Sageworks Blog

Jun16

Accounting jobs tough to fill, survey says Mary Ellen Biery [email] Research Specialist

Jun 16, 2013 18:55

Accounting and finance jobs are some of the hardest to fill, according to a recent survey by ManpowerGroup. The workforce solutions company surveyed more than 1,000 employers and found that 39 percent of U.S. employers are having a tough time finding the right staff with the right skills. [More]

Jun15

Regulatory changes: Top of mind for bankers Mary Ellen Biery [email] Research Specialist

Jun 15, 2013 07:07

Spending a lot of time at your financial institution on regulatory issues? You’re not alone. A recent survey of bank executives by KPMG LLP found that regulatory issues are top of mind for many in the industry. Thirty-five percent of respondents expect bank management to spend most of its time and energy in the coming year on initiatives related to navigating big changes in the regulatory environment. [More]

Jun 14, 2013 07:40

According to the OCC, a “top down” portfolio stress testing approach applies “estimated stress loss rates under one or more scenarios to pools of loans with common risk characteristics.” It provides an aggregate view of a portfolio or portfolio segment during stress scenarios, rather than analyzing the performance of individual loans. Top down stress testing requires financial institutions to properly segment their portfolio into reasonable pools for setting loss rates and using an appropriate methodology for each of the segments. If used appropriately, top down stress testing adds additional insight to a financial institution’s risk management practices. [More]

Jun13

Credit union member business lending is growing. Why? Billy Burnet [email]

Jun 13, 2013 09:20

U.S. credit unions had strong growth last year, with membership growing at double the population growth rate and the highest earnings rate since 2005, according to the Credit Union National Association’s (CUNA) U.S. Credit Union Profile for 2012. And while traditional lending areas for the nation’s roughly 7,000 credit unions experienced solid growth, a large number of credit unions are focusing attention on either starting a member business lending program or expanding their current efforts to provide loans to member businesses. [More]

Jun12

5 Tips for business owners and CFOs Libby Bierman [email] Analyst

Jun 12, 2013 08:22

In addition to tax compliance, a business’s accountant can provide significant, additional value. To make the most of your accounting firm’s services, here are 5 recommendations for business owners, controllers and chief financial officers to take advantage of now. [More]

Jun11

What is FAS 114? Sanaa Bhambri [email] Marketing Analyst

Jun 11, 2013 10:26

A principal source of guidance on accounting for impairment in a loan portfolio under GAAP, Accounting Standards Codification Subtopic 310-10 was formerly known as the Statement of Financial Accounting Standards No. 114 (FAS 114), “Accounting by Creditors for Impairment of a Loan”. [More]

Jun10

Increased regulations cause heavy workload for many CPAs Jessica Ballard [email] Director of Marketing

Jun 10, 2013 12:52

Increasing regulatory requirements, and the many requirements already put in place, are often seen as a daily complication for accounting firms. They are not only costly and burdensome, but very complex, leaving many CPAs spending the majority of their workday on regulatory policies. With staffing shortages and technological advances, CPAs struggle to spend time on the work they enjoy or offer new services. The workload and expectations have increased over the last few years, with many companies unable to hire additional people to manage the ongoing regulations. [More]

Jun08

Three risk rating best practices Billy Burnet [email]

Jun 08, 2013 08:15

Risk ratings methodologies differ bank by bank; in fact, the OCC’s Comptroller’s Handbook on “Rating Credit Risk” notes that “No single credit risk rating system is ideal for every bank...A bank’s risk rating system should reflect the complexity of its lending activities and the overall level of risk involved.” Nevertheless, we’ve compiled a list of three risk rating best practices that are relevant across all financial institutions.
[More]

Jun 07, 2013 13:08

Though the term “stress testing” might still cause confusion, more and more examiners and bankers are beginning to accept the practice and embrace the accompanying benefits.

As more institutions implement loan portfolio stress testing, an issue that could cause problems is overarching responsibility. Who in the bank owns stress testing? [More]

Jun06

4 ‘Exceptional’ ways to improve loan administration: Tracking documentation exceptions Mary Ellen Biery [email] Research Specialist

Jun 06, 2013 15:38

Federal bank and credit union examiners say one element that should be part of any loan portfolio management process is a solid system for tracking exceptions. Here are four tips to improve portfolio loan management through better documentation exception tracking. [More]