CECL Preparation: Moody's Analytics and Raymond James
b"We're circling back to CECL.\\xa0 There's been some changes to the implementation of the standard that need discussing, but we also wanted to add a fresh perspective on the preparation.\\xa0 One of the things that came out in this conversation is the quality of the data that will be needed.\\xa0 Yes, that data may be more expensive, but there's a lot to be said for knowing your loan portfolio's data better than you currently do.\\xa0 The silver lining to this cloud is that the data we will have to collect will also benefit our marketing efforts.\\n\\nFrom Raymond James, we have John Toohig.\\xa0\\n\\nJohn Toohig is a Managing Director at Raymond James, a Board Member and President of Raymond James Mortgage Company, Inc and Head of the Whole Loan Group.\\xa0 John joined Raymond James (formerly Morgan Keegan) in September of 2006. As manager of the Whole Loan group, Mr. Toohig\\u2019s primary responsibilities include day-to-day trading of whole loan packages, portfolio analysis, transaction management and the structuring of whole loan, participation and various structured products. Mr. Toohig\\u2019s product focus encompasses both seasoned and new production: residential mortgages (both QM and Non-QM), commercial mortgages, consumer lending, scratch and dent loans, and non-performing assets. Prior to joining the Whole Loan group at Raymond James, Mr. Toohig was a part of the firm\\u2019s Taxable Banking platform where he was responsible for corporate debt transactions, trust preferred securities, sale leaseback transactions and ABS transactions.\\n\\nMr. Toohig received his undergraduate degree from the Houghton College and his MBA from the University of Mississippi with a focus in finance and IT. Mr. Toohig has his Series 7, 24 and Series 63 licenses. His community involvement includes currently serving as Member of the Board of Trustees for St. Agnes Academy / St. Dominic School. He is also a former chairman for both the Lafayette and DeSoto county American Cancer Society Relay for Life events and the former president of the Ole Miss MBA Alumni Board. Mr. Toohig resides in Memphis, TN with his wife Sha, and his two daughters, Helen Grace and Cressey, while he works in Raymond James\\u2019 east Memphis branch.\\n\\nFrom Moody's Analytics, we have Robby Holditch with us again.\\xa0 Robby is a Director in the Regulatory and Accounting Solutions team. He is responsible for providing accounting expertise across solutions, products, and services offered by Moody\\u2019s Analytics in the Americas. Robby has 15 years of experience in tax, financial reporting, and fair value measurement with regional banks and Big 4 audit firms. He has Bachelor of Accountancy and Master of Taxation degrees from Mississippi State University.\\xa0 To hear more from Robby on Main Street Banking, check out our previous episode on CECL."