General information

Key Learning Outcomes

After completing this course, participants will be able to:

• • Understand credit risk across the business cycle and the use of Expected Loss in pricing credit
• • Apply a structured framework for credit analysis
• • Identify and analyse corporate qualitative and quantitative data relevant to the analysis
• • Calculate and assess key ratios used in credit analysis
• • Understand the different measures of cash flow used by credit analysts, how to calculate them and how to use these measures appropriately
• • Estimate a firm’s debt capacity consistent with maintaining a given credit quality and financial flexibility
• • Understand that credit risk and documentation risk are different things!
• • Understand seniority, subordination and the APR and be familiar with how covenants are used to protect the lender

Target group

Any front, mid or back office professional who wants to develop robust credit analysis skills. This course is designed for participants who have some familiarity with financial statement analysis but who may not have any or only limited previous experience in the area of credit analysis

Course Content

Day One

Credit risk fundamentals, sovereign versus corporate versus retail credit, sources of risk, expected loss, qualitative analysis, management quality, corporate governance

Day Two

Quantitative analysis, coverage, leverage, gearing and liquidity ratios and analysis, profitability, returns, efficiency, valuation, Rating Agency approaches and preferred ratios

Day Three

Cash flow measurement and analysis, cleaning the numbers, lease adjustments, different cash flow measures, forecasting cash flow, debt capacity analysis, debt structuring and documentation risk

Certification & language

At the end of the training, each participant receives a certificate under the mentorship of HEIDELBERG Institute.

The training is conducted in English.

Lecture

Prof. Ivan Shverko
Member of the Board of Directors of Croatia Bank d.d.

He previously worked in Hypo Alpe-Adria Bank, as well as in Rijeka Bank, Erste & Steiermärkische and Volksbank Bank. In 2000 she received a Masters Degree in Business (MBA) at the University "Kentucky" in Lexington United States, then in 2006 she received her Ph.D. at the Faculty of Economics - Zagreb on the topic "Managing Non-Credit Risks in Croatian Banks". She is the author of numerous scientific papers in the field of banking and finance, including: "Non-Credit Risk Management in Croatian Financial Institutions", and co-author of the book "Money, Banking and Financial Markets".