In response to the high volume of requests from our credit unions, LEVERAGE has partnered with CRF Advisors to offer a CECL (Current Expected Credit Losses) solution. This offering will provide individualized consulting to assess how CECL Methodology will affect your credit union, what platform and data sets are needed to comply with new reporting requirements, as well as ongoing support for data collection and storage, forecasting, and reports.
CECL Methodology will change loan loss reserve calculations and have implications across many aspects of day-to-day operations for credit unions. CRF Advisors will review and analyze methodologies, provide assistance with documenting requirements, ensure proper systems inputs, and monitor roles and responsibilities to ensure compliance and transparency of the implementation process throughout your organization.
Credit Union benefits from CRF Advisors include:
• Consulting and guidance to your management team throughout the design, implementation, and ongoing use of the CECL Program and Platform;
• Access to CRF Advisors’ dedicated experts for development, customization, implementation, and monitoring of the CECL Platform and Program;
• Established and approved timelines to track progress of the CECL Program with regular communication between CRF Advisors and your project team to ensure quality and accomplish project objectives;
• Customized dashboard to meet the needs of your credit union with a broad range of data fields;
• Automated reports and summaries generated to satisfy regulatory requirements.
Click on the links below to register for any of these free webinars to learn how CRF Advisors can assist your credit union: