CECL Consulting

CECL is required. Struggling to manage it isn't.

We’re passionate about helping financial institutions balance compliance with Current Expected Credit Loss (CECL) requirements with reasonable, sound model risk management practices. From model validation and testing to monitoring performance, enhancing methodology, selecting or changing vendors, and managing change, our experienced team is committed to helping you achieve your CECL goals.

Services

Our team of dedicated CECL consultants works with you to solve your specific CECL challenges and set you and your institution up for continued success.

CECL model validation, controls, and testing

CECL method enhancements, system selection, and project management

CECL reporting and documentation

CECL disclosure requirements

CECL training

CECL model validation, controls, and testing

From independent validation to effective and realistic performance monitoring, testing, and controls, our focus is on helping you achieve and document a no-nonsense approach to model risk management.

CECL model validation

For institutions wanting robust validation and insights from an experienced objective third party, our CECL model validation services deliver more than check-the-box results.

CECL testing and performance monitoring and testing

We help clients develop, document, and implement a reasonable model risk management framework for on-going model performance monitoring and testing.

CECL internal controls

Whether you are new to FDICIA/SOX requirements or need a fresh perspective and approach, our team of experts helps you make sense of what internal controls are necessary and reasonable for your methodology and processes.

CECL method enhancement, system selection, and project management

Post-adoption changes are inevitable. Whether you’re fine-tuning aspects of your methodology, overhauling your approach to qualitative adjustments, considering a new model, evaluating model vendors, or changing model providers, we can help you evolve your approach to CECL with ease.

Method enhancement

We help institutions assess their methodology, identify gaps, and evaluate changes, including support for qualitative adjustments.

System selection and transition

For institutions wanting to change model vendors, or who may have outgrown their Excel-based models, our team has the knowledge and experience to help you assess options and manage the transition.

Project management

For institutions short on staff and time, our experienced team can step in to keep your CECL projects on schedule.

CECL reporting and documentation

CECL is complicated, and deciding what to report, disclose, and memorialize can be overwhelming. Our team is experienced in developing key reports and creating policy and legacy documents.

Board reporting and oversight

Using knowledge and best practices from firsthand experience, we help you create effective reporting, education, and policy designed to strengthen executive and board oversight of CECL.

Documentation

We provide detailed guidance on creating and maintaining a legacy model document that can be leveraged to communicate key aspects of your implementation, revision history, and model details.

CECL disclosure requirements

ASU 2016-13, commonly known as the CECL standard, overhauled financial statement disclosures, requiring financial institutions to gather and disclose information previously not disclosed. We help you understand the required CECL disclosures and offer samples and guidance for reasonable and transparent financial disclosures.

CECL training

Whether you need to train new or replacement staff, develop internal CECL audit expertise, or would like someone else to explain CECL to the next generation, we can customize CECL education and training to meet your needs.

Benefits of CECL consulting services with BerryDunn

We understand that no two CECL implementations are the same because we have seen it firsthand. We can put our deep industry matter expertise to work for you. We customize the level of CECL service and support based on what’s right for you—and your institution.

CECL experience

Our team features former banking professionals, giving us extra insight into CECL requirements and strategies to meet those requirements.

Industry expertise

Using our industry knowledge, we bring clarity to the complex challenges and opportunities facing financial institutions to help you make better-informed financial decisions.

Customized solutions

We analyze the specifics of your operations and recommend proven solutions to meet your unique goals, needs, and preferences.

High-touch service

Our team brings specialized regulatory and financial accounting knowledge to our clients with a personal touch.

Continuous support

We focus on fostering strong client relationships and are responsive to your evolving needs.

How BerryDunn can help

Gain traction with our Financial Services Practice Group, leveraging the resources of the largest assurance, tax, and consulting firm headquartered in New England. We give you the confidence to prepare for CECL, and the experience to help you succeed.

