IFG ACADEMY 20 10

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& BECOME A FACTORING PROFESSIONAL IFG ACADEMY 20 10 2 What is it? IFG Academy is a series of six (6) international courses organized by IFG, in one year period. The Academy is designed to cover all aspects of factoring and leads to a diploma of Factoring Professional.

IFG Academy will bring added value to participants by offering a unique education platform that covers all aspects of factoring and which will be delivered by an elite body of trainers. Who is it for? All new staff in a factoring bank division or factoring company working on middle to senior level who needs to have a complete view on the industry they are/will be working in.

Managers or international managers about to move to more senior positions. All staff on middle management level with a few years of experience and growth potential in need of seeing the bigger picture of the industry. Practical Format Each of the six modules is spread over 2 days: Monday 10:00-17:30 and Tuesday 9:00-15:30 (permitting a lot of participants to travel in on Monday morning and travel out on Tuesday afternoon).

Students can follow the six modules spread over two years if this is more convenient (but the ... more. less.

6th module has to be the last in the row) The IFG Academy is held in Brussels with the kind cooperation of our legal sponsor White & Case Module 1 The World of Factoring Module 2 From Prospect to Client Module 3 Managing the Client Module 4 Fraud and Loss Prevention and Exit Strategies Module 5 International Factoring and Two factor system Module 6 Practical application of knowledge Educational Format Students may be asked to prepare a case related to the topic before attending the module After each module there is a multiple choice exam. When the test is passed, a certificate will be awarded. Students, who follow the complete course of 6 modules, will also be asked to write a case study from experience in their own company, integrating certain parts of what they have learned. Students who succeed in minimum 4 of the 6 module exams and who deliver timely a case study according to the principles set by the Education Committee will receive a diploma of Factoring professional. An award for the best student(s) will be given at the IFG Annual Meeting. 3 MODULE 1 3 THE WORLD OF FACTORING AIM The module is designed to make students understand the different industry products and the markets . FORMAT Preparation by students Presentations Reflection and discussion Test of knowledge Lunch & coffee breaks included TOPICS History & evolution Worldwide market overview Position of factoring and other products (e.g. Bank finance, Trade Finance &) Legal Considerations (Assignment/ Purchase; Insolvency Laws; Differences Between Countries) Opportunities and barriers for expanding in new markets/new countries Different products o With recourse o Non 3 recourse o Full factoring o Import/Export o Invoice Discounting o Maturity o Reverse o SCF o ABL (Inventory, Plant & Machinery) TRAINERS ERIK TIMMERMANS (IFG) ALBERTO MONZA (IFITALIA) PETER BRINSLEY (VENTURE Finance) Dr ULRICH BRINK (BWB) PRACTICAL INFO Date : 1 & 2 March 2010 Registration fee : IFG members: ¬ 3.000:- for all 6 modules ¬ 875:- per individual module. Non-Members ¬ 6.000:- for all 6 modules ¬ 1.750:- per individual module. Venue White & Case: 62 Rue de la Loi, Brussels 1040 4 MODULE 2 - FROM PROSPECT TO CLIENT AIM This module is designed to teach students how to find suitable clients. FORMAT Preparation by students Presentations Reflection and discussion Test of knowledge Lunch & coffee breaks included TOPICS Factorability Suitable industries Concentration vs. Spread Lead Generation Direct Parent banks Internal marketing Accountants Brokers Sales Process Pricing aspects Product advantages Choosing the appropriate product Prospect assessment Field audit (Financial Statements; Quality of debt, Quality of Debtor, Management) Working with the credit committee Closing the deal Contractual aspects (guarantees, comfort letters) Negotiations / Competitive offers Hand-over Promises vs. Reality TRAINERS HASAN ANLAR (Garanti) JOSEP SELLES (Eurofactor Spain) ROBERTO WECKOP (Eurofactor Germany) MARTIN WARD (Lloyds TSB Commercial Finance) PRACTICAL INFO Date : 19 & 20 April 2010 Registration fee : IFG members: ¬ 3.000:- for all 6 modules ¬ 875:- per individual module. Non-Members ¬ 6.000:- for all 6 modules ¬ 1.750:- per individual module. Venue White & Case: 62 Rue de la Loi, Brussels 1040 5 MODULE 3 - MANAGING THE CLIENT AIM The purpose of this module is to give students a thorough understanding of how to successfully balance risk and reward. FORMAT Preparation by students Presentations Reflection and discussion Test of knowledge Lunch & coffee breaks included TOPICS Account management o Day to day relationship o Role and responsibilities 3 Skills needed for CRM (Custom Relationship Management) o Tools (Software/Outside agencies) o Developing the client/ Extending life / Cross 3 selling / Additional income streams o Influencing skills o Visits / Reviews/ Audits