Implementation of new accounting standards for banks

Implementation of new accounting standards for banks

Manish helped a multinational bank and a regional bank implement new accounting standards, including Leases, Current Expected Credit Loss (CECL), and Derivatives and Hedging. The standards were implemented to allow seamless synchronization with the technology and manual processes of the bank. While implementing the new standards, Manish collaborated with stakeholders from IT, management, risk, and controls to develop new processes that would allow executive management to gain comfort when signing off on financial statements. He also collaborated with the SEC reporting team to review the SEC financial statements, ensuring all the disclosures required by the new standards were complied with. He also interfaced with banks’ auditors to help them with their audit procedures and certification.

Note: This work was performed prior to joining Stout.