How do finance professionals procounce “CECL”?
"According to the following links, it is commonly pronounced ""Cecil"".   https://kaufmanrossin.com/blog/bank-ready-meet-cecil/ The proposed model introduces the concept of shifting from an incurred   loss model to the current expected credit loss model commonly referred   to as CECL (pronounced “Cecil”). http://www.gonzobanker.com/2016/02/cecl-the-blind-leading-the-blurry/ [...] and its name is CECL (Current Estimated Credit Losses, pronounced like   the name “Cecil”). The name Cecil means “blind,” which is ironic, because FASB’s upcoming   guidance will push FIs to clarify the future performance of their loan   portfolios by using models to predict CECL of all loan portfolios. https://www.linkedin.com/pulse/operational-financial-impact-cecl-banks-nikhil-deshmukh Termed as Current Expected Credit Loss (CECL, or Cecil, as some call   it), [...]"
Yes it's a very specialized profession. Like extremely specialized. I've read in the WSJ a number of times that finance is unsurprisingly moving in a more intellectual direction, so i feel having this license in the long run may really pay off.  Thank you for your two cents. I especially like the Board of Directors bit. I really don't know if that is a good reason to dedicate my life to becoming an actuary. I work in financial tech, and we've been working on regulatory projects non stop since the middle of last year. Not a single feature enhancement for traders has been implemented despite very high demand.   The other (smaller) wing of the tech division has been working on electronic trading. As regulation and position transparency ramp up, voice spreads will fall and desks will have to rely on volume driven by electronic trading to make up revenue. The people driving this will be technology, and not the traders.   So: if you want to get in on the finances money, brush up on your programming skills: C++, Java, python are the bare minimum. So, you don't necessarily have to have your job be your life to work in finance. That's good to know, and makes sense, since surely there aren't enough Type A's to populate an entire, large, industry.   Man, I don't understand how one could work 100 hours a week for more than maybe one week. It would seem like basic needs such as sleep would become difficult with that level of work. I think that MFin is best suited for more technical roles in banks (I assume when you say IB you mean sell/buy side M&amp;A), HF, AM, and PM roles. I don't view PE, CF, or IB as technically challenging as most of the analysis is done on the areas outside of finance. "Background: I live and work in a small city (250k) and want to work somewhere much larger (New York, London, Chicago, Sydney). Ideal job is something quantitative and related to programming/analytics in finance, though I have passed the CFA Level III Exam to show my interest in the field and currently work as a systems and database analyst (job title is ""Senior financial analyst"".) I have a Master's in mathematical finance but my work mostly relates to personal side projects.  Questions:  Short of packing up and moving, what is an effective way to network with people from these larger cities?  Is there demand for quants and junior quants, or is there too much supply? Will I need to get a PhD to be relevant? Can I transfer my background or skills into another area of finance first to get the networking contacts?" What is the best way to learn SQL for use in finance, namely FP&amp;A? I've watched videos on YouTube but most of them focus on syntax. I do know that SQL is used in some type of DBMS like IBM / Oracle / Microsoft Excel. So, when job applications list SQL experience (like for FP&amp;A Analyst positions), what DBMS are they referring to? Oracle? Microsoft Excel? Does it matter? If I learn the syntax, is that enough?   I have searched for resources but again, they seem to be focusing on the syntax.  https://www.reddit.com/r/SQL/wiki/index   Can someone who works in FP&amp;A please explain or recommend a MOOC or other sources that will show me how to use SQL just like you do on the job?    Thanks. the financial information is generally filed via SEDAR (Canada) or SEC (US) before the conference call with the investment community.  This can take before either before the market opens or after the market closes.  The information is generally distribute to the various newswire service and company website at the same time the filing is made with SEDAR/SEC. E&amp;P can be valid throug Net Present Value methods, on a field-by-field basis. As no field is ever-lasting, and there Are not an unlimited number of fields, perpetuity-formulaes Are shitty.  FCFF on a per-field basis with WC and Capex, with a definite lifetime.  Thank you for the compliment. When you do finance problems the first thing you need to think about is how the interest is accrued. Is it monthly semi annually or yearly? Once you understand the period of time on the interest and payments it’ll help you understand these problems more. Also a good thing to memorize is converting from EAR to APR. and APR to EAR. You’ll use that a lot. Good luck! "Try to appear interesting to the guy.  Don't try and discuss finance, your views on current finance events, or anything of that nature.  Listen a lot to what s/he has to say and - when you hear something that you know a lot about - talk about that, in your most articulate and interesting tone.  The reason I say ""don't talk about finance"" is that - given your level of education and work experience - there's likely nothing you know that s/he doesn't, and it's even more likely that you're going to talk about something that you don't truly understand on a functional level.  What's likely to happen in this case is that you're probably going to be forgotten as just another person who talks about entry-level finance.  To reiterate: Just make sure you come off as interesting (""memorable""), and relaxed/easy going.  It might help if you network over a drink or two..." The person you're talking to is probably someone in the company. They need to convey the message to their bank. So you need to explain it to them as if they were 3 year old kids. You may be used to SWIFT transactions because that's how you always get paid, but unless the UK firm regularly employes Russian freelancers, this is probably the first time ever they have heard of it. Similarly, someone in the local branch of their community bank has probably never heard of it before either. In Europe they use IBANs and SWIFTs are rather uncommon. Be patient, explain the issue and the solution in as many words as you can, and suggest them putting you on speaker at the bank so that you could talk directly to the person executing the transaction. If you do the same on your side and let the bankers talk directly to each other - that would probably be ideal. "I'm with you here, I can't imagine who in IB would be ""financial modeling"" with Excel. Matlab, R, or even more general purpose languages like C are much more common. Even things like cookie-cutter monte carlo simulations or many-step binomial trees are a pain with excel." "Amount is the closest single word.  ""Amount in dollars"" would be the easiest way to specify information you are requesting.  ""Amount and currency"" if you ware in an area using multiple currencies.  An accountant might be able to give you a more technical term, but it would be accountancy jargon.  Amount due, credit amount, debit amount, amount deposited, amount credited, amount withdrawn, or amount included.  If you're writing instructions and want to specify that the person following the instructions needs to indicate the currency, you'll probably have to simply state that requirement.   Based on US centric thinking, inside the US, money is dollars, dollars is money.  For US citizens outside the country, we would always tack on the currency.  100 dollars, or 100 Euro.  There is a segment of Americans who do not understand geography, and that other countries exist, and that they use different currencies, might not realize that other countries have currencies named dollars, and that USD means US Dollars.  So for U.S. citizens, be specific and clear. Bottom line, if this is written for US residents, and they need to specify the currency, you need to explicitly require them to ""List the amount and currency.""" "According to Wikipedia: In the finance industry, something   done on a secular basis is done on a   long-term basis, not a temporary or   cyclical one, with a time frame of   ""10–50 years or more"" Source" I think you can solve the problem of different wordings by having a lookup with a table of all the different ways companies spell the same words that returns a standard format that you use. That way you only need to update the table every time you come across a new company and you wont have to type it out all the time.