Empyrean Solutions, a leading provider of risk and performance management solutions for financial institutions, today announced the launch of Empyrean CECL, a purpose-built solution designed to bring efficiency, transparency, and analytical rigor to how financial institutions of all sizes manage Current Expected Credit Loss compliance. The new solution addresses a critical challenge: delivering the analytical rigor that regulators expect while maintaining the efficiency and agility that finance teams require.
“Financial institutions face increasing regulatory complexity that demands rigorous risk management capabilities,” said Chris Maclin, CEO of Empyrean Solutions. “We built Empyrean CECL to deliver regulatory-grade results with the efficiency and usability that modern finance teams need. Institutions shouldn’t have to choose between regulatory compliance and operational efficiency.”
Empyrean CECL unifies data from multiple sources into a single solution, integrating seamlessly with existing balance sheet and FP&A workflows. The solution features intuitive step-by-step workflows that guide users from data validation through assumption setting to expected loss calculations, while maintaining complete audit trails that satisfy FASB, OCC, and FDIC requirements.
“We’ve seen firsthand how CECL compliance has strained finance teams across institutions of all sizes,” added Maclin. “Empyrean CECL converts what has been a weeks-long manual process into audit-ready results that can be generated with just a few clicks. This isn’t just about efficiency, it’s about giving finance teams the confidence that they’re meeting regulatory expectations while freeing them to focus on strategic initiatives that drive their institutions forward.”
The solution was developed with extensive input from bank and credit union finance teams to ensure it addresses real-world challenges while maintaining the flexibility to adapt to evolving regulatory guidance.
“We designed Empyrean CECL from the ground up with one priority: making quarterly compliance faster and more defensible, without requiring a team of credit modeling experts to run it. The solution shares assumptions directly with our ALM module, so there’s no reconciliation, no duplicate data entry, and no explaining to auditors why the numbers don’t match. Whether you’re a $500 million community bank running CECL for the first time or a $50 billion regional institution managing a complex multi-segment loan portfolio, the methodology and the audit trail are airtight. The result is audit-ready in a fraction of the time it takes with Excel or standalone tools,” said Kevin Studders, Chief Product Officer at Empyrean Solutions.
Empyrean CECL joins Empyrean’s comprehensive suite of risk and performance management solutions for financial institutions, including Asset Liability Management, budgeting and planning, and profitability analytics solutions.
