How the new credit impairment standard affects entities

The new credit impairment standard affects all entities and significantly changes how entities will account for credit losses for most financial assets. Are you ready to implement the new standard?

Join us for a 90-minute interactive discussion as our panel of EY professionals share the latest insights about the new credit impairment standard.

The panelists will discuss implementation observations to-date and the status of issues that have arisen since the standard was issued. They will also cover:

• How various industries will be affected
• How the standard impacts trade accounts receivable
• Data and modeling considerations
• Updates from the 11 June 2018 Transition Resource Group meeting

Panelists 

Anshu Agarwal

Ernst & Young LLP (US)

Anshu is an Executive Director in the Advisory Services practice of EY in New York, focusing on assisting financial services clients in enhancing their credit risk management practices through allowance for credit loss “ACL” methodology development, process enhancement, governance framework; risk rating methodology development and validation.

Anshu is currently engaged in CECL and IFRS 9 implementation assistance for five large US-based global banks including business implications of the standard, gap assessment, implementation plan development, model framework, future state target process, business and functional requirements, and financial impact assessment

Anshu has an MBA from University of Pittsburgh, and a Master and Bachelors in Accounting and Economics from Mumbai University, India. She has been with the risk practice at EY for 15+ years. Prior this role, she spent four years in public accounting.

Deborah Jones

Ernst & Young LLP (US)

Deborah is a Partner in National Professional Practice where she is responsible for supporting teams in the application of the fair value measurement accounting and credit impairment accounting.

She has more than 16 years of experience serving international financial services clients, including broker-dealers, derivative trading companies, commodities traders, global investment banks, commercial banks, hedge funds and private equity funds.

Deborah previously completed a two year rotation in Professional Practice in which she was responsible for advising banking clients and engagement teams on various complex accounting matters affecting the financial services industry, including fair value measurements, accounting for lending activities, investments in securities and accounting for business combinations.

Deborah has a Master of Accounting and Bachelor of Business Administration from The University of Michigan Ross School of Business, where she serves on the Alumni Board of Governors. She is also a Certified Public Accountant and a member of the AICPA.

Kevin P. Guckian

Ernst & Young LLP (US)

Kevin is a Partner in National Professional Practice and leader of the Financial Instruments team. Kevin is EY’s representative to the FASB’s Transition Resource Group for Credit Losses.

Prior this role, Kevin spent four years seconded to EY’s Netherlands practice where he served as an Audit Partner on two global Top-50 financial services companies. He also participated in both of these entities’ conversions to IFRS.

He has also served as an audit partner in the EY Philadelphia, Bermuda and New York Financial Services Offices, where he focused on clients in the insurance industry.

Kevin has his Master of Business Administration from Stern School of Business – New York University and his Bachelors of Science in Accounting from Saint Peter’s University. He is a certified public accountant licensed in New York, New Jersey and Pennsylvania, member of American Institute of Certified Public Accountants and a Fellow in the Life Management Institute.

Tom Yurcisin

Ernst & Young LLP (US)

Tom is a Partner in National Professional Practice and currently also leads EY’s services to a large multi-national bank.

Tom leads the EY National Office Credit Impairment team, responsible for developing EY’s views on technical issues relating to the credit impairment standard. In this role, Tom meets with our largest clients, other large accounting firms, regulators and standard setters to discuss emerging issues.

Tom has over 20 years of experience, providing audit and advisory services to large financial services organizations. He has deep expertise in the areas of financial reporting (including SEC reporting), brokerage, trust and securities processing , fixed income securities, derivatives, commercial and consumer lending, alternative investments and reinsurance.

He graduated summa cum laude with a B.S. in accounting from Manhattan College and has an M.B.A. jointly issued by Columbia University and the London School of Business. Tom is a Certified Public Accountant in New York, New Jersey and Massachusetts.

Moderator

Michael Gonzales

Ernst & Young LLP (US)

Michael is a Partner in National Professional Practice with 16 years of experience in the banking industry. He focuses on the accounting for financial instruments, credit impairment, and the interactions between accounting and bank regulation.

Prior to his current role, Michael was a Professional Accounting Fellow at the Federal Reserve Board of Governors. In that role, he provided technical accounting and risk expertise to inform and shape the Board’s policy making, stress testing and supervision efforts.

Michael also served as the banking industry resident in EY’s Professional Practice group and as an Associate Fellow at the Financial Accounting Standards Board. Michael began his career in EY’s Los Angeles assurance practice, where he served clients in the financial services industry.

Michael graduated with a B.S. in accounting from the University of Southern California and a M.S. in accountancy from the University of Notre Dame. Michael is a Certified Public Accountant licensed in California and New York.