Set it and forget it. Not always.

Uncategorized Mar 30, 2021

Without a doubt, Call Reports have become much more complex over the years.  Fortunately, most core data processing systems include at least some reporting modules designed to capture much of the data necessary to complete the Call Report.  Some of the most sophisticated core systems provide a means to map General Ledger and even individual loan and deposit accounts to the appropriate line items on the Call Report.  Of course, mapping the core system for Call Report purposes greatly enhances both accuracy and efficiency.

At this point you may ask yourself: My General Ledger, loan, and deposit accounts are all mapped and our Call Reports are routinely accepted for filing with the CDR so I can “Set it and Forget it,” right?  The answer is: Not always.

Even the most sophisticated mapping requires periodic reviews and updates.  Changes in banking laws, regulatory reporting rules, accounting pronouncements, glossary definitions, bank products, core systems, and personnel can wreak havoc with even the best mapping systems.  Best practices dictate that bankers periodically review and adjust mapping to ensure that it still meets current needs.  As the most significant changes to the Call Report usually occur with the March filing, bankers should consider performing a mapping review and including documentation of this review with the work papers for the first quarter.  By keeping your mapping current, you will help ensure that your bank’s regulatory reporting systems remain effective.

Keeping your mapping up-to-date requires that the person doing the mapping is also up-to-date.  Call Report preparers need consistent training and support.  3PR’s Call Report Resources provides the training you want, along with coaching and answers to puzzling questions that you need.


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