Fundamentals of Corporate Financial Statement Analysis

A three-day programme for experienced bankers, fund managers and credit professionals seeking to build on their existing skill base. The emphasis is on developing critical judgement, participants are required to be focused, practical and realistic in their approach. Structured and focused in their approach to analysing corporate credit risk. More effective in assessing the success of a company's business model and the appropriateness of a company's capital structures (i.e. the degree of liquidity and the ability to service debt). Better equipped to critique the terms and conditions of credit instruments to ensure that they reflect the commercial needs of the business and protect the debt provider's position.. The course makes extensive use of case studies, live examples and exercises to ensure that the training is highly interactive, practical, topical and challenging. Case studies are drawn from a number of countries and industries and provide participants with the opportunity to practice the application of the analytic frameworks and tools in context of real situations. The emphasis is on developing critical judgement, participants are required to be focused, practical and realistic in their approach.

Advanced Corporate Credit – Warning Signals is a highly interactive three-day course worth 24 CPD points. The course is designed to refine the analytic skills needed to identify the early warning signals of credit deterioration. It will also help participants to determine a company’s ability to improve performance or repair the existing capital structure. The course will draw upon lessons learned from the credit crisis to determine sustainable levels of indebtedness, the robustness of deal structures, and how best to respond to problems facing a corporate client. Current trends will be examined to highlight any potential pockets of risk.

Advanced Financial Modeling is a two-day course worth 16 CPD points. This course will develop the best practice approaches to structuring fully flexible and auditable models whilst cultivating the most efficient data analysis tools and solve other common modeling problems. Areas covered include flexible forecasting, quarterly modelling and period consolidation, auditing, building consistent checks, debt modelling and structuring, modelling taxes, NOLs and deferred taxes, large volume data analysis, modeling pensions, dynamic charting and sensitivity analysis. Advanced Financial Modeling is aimed at financial modelers, M&A analysts and associates with significant financial modeling experience. This course can also be run in-house.

The overall goal of this course is to develop a deeper understanding of global fixed income markets, trading strategies and market signals. 

Advanced Insurance Company Analysis - Warning Signals is a two-day course worth 16 CPD points. The course aims to cover a wide variety of troubled insurance companies in short case studies, and looks at signs of distress, operating environment, management and shareholders, business risk and financial risk. The course is targeted at experienced credit risk managers, fixed income investors and regulators who are already familiar with the key analytic tools for analyzing insurance companies. Advanced Insurance Company Analysis - Warning Signals can also be delivered in-house.

This program is aimed at those analysts and associates with significant financial modelling experience who have identified problems adapting their own models and also wish to take their skills to the next level. Harness Excel’s tools within a best practice framework. Add flexibility to their models through the use of switches and flexible lookups. Work efficiently with large data volumes. Model debt effectively. Approach modeling for tax, debt, pensions and disposals with confidence. Build flexible charts and sensitivity analysis to aid the presentation of results

Advanced Presentation Skills is a one-day course designed to enhance presentation skills through the discovery of new techniques to captivate an audience. Through practical exercises and by watching yourself present via camera, your ability will improve as your confidence grows. You will learn how to structure and build compelling presentations, consistently deliver in an engaging manner, build instant rapport, understand how best to use your voice, and how to be remembered. Whether you are an experienced analyst, associate or at Director level this course is ideal if you are looking to really engage and motivate your audience.

A three-day case study and transaction based workshop for origination professionals, focusing on the capital raising, funding, investment and risk management needs of banks in the context of changing markets, Basel III and other regulations. Anticipate client need by cultivating a better understanding of the key business and financial drivers of bank performance. Understand the changing economic, regulatory, risk management and accounting issues faced by banks and how they will shape bank strategy. Use a structured approach to spot potential business opportunities and identify the right questions to ask in client meetings. Recommend higher value added solutions for clients which incorporate capital markets, risk and portfolio management, financing and ALM product capabilities.

The objective of this course is to drill down into the financial statements of banks operating globally with universal, less standard business models to identify and quantify the risks of more complex business lines, such as broker dealer activity and securitization. Who should attend, Experienced analysts, regulators, risk and fixed income professionals with a good understanding of the analysis of financial institutions.&nbsp,

Bank Capital Adequacy Under Basel III is a two-day intermediate course worth 16 CPD points. The overall goal is to provide participants with an understanding of how capital is regulated under Basel II and III and appreciate the impact that changing regulatory capital requirements may have upon the bank’s exposures, and ultimately upon its balance sheet management and strategy. The target audience is bankers, internal auditors, regulators and analysts, but is also appropriate for those who wish to gain insight into capital adequacy and its importance for banks. The course assumes a basic understanding of accounting, banking products and functions.

The overall goal of this course is to provide participants with the skills to produce a bank forecasting model and run scenario analysis.

