A as a Compliance Officer. He attended Michigan State University College of Law. During law school, he worked in a variety of compliance and legal positions for software companies, and Allpine Title. He also holds a Bachelor of Science in Business Management from Utah Valley University.
Most recently, he worked for a local law firm based in Temple, TX. Before law school, Daniel worked in various jobs within the financial sector, including a supervisor role at TCF Bank and as a Private Client Banker for JPMorgan Chase Bank. In addition to his professional career, He’s developed and conducted hundreds of seminars and educational classes based on financial independence, as well as a host of other topics.