The MIP Timing Detector (MTD) of the Compact Muon Solenoid (CMS) will provide accurate timestamps with a resolution of 30-40 ps for all charged tracks up to a pseudo-rapidity of $\left|\eta \right|$=3. This upgrade will mitigate the effects of pile-up expected under the High-Luminosity LHC running conditions and bring new and unique capabilities to the CMS detector. The endcap region of the MTD, called the Endcap Timing Layer (ETL), will be instrumented with silicon Low-Gain Avalanche Diodes (LGADs), covering the high-radiation pseudo-rapidity region 1.6 < $\left|\eta \right|$ < 3.0. The LGADs will be read out with the ETROC readout chip, which is being designed for precision timing measurements. We present recent progress in the characterization of LGAD sensors for the ETL and development of ETROC, including test beam and bench measurements.