CREDIT AUTOMATION & CECL READINESS SERVICES
The CECL and Credit Technology professionals at Ardmore Banking Advisors are experts at working with your financial institution to evaluate the gathering, storage, and use of your credit data, compare them to industry best practices to identify deficiencies, and provide you with an action plan to address and mitigate them.
From there, Ardmore can identify many of the processes and procedures slowed by manual input and extraction from Excel spreadsheets, like concentration analysis, reporting ALLL/CECL calculation /methodology and stress testing, and automate them to free up dedicated staff and labor hours and eliminate costly manual errors.
CREDIT DATA ASSESSMENT
For community banks, the game is changing, driven by regulatory demands for more data, reporting, disclosures and statistical modeling.
The new CECL guidelines for ALLL, expectations around Stress Testing and Capital Planning and a new focus on Concentration Management for community banks all require more loan portfolio data with faster turnaround. Spreadsheets and manual calculations will no longer meet your Bank's needs.
Ardmore's community bank data experts can help your bank proactively prepare for heightened regulatory expectations by ensuring that your current credit data management capabilities are sufficient to address data needs for CECL and other reporting and analytical needs. When the time comes for increased regulatory scrutiny, your bank will be ready.
Ardmore's Credit Data Assessment is a proven review of your institution's current Credit/Risk Portfolio Data Management procedure and tools. Beginning with a Gap Analysis of your current credit data management process, which includes data collection, accessibility and integrity, we compare your processes to Industry Best Practices and craft a customized action plan to reveal and address deficiencies. We also offer guidance on your institution's data needs with respect to eventual CECL and Dodd Frank Act Stress Testing (DFAST) needs.
For more information on our Credit Data Assessment, please contact us today.
“Ardmore’s Credit Data Assessment service was extremely valuable to Brookline Bancorp – as it helped us quickly identify strategic and tactical actions we could take to be better prepared for CECL and stress testing initiatives. The process was quick, virtually painless, and the results were actionable. Ardmore has a depth of knowledge of credit data and related processes that is unique in the industry. All banks will find value in using this important service, especially now with CECL and other regulatory initiatives on the horizon.”
Bob Rose - Chief Credit Officer, Brookline Bancorp Inc.
“Ardmore’s credit data assessment service helped us evaluate the state of our credit data process and readiness for regulatory expectations. Since implementing Ardmore’s recommendations, we have seen improved loan credit coding accuracy and broader internal adoption of an understanding of the significance of data integrity. This proactive process was also important to undergo to evaluate the necessary data to support expanded loan concentrations stress testing and to be prepared for the upcoming CECL requirements.”
-John Landes, Executive Vice President, Univest Bank
ARGUS CREDIT PORTFOLIO MANAGEMENT (CPM) SUITE
Ardmore is proud to partner with Argus, a Verisk Analytics Business, to bring its Credit Portfolio Management (CPM) solution set to banks across America. The suite is a securely-hosted integrated - yet modular - solution for credit portfolio data management. The suite includes modules for ALLL (CECL-compliant), stress testing and portfolio reporting & analytics, leveraging a comprehensive central data mart to get the most value out of your credit data.
As shown in the chart above, the platform accepts the import of multiple data files from different sources into one central historical credit data mart, which becomes one source of the truth for credit data. The suite includes a state-of-the-art ALLL automation solution to measure, monitor and manage your ALLL today while helping you prepare for the complex CECL calculations of tomorrow.
Ardmore Banking Advisors performs a number of roles as the strategic partner in support of the Argus software. These include:
Assisting in the design and functionality of Argus's credit portfolio management software suite (CECL-Ready ALLL, Stress Testing and Analytic Reporting solutions) with a focus on the needs of smaller financial institutions
Performing Credit Data Gap Assessments: Leveraging 25 years of community bank credit process & extensive data knowledge of bank credit data and systems. Expert in ALLL and ALLL automation, and CECL methodologies
Ensuring that the CPM system works with your data and within your institution’s credit culture
Giving you direct access to real credit-based system support, with ALLL experience and credit data expertise
Argus delivers more than a software package; it also offers a credit-driven approach and real credit consulting from Ardmore to ensure that the solution works with your data and creates meaningful results that your institution can really use. Our Credit Best Practices and Credit Automation experts ensure that your institution gets real value out of the software, and that it becomes a part of the credit management fabric of your institution. To learn more about how Ardmore and Argus can help you, please contact us.