In 2016, Financial Sector Deepening (FSD Africa) commissioned a study to understand the state of credit risk management within the financial services industry in Africa using Kenya, Ghana and D.R. Congo as case studies. The final report made various observations including the existence of a large training need across the three countries sampled across all staff levels (entry/junior, middle management/ intermediate, executive/senior level). It was further observed that there is a generalized lack of organized training for entry-level staff which is the level that requires training to help them lay a firm foundation on the fundamentals of Financial Services and Risk Management. Moreover, relationship officers and managers are recruited from a variety of backgrounds and do not necessarily have relevant skills and experiences which exposes financial institutions to possible fraud or poor asset quality that as a result of poor credit management skills.Below is a timeline of activities that FSD Africa undertook through a multi-stakeholder consultative process.
This process (see summary report) led to the development of the Fundamentals of Credit Risk Management (FCRM) course. Africa Risk Institute (ARI) was involved from start to finish in the entire process and dedicated staff and resources in the development FCRM. ARI is an accredited training provider for the FCRM Course.
Objectives of the Course
The FCRM training will impart participants with practical Credit Risk Management Skills to enable them to effectively assess the financial health of organizations using financial and non-financial information. Participants will gain a detailed understanding of the end-to-end credit risk management process and how to ‘tell the story of a business’ using various aspects of information from financial statements, including ratio and cash flow analysis, among others.Financial Institutions are rolling out the FCRM to their analysts, relationship officers/managers, and wider teams with a view to: –
Upon completion of the course, participants will receive certificates of completion from Africa Risk Institute. Those who sit for the International Certification will receive Certificates of competence from the Chartered Banker Institute (CBI).International Certification!!
For those interested in the International Certification, Exam Fees will be charged as follows: –
Registration fee (only payable if you’re sitting CISI exams for the first time) – GBP 16.00
Exam fee – GBP 150.00
NB: The Chartered Banker (CBI), The Chartered Institute of Securities and Investment (CISI) and The Chartered Insurance Institute (CII) are part of the Chartered Alliance where they work collaboratively. Through this partnership, CISI are responsible for administering the FCRM examinations across Africa.