TAMPA, Fla.– Trellance, a provider of analytics, cloud and talent solutions to credit unions, said it has received the MountainView Risk & Analytics Fundamental Model Functionality Certification for its Current Expected Credit Loss (CECL) tool.
“The MVRA certification process involved a review of the tool’s functionality, including testing with multiple data sets to ensure the tool consistently and accurately generated correct reserve estimates,” the company noted.
It added the Trellance tool passed at every level of examination and testing, proving its value for credit unions looking to ensure they’re meeting CECL standards.
“We have always had the upmost faith in our CECL tool,” said Dan Price, VP-professional services at Trellance. “Earning the MVRA certification confirmed what we already knew and will help us to ensure our clients have that same faith and sense of security.”
How to Access Tool
The CUSO said the CECL tool is available through Trellance’s Prescriptive Analytics suite of products.
“It allows credit unions to assess their assets against predicted market losses and recommends how much capital should be held in reserve to offset losses for defaulted loans,” Trellance said. “The solution also comes with portfolio risk analysis and peer benchmarking reporting.”
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