Why certified credit research analyst course?

This integrated certificate programme will provide students with the necessary foundation of skills and experiences needed to enter the field of credit research analysis
Programme objective:
Students 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 workshop where case studies and exercises are used to illustrate key learning points. A case study presentation will form part of the workshop allowing students to apply the concepts acquired during the workshop to a real-life scenario.

Students are encouraged to be focused and concise in developing and articulating credit judgment.

Who should study for CCRA?
This highly practical course is specifically designed for candidates aspiring for a career in:
l Credit Analysis
l Credit Ratings
l Commercial and Retail Finance
l Investment Banking
l Private Equity
l Private Banking
l Banks
l Economic Research
l Portfolio Management
l Fund Management
l Academics

Programme benefits:
l In-depth reports that dissect the credit strengths and weaknesses of individual companies and transactions.
l Analytical models and software to analyse, screen and monitor individual credits and portfolios.
l Accurate, timely and comprehensive sets of data on company financials, industries, and deal performance metrics.
l Multiple perspectives – from qualitative to quantitative and from market-based views to fundamental analysis – on the credit quality of your portfolio.
l Will learn from top-flight professionals from the industry and academia.
l CCRA will help deploy the most comprehensive suite of research, data and tools to analyse and monitor individual securities, companies and industries on the market.
l One-on-one access to industry-leading analysts, briefings, and teleconferences.
l Will be prepared for entry-level employment in credit research.
Course structure

Level I
Understanding of financial statement analysis: Balance sheet, profit & loss statement, cash flow, ratio & its analysis, accounting policies, projections, red flags.

Credit specific analysis: Liquidity analysis, stress case testing, scenario, base, bear bull, covenant testing with projections, comparison-sector vs global, liquidation scenario, event, M&A, LBO.

Understanding of bonds/bond math: Bonds, covenants, pricing, spread, curves, CDS, seniority ranking, rich cheap analysis, SWAP, OAS, YTW, term structure & its theories, duration, PVBP.

Level II
Credit ratings basics: 4C Model, types of ratings, default rates, recovery rates, business, industry, financial and other risks, scenario analysis, sovereign ratings, methodology, CIBIL/FICO.

Credit strategy: Pair trade, basis trade, rating analysis – trends, sectors, etc, debt maturity profile, retrace analysis, sector charts, efficient frontier, commodity based traders, FX-based correlation, senior vs sub, CDS trader analysis, company charts.

Credit enhancement: Structuring, types of enhancement.
Regulations & others: Related party transactions, management analysis, overview of fixed income markets around the world, local regulations, alternative to ratings and understanding of corporate banking facilities, risk based pricing framework (Basel), credit risk mitigates.

Exams: Exams are conducted on a daily basis at National Stock Exchange (NSE).

Course offered by AIWM India:
The Association of International Wealth Management of India (AIWMI) is a not-for-profit organisation and a globally recognised membership association for finance professionals.

AIWMI primarily focuses on broader and strategic role of developing a more robust and forward-looking training infrastructure for financial services sector and to promote more active industry involvement and collaboration in training and continuing education matters.

AIWMI offers advanced international certification programmes along with a wide variety of high-quality executive education programs. AIWMI programs combine state-of-the-art knowledge and skills with practical experience and insights into the functioning of the financial sector.

All AIWMI courses and education events have an intense and pragmatic curriculum. Participants are exposed to the latest developments within the financial services sector.
AIWMI plays a key role in guiding the development of the financial services sector.

Knowledge partner:
Credit Analysis and Research Ltd (CARE Ratings) has established itself as a leading credit rating agency in India, having leadership position in various rating and grading businesses like that for banks, sub-sovereigns ratings and IPO grading. CARE Ratings provides the entire spectrum of rating services that helps the corporate to raise capital and assists investors to take an informed investment decision.

CARE Ratings is the knowledge partner of AIWM India for the Certified Credit Research Analyst CCRA certification and all the content and exams of CCRA are developed by CARE Research – a division of CARE Ratings.

CCRA will enable to:
l Analyse portfolio performance
l Streamline quantitative research
l Enhance internal ratings system
l Research companies, industries & products
l Make investment Recommendations
l Analyse credit-worthiness of your individual clients
l Generate better ideas & targets
l Build & maintain models
l Monitor your markets & companies