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1、CreditRiskManagementEnhancingYourBottomLine EbrahimShabudinManagingDirectorDeloitte ToucheLLP TheAFP23rdAnnualConferenceNewOrleansNovember3 6 2002 CreditBackground Thoroughidentificationandaccuratemeasurementofcreditrisk supportedbystrongriskmanagementcanhelpimprovethebottomline Anuncertainandvolati
2、leeconomicenvironmentsignificantlyimpactsthisability Thedesiretogrowandturninoutstandingresultshasatendencytoputpressureonthechecksandbalanceswithinbusinesses ValueProposition Creditplaysacriticalrolein selling productsandservicesExpandsrevenueopportunitieswithcreditworthy incrementalcustomersUtiliz
3、esinnovativestructurestosupportbusinessrelationshipsEffectivecreditriskmanagementlimitscreditlossesandprovidesstablecashflowsandearningsMarketplacerewardscompaniesexhibitingearningsandcashflowstabilitywithhigherP EmultiplesMarketplacepenalizescreditinducedvolatilityand surprises Raisesquestionsabout
4、qualityofmanagement CorporateCreditRisk CompaniesareexposedtosignificantlevelsofcreditriskemanatingfromdifferentsourcesAccountsReceivablesOtherNotesReceivablesBuyerandFranchiseFinancingWithRecourseFinancingProjectFinanceStructuredTransactionsLeaseswithRecourseDerivativesExposuresFX InterestRateRisk
5、Commoditiesetc CollateralRiskParentorThirdPartyGuaranteesCommercialandStandbyLettersofCreditNotealsothatCriticalSupplierstothecompanymayposespecificcreditrisk DSOImpact anexample CreditasaFacilitator CreditriskmanagementisimportantCreditisafacilitatorofbusinessgrowthandperformanceHighbusinessmargins
6、tendtoattractlowerqualityclientsandthereforehigherriskprofiletomanageClients buyers maybeconcentratedinselectedindustriesandprovidelimitedportfoliodiversificationopportunityPoorcreditriskmanagementresultinginnegativeimpacttobottom lineisheavilypenalizedbymarkets CreditStrategy RiskTolerance Specific
7、QuantifiableObjectivesManagementReviewMethodology CreditStrategyStatementandRiskToleranceCoordinationwithBusinessPlan Thebusinessstrategiesandobjectivesdrivetheestablishmentofcreditpoliciesandprocedures Measurementandreportingaswellastheuseofcurrenttechnologiesenhancecreditdecision makingandimprover
8、iskmanagement Theentireprocessiscontinuallyre evaluatedandimproved CreditRiskAreastoConsider CreditPolicyCreditApprovalAuthorityLimitSettingPricingTermsandConditionsDocumentation ContractsandCovenantsCollateralandSecurityCollections DelinquenciesandWorkouts ExposureManagementAggregationControlPeriod
9、icAccountReviewsPayments AgingCreditConditionCompliancewithCovenants TermsTechnology ReportsTransactions BookingsRisk adjustedReturn SalesChannelsRiskStrategyUnderwritingStandardsCreditApplicationAnalysisBusiness IndustryFinancialCreditCreditScoringandRatings Origination Assessment Administration Mo
10、nitoring Control RiskManagement PortfolioManagementConcentrationDiversificationAllowanceforBadDebtsRiskMitigationObjectivesTypeofExposureInstrumentsorMethods ValueCreation BusinessPerformanceMeasures Organizationsneedarigoroussetofmeasurestosupportcontinuousimprovement Performance basedmanagementuti
11、lizesmetricsthatmeasureactualperformanceagainstpredeterminedthresholds Thethresholdsareestablishedtakingintoaccounttheorganization sstrategy operatingenvironmentandprocesscontrols Themeasuresdrivevaluecreationandshouldsupportproblemidentificationandcorrection BusinessStrategySystemsOperationsFinance
12、 PerformanceManagement Saleschannels Contracts Documentation Creditanalysis Creditlimit Pricing terms CreditAnalysis CreditDecisions Collections CREDITPOLICY Collateralacceptance Portfoliomanagement Financialanalysis Disposal Riskmitigation Collateralmanagement Customermanagement Exposuremeasurement
13、 Managementreporting Exposureaggregation Recoveries Creditscoring Riskrating RISKMANAGEMENT CreditRiskManagement sInter relatedActivities Compliance Origination Reporting Transactions CreditPolicies Procedures Analysis RiskManagement Governance ControlandImplementation MeasurementMethodologies Techn
14、ology DataIntegrity CreditStrategy RiskTolerance Acompleteandcoherentriskmanagementframeworkcontainsthefollowingelements CreditRiskManagement ANewParadigm Anewbusinessparadigmhadevolved causingalackofrelianceongoodfundamentalanalysisTheideathatstockmarketvalueswouldcontinuetogoupindefinitelyIncreasi
15、nglycompetitive complexandvolatilemarketplaceHigherthanexpectedactualdebtburdensExtensiverelianceonunrealisticfuturecashflowsFailuresincorporategovernanceQuestionablepersonalandcorporateethics ImplicationsforCorporateGovernance CurrentorganizationstructurestoberevisitedClarityaroundrolesandresponsib
16、ilitiesNeedforhonesty integrityandindependence self regulation TechnicalexpertiseofpeopleandstrongmanagementprocessesImproveddisclosurerequirementsImportanceandimplementationofsanctionsIncreasedlegislationandcompliancerequirements Foundation CreditRatingandUnderwritingStandardsRiskIdentification Origination CreditAdministration etc ShortTerm ManagingExpectedLossRiskIdentification TransactionStructuring Approval PricingDecisions Reserving etc NearTerm ManagingEconomicCapital CreditVaRPortfolioRis