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Meet our professionals

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Industries we serve

Industry

Financial Institutions

Featured content

featured news + insights events success stories

Resource

CECL disclosure examples: Tackle financial statement requirements with confidence

Video

Tackle CECL financial statement disclosures with confidence

Resource

Benchmark your insitution's performance: CECL allowance analysis

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CECL model validation guidance

Podcast

CECL Model Validation

Event

BerryDunn and Stifel: New England Banking Seminar

Podcast

Crossing the CECL Finish Line: What Comes Next?

Podcast

CECL Preparation: Elimination of TDRs and New Loan Modification Disclosures

Download

Understand the expectations of auditors and regulators: CECL model documentation

Podcast

CECL Preparation: Governance and Controls

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Adopt and manage CECL with confidence

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Gain confidence in your internal control efforts

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CECL implementation: Segmentation ABCD's

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CECL adoption: The five W's of data

E-book

Creating a winning playbook: CECL accounting methodology

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TDR and CECL relief is extended for financial institutions

Download

CECL documentation checklist

Newsletter

Financial Institution Insights October 2024

Conferences and tradeshows

Podcasts

Seminars and events

Evolve 2024: New England Banking Summit

Videos

Tackle CECL financial statement disclosures with confidence

Testimonials

"I am extremely pleased that BerryDunn was recommended to us for our CECL model validation. Engaging BerryDunn was one of the best decisions we made. The value we received extended well beyond the validation work itself; their insightful discussions and consultations have left us feeling exceptionally well-positioned. I would enthusiastically engage BerryDunn again and wholeheartedly recommend them to others. I have praised their exemplary performance to our CEO and am deeply grateful for their exceptional service."

Stefan Chkautovich

Executive Vice President and Chief Financial Officer

Southern Bank

"Our bank engaged BerryDunn to validate our Current Expected Credit Loss ("CECL") model and perform consultative services. They reviewed our CECL calculation, model documentation, model governance, policies, and procedures. Their services involved a holistic review of our methodology. Their expertise surrounding the CECL standard, and the financial services industry was remarkable. Throughout the engagement, they were extremely responsive and offered great insight. They have been a huge asset to our Bank as we prepare for CECL adoption. We would love to work with them again in the future!"

Diana Taxiera

Vice President and Controller

BayCoast Bank

"BerryDunn's professional and knowledgeable team provided us with valuable advice and actionable insights to ensure a successful implementation. Engaging BerryDunn provided our team with a sense of assurance during this period of change. The team was very responsive and always available to answer any questions we had. We really enjoy working with BerryDunn!"

Jonathan Carlson

Vice President and Controller

Northern Bank

"Our work with BerryDunn tangibly increased our comfort and confidence in our CECL model and put our team in a better position to manage our model moving forward. There are times when we need to rely on competent outside professionals to provide subject matter expertise, and a wider perspective. That is what we needed with our CECL project and that is exactly what we received. I would not hesitate to reach out to Susan and BerryDunn the next time we find ourselves in need of subject matter expertise."

Dan Stannard

Executive Vice President and Senior Lending Officer

Woodsville Guaranty Savings Bank

"We engaged BerryDunn to validate our CECL model using nCino's solution. They provided a wealth of knowledge and support during our engagement. We were able to go live with the new standard feeling much more prepared and confident in our calculation, policies, and documentation."

Stacey Ramirez, CPA

Controller

Community Resource Credit Union

Evolve and manage CECL with confidence

CECL is required. Struggling to manage it isn't.

Services

CECL model validation, controls, and testing

CECL method enhancement, system selection, and project management

CECL reporting and documentation

CECL disclosure requirements

CECL training

Benefits of CECL consulting services with BerryDunn

How BerryDunn can help

Meet our professionals

Industries we serve

Featured content

Articles

Podcasts

Press Releases

Resources

Conferences and tradeshows

Podcasts

Seminars and events

Videos

Testimonials

Contact us