The CECL Effect- How the new credit loss rule will alter financial analytics

The CECL Effect- How the new credit loss rule will alter financial analytics

The CECL Effect- How the new credit loss rule will alter financial analytics

In this week’s Data Analytics podcast, Joe Breeden of Deep Future Analytics discusses the future of loans in relation to the upcoming CECL regulations, and how to turn predictive and prescriptive analytics into actionable data.

This Data Analytics Series Podcast is sponsored by OnApproach.

 

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In This Episode:

  • Joe discusses Deep Future Analytics, and why CECL is the deep future of analytics.
  • An explanation of CECL, including how it impacts how both small and large credit union’s net loss reserves and how it will drive the replacement of current accounting standards.
  • Important points on CECL implementation.
  • How and when local, regional and national data pools are useful for peer data analysis.
  • How Deep Future Analytics uses data pools and other economic data to create predictive and prescriptive solutions through its advanced data models to create actionable data forecasts for credit unions.
  • The inherent issues with data modeling.
  • Reducing and distributing the risk in participation loans.
  • The Deep Future Analytics and OnApproach partnership.
  • The implementation of CECL in Europe.

Visit Deep Future Analytics to learn more about its validation reports and models, and its advanced predictive analytics for Credit Unions and Community Banks. You can register to download the Model Convergence whitepaper on the Web site.

URLs related to this week's BIGCast:

Upcoming Events

  • June 11-14 AXFI Conference in Minneapolis Minnesota. Join BIG and OnApproach at the premier educational event for credit unions and community bank professionals who are serious about financial innovation. Register by Dec. 31st and receive an EXTRA 10% off with code HOLIDAY16. Register now and save $200 with the early bird special. http://www.axficonference.com/.

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About BIGcast Network

Credit Union Industry Experts, John Best, Founder of Best Innovation Group (BIG), Glen Sarvady, Managing Principal at 154 Advisors and Anne Legg, Founder of THRIVE Strategic Services have teamed-up to offer a new podcast series to form the BIGcast Network. The BIGcast will become a twice weekly podcast and will be offering financial news and thought leadership in the areas of Business Strategy, Innovation, Payments and Leadership to financial institutions globally. Meet the BIGCast Network Team:

John Best is recognized as a thought leader and visionary of technology advancements and financial application development within the credit union industry. Requests for speaking engagements include Symitar national and regional conferences, Information Technologies Credit Union Association annual conference, and CUNA Technology Council, CUNA Marketing Council, CUNA lending Council Filene Water Cooler Annual Symposium and Correlation annual meeting as a keynote speaker.
Anne Legg is founder of THRIVE Strategic Services. THRIVE leads organizations to goal attainment via data translation resulting in innovative and transformational business strategies. Anne is a recognized credit union expert and thought leader with an MBA thesis on the credit union business model as well as two internationally published whitepapers on credit union business strategy. She has served as an SME for CUNA and National University and has instructed at several CUNA schools.
John Janclaes has more than thirty years of experience in the financial services industry, spanning retail banking, brokerage, and insurance. He joined Partners Federal Credit Union in June 2004 as President and Chief Executive Officer. With eleven branches located primarily in California and Florida, Partners serves employees of The Walt Disney Company, currently numbering more than 140,000 members with$1.6 billion in assets under management.

John is founder of The CEO Corner, an online forum to help business leaders and their organizations thrive (www.theceocorner.com). In recognition of John’s commitment to leadership development, proceeds from the sale of his leadership book, "Doing What Matters" will be donated to support scholarships for business leaders in training.
Glen Sarvady’s episodes of the BIGCast will focus on top-of-mind topics impacting the payments world, analysis of recent product launches, acquisitions, partnerships and innovations, and on-site reporting and interviews from industry venues like Finovate, Money 20/20 and NACHA Payments. Interviews will be brief and to-the-point, emphasizing substance and avoiding informercial territory. As with other BIGCast Network offerings credit unions receive added attention, but the discussions will be relevant and entertaining for strategic thinkers across the financial services spectrum, particularly those interested in consumer and small business experience and the real-world effects of breakthrough payment innovations.

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