Issues of Interest

Tune in to the latest podcast episode of Issues of Interest from Baker Newman Noyes, where host Jordin Milano discusses the implementation and lessons learned from Current Expected Credit Loss (CECL) adoption in the banking and financial services industry. Joined by guests Mark Haberland and Chase Ogden from Darling Consulting Group, this episode delves into the importance of ongoing monitoring, the CECL control environment, and effective governance. Discover how institutions can take ownership of their models, perform sensitivity testing, and monitor model assumptions.
A note from Darling Consulting Group:
Thank you for listening to this episode of Issues of Interest to discuss the next phase of CECL for your organization.

As all eyes turn to a falling rate environment (and the next potential economic downturn), we encourage you to not lose focus on the reliability of your CECL model. Now that implementation is in the rearview mirror, CECL has the potential to fall off the radar. But can you be certain your model will still perform reliably as rates fall and credit impacts rise?

To help ensure your CECL model continues to perform as intended, DCG developed a robust CECL monitoring product, which had been missing throughout the industry until now. DCG’s ongoing monitoring can offer the confirmation that a CECL model remains fit for use through economic environment changes.

To view this new product, you are invited to watch this virtual walkthrough.

On this episode of "Issues of Interest," Nick Smetana, tax manager, joins Leanne Scott, state and local tax principal, to discuss sales and use tax matters for banks and financial institutions. Discover why these often overlooked tax types are crucial, the importance of self-assessing use tax, and the impact of recent legislative changes in states like Vermont and Maine. Tune in for insights and practical advice to navigate the ever-evolving tax landscape.

In this episode, Pat Morin speaks with Pawel Wilczynski about the current cybersecurity landscape, covering issues impacting the banking industry such as ransomware and third-party risk, as well as strategies organizations and bank leaders can use to minimize cyber risk.

For additional resources check out:

https://www.bnncpa.com/resources/cybersecurity-risks-in-the-banking-industry/

In this episode of Issues of Interest from Baker Newman Noyes, Adam Aucoin and Leanne Scott from BNN's financial institutions industry practice discuss current trends in tax planning for banks and financial institutions. Adam also covers several credits impacting the tax landscape and Leanne summarizes a few multi-state considerations for banks operating across state lines. You can see additional corresponding materials here:

In this episode of Issues of Interest, BNN tax principal Adam Aucoin speaks with Dave Fleischer, principal at Business Resource Services, about R&D credits, what banks need to consider, and how they can plan ahead and use credits to their advantage.
Banks and financial institutions are constantly navigating volatility and change. Here at Issues of Interest we help you stay current on what’s happening in the industry so you can achieve success for your institution. We cover assurance, tax, business advisory, and technology topics and trends affecting the industry. Subscribe today to receive news and developments directly in your inbox.