The Effective Credit Underwriter Home Page

ECU Logo An On-Line, Interactive, Case Study-Centric Credit Training Program for Equipment Leasing and Finance Specialists


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Introduction

Course Organization
Student Access Events Home

Introduction

ELA has joined with Moody's Risk Management Services-a leading provider of tools, technology and training for understanding and managing credit risk-to deliver this online classroom for leasing and finance credit professionals: The Effective Credit Underwriter.

The Effective Credit Underwriter is designed to help credit analysts increase their proficiency in assessing the credit worthiness of middle market business transactions. Even with credit scoring becoming an increasingly popular method of making credit decisions, there is still a great need to train credit analysts in the fundamentals of credit decision making.

An expert in equipment leasing credit analysis and decision-making, Howard Krollfeifer, Jr., worked hand-in-hand with Moody's exceptional training staff to modify their award-winning Web-based credit training program, Commercial Lending. Now, equipment leasing and finance companies have a means of training their credit professionals using a curriculum that addresses the unique business issues facing equipment lessors.

Course Organization

The Classroom
The course begins with students taking a Credit Skills Diagnostic that assesses their knowledge of the accounting and risk assessment topics covered in the course. Once the Credit Skills Diagnostic is completed, the software automatically creates a Personal Learning Plan, highlighting the lessons in areas where greater proficiency is needed. The software then monitors and reports student progress as each interactive lesson is completed.

There are 54 interactive lessons that engage and challenge students with graphics, animations, practice exercises and quizzes. A student's Personal Learning Plan may include all 54 lessons, but the actual number of lessons is based on the results of his/her performance in the Credit Skills Diagnostic.

The Classroom also contains a Library, containing more than two dozen reference volumes, information about the fundamentals of equipment leasing and finance and a leasing credit policy manual that can be printed or read on-screen.

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Simulation: Realistic Decision Making in a Simulated Environment
In this section, students engage in interactive simulations of actual credit analysis scenarios. They gather information, make virtual client visits, screen leases for policy exceptions, assess the risk of payment default and loss, structure credit facilities and then price them to determine if profitability is sufficient to warrant a "go" decision. Finally, they compare their steps and decisions with those of an "expert analyst" to see how they could have performed better.

The Effective Credit Underwriter comes with two case studies. It is anticipated that additional case studies covering a broad range of industries, business situations and financing needs will be added to the course over time.

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Final Exam and Certificate of Completion
Students complete their course of study with a final exam, the results of which are stored in each student's record. A Certificate of Completion from the ELA and Moody's Risk Management Services is awarded to students whose course work meets the following criteria:

  • Student has achieved a score of at least 75 for the final exam
  • Student has worked through the Credit Skills Diagnostic portion of the program and has completed all lessons in his/her Personal Learning Plan; OR
  • Student has opted not to take the Credit Skills Diagnostic and has completed all lessons in the program
  • Student has worked through at least one of the two case studies

Please Note: Each student should notify the ELA course administrator, Lesley Sterling at lsterling@elamail.com when he/she completes the course in order to obtain the Certificate of Completion.

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How Long Should It Take To Complete the Course?
Completion varies from individual to individual. Some people will want to spend large blocks of time on the material, and they will finish substantially sooner than others going through the course more slowly. However, the average student who spends one hour per day working on The Effective Credit Underwriter will take between four and five weeks to complete the course.

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Go it Alone or with a Mentor: Flexibility is Key to Success
When you or your staff register for The Effective Credit Underwriter, you get all the benefits of attending a semester-long course right on your desktop or laptop computer, with access available 24 hours a day, 7 days a week. Each student sets his/her own learning pace, and has the choice of working through the program independently or with the help of an on-line mentor. Students assisted by a mentor have the added advantage of personalized help to get started on the right foot, guidance through the best method of course completion and someone to answer questions quickly and coordinate other resources. Groups of students may choose to go through the course together, helping each other along the way. Please note: there is an additional charge of $250/person if you choose the aid of a mentor.

