Press

Sageworks hosts round table discussion on final CECL standard & releases prep kit

RALEIGH, NC (June 16, 2016) — Now that the FASB’s final standard for Current Expected Credit Losses (CECL) has been released, Sageworks, a financial information company that provides loan portfolio and risk management solutions to banks and credit unions, announced a round table discussion with industry professionals on what the final standard means for financial institutions. The round table includes panelists Todd Sprang from CliftonLarsonAllen and Graham Dyer with Grant Thornton. Tim McPeak, executive risk management consultant with Sageworks, will moderate.

Registrations are now open for this complimentary webinar that will be held on Thursday, July 7th at 2:00 p.m. (ET). To register for The Final CECL Standard round table, visit web.sageworks.com/cecl/.

Join this webinar to learn what the final standard will require and the steps your institution should consider taking for a smooth transition to compliance. For many institutions, implementation will be required in 2020 or 2021, but it is imperative to be preparing now.

Industry professionals will discuss:
• What the standard means for the ALLL calculation
• How CECL may impact institutions
• What bankers must do to comply
• Next steps for your institution

This complimentary webinar is intended for presidents, CEOs, CFOs, CCOs, CROs, VPs of Finance and those involved in the ALLL and portfolio risk management.

Additionally, Sageworks has gathered many of the preparatory documents that have been released to-date and made them available as part of a Prep Kit for institutions. Access the Kit here: http://web.sageworks.com/fasb-prep-kit/.

Can’t make it on July 7th? Register and receive the on-demand recording after the presentation date. CPE not offered.

Inquiries about CECL

Sageworks works with financial institutions across the country, helping to improve risk management practices such as the loan loss reserve calculation. Sageworks has a team of risk management consultants who are available to speak about the final guidance released today and the impact on financial institutions in the U.S.=

All speaking and press inquiries can be sent to research@sageworks.com.

About Sageworks

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 1,400 financial institutions that achieve an average 38% higher loan growth than peers. Visit www.sageworks.com to learn more.