As most institutions have begun to plan their transition to CECL, a number of them are discovering first-hand the additional emphasis on data. Reporting under CECL is going to require banks to encompass not just more data fields, but encompass more historical data to account for the life of a loan. Because of this significant shift in data utilization some data pitfalls are becoming more and more prevalent. Some of these pitfalls include:
- Consolidating data from disaggregated sources
- Maintaining statistical relevance within pooling structures
- Updating risk factors
- Lack of historical loan level data
- Lack of loss data
Zach Langley | Data Analyst | MST Advisory Services
As an analyst for MST’s advisory department, Zach Langley has assisted institutions of varying sizes overcome their data issues to get them back on track to CECL-compliance. His experience with clients and collaboration with some of the best minds in the industry have provided him unique insight that could prove to be beneficial to institutions when assessing their data needs and roadblocks.
Zach Englert | Business Analyst | MST Advisory Services
In his role as a Business Analyst at MST, Zach has assisted many financial institutions in the implementation of CECL as a member of the MST Advisory Services team. Zach has performed and assisted in the data analytics, CECL model creation, and the portfolio segmentation of a variety of financial institutions utilizing industry data and the ASU 2016-13.