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Effective Use of the Mentoring System
An on-line mentor can be very helpful. There are certain "do's" and "don'ts" when working with him or her:

  • Be specific. Carefully word your question so that the mentor understands what you are asking. Be sure to indicate the section of the course around which your question stems.
  • Be patient. Your mentor may not check e-mail precisely at the time you posted your message. You should expect a response within a reasonable time period, ...but no later than 24 hours after your question was posted.

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How am I doing? Progress Reports On-Line
However you choose to take the course, student progress and performance records are kept in a centralized database, which can be accessed on-line by both students and administrators. The administrator of the course for ELA is Lesley Sterling. She can be reached by email lsterling@elamail.com or by phone (703) 516-8365.

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Internet or Intranet: Your Choice
Companies can access The Effective Credit Underwriter either through the web or through their company Intranet. Companies that have a substantial number of employees to be trained may choose to purchase a software license and maintain The Effective Credit Underwriter on their own in-house Intranet servers. Once installed, the Intranet course runs identically with the web course: both are accessed with web browsers, both offer the same advantages to users.

If you would like to install The Effective Credit Underwriter on your company Intranet, please contact Lesley Sterling at ELA headquarters: (703) 516-8365 or email: lsterling@elamail.com for information.

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On-Line Learning Works!
The bottom line: Moody's Risk Management Services has found that on-line learning substantially reduces training costs while shortening learning curves and increasing learner retention. Students using The Effective Credit Underwriter will learn more, learn it faster, retain it longer and apply it on the job more accurately and consistently. The bottom line is faster performers who bring in higher quality leases at lower costs.

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Recognition and Reward for a Job Well Done
It is hoped that those professionals who successfully complete The Effective Credit Underwriter will be recognized by their companies for a job well done. The Effective Credit Underwriter is like no other course developed by the ELA: it is truly a results-based educational experience designed to raise the level of expertise of your credit analysts and underwriters. As such, ELA and Moody's Risk Management Services recommend that this course become an integral part of your company's overall career development program leading to additional responsibilities and remuneration for your credit analysts.

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Student Access

Free Demo Available On Line
Moody's Risk Management Services has created a free demonstration version of the course that is available on their website: www.moodys-expertise.com The demo is designed to help the user fully understand all the components that make up the course and learn how to navigate through the program. ELA encourages potential users to go through the demonstration. Please note: The demonstration version is not leasing-specific. The demo version is based on Moody's original course, which is designed for credit analysts making commercial lending decisions. However, the demo version will still give the leasing and finance professional a good overall idea of how this Web-based training is structured.

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Pricing Information
ELA members
$775 (one person)
$725 each (three people/same company)
$675 each (five people/same company)
$625 each (ten people/same company)
Nonmembers
$1,125 (one person)
$1,025 each (three people/same company)
$950 each (five people/same company)
$900 each (ten people/same company)

If you have a substantial number of people to train, it may be cost-effective for you to install the program on your company Intranet. Contact Lesley Sterling at ELA headquarters: (703) 516-8365 or email: lsterlin@elamail.com for information.

Additional Mentoring Fee: $250 per person

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System Requirements

Hardware Requirements: Apple Macintosh or a Pentium class PC-compatible running at 100 MHz or higher, 32 MB RAM, 800 X 600 screen resolution, 56K modem connection or better. (sound card recommended)

Browser requirements: Internet Explorer 4.0 or higher / Netscape 4.0 or higher, Cookies enabled. Flash plugin required. You can get the free Flash plugin from the Macromedia site: Download the free Flash Plugin

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Purchase Access
Contact Lesley Sterling at ELA headquarters: (703) 516-8365 or email: lsterlin@elamail.com

With so much riding on your staff's credit decision-making and analytical skills, doesn't it make sense to give them the best training available?

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