Session Presenters
Patrick Vernon
Senior Manager, Advisory Services
Crowe LLP
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About the presenter
Presented by
Patrick Vernon
Senior Manager, Advisory Services
Crowe LLP
Patrick Vernon is a senior manager of advisory services at Crowe LLP, focusing on transaction and valuation services for financial institutions and investor groups regarding select asset acquisitions and whole bank and financial service firm acquisitions. Mr. Vernon has extensive experience with CECL implementation projects and solutions including risk assessment, model documentation and theory and technology solution evaluation. He has a background in external audit engagements with a primary focus on allowance for loan losses.
Mr. Vernon has been helping financial institutions understand and adopt CECL since 2017 and has worked with over 50 different institutions ranging in size from $500M – $50B. He has experience in modeling with all of the major vendor CECL platforms as well as various custom in-house methodologies and worked internally at Crowe to develop Credit360 for CECL, a proprietary methodology used to execute, test and validate CECL models.
Breakout 2: Embracing the Volatility Brought on by CECL
Following a second wave of the CECL adoption, two common questions continue to rise to the forefront for both initial adopters and second-wave adopters alike: How have reserves been trending given recent economic volatility and inflation concerns? How should model validation be incorporated into a robust risk management strategy? This session provides feedback on real trends observed in the industry and shares experiences as to how CECL reserves have fluctuated in recent months. Topics discussed include common pitfalls observed in the integration of a model risk management strategy and pillars of an effective plan for CECL model validation.