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CECL model validation services

Independent and professional CECL services

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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

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.
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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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

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