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CECL model validation services

Independent and professional CECL services

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overview services professionals industries featured content testimonials

CECL model validation services scaled to your size

When it comes to CECL model validation, one-size-fits-all solutions are not the answer. Because not every institution is the same, finding a tailored validation approach that meets your needs and delivers results that matter is tantamount to success. Our team delivers deep industry knowledge, expertise, and an understanding that your situation is unique. We can create a service scaled to your size and complexity: everything you need, and nothing you don’t. 

Services

Objective, comprehensive CECL model validation services that deliver results and peace of mind.

CECL model documentation and results
CECL model risk management
CECL model implementation and controls

CECL model documentation and results

For institutions that can’t easily perform an independent validation or need insight from an objective third party, we can provide you with a formal review of data, key inputs, assumptions, limitations, and risks.

CECL model documentation
We review your model documentation and provide feedback on methodology elections and choices, assumptions, limitations, inputs, and ACL policy.
CECL model results
We evaluate and test your CECL model results as of a recent quarter-end measurement date and provide perspective on qualitative adjustments of forecasts and reversion.

CECL model risk management

We help clients understand best practices for ongoing model testing and sensitivity analysis and develop a reasonable model risk management framework that aligns with regulator expectations.

CECL model risk management
policy
Our policy review is designed to test your bank's CECL model for alignment with your institution’s model risk management policy, procedures, and model risk rating.
CECL model performance and governance
Our team recommends workable testing and monitoring activities to achieve your governance objectives and evaluates model reporting.

CECL model implementation and controls

Our CECL consulting team can conduct a review of your CECL model procedures, system and change controls, model access and archives, and SOX/FDICIA controls to help you prepare to succeed and meet requirements.

Control mapping
Whether you are running out of steam, running out of time, or new to SOX and FDICIA requirements, our team can help you make sense of what’s required and reasonable for your methodology and processes.
SOC 1 reporting
We provide a comprehensive assessment that prepares you to demonstrate the effectiveness of your financial reporting controls.
Ongoing model risk management
We can assess the reasonableness and effectiveness of model risk management activities 12 months after the initial model validation project, including model changes and management actions.

Benefits of CECL consulting services with BerryDunn

We understand that no two implementations are the same. 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. Our team provides you with the confidence to implement and manage CECL requirements, and the experience to help you succeed.

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Meet our professionals

Susan Weber
Senior Manager
Robert Smalley
Principal
View all professionals

Industries we serve

Industry
Financial Institutions

Featured content

featured news + insights events success stories
Video
Tackle CECL financial statement disclosures with confidence
Resource
Benchmark your insitution's performance: CECL allowance analysis
Resource
CECL model validation guidance
Resource
CECL disclosure examples: Tackle financial statement requirements with confidence
Podcast
CECL Model Validation
Podcast
In the Spotlight: A Partner to Banks and Colleagues with Susan Weber
Event
BerryDunn and Stifel: New England Banking Seminar
Podcast
CECL Preparation: Model Documentation
Podcast
CECL Preparation: Advice for Every Stage
Podcast
CECL Preparation: Elimination of TDRs and New Loan Modification Disclosures
Podcast
CECL Preparation: Governance and Controls
Podcast
CECL Preparation: Unfunded Commitments and Debt Securities
Podcast
Crossing the CECL Finish Line: What Comes Next?

Articles

CECL: Trends and post-adoption opportunities
Providing CECL information to your board: Best practices
CECL: Are you relying on your vendor too much?
CECL adoption: Allowance analysis and where we are now
Are CECL model validations required? And other burning CECL questions.
CECL and nonprofits: Common questions answered
Building the whole picture: CECL model documentation
Independent CECL model validation—Are you getting what you need? 
CECL's main provisions—what they mean to you
The journey on the road to CECL begins with one step
CECL documentation: Your methodology blueprint
Resolve to consider internal CECL controls
CECL isn't just for banks: Are you ready?
Implementing CECL: Kicking and screaming

Podcasts

In the Know: FDIC First Quarter 2023 Banking Profile
August 3, 2023
CECL Model Validation
June 14, 2023
CECL Internal Controls
March 1, 2023
Climate Scenario Analysis Exercise and Your Bank's Portfolio
February 22, 2023
In the Spotlight: A Partner to Banks and Colleagues with Susan Weber
January 18, 2023
In the Know: CECL Model Risk Management and Economic Perspective
November 1, 2022
CECL Preparation: Elimination of TDRs and New Loan Modification Disclosures
September 9, 2022
Crossing the CECL Finish Line: What Comes Next?
September 9, 2022
CECL Preparation: Vendor Models, SOC 1 and SOC 2 Reports
August 31, 2022
CECL Preparation: Advice for Every Stage
June 8, 2022
CECL Preparation: Model Documentation
June 8, 2022
CECL Preparation: Unfunded Commitments and Debt Securities
June 8, 2022
CECL Preparation: Governance and Controls
June 8, 2022

Resources

EVOLVE - 2024 New England Banking Summit - Resources
May 30, 2024
Benchmark your insitution's performance: CECL allowance analysis
October 25, 2023
CECL model validation guidance
October 3, 2023
CECL disclosure examples: Tackle financial statement requirements with confidence
September 6, 2023
CECL documentation checklist
April 25, 2022
SOC report review checklists
April 11, 2022

Conferences and tradeshows

Podcasts

Videos

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
"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 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
"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

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