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The Certificate course is available to start at any time throughout the year via The Knowledge Hub. The course follows a modularised concept and is structured into individual modules.
The course provides an in-depth examination of the management and control of invoice financing and asset-based lending, designed to offer a targeted yet comprehensive qualification.
As a course of study, it aims to help students build their skills, knowledge, and understanding of the industry in specific areas.
LEVEL
The course is primarily aimed at those students operating at a supervisory level – such as client managers, operations managers, auditors (or a similar level in organisations). However, it 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 careers.
This course is significantly more detailed and requires students to have a greater capacity for learning than the IF/ABL Foundation course.
ASSESSMENT
To complete the Certificate course, students must complete ten compulsory modules.
The ten 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 who pass the assessment will receive a certificate of qualification upon successful completion of all ten compulsory modules.
STUDY TIME
This depends on the student’s level of industry experience and knowledge. Each module should take an estimated two to four weeks to complete.
The student will have a maximum of 12 months to complete the entire Certificate course.
The maximum commitment is expected to be five to six hours of study time per week.
REGISTRATION DETAILS
Registration is open throughout the year.
Students will have 12 months to complete the course from the date of registration.
We offer discounts for bulk bookings, making it easier and more cost-effective to support your teams career development. To discuss your requirements and find out more about available rates, please contact our Training Team.
Module one - The asset-based finance landscape
This module provides students with a detailed background on how invoice finance originated 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 market.
Topics covered:
Module two - Fraud and risk
This module focuses on specific issues that may lead to an invoice finance provider incurring financial losses. 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 three - Legal aspects
This module begins by providing students with an understanding of the various 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 underlying the provision of invoice finance, the different types of 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 four - Financial analysis
This module aims to provide students with a deeper understanding of financial statements. It explains the different elements of a set of accounts, their purposes, and what they can tell you about a company.
The module also provides students with a number of tools that can be used to evaluate the financial performance of a business.
Module five – Client management
This module covers various aspects of managing a client, from the point of taking on a client, 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 six - The sales process and audit and survey
This module starts by underlining the importance of marketing to a business, along with the core marketing concepts. The module then outlines the sales process involved in taking on a new client, from the initial contact with a prospect through to the offer letter.
The module also highlights to students the different challenges and risks associated with offering invoice finance to various industry sectors, as well as ways to minimise these risks when structuring a deal. The module then explains the considerations required when pricing a facility.
The audit and survey 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 seven - Debtor litigation
The debtor litigation part of the module outlines the rules underlying rules which govern any form of debtor litigation. The module guides students through the various processes involved in pursuing debts and the steps to follow for successful litigation. It also outlines the judicial processes and factors that determine which track to follow, as well as the costs and methods of enforcement.
Module eight – Insolvency
This Insolvency 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 nine – International invoice finance
This module outlines the various challenges faced by businesses trading overseas, including distance, language barriers, local legislation and customs, and currency fluctuations. The module also covers the various documentation involved in transactions and payment methods. The module then goes on to cover import and export invoice finance, as well as the methods available to financiers to administer transactions, such as those used by Factors Chain International.
Module ten – Asset-based lending
This module provides students with a comprehensive description of asset-based lending, including descriptions of various asset types suitable for financing and the operational aspects related to these products. This module also includes managing risk and exit strategies.
The Certification is suitable for any IF/ABL and Commercial Banking members who are seeking to take their next step in formalising their introduction to Invoice Finance and Asset-Based Lending learning. This could be a range of positions, such as:
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