Wolters Kluwer’s Executives to Present CECL and Liquidity Risk Expertise at Upcoming Risk Management Conferences

Wolters Kluwer announced that Bart Everaert, Market Manager, Risk and Finance, for Wolters Kluwer’s Finance, Risk and Reporting-Americas business, and Aaron Sayles, Senior Consultant, Finance, Risk & Reporting-Americas, will speak on the ever-changing role of risk management and evolving liquidity and Current Expected Credit Loss (CECL) regulations as part of two prominent risk management conferences taking place this month.

During the second annual Liquidity Risk Management U.S.A. conference, Sayles will present, “Evolution of the LCR: Reviewing Daily Management and Integration with Other Regulatory Regimes.” Sayles will share insights on how the LCR has evolved, its daily management and challenges, and best practices for balancing the regulatory requirements.

On October 26, 2017, meanwhile, Everaert will discuss the linkage between stress testing and CECL during the Risk U.S.A. 2017 conference organized byRisk.net.

“Risk management should be an integral part of the way your firm conducts business,” said Everaert. “Wolters Kluwer is committed to helping organizations integrate best practices into their strategic planning and business decision-making processes in order to better address challenges they may face during the transition to the new standards.”

The deadline to introduce CECL will be the first day of the fiscal year beginning after December 15, 2019, for financial companies that have publicly held equity and that meet the definition of a U.S. SEC filer (January 1, 2020, for calendar-year entities). All others will have a year after that to get the job done. Financial institutions will have to determine their allowance for credit losses in a different way, affecting not only accountants, but also loan officers, internal auditors, chief credit officers and, of course, IT personnel.

Everaert started his career in 2005 with Wolters Kluwer’s Professional Services team, where he led various projects in the U.S., Europe and Middle East on capital adequacy, liquidity, stress testing, IFRS 9 and regulatory reporting initiatives. This experience has made him a big believer in the need for an integrated framework across an organization’s finance, risk and reporting areas. He is now responsible for the vision and strategic outline of the group’s risk and finance offerings in the Americas region.

Having joined Wolters Kluwer in 2014, Aaron Sayles has worked in the financial services industry for 14 years and cultivated expertise on industry trends and regulatory developments in liquidity and credit risk. He has spoken at numerous industry conferences on liquidity risk and capital management, including offering insights for financial institutions in effectively monitoring liquidity under the Federal Reserve guidelines set out in 2052a. He has also presented on the challenges institutions face in daily liquidity reporting, strategies in liquidity forecasting, and best practices for building liquidity coverage ratio (LCR) from the 2052 rules.

Earlier this month Wolters Kluwer was named Wealth & Finance International magazine’s Integrated Regulatory Compliance & Reporting Platform of The Year Award, 2017.  Chartis Research recently named Wolters Kluwer a Category Leader for IFRS 9 solutions, for the second year running, as well as a Category Leader in its Markets in Financial Instruments Directive II (MiFID II) Report. At the end of last year Chartis Research named Wolters Kluwer #1 for Regulatory Reporting in its RiskTech100® report. Notably, this is the sixth year running that Wolters Kluwer has achieved this honor, with 2016 also seeing the company  win a plethora of other accolades for its dominant position in regulatory reporting from the likes of FinTech Finance, Data Management Review and Corporate Vision magazine. Wolters Kluwer’s OneSumX was also named Best Risk Management System by Banking Technology magazine at the end of 2016.