Financial Analysis o Accounts o Cash-flow analysis/forecast o Basel 2 Regulations o Warning signs Monitoring o Back-office statistics o Verifications o Collection o Debtor days o Concentration o Working with the Credit insurer o Profitability of the relationship TRAINERS PETER BRINSLEY (Venture Finance) SIMON PETERMAN (Raiffeisen International) CORNELIU ROBU (NFC Russia) RICHARD HAWKINS (Atlantic Risk Management) DIETER HARDT (IDH Inkasso) PRACTICAL INFO Date : 7 & 8 June, 2010 Registration fee : IFG members: ¬ 3.000:- for all 6 modules ¬ 875:- per individual module. Non-Members ¬ 6.000:- for all 6 modules ¬ 1.750:- per individual module. Venue White & Case: 62 Rue de la Loi, Brussels 1040 6 MODULE 4 3 FRAUD, LOSS PREVENTION AND EXIT STRATEGIES AIM Students will learn how to minimize the impact of fraud and to minimize client losses FORMAT Preparation (Real Life Examples 3 International Flavor) Presentations Break-out / Reflection + Presentations from students Test of knowledge Lunch & coffee breaks included TOPICS MINIMIZING LOSSES (EFFECTIVE PROCEDURES) EARLY WARNING SIGNS FAILURE IN PROCEDURES KNOWING AND UNDERSTANDING CLIENTS AND THEIR RISK PROFILE TYPES OF FRAUD o Manipulation of cash o Pre-Invoicing o Set-Offs o Manipulation of the ledger o Deliberate Fraud CRISIS MANAGEMENT TOOLS o How to react (Aspects of insolvency laws) o Reference to the agreement o Collections and resolving disputes MAXIMIZING RECOVERIES AT MINIMUM COST AND DISRUPTION EXIT STRATEGIES o 5 Rs of recovery o Legal remedies of fraud o External help TRAINERS RICHARD HAWKINS (Atlantic Risk Management) JOHN SMITH (Riskfactor) SIMON BOON ( DLA Piper ) MICHAL POWALOWSKI (ING Poland) PRACTICAL INFO Date : 20 & 21 September 2010 Registration fee : IFG members: ¬ 3.000:- for all 6 modules ¬ 875:- per individual module. Non-Members ¬ 6.000:- for all 6 modules ¬ 1.750:- per individual module. Venue White & Case: 62 Rue de la Loi, Brussels 1040 7 MODULE 5 - INTERNATIONAL FACTORING AND TWO FACTOR AIM Students will learn the basics of international factoring and how to do it FORMAT PRESENTATIONS BREAK 0 OUT / REFLECTION + PRESENTATION FROM STUDENTS TEST PC s WILL BE AVAILABLE FOR STUDENTS LUNCH & COFFEE BREAKS INCLUDED TOPICS INTRODUCTION ON TWO FACTORS SYSTEM LEGAL ISSUES TRADE DOCUMENTS (INCOTERMS) THIRD PARTY RISK DIRECT EXPORT FACTORING COUNTER PARTY RISK ANTI MONEY LAUNDERING MEASURES GOOD FAITH DIFFERENT PRODUCTS (FACTOR RELATIONS) QUALITY OF THE FACTORING ACTIVITY (CTQ´s (Critical to Quality), KPI´s (Key Performance Indicators) and Product flexibility) TRAINERS CORNELIU ROBU (NFC Russia) DR BRINK (Bette 0 Westenberger 3 Brink) DIETER HARDT (IDH Inkasso) ENRICO BRAVENBOER (IFN Netherlands) ERIK TIMMERMANS (IFG) LINE PEDERSEN (Coface Finans Denmark) MICHELE CARDOENS (IFG) PRACTICAL INFO Date : 25 & 26 October 2010 Registration fee : IFG members: ¬ 3.000:- for all 6 modules ¬ 875:- per individual module. Non-Members ¬ 6.000:- for all 6 modules ¬ 1.750:- per individual module. Venue White & Case: 62 Rue de la Loi, Brussels 1040 8 MODULE 6 - PRACTICAL APPLICATION OF KNOWLEDGE AIM The last module is designed to test students understanding of the world of factoring. It is a very good occasion for the participants to exchange opinions and share experiences. FORMAT Role play modules 1 0 5 M.C.Q. Exam Students have to write on a case 0 study from their own company/country ( e.g. new products, client acquisition, new products, marketing procedures, fraud prevention strategies) + presentation FACILITATORS IFG Education Committee Members PRACTICAL INFO Date : 29 & 30 November 2010 Registration fee : IFG members: ¬ 3.000:- for all 6 modules ¬ 875:- per individual module. Non-Members ¬ 6.000:- for all 6 modules ¬ 1.750:- per individual module. Venue White & Case: 62 Rue de la Loi, Brussels 1040 9 TRAINERS & SPEAKERS Peter Brinsley Peter Brinsley is an Honours Graduate of London University with post-graduate qualifications in teaching and accountancy. He has been in the receivables finance industry for more than fifteen years working in risk analysis, audit, client management and international. He has spoken at several finance seminars and conferences in Europe, the Far East and Russia. Peter is also Chairman of the IFG Education Committee Erik Timmermans Erik Timmermans was appointed as Secretary General of IFG as per August 1st, 2005. He worked for 19 years at International Factors Belgium (now KBC Commercial Finance) in various sales, marketing and general management positions. Between 2002 and 2005 he was Managing Director of the cBrussels International Trade Mart d. Erik holds a university degree in economics (specialization in marketing) and followed a wide range of additional executive education programmes in Belgium and in France (INSEAD). Erik 9s main role as CEO of IFG, apart from the general management of the Secretariat, is to optimize value for all members (shareholders, partners, associated partners and sponsors). He travels intensively all over the world to meet with members, prospective members and industry associations. Dieter Hardt Dieter Hardt has been