Credit Loss in the Time of COVID-19: Methods to Better Prepare Your CU

June 4, 2020 | 2:00pm - 3:00pm ET

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About the Webinar

Credit unions have experienced unanticipated, rapid, and systemic shock. The initial losses are already staggering, with the full magnitude of the crisis yet-to-be determined. While new jobless claims may be leveling off, the number of people continuing to receive unemployment benefits could remain at record levels for many months to come.

Whether responding to the current crisis environment, or planning for eventual recovery and rebuilding phases, credit unions are forced to throw out and rethink all of their previous forecasts. In this webinar, we’ll discuss:

  • Evolving methods and variables for reasonable and supportable forecasting
  • New tools and resources to augment internal processes and staffing levels - with ways to quickly adapt for risk assessments and mitigation
  • Techniques and resources available to credit unions to interpret macro-economic variables into actionable intelligence on their portfolios
  • How credit unions can assess potential losses under multiple scenarios and time horizons to help appropriately manage credit risk

Watch the the Webinar On-Demand

Presented By

Joan McGowan
Joan McGowan

Principal, Global Financial Services Strategist | SAS

Joan McGowan is a leading authority on the potential of enabling technologies in the banking and payment industries. For the past 15 years, Joan has been analyzing the impact of new technologies on banks and credit unions and provides practical advice on how to innovate and create growth strategies that keep organizations relevant and financial healthy in a rapidly morphing industry. Her expertise includes digital transformation, process automation, decision management, advanced analytics, AI, cloud computing and the disciplines of risk management, regulations and compliance. 

Prior to joining SAS, Joan worked as a Senior Analyst for Celent/Oliver Wyman and as a Senior Strategist for FIS Global, Fiserv and FICO.

Joan has published over 30 reports on banking and technology and is a frequent speaker at industry conferences and client gatherings.  Her life before banking was as a journalist/editor for The Economist Group and as a Senior Research for BBC North.

Joan is a native of Leeds and a life-long supporter (and sufferer) of Leeds United.

Jonathan Leonardelli
Jonathan Leonardelli

MFM, FRM, Director of the Business Analytics | FRG

Jonathan leads the group responsible for model development, data science, and technical communication. Since joining FRG Jonathan has led multiple projects to successful completion using his leadership, modeling, and business knowledge. The projects he has worked on span regulatory areas such as: CECL, IFRS9, CCAR, and Basel.

FRG is an international risk management firm focused on helping clients around the world maximize the effectiveness and value of their investments in risk management technology, methodology and processes. In addition to providing clients with expertise and guidance on creating platforms for stress testing and expected credit loss calculations, FRG has partnered with SAS to create a CECL offering tailored to the credit union space.

Tim McPeak
Tim McPeak

Principal Industry Consultant, Risk Research & Quantitative Solutions | SAS

Tim McPeak has more than 25 years of experience in the financial services industry with a specific focus on credit risk management. As a Principal Industry Consultant with the Risk Research & Quantitative Solutions division at SAS, he serves as an advisor to financial institutions and provides thought leadership on risk management initiatives including the Allowance for Loan and Lease Losses, Current Expected Credit Loss, Stress Testing, Model Risk Management and Credit Analytics.

Prior to joining SAS, Tim worked as a Senior Risk Management Consultant with financial technology firm Sageworks where he worked with banks and credit unions nationwide. His previous experience includes positions in retail, commercial and investment banking. He received his bachelor’s degree in Business Administration and Finance from Wake Forest University.