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About the course
A detailed, practical guide to the opportunities and mechanics within Asset Securitisation. The course will help you learn:
- How to recognise the optimum internal and external conditions and how to capitalise on them
- The importance of creating the right product for the right market
- The mechanics of the securitisation process – from origination and structuring through to pricing and trading
- The essential risk management techniques to utilise in securitisation
- What exactly went wrong during the worst of the credit crisis
- Practical credit enhancement techniques, including a review of credit enhancement decisions in recent deals
- How the world of securitisation changed as a result of the credit crunch and how you can exploit opportunities in the new market environment
How You Will Learn
This is a complete review of the securitised market, that will leave you able to exploit the opportunities when using these financial instruments.
Highly practical and interactive, delegates will use Excel to build a cashflow waterfall model for a CDO structure.
- Introduction: The State of Play and What Went Wrong
- Review of Securitised Products
- The Players, Their Contributions and Commitments
- Rationale for Securitisation: Benefits for Originator
- Preparing for First-Time Securitisation: Creating the Right Internal Environment
- Servicing Requirements
- Funding the Assets: The Most Common Routes
- Identification and Mitigation of Risks for the Various Parties Involved
- Credit Enhancement
- The Rating Process
- Regulatory, Legal, Accounting and Tax Issues
- Cashflow Modelling of Transactions
- EXERCISE: Delegates will use Excel to build a cashflow waterfall model for a CDO structure
John Richardson was previously the Managing Director of the corporate finance subsidiary of a London merchant bank, having previously worked in an advisory capacity with several high profile global investment banks. He holds the position of Programme Director, Visiting Faculty at Cass Business S...
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