It is extremely hard not to run into a Current Expected Credit Loss (CECL) article, webinar or whitepaper these days! This new FASB standard has a lot of financial institutions looking for answers and consultants anywhere they can find them, and some institutions do seem a bit overwhelmed—and rightfully so. Back in 2015, Deloitte conducted a survey of hundreds of U.S.-based banks and asked them about concerns around CECL. Concerns that made it to the top included:
At the CBA LIVE conference this week, the theme you see everywhere is to go “beyond the bank”. This made me ask the question, “What is it that we think is the “beyond” when it comes to banking?”.
So, what are your bank’s goals for improving risk management?
It is that time of the year when we all set goals to improve health or mind with the obligatory New Year’s resolutions. So why not set goals for change within our institutions, since that is where we’ll spend the vast majority of our time? What are your bank’s goals for improving risk management?