active in leading positions in the Factoring Industry since 28 years when he retired as MD of IFN Finance GmbH in 2006. With his own company cIDH Inkasso und Service GmbH d he is still serving the industry with consultancy and training facilities mainly in risk management. He is organizing training facilities for members of the German Factoring Association and works closely with International Factors Group. As a consultant he is member of the IFG Legal Committee and provides also IFG with Personal Training for members with respect of better understanding of the GRIF and DEX Richard Hawkins Richard Hawkins established Atlantic Risk Management Services Limited dedicated to the factoring, discounting and asset based lending industry over 10 years ago to provide tactical risk management services, Audits, Surveys, portfolio and collateral reviews sales ledger management and recovery. With more than 20 years experience working with and for the Asset Based Finance Industry, Richard 9s career history spans all aspects of risk management. He was at the forefront of developing asset based finance techniques in the UK in the 1980s. Richard has gained a series of professional qualifications including the Association of British Factors Diploma, the Commercial Finance Association USA Account Executive Certificate and the Dun and Bradstreet Credit Management Certificate. He is a regular lecturer to the industry and is co-author of the FDA Factoring Diploma course text cAsset Based Working Capital Finance d Corneliu Robu Corneliu Robu , He started his factoring career in 2001 with National Factoring Company. In November 2004 he was appointed Head of International Business of NFC. In July 2008 Corneliu was appointed Member of the Management Board of National Factoring Company, responsible for international business, product development, marketing, PR and communications. Corneliu has been a member of the IFG legal committee since 2003. Corneliu graduated from the Moscow State Institute for International Relations (MGIMO) in International Economic Relations. 10 Simon Peterman Simon Peterman is the Manager for all factoring activities of Raiffeisen International Goup on Head Office level in Austria. He has been working in Central and Eastern Europe for 10 years. Prior to his current position, Simon served in a variety of roles including Manager of first Factoring Company in Serbia and Montenegro and Head of Commercial Department of Prvi Faktor in Slovenia. Simon was also an underwriter of Credit insurance at Slovenes Export Credit Agency, coordinated and assessed more then 5000 international credit risks and was consultant to the Government of Serbia for building their Export Credit Agency. He started as an Insurance Broker, EOS Risq, Europe 9s leading Insurance Broker. Alberto Monza Alberto Monza started his career in Ifitalia at the end of 1986 and, since then, has held different positions within the company. Alberto started in the Credit Department, where he remained for about 10 years in the areas of risk assessment (clients and debtors), credit approvals, factoring contracts. This proved to be a very useful experience when, in 1997, he joined the Commercial Department and, after a couple of years, he was named Head of Marketing. In 2006 Alberto became also International Manager and now holds the position of Marketing Manager and International Manager. In the second half of 2008 Alberto was co-opted onto the Education Committee. Dr. Ulrich Brink Dr. Ulrich Brink is a senior partner of BETTE-WESTENBERGER-BRINK, a law office specializing in company, trade and finance law, having offices in the cities of Mainz, Erfurt, Leipzig and Berlin. Factoring has always been a core competence, as its founder Dr. Klaus Bette was the most important legal protagonist of factoring in Germany for decades. Ulrich has been performing legal work for factors for more than thirty years. As a manager of the German Factoring Association from 1986 until 2007, he also contributed to the development of the German factoring market. As an observer in various working groups of the United Nations Commission on International Trade Law, he was involved in preparing of the UN Convention on the Assignment of Receivables in International Trade and the Legislative Guide on Secured Transactions. Roberto Weckop Roberto Weckop has an experience in Factoring of more then 15 years. He started his Factoring career within Disko Factoring which was later sold to GE Capital Commercial Finance and was belonging to the Board of Managing Directors. In 2001 he successfully organized the start-up for Atradius Factoring and acted as Co- Managing Director. In 2006 after the integration of Atradius Factoring into Fortis Commercial Finance he joined Eurofactor as Director International & Marketing and Member of the Management Board. Michele Cardoens Michèle Cardoens has been working since 1977 for IFG, which she joined directly after completing her high school translator 9 studies. She has participated in the development of all the data exchange systems used in IFG since its foundation, the latest