Please join our distinguished panel as we explore the following topics related to FASB’s Current Expected Credit Loss (CECL) standard:
- Impact on loan origination standards
- Key challenges and "pain points" for implementation
- Sufficiency of DFAST/CCAR models
- Relevance to and impact on risk managers
Desta Gebre-Medhin-Huff, Managing Director, Head of Reserve Methodology Analytics (RMA) SF, CA, MUFG Union Bank, N.A.
Desta manages a team of professionals responsible for Allowance for Credit Losses (ACL) operations, products, technology and data management, related risk & control functions and quarterly budget forecasts for MUFG Americas Holdings Corporation including MUFG Union Bank Subsidiaries, New York branch, and other MUFG Americas' entities. She and her team work closely with the bank's credit risk management, lines of business and the bank's executive management teams to determine the MUFG's credit cost. Desta has been with the bank since 1990 and has extensive background in Commercial / Corporate Lending, Credit Risk Management & Modeling and reserving methodologies. She is currently working on implementing Current Expected Credit Losses (CECL), the new credit loss accounting standard (model) that was issued by the Financial Accounting Standards Board (FASB) on June 16 for the bank's subsidiaries.
James H. Gellert, Chairman and CEO, RapidRatings
James H. Gellert is a career-long entrepreneur and financial markets professional, having held operational and management roles at global commercial and investment banks and having been CEO of a number of privately held companies. For his entire career, Mr. Gellert has been involved in corporate risk, liability management, capital raising and ratings, including his current role at RapidRatings. He led the team that acquired RapidRatings, and his years of leadership experience and vision have helped bring RapidRatings from startup to the forefront of financial health analytics.
Outside of his professional career, Mr. Gellert has established himself as a recognized international authority on independent research, risk management, supply chain risk and rating agency regulatory evolution. He has testified to both the Senate and House of Representatives on multiple occasions as an expert witness and is a recurrent speaker at the SEC and in global media and is a frequent speaker at global conferences and industry events. Mr. Gellert received the Supply & Demand Chain Executive Pros to Know Award in 2017 and 2019.
Mr. Gellert serves on a variety of corporate, advisory and non-profit boards. He serves as President of the National Board of Young Audiences Arts for Learning, the oldest arts-in-education non-profit in the US, serving over 5 million children annually.
Michael Shearer, Managing Director and Co-Leader of Credit Risk Management Group, PwC
Mike co-leads the Credit Risk Management team within PwC's Financial Services Advisory practice, and is currently co-leading PwC's CECL initiative. Mike has assisted many of the world's leading financial institutions address a broad range of credit risk management issues. He is one of the firm's leading subject matter specialists in ALLL methodologies and processes, and in credit loss forecast modeling for ALLL, stress testing and capital. His experience covers commercial, commercial real estate, mortgage, HELOC, auto, and credit card portfolios. Models have ranged from top-down loss models to more granular roll-rate or loan level models for consumer/mortgage and PD-based or transition matrix based models for commercial/commercial real estate portfolios, and have included both proprietary model development as well as various vendor models. Mike is also a member of AICPA’s global IFRS 9 working group, providing perspectives on interpretation, modeling and methodology design.
William Swint, Managing Director, Head of Wholesale Reserves and Wholesale CCAR, Citigroup
Will manages a team of professionals that provide proactive oversight over Citigroup's Institutional Clients Group cost of credit process to deliver timely and best-in-class outcomes and meet accounting, regulatory and supervisory expectations / guidance. Additionally, Will's team oversees CCAR Wholesale Credit loss calculations, procedures and controls and the integration of IFRS 9/CECL accounting standards in the Cost of Credit process. Will's role as CCAR Wholesale Lead is responsible for all quarterly and annual workstream submissions. Will has been with the Citi since 2012 and has extensive background in Commercial / Corporate Lending, Loan Restructuring, CCAR/DFAST Management & Modeling and reserving methodologies. Will is currently the Wholesale lead on implementing Current Expected Credit Losses (CECL).
Brian S. Strauss, Executive Director and Senior Credit Officer, Natixis North America LLC, and RMA NY Chapter Chairman
Brian S. Strauss is an Executive Director and Senior Credit Officer at Natixis North America LLC, where he and his team have responsibility for managing the firm's credit risk to Financial Institutions and Structured Credit counterparties. Brian also serves as Chairman of the Risk Management Association - New York Chapter (RMA NY) and he is a former Chairman of the Capital Markets Credit Analysts Society (CMCAS). Before joining Natixis, Brian worked for several years as a consultant at PricewaterhouseCoopers and then eDelta Consulting, advising financial institutions on risk management, regulatory and compliance-related matters.
Prior to joining PwC, Brian served as Managing Director and Chief Risk Officer of KCG Americas LLC, as well as Deputy CRO of KCG Holdings, Inc. Brian previously served as CRO of Knight Capital Group, a predecessor firm, where he had global responsibility for credit, market and operational risk management. Before being promoted to this newly-created role in September, 2012, Brian had served as Chief Credit Officer of the firm.
Brian was previously a Managing Director and Senior Credit Officer at UBS Americas Inc., where he served as Co-Head of Hedge Fund Credit in the Americas. While at UBS, Brian was the primary risk liaison to the domestic and international equities businesses and the exchange-traded derivatives businesses globally. Prior to joining UBS, Brian was employed by Bank One N.A. as a Managing Director and Capital Markets Credit Officer, where his responsibilities included managing the bank's exposure to hedge funds, securities firms and money managers, and overseeing the ISDA documentation group.
Brian received a B.Sc. in finance from Georgetown University and an M.B.A. in finance from the Leonard N. Stern School of Business at New York University.