Fundamentals of Corporate Credit
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Fundamentals of Corporate Credit Course
Introduction:
This course equips participants with essential skills to make informed and reliable assessments of a company's creditworthiness. By applying a structured framework, delegates will be able to identify and evaluate key qualitative and quantitative factors that determine credit risk. In today's economic climate, it is crucial to ensure timely payment without compromising customer loyalty.
This comprehensive and practical course covers all aspects of credit control, empowering delegates to feel more confident when requesting payment and handling challenging situations. Through the application of effective credit control techniques, your company can minimize bad debts and allocate funds where they are most needed—within your own organization. The course also addresses debt collection, exploring different techniques, enhancing questioning skills, and building confidence to achieve positive outcomes that contribute to business success.
Course Objectives:
At the end of this Fundamentals of Corporate Credit Course, learners will be able to do:
- Apply a structured framework to the credit analysis process
- Assess the role of management in the financial performance of a company
- Understand financial statements, their structure and composition, and basic accounting concepts and principles.
- Calculate and interpret key ratios used to evaluate the repayment prospects of a company
- Determine cash movement dynamics and ascertain their importance in the analysis process
- Summarize the key risks associated with a borrower and communicate them effectively
Who Should Attend?
The course is aimed at all those who would like to acquire a solid foundation of credit risk analysis skills, and/or those who simply need a “refresher” of their existing skills. Delegates can come from a broad range of backgrounds, such as Commercial credit analysts’ Commercial lenders, loan officers, and relationship managers Fixed income professionals Investors other financial professionals.
Course Outlines:
Credit Control
- The role of a Credit Controller
- The Credit Control Process
- Understanding your customer’s needs
Listening Skills
- Steps for effective listening
- Practical Exercises
Questioning Skills
- Practical questioning techniques
- Phrasing open and closed
Confidence and Assertiveness
- Confidence building
- What is ‘Assertiveness’ and why it’s important
- The impact of assertive behavior
Confident Language
- Using the correct words
- Powerful phrases to get your message across
- Phrases to use with confidence
- Language to avoid
Preparing for the Call
- First Impressions
- Information gathering & question
- Importance of voice
- Vocal techniques
Common Difficulties
- Dealing with a variety of clients
- The many reasons for non-payment
- Dealing with evasion, delays, and complainers
- Dealing with difficult customers
Making the Call
- Asking for payment
- Guiding the customer to a state in which they will agree on the payment
- Engaging with people
- Structure of a call
Negotiating Skills
- Understanding the ‘Rule of Reciprocity’
- Levels of negotiation
Legal Procedures
- Small Claims Court & Debt Collection Agencies