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A Framework for Multiple Economic Scenarios Under CECL

BY ROBERT CHANG AND MARK JORDAN, FI CONSULTING Background We present a pragmatic approach to generating multiple economic scenarios for the new FASB current expected credit loss (CECL) accounting standard. While the guidance does not explicitly mention the number of scenarios that should be used when measuring expected credit losses, financial institutions should consider a......

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Four Key Questions When Estimating Current Expected Credit Losses (CECL)

BY ROBERT CHANG AND MARK JORDAN, FI CONSULTING Under the FASB current expected credit loss (CECL) accounting standard, public entities are required to estimate losses over the contractual term of the financial asset or group of financial assets. However, this requirement is eased to allow entities to make or obtain “reasonable and supportable” forecasts of......

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Banks with Ontology and Knowledge Graph Capabilities well-positioned to meet…

FI Consulting’s Mark Jordan co-authored a blog with Element 22 discussing the importance of data governance and accessibility. Recent surveys find that many institutions are still in the planning stage for CECL, and that obtaining data necessary to support model development is among their most pressing tasks. In the recent past certain banks have met......

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Take An Integrated View of Mission, Cost, and Risk in…

BY JOSH MEIKRANTZ, FI CONSULTING Introduction Federal credit agencies expend resources—in the form of costs and risk— in order to achieve policy missions. While agencies measure program credit costs and performance against mission, typically these efforts are undertaken independently and risk is not considered at all. Government credit agencies should assess costs, mission, and risk......

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Webinar: Building a Model UI with R, Spark, and AWS

Rescheduled: Due to unforeseen circumstances, this webinar will be postponed until Tuesday, January 23, 2018 at 12 p.m. (ET) In many organizations, models are run from someone’s desktop, key assumptions are hard-coded, and sensitivity to the inputs is not always clear to users of the model. Using R, Spark, and AWS, we’ll demonstrate how you......

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Webinar: Demystifying Complex Models Using Open-Source Software and the Cloud

Rescheduled: Due to unforeseen circumstances, this webinar will be postponed until Tuesday, January 23, 2018 at 12 p.m. (ET) In many organizations, models are run from someone’s desktop, key assumptions are hard-coded, and sensitivity to the inputs is not always clear to users of the model. Using open source statistical software, we will demonstrate how......

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Webinar: Successfully Transition to the New CECL Standard: Insights and…

Most U.S. financial institutions must be prepared to implement FASB’s new current expected credit loss model (CECL) by the end of 2019. As institutions plan their transition from incurred loss to CECL, they are assessing their existing data and modeling assets, consulting with their auditors and regulators, and reflecting on lessons learned from implementing CCAR......

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WEBINAR: Improper Payments: Reduce Fraud, Waste, and Abuse with the…

Since 2003, improper payments have exceeded $1 trillion in the Federal Government, and for over a decade, Congress has worked to bring those numbers down. Despite these efforts, improper payment levels have been on the rise since 2013. The Do Not Pay (DNP) initiative, aimed at curbing improper payments and preventing waste, fraud, and abuse,......

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Introducing FI Consulting’s New Tableau QuickStart Solution

FI Consulting, a leader in analytics and visualization and a certified Tableau partner, is pleased to announce our new Tableau QuickStart offering, designed to help organizations jump-start their use of Tableau Software data visualization. Our Tableau QuickStart offering is an affordable package of services to help you setup your environment, optimize data, prioritize and prepare......

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WEBINAR: Framework for Waste, Fraud, and Abuse: Predicting Fraud Through…

Criminals are constantly adapting to and testing fraud prevention systems. Business rules to identify and prevent potential fraud are incredibly difficult to formulate, and can be reverse engineered through trial and error. When you focus on reducing one type of fraud, growth of another may offset your gains. Second in a series of three webinars......

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