In this intensive two-day course we cover the key issues, tools, and techniques used to create and manage a RRP and the real-life challenges faced by financial institutions in the RRP process. Following the credit crisis and subsequent rescue of failing financial institutions by governments, Recovery and Resolution Planning (RRP) rules are being implemented globally, which require banks, building societies, and investment firms to produce a Recovery plan and Resolution pack.

A two-day intensive case study and computer modelling based workshop offering a structured approach to the analysis and valuation of bank equity. Key drivers, performance indicators, forecasts and stress tests are combined to address the challenges of bank valuation post credit crisis. Identify and benchmark the key performance drivers for banks in order to identify strong and weak performers. Anticipate the economic, regulatory and strategic issues which will drive bank valuations and capital needs going forward. Forecast future performance and growth in order to value potential earnings and dividend flows. Use multiples, dividend methodologies and distributable profit to assess the current and future equity value of a bank. Recognise both the upside potential of bank performance and the risk of further stress on bank earnings and capital that could cause valuations to fall. Apply these techniques in a modelling case study to build a valuation assessment of a large international bank.

Best Practice Finance Modelling is a two-day course worth 16 CPD points. The key learning outcomes are, • Know how to construct professional models • Understand how to build integrated models with additional valuation or analysis • Understand the sensitivity of key drivers, significantly improve efficiency of using shortcuts, and optimize the use of financial functions. Designed for professionals in corporates and financial institutions who wish to raise their financial valuation skills to a superior level, attendees should have a good basic excel knowledge and basic accounting knowledge. Best Practice Financial Modeling (Intermediate) can also be delivered in-house.

Construct professional models. Understand how to build integrated models with additional valuation or analysis. Understanding the sensitivity of key drivers. Significantly improve efficiency of using shortcuts. Optimise the use of financial functions

Business Writing Skills for Research and Sales Teams is a one-day course designed to help participants structure compelling written communications. The key learning outcomes are, • Prepare materials that motivate readers to take action • Structure documents and transmit clear messages • Write in a concise style that makes your desired impact • Recognize smart business writing, and improve your own writing objectively. Business Writing Skills for Research and Sales Teams can also be delivered in-house.

Capital Structures and Debt Products is an interactive two-day course that utilizes case studies and exercises to illustrate key learning points. The goal is to enhance the analytic skills needed when evaluating or structuring funding solutions for new business opportunities and in the context of re-financing existing corporate debt. This course is designed for banking and finance professionals involved in credit risk management, origination, structuring or relationship / portfolio management of companies actively managing their capital structures. Participants are expected to have a basic knowledge of Excel and a sound understanding of corporate risk analysis.

Central Counterparties, Clearing Houses & Exchanges is a two-day course worth 16 CPD points. The goal is to offer a structured approach to the credit analysis of Financial Markets Infrastructures (FMIs), specifically central counterparties (CCPs), clearing houses, settlement agents and exchanges. The course covers markets in securities and derivatives, operating environment, risk and financial analysis, and exposure structuring. This intermediate course is aimed at risk managers, treasurers, capital markets and regulatory professionals who need to review and analyze credit exposures to different types of securities and derivatives exchange, clearing house and central counterparty.

The need for quant finance expertise is ever-widening, so we've designed the CQF for ambitious professionals from a spectrum of backgrounds. CQF delegates come from a wide range of positions within the markets and a variety of academic backgrounds, including finance, economics, business, engineering and the sciences. The CQF is for anyone who wants an efficient and cost effective way to develop practical mastery of quant finance and machine learning, while also earning a globally recognized qualification.

CLO Credit Risk is a two-day course designed to equip participants with the analytic skills and understanding to assess the risk and rewards inherent in Collateralized Loan Obligations (CLOs). Key learning outcomes include, • Use a structured approach to evaluate the underlying assets, asset manager and transaction structures • Understand the impact of key variables on risk assessment models • Critique the structure to identify and assess the risks and protections afforded • Appreciate the rationale for CLOs from the perspective of the issuer and the investor • Highlight differences between CLO 1.0 and 2.0.

CMBS Credit Risk (Europe) is a two-day course designed to equip those connected to the European CMBS market with the analytic skills and understanding to assess the risk and rewards inherent in CMBS. Key learning outcomes include, • Understand the risk profile of securitized commercial mortgage debt by evaluating the asset quality and transaction structure • Understand the impact of key real estate variables on risk assessment model • Evaluate cash-flow waterfall priorities • Discuss implications of current market conditions on CMBS performance • Assess the relative risks and rewards of European CMBS asset classes.

CMBS Credit Risk (US) is a two-day course designed to equip those connected to the CMBS market with the analytic skills and understanding to assess the risks and rewards inherent in CMBS and the evolution of post-crisis CMBS. Key learning outcomes include, • Use a structured approach to evaluate the risk profile of CMBS • Understand a default model for CMBS • Assess the risks to each tranche in the transaction • Identify any risks arising from the servicers' capabilities and business model • Discuss current market conditions and development of CMBS 2.0 &amp, 3.0.