one being IFexchange. She is the Operations Manager of the group, in charge of supporting any aspects of the two-factor business. As the first line support person on IFexchange, she is also in charge of the users 9 education. She is a member of the IT Committee and the Legal Committee. Hasan Anlar Hasan Anlar is the Assistant General Manager of Garanti Factoring, the leading factoring company in Turkey. His main areas of responsibility are the sales and marketing activities of the firm. He has started his career in Garanti Bank and has taken various managerial positions within Garanti Bank, at head office, regional office and branch levels. His areas of specialization included international trade finance, corporate and SME finance. He joined Garanti in 2005 and contributed to the rapid expansion of factoring products among the corporate and SME clients. Mr. Anlar has an Economics degree from Florida International University in Miami and holds Corporate Executive MBA degree from Erasmus University 11 Josep Sellés Josep Sellés arrived in the factoring industry in 1993 and has been working in factoring companies with high volume of International factoring business ever since. He has been Vice Chairman of FCI, Chairman of the Marketing and Development Committee of IFG, member of the Board of the Spanish Factoring Association and representative for Spain in the EU Forum. He has written many articles for different publications, has spoken in several international Conferences and he is professor in well known Universities and Business Schools. Enrico Bravenboer Enrico Bravenboer started his career with the AMRO Bank NV in Rotterdam in 1986 dealing with International Cheque Payments. In 1994 he began working for IFN Factors starting as Portfolio Manager. In 1997 he became Team Coordinator International, where and as a result of managing the department very well he became International Manager. Enrico was a member of IFG IT Committee from 2004 till 2006, after which he was elected a member of the Legal Committee from 2006 till today. Line Pedersen Line Pedersen is Executive Assistant and International Manager at Coface in Denmark. Line started her carrier in retail banking, working for different branch offices for nearly 10 years. In 1991 the fascinating acquaintance with factoring began with a job in the Financial Department of Unifactoring A/S. Since this point Line has worked in several different positions within the Factoring industry. Line has been a member of the IT Committee for 7 year and she has during this period obtained a very thorough and detailed knowledge of the IF exchange application. In this capacity she has also for many years participated at the IFG Operational seminar as an instructor. John Smith John Smith spent 11 years in retail and corporate banking with the Lloyds Group then began his career in the factoring industry in 1985 with International Factors Limited in the UK In 1997 John became EMEA Sales Manager for IBM Global Financing, helping establish 12 new European commercial finance companies providing services in Supply Chain Finance, Asset Based Lending, Accounts Receivable Finance and Structured Finance. In 2001 John joined up with former colleague Tim Yates at RiskFactor Solutions Limited. Their company now provides risk management solutions and software to 74 Commercial Finance companies around the world in 13 different countries. Michal Pawalowski Micha B Powa B owski has been working for the ING Commercial Finance Polska since the 1st of September 1998 on several positions: Account Manager, Head of Client Service Department, Head of Limits and Credit Analysis Team, Director of Limits and Credit Analysis Department. In December 2007 he took the position of a Credit Risk Management Director and is responsible for managing the Limits and Credit Analysis Team and Credit Restructuring Team. Other duties on this position are: implementation and control of the ING Commercial Finance Polska credit policies, analysis of credit applications as well as decisions within the designated Mandate. Simon Boon Simon Boon heads up the Receivables Financing and Asset Based Lending team at international law firm DLA Piper UK LLP. Simon is a leading UK expert in receivables financing, specialising in the recovery of monies for asset based lending, factoring, discounting and trade finance companies. He has been advising receivables financing companies for over 30 years. Throughout his career, Simon has specialised on contentious receivables financing work. Simon conducts claims against the former clients of finance companies, guarantors and indemnifiers, undertakes fraud investigations and insolvency litigation. Simon was recommended for asset finance disputes in the 2008 edition of the Legal 500. 12 For individual consultancy and application you may contact: Sebastian Munteanu Development Manager 3 Trade association IFG Av. R. Vandendriessche, 18 ( Box15) B - 1150 Brussels Belgium Tel: +32/2/772-6969 Fax: +32/2/ 772-6419 E-mail: s.munteanu@ifgroup.com www.ifgroup.com

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