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CECL consulting

Adopt and manage CECL with confidence

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

BerryDunn works with financial institutions and financial service providers to achieve a fully compliant 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 implementation support
Testing, validation, and controls
Reporting, disclosure, and documentation

CECL implementation 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.

Methodology
We help institutions assess their options, and their methodology as a whole.
Model risk, governance, and controls
We help you identify, address, and document model risk, and develop a sustainable governance and control framework.

Testing, validation, and controls

Putting together a methodology is a major milestone—being assured that it will work under a variety of conditions is another. Our focus is on helping you design and implement 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.

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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