The FASB deadline for the new Current Expected Credit Loss (CECL) accounting standard is just around the corner. Is your organization ready?
The Moody’s Analytics ImpairmentStudio solution has been specifically designed with the needs of community/regional banks, credit unions, corporates, and insurers in mind. It allows CECL users to automate and simplify the complex processes required to meet the new accounting standard. Moody’s Analytics combines its rich credit risk data, best-in-class analytics, and impairment accounting experience in this new cloud-based platform, which is celebrated for its completeness and broad CECL automation capabilities.
CECL Implementation Timeline
Mills County State Bank Selects Moody’s Analytics to Automate CECL Workflow
“We evaluated several other providers before choosing Moody’s Analytics; we were impressed not only with their solution but all the work they have done to integrate all of the different components needed to run our CECL calculations. It’s incredibly convenient to have a comprehensive solution that also incorporates loan-level models, spreading functionality, and capital-planning tools, among others.”
For the second straight year, Moody's Analytics has won the Current Expected Credit Loss (CECL) category in the Chartis RiskTech100®. It's one of seven categories we won this year to go along with a #4 overall ranking.
In response to COVID-19 and our clients' needs, we have developed a fast and simple adjustment framework for institutions to use in their incurred loss or CECL calculations. We have enhanced our CECL solution to include forward-looking economic scenarios that capture the potential macroeconomic impact of this crisis.
Moody's Analytics to Power Raymond James' CECL Calculations
“After interviewing a half-dozen providers, we chose Moody’s Analytics to collaborate with us on CECL because of their data-driven approach to this new requirement for our clients. Their willingness to listen to our needs and desire to serve our clients, and to move outside their normal framework to accommodate our whole-loan-trading platform set them apart – as did their team of professionals who will make the process of gathering the necessary information as painless as possible.”
John Toohig, Head of Whole Loan Trading Raymond James
Anna manages the Risk and Accounting Solution team for the Americas. Her team is responsible for structuring solutions for risk analytics and accounting, with an emphasis on CECL/IFRS 9 and capital planning.
Emil manages the Customer Success team for the ImpairmentStudio™ solution. His team partners with customers to help implement CECL and provides ongoing support to ensure a successful transition to CECL.
Eric manages the overall business of the ImpairmentStudio™ solution. His team is responsible for developing the ImpairmentStudio solution as well as on-boarding customers onto the platform.
Masha is responsible for CECL/IFRS 9 accounting thought leadership and ImpairmentStudio™ business architecture. She has 16 years of experience in the financial industry.
Learn More About ImpairmentStudio
Data center to centralize and reconcile data from multiple sources
Scenario librarythat provides easy access to Moody's Analytics and custom macroeconomics scenarios
Model inventory housing Moody's Analytics and client-owned credit risk and allowance models
Powerful CECL calculation engine that supports a range of methodologies
Built-in analysis tools and management overlaysfor meaningful and efficient decision making
Speak to a CECL expert today.
Overview of Our CECL Capabilities
Assess, enhance, and implement an allowance estimation framework suited to your needs. Our advisory and implementation teams help clients navigate the path to CECL compliance.
Develop, improve, and validate forward-looking expected credit loss (ELS) models, credit risk models, benchmark internal data, or supplement data limitations with our award-winning data. We offer credit, economic, and financial data sets.
Address your unique portfolio composition with our best-in-class modeling methodologies. We help clients assess, manage, and validate models for CECL requirements and consistency with industry standards.