The Credit 101 digital badge is an online certification that guides you through a series of credit, contract, and legal sessions designed to highlight some of the basic principles of the credit process. Completion of this course will not only reflect your understanding of the fundamentals of the credit process but it also allows you the ability to promote yourself as “certificated” on LinkedIn. Don’t miss this opportunity to leverage the vast knowledge of the IECA resource library.
The Credit 101 Digital Badge is your first step in taking advantage of everything the IECA has to offer. This badge is a symbol to display, showing that you hold basic knowledge of critical issues required for a credit manager in the Energy Industry. Our 101 certificate courses serve as a comprehensive introduction to a focused topic. If you're new to the profession or in need of a refresher, these certifications are a great step to leverage the IECA's extensive knowledge and expertise to further your career.
Simply view the designated webinars, presentations and microlearnings at your leisure, then take the online quiz at the end of the course to receive your digital badge and certificate of completion of Credit 101.
To process to get a digital badge is simple:
Estimated Total Time 8 Hours
a. Micro-Learning Guarantees vs. Letters of Credit featuring Craig Enochs, Reed Smith (5 mins)
Start of this 101 Series with this quick 5-minute Micro-learning! Craig provides a brief overview of the difference between Guarantees and Letters fo Credit.
b. Micro-Learning Guarantees featuring Kevin Page, Tenaska (5 mins)
In this video, Kevin Page, Associate General Counsel for Tenaska, covers the basics and benefits of guarantees for energy trading.
c. CRED Talk Prologue to the Present, The DNA of The Oil Industry (60 min)
Pat McKinnon, Senior Director of Euler Hermes Energy, gives a back to basics review on the history, exploration and production, storage and transportation of Oil Products. McKinnon explores the history of all aspects of Oil Products: from why Transaction Confirmations exist, to the naming and history of “Bid Week”.
d. Webinar: Internal Rating for Non-Rated Counterparties, RMG Financial (70 mins)
Although certain credit policies/decisions are often tied directly to credit ratings, as credit professionals we also need to evaluate non-rated and privately held counterparties for creditworthiness. Mr. Grossmann will discuss credit ratings as often applied to credit decisions in wholesale energy markets and various aspects of the evaluation and rating of non-rated counterparties and focus on the process of financial analysis. Topics will include the determination of “creditworthiness”, financial statement analysis, adjustments to financial data, ratio analysis, ranking and scaling of quantitative and qualitative factors and internal scoring.
e. Webinar: Potential Future Exposure - Basics of the Calculations, Kevin Kindall (50 mins)
Counterparty exposure metrics are an increasingly popular and useful way to measure both counterparty exposure and potential funding requirements. This webinar will present an overview of the common exposure metrics and a step-by-step process to estimate them for common trade types. Related topics such as Monte Carlo simulation and model calibration will also be covered.
f. Webinar: What drives a company’s credit risk appetite? Three perspectives from the energy industry (40 mins)
Three energy industry professionals provide their views on what drives an organization’s appetite for credit risk. Gain insight on the similarities and differences between Utilities, Trading, and Exploration and Production Companies. This webinar will provide a high-level view on: credit risk appetite, credit approval authority and establishing credit.
g. Webinar: An Introduction to the Uniform Commercial Code (UCC) and Why Credit and Contract Professionals Should Know it, Jeremy Weinstein (60 mins)
Do you know your rights to call for adequate assurance under the UCC? Did you know that a “perpetual” letter of credit expires in five years? Did you know your buyer might have a free out if the ISO reconstitutes a delivery point? Did you know quantity is the only necessary term for a contract? The UCC is powerful - you can control it or be controlled by it. Join Jeremy Weinstein as he introduces several key concepts of the UCC, including a review of adequate assurance and other key contract provisions.
h. General IECA New Member Welcome Presentation (60 mins)
This is a fun and exciting interactive live presentation on everything IECA for our new members! Get to know some of our education and interest group chairs and leaders, and learn a little bit more about IECA: what we do, who we are, and all of the exciting ways to get and stay connected in the industry.
i. Live Recorded Session: Responding to Major Incidents: Managing the First 96 Hours, Ben Patton (60 mins)
Finishing off your 101 series, this presentation will focus on the legal and reputational issues associated with responding to major industrial incidents, including crisis management, communications and media attention, evidence preservation, and government and internal investigations. Additionally, the discussion will address follow-on concerns and strategies for reducing legal liability, including with respect to overall risk management, government enforcement, litigation, and white-collar criminal enforcement. The presentation will include hypothetical questions based on real events to facilitate attendee involvement.
j. Final Quiz (30 min)
A comprehensive quiz to test the candidate on the information from the Credit 101 sessions. Questions are true/false or multiple choice and will address several of the critical components of each learning session.