A one-day workshop applying a structured approach to the analysis of counterparty risk in complex derivative transactions. It is designed for experienced credit analysts/approvers, auditors, and regulators and provides practice in the application of analytical tools to complex transactions. Assess the overall purpose for entering into a complex transaction. Draw diagrams to show the cash flows during the transaction. Assess what movements in underlying variables create credit risk. Estimate the amount and timing of the resultant credit risks.

Corporate Credit Analysis is a four-day course worth 32 CPD points. Participants will use a structured and systematic approach to evaluate the credit standing of a company and assess the relative attractiveness of the risk-return profile of the investing/lending proposition. This is a highly interactive course where case studies and exercises are used to illustrate key learning points, allowing participants to apply the concepts acquired during the course to a real-life scenario. Fitch Learning’s Corporate Credit Analysis course can also be delivered in-house.

A three-day credit workshop looking specifically at the US MidCap market. A structured approach is used to identify key credit risks. The focus is on critical issues that are specific to the US MidCap market including owner-manager aims and goals, the challenges of MIS and funding products. Apply a structured approach to assess the creditworthiness of a borrower. Evaluate the performance of a company based on qualitative and quantitative frameworks and tools. Use appropriate market indicators, where available to understand refinancing risk and the market view on a credit. Identify the key factors that drive a company's future performance and evaluate the likely impact on its credit standing. Use a cash flow approach to ascertain a company's ability to service/refinance its debt as it comes due. Review debt structures to assess to what extent they meet the commercial needs of the borrower and protect the lender's interests.

This two-day programme offers a practical approach to corporate finance. It equips participants to understand the rationale underpinning corporate finance strategies and how this drives funding solutions. Anticipate management strategic decisions in response to market conditions and shareholders aims and objectives. Use valuation techniques to assess possibilities to enhance values. Identify capital structures and financing alternatives that optimise the cost of capital and shareholder value within the client’s own risk parameters. Recommend attractive, client focused changes to corporate and financial strategies that are value-enhancing and appropriate to current market conditions.

Identify companies with best practice corporate governance arrangements and those most susceptible to corporate governance risk. Review a company's board of director and executive compensation arrangements in the context of its performance and regulatory landscape. Determine whether the existing governance structures will effectively align to shareholder objectives. Appreciate the importance of corporate governance in contributing to the value of the organization

At the end of this two-day course, participants will have obtained a sound understanding of the key drivers behind a corporate issuer and instrument rating. During the course, participants will have the opportunity to apply the tools and metrics applied by a rating agency, including key criteria such as parent-subsidiary linkage, country ceilings, treatment of pension liabilities and hybrid capital. The program includes the application of methodologies to real companies using Fitch’s Ratings Navigator.

Aimed at finance professionals, this practical two-day course will deepen your understanding of valuation and enable you to apply different valuation techniques. The course is built around the use of our in-house models, therefore allowing the attendees to get their “hands dirty” in valuation rather than just covering pure theory. Key learning outcomes include, • Understand and evaluate the drivers of corporate value • Understand the concept and estimation of enterprise value • Derive the equity value bridge (waterfall) • Build and use the Discounted Cash Flow model • Develop a multiple based valuation • Assess the sanity of the inputs used to derive the valuation.

The overall goal of this two-day course is to provide participants with an understanding of the risks in providing Correspondent Banking services in the current highly regulated operating environment and how these risks can be mitigated and therefore managed. The focus will be on combatting financial crime in the form of money laundering and terrorist financing via the adoption of industry best practice and the avoidance of higher risk activity. Particular attention will be given to an examination of the key regulatory requirements and the importance of adhering to these. The course will also explain that Correspondent Banking can be a very remunerative line of business but only if the risks are understood and appropriately managed. The course is highly interactive via the use of exercises and practical examples to illustrate the key learning objectives.

Counterparty Credit Risk in Derivatives is a three-day intermediate course worth 24 CPD points. The aim is to enable participants to identify the key categories and drivers of transaction credit risk in the main derivative products, and to apply a consistent approach to the quantification of these risks. The course is designed for risk managers, bankers, analysts, controllers and regulators who need to understand how derivative credit risk is measured, mitigated and accounted for in an increasingly complex world. A basic understanding of derivative product structures is required. Counterparty Credit Risk in Derivatives can also be delivered in-house.

The aim of this two-day course is to equip participants with the analytic skills to assess risk and rewards inherent in Covered Bonds backed by mortgages and public sector assets. Key learning outcomes include, • Use a structured analytic approach to evaluate the risk profile of covered bonds • Understand the legal framework used to issue covered bonds in key jurisdictions • Identify risks to continued payments should an issuer default, distinguish the credit quality of cover pools, assess the impact of programme features on ratings, and evaluate the relative risks and rewards of covered bonds vs. other funding instruments. This course is designed for investors, credit risk managers, issuers, regulators, and bankers.