Episode 062 | Managing Risk and Navigating Challenges for Financial Institutions

We’re continuing our Industry Podcast Series with a dive into the current opportunities and challenges specific to financial institutions. The Current Expected Credit Loss (CECL) Accounting Standard ushered in a new era for financial institutions that they are still grappling with, but the industry’s recent focus has shifted towards discussions about liquidity after the failures of Silicon Valley Bank and others. 

Join our financial industry experts Jeff Burleson, CPA, and Josh Bowen, CPA, CGMA, CAMS, CITP, as they discuss the evolving landscape for financial institutions and the continued influence of CECL, as well as strategies for driving stability, growth and adaptability in the face of change.  

Special Guest: Justin Headley, CISSP, CISA, CDPSE, CRISC, member of the firm’s Risk Advisory & Assurance Services Group

In this episode, you’ll hear: 

• Discussion surrounding CECL and its implementation
• How the 2023 failures of Silicon Valley Bank and Signature Bank led to shifts in liquidity management
• Information about how economic uncertainty has led to the tightening of lending practices
• The importance of third-party risk management within a financial institution’s cybersecurity policy
• Strategies to help financial institutions manage staffing levels 

Resources for additional information:

• Blog: Don’t Turn Your Back on CECL
• Blog: Current Expected Credit Loss (CECL) Standard Update: Best Practices for Implementation
• Blog: What is Enterprise Risk Management?
• Blog: The Biggest Cyber Risks for Your Company and How to Manage Them
• Previous Podcast Episode: Employee Retention and Recruiting in Today’s Competitive Environment
• Event Invitations: Subscribe to receive invitations to future Bank and Credit Union Roundtables.