Entities must first include the new CECL disclosures in their financial statements and regulatory reports (e.g., the quarterly call report), commencing with the aforementioned effective dates. There is no separate filing requirement for CECL. The structure and granularity of an entity’s income statement and balance sheet does not to change, as the details of the […]
Operations
What Remote Sellers Should Know About South Dakota v. Wayfair, Inc.
Editor’s Note: This guest blog post comes courtesy of Gail Cole with Avalara. The U.S. Supreme Court’s decision in South Dakota v. Wayfair, Inc. is a game changer for online sellers and other businesses that sell across state lines. A state can only tax a business that has nexus, a significant connection to the state. For decades, nexus […]
Establish Formal Data Contracts Between Data Owners and Consumers
A final capability that is emerging is the establishment of formal data contracts between data owners and data consumers and integrates each of the key capabilities described in our previous blogs. A data contract is an agreement that specifies data owner accountability regarding data delivery acceptability levels, as well as the consequences and expectations for […]
Old Problem – New Context – Business to IT Translation
In today’s world of “Cloud Everything” using “Hyper Everything” we still see an old problem creating challenges. Most IT organizations are still struggling to translate business requirements into technology requirements. Cloud has allowed us to simply accelerate the process of seeing the disconnect. I had the opportunity to hear about this experience from one of […]
CECL Model Alternatives
CECL requires loss estimates to include relevant information about past events, current condition and reasonable and supportable forecasts using both internal and external information, including a range of qualitative and quantitative factors. Estimates of expected credit losses must consider information related to the borrower’s creditworthiness, the issuer’s underwriting practices, and the current and forecasted direction […]
Visibility and Value in the Healthcare Performance
Healthcare practitioners must untangle the complex relationship of data analytics in order to provide a proper value for patients. Visibility To ensure that patients receive the best care possible, healthcare teams must continuously monitor the performance of the healthcare facility and the daily operations. With open visibility, practitioners establish a sense of trust and with […]
The New CECL Accounting Standard
CECL, or current expected credit loss, is a new accounting standard that will change how financial institutions account for expected credit losses. Complying with the new CECL standard will have a major impact on an institutions’ operations, accounting/finance, IT, credit, and risk processes and systems. Under current US GAAP (generally accepted accounting principles), an “incurred […]
Driving Better Decisions with Data Governance
The business capabilities presented in our new guide demonstrates how forward-thinking financial services companies are leveraging data governance to create value for the enterprise. Accurate and timely information continues to be a key driver of enabling better decision making. Capabilities such as data principles and strategy, data architecture, organizational roles, authoritative sources, data lineage, data […]
Key Takeaways About Compliant IT Systems In The Cloud
This is the final post in our series on maintaining regulatory-compliant IT systems in the cloud. In this post, we’ll go over the key takeaways from the series and then we’ll send you on your way! Regardless of how much control you have over your IT systems, if you are using them for regulatory purposes, […]
Organizational DevOps – an Enterprise Contradiction
Does your business structure help or hurt your DevOps move? “Organizational DevOps” is the enterprise level action for a DevOps strategy and tactics. There is a natural struggle when moving towards DevOps, but therein is the value. First some context … Process or Project Operations management is the attempt to run things better – in the current […]
DevOps/OpsDev: The Name Debate is Over
DevOps was first introduced in 2008 as an extension of proper development, but shortly thereafter, “OpsDev” was on many of our minds. I believe the earliest mention of OpsDev was 2012 [Randy Clark in UK Business Computing World, “DevOps or OpsDev?”]. Please forgive me if you made an earlier mention! Why the Name Debate? There […]
Tips And Best Practices For Compliance In The Cloud
As we’ve learned in the previous posts in this series, having a thoughtful, thorough cloud vendor qualification process and intelligent SLAs in your cloud vendor contracts will help you maximize the value of the cloud while maintaining regulatory compliance. In addition, here are some tips and best practices to help you knock it out of […]