CECL Consulting

CECL adoption is required. Struggling to adopt isn't.

BerryDunn works with financial institutions and financial service providers to achieve a fully compliant Current Expected Credit Loss (CECL) adoption, one that is a good fit both operationally and strategically. From assessing, testing, validating, and documenting a methodology to adopting reasonable governance, controls, reporting, and model risk management practices, our experienced team provides practical and timely guidance when and where you need it most.

Services

Our team of dedicated CECL experts works with you to produce a robust program that works for your organization and sets you up for continued CECL success.

CECL model validation, controls, and testing

CECL methodology enhancements, system selection, and project management

CECL reporting and documentation

CECL disclosure requirements

CECL training

CECL adoption support

Transitioning to CECL goes well beyond choosing model software. Our experienced team can help you balance decisions and trade-offs you’ll need to make and document as part of your CECL implementation, including support for Q factors (qualitative adjustments).

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 model validation, testing, and controls

Putting together a methodology is a major milestone—validating and testing how it works is another. Our focus is on helping you achieve and document a no-nonsense approach to model risk management.

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, disclosure, and documentation

Getting through CECL is complicated and deciding what to report, disclose, and memorialize can be overwhelming. Our experienced team can help you develop reports, disclosures, and legacy documents with your key stakeholders in mind.

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.

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. 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

Podcast

In the Know: FDIC Third Quarter 2023 Banking Profile and IT Perspective from Lindsay Francis

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

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

Download

Adopt and manage CECL with confidence

Podcast

CECL Preparation: Unfunded Commitments and Debt Securities

Podcast

CECL Preparation: Model Documentation

Podcast

CECL Preparation: Advice for Every Stage

Resource

Gain confidence in your internal control efforts

Article

CECL implementation: Segmentation ABCD's

Article

CECL adoption: The five W's of data

E-book

Creating a winning playbook: CECL accounting methodology

Article

TDR and CECL relief is extended for financial institutions

Download

CECL documentation checklist

Newsletter

Financial Institution Insights April 2024

Conferences and tradeshows

Podcasts

Seminars and events

Evolve 2024: New England Banking Summit

Videos

Tackle CECL financial statement disclosures with confidence

Testimonials

"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

Adopt and manage CECL with confidence

CECL adoption is required. Struggling to adopt isn't.

Services

CECL adoption support

CECL model validation, testing, and controls

CECL reporting, disclosure, and documentation

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