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 adoption support

CECL model validation, testing, and controls

CECL reporting, disclosure, and documentation

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).

Methods and Q factors

We help institutions assess their options and their methodology as a whole, identify gaps, and support qualitative adjustments.

Model risk, governance, and controls

We help you identify, address, and document model risk, and develop a sustainable governance and control framework.

Project management services

For institutions short on staff and time, let our experienced team keep your CECL adoption project on schedule.

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.

Testing and model risk

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

Model validation

For institutions that can’t easily perform an independent validation or need insight from an objective third party, our model validation service provides a formal review of data, key inputs, assumptions, limitations, and risks.

Control mapping

Whether you are running out of steam, running out of time, or new to FDICIA requirements, our team of experts can help you make sense of what’s required and reasonable for your methodology and processes.

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.

Management and board reporting

We focus on developing effective senior management and board reporting and monitoring, including change management disclosures, metrics, thresholds, and benchmarking.

Disclosure guidance

We help guide reasonable and transparent financial disclosures.

Model document

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

Video

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Adopt and manage CECL with confidence

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CECL Preparation: Unfunded Commitments and Debt Securities

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Download

CECL documentation checklist

Newsletter

Financial Institution Insights October 2023

Conferences and tradeshows

Podcasts

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

Videos

Testimonials

Contact us