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The Certificate course is available to start any anytime throughout the year. the course follows a modularised concept and is structured by way of individual modules.
The course looks in detail at the management and control of invoice financing and asset based lending and is designed to provide a targeted but rounded qualification.
As a course of study, it is aimed to help students build their skills, knowledge and understanding of the industry in specific areas.
The course is primarily aimed at those students operating at supervisory level – such as client managers, operations managers, auditors (or a similar level in organisations), but is equally suitable for anyone wishing to gain a deeper knowledge of the invoice finance and asset based lending industry.
It is an ideal qualification for account handlers and relationship managers wishing to progress their career.
This course is significantly more detailed and requires students to have a greater capacity for learning than the IF/ABL Foundation course.
The Certificate course can also contribute towards the Diploma qualification.
To complete the Certificate course, the student will have to complete 10 compulsory modules.
The 10 compulsory modules are:
At the end of each section within a module there are review questions and actions. These largely require the student to investigate their own company’s procedures and practices. These are for the students’ benefit and are not assessed by UK Finance.
At the end of the course the student will be required to complete an online assessment which will take the form of questions on various topics included in the modules and will attract a mark of ‘fail’, ‘pass’, ‘credit’ or ‘distinction’.
Students passing the assessment will receive a certificate qualification upon the successful completion of all 10 compulsory modules.
This is dependent upon the student’s level of industry experience and knowledge. Each module should take an estimated 2-4 weeks to complete.
The student will have a maximum of 12 months to complete the Certificate course as a whole.
The maximum commitment is expected to be five to six hours of study time per week.
Registration is open throughout the year.
Students will have 12 months to complete the course from the date of registration.
“The certificate course helped me to get an updated and broader vision of the Invoice Finance & ABL industry. The Fraud & Risk module helped me to identify fraud cases and how we can all minimise the emerging risks.”
“The distance learning is just right for me. I can fit my study time to my working calendar and private life. I can log in to the portal any time I want and study. As I can decide when to submit the course, I am enjoying it even more. The portal is user friendly; each module is divided in a few main topics. Each topic is well explained, and the language used is easy to follow. “
MODULE 1 - The Asset Based Finance Landscape
This module gives students a detailed background into how invoice finance originally came about and the development of asset-based finance in the UK. The module outlines the current landscape, including the marketplace, the role of UK Finance, Professional Standards and the Complaints Framework. The module then focuses on explaining the different products being offered in the marketplace.
MODULE 2 - Fraud and Risk
This module focuses on specific issues that might lead to an invoice finance provider losing money. Areas covered include invoice errors, quality of goods or services, delivery problems (including PODs, free issue goods, part deliveries etc), discounts and returns, and fraudulent activity.
MODULE 3 - Legal Aspects
This module starts by providing the student with an understanding of the different types of business structures in the UK. It also covers basic English law, including contract law and laws in relation to the sale of goods or services. The module then explains the basic principles underlining the provision of invoice finance, the different types invoice finance agreements, and other security available to a financier.
Finally, the module highlights other considerations that an invoice financier must be aware of, including data protection and money laundering regulations.
MODULE 4 - Financial Analysis
This module focuses on giving the student a better understanding of financial statements. It explains the different elements of a set of accounts, their purpose and what they can tell you about a company.
The module also gives the student a number of tools that can be used to evaluate the financial performance of a business.
MODULE 5 – Client Management
This module covers many aspects of managing a client, from the point of take on, to client visits and reviews, to managing the dual role of risk and relationship. The module also covers invoice finance accounting methods, including statements and availability calculations. Risks associated with invoice finance are highlighted, along with warning signs and preventative measures to minimise risk.
MODULE 6 - The Sales Process & Audit and Survey
THE SALES PROCESS
This module introduces the functions of the sales process in the invoice finance industry and demonstrates the importance of quality sales. The course also covers the process in its entirety from first contact to formal facility offer.
AUDIT & SURVEY
This module highlights the benefits of undertaking audits and surveys and outlines the key information that should be gathered at an audit or survey. The module covers areas such as preparation for a visit, understanding the prospects’ or clients’ business, their systems, financial stability, sales ledger controls and statistics, quality of the debts and debtors, and identifying and evaluating risks for a financier.
MODULE 7 - Debtor Litigation
This module provides students with the legal options available when a debt remains unpaid as well as details of how each option works and when to use each one.
MODULE 8 - Insolvency
This module provides an overview of all of the insolvency procedures and then looks at the invoice financier’s position under his debts purchase agreement upon the client becoming insolvent.
This Insolvency part of the module outlines and compares the processes available where a business becomes insolvent, including CVA, administration, and liquidation.
It explains the impact of each process on an invoice financier, how the financier’s security would work in these situations, as well as how assets would be distributed.
MODULE 9 – International Invoice Finance
This module sets out the different challenges faced by businesses trading overseas, including distance, language barriers, local legislation and customs, and currency. The module also covers the different documentation involved in transactions, and methods of payment. The module then goes on to cover import and export invoice finance and methods available to financiers to administer transactions, such as Factors Chain International.
MODULE 10 – Asset Based Lending
This module provides the student with a comprehensive description of Asset Based Lending, including descriptions of the various asset types suitable for finance and the operational aspects relating to these products. This module also includes managing risk and exit strategies.