2018 Model Bank Winner for Risk Management: Camden National Bank

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24 April 2018
Joan McGowan


Celent recognizes Camden National Bank as the 2018 Model Bank: Risk Management for their initiative in Preparing for CECL.

Like many banks, Camden National calculates its monthly allowance for loan and lease losses (ALLL) in complex Excel-based models. The bank recognized the process was highly inefficient and inadequate for the new Current Expected Credit Losses (CECL) accounting standard and anticipated regulatory scrutiny. Camden National implemented a web-based ALLL solution and CECL methodology that has maximized accounting efficiencies and minimized regulatory and audit risk.

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Insight details

Corporate Banking, Retail Banking
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Banking, >>Retail & Business Banking, >>Corporate Banking
Insight Format
Geographic Focus
Asia-Pacific, EMEA, LATAM, North America