CECL: The Hidden Complexities to Simple Approaches For Credit Unions
Presenter: Jared Mills
In this 45 minute webinar, Jared Mills of the Sageworks Advisory Group will discuss the hidden complexities when simple, expedient approaches for measurement under the CECL accounting standard are applied to credit union loan portfolios. Having worked at a credit union before as an Assistant Director of Accounting, he will discuss the impact, control and structural complexities that he knows are relevant to the industry.
join to learn about:
- How to make methodological and segmentation choices without investing any time in loan-level data gathering, software, or model development
- The complex data problems associated with the application of specific loss rate approaches
- The FASB-approved way to estimate and justify allocation, even with data concerns, without resorting heavily to qualitative adjustment
About the Presenter
Jared Mills, Advisory Services
Jared works with the Advisory team at Sageworks where he provides client services and assists with strategic direction and feedback for product development with specialization in ALLL, CECL preparation and various other portfolio analytics. Before joining Sageworks, he was the Assistant Director of Accounting at South Carolina State FCU and played a key role in the institution’s ALLL process and CECL transition team. Prior to that, Jared was a Financial Reporting Analyst at First Citizens Bank, where he worked on FDIC Assisted Acquisition accounting, financial reporting and analysis. Jared has a Master’s degree in Accountancy from the College of Charleston and a BSBA with an emphasis in Accounting from Charleston Southern University.