Sageworks announces additional dates for CECL Transition Workshops
Raleigh, N.C., February 21, 2018— Sageworks, a financial information company that provides lending, credit risk and portfolio risk solutions to banks and credit unions, announced three new dates and locations for its 2018 CECL Transition Workshops series.
The workshops were first introduced in January 2018 to focus on helping financial institutions transition to the FASB’s current expected credit loss (CECL) accounting standard. Due to a high number of initial registrations, Sageworks added three new dates and locations for 2018 growing the schedule to include:
- Atlanta, GA: March 14
- New York, NY: April 12
- Nashville, TN: June 14
- Los Angeles, CA: July 12
- Chicago, IL: August 9
- Washington, DC: October 11
- Austin, TX: November 8
Sageworks’ CECL-ready ALLL solution uniquely gives users access to models that will be required under the expected loss standard. Attendees can expect to explore these different models for different pools through hands-on case studies during the Sageworks Practical CECL Transition Workshop, even before they are ready to implement a solution at their home institution.
“Our goal has always been to understand the effects as early as possible,” says J. Raleigh Green II, Asset Quality Officer in the Credit Administration department of Bank Independent of Sheffield, AL. “The multitude of user-defined fields and ease of pulling and manipulating data within Sageworks meant the bank was pulling the fields necessary for CECL before the standard was even finalized.”
Bank and credit union executives as well as those involved in preparing the ALLL calculation will benefit from attending the Practical CECL Transition Workshops, and registration is open to both institutions that do and those that do not use Sageworks ALLL.
Sageworks offers banks and credit unions lending, credit risk and portfolio risk software to efficiently grow and improve the borrower experience. By automating the life of the loan with Sageworks, bankers book commercial loans faster and reduce risk. Sageworks uniquely provides integrated solutions and industry expertise to more than 1,200 financial institutions that achieve an average 38% higher loan growth than peers. Visit www.sageworks.com to learn more.