2018 Model Bank Winner for Risk Management: Camden National Bank
Create a vendor selection project
Click to express your interest in this report
Indication of coverage against your requirements
A subscription is required to activate this feature. Contact us for more info.
Celent have reviewed this profile and believe it to be accurate.
We are waiting for the vendor to publish their solution profile. Contact us or request the RFX.
24 April 2018
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.