Paul Golden provides the
lowdown on courses for asset finance professionals in the
UK.
Go deeper with GlobalData
In any downturn, training is one of
the first areas to be targeted for savings. Despite considerable
evidence to suggest that cutting back on skills development is a
false economy, budgets for courses are easily cut. This leaves
organisations poorly placed to take advantage of improving market
conditions.
Peter Niklewicz of First Finance UK
agrees that the market for asset finance training has been volatile
to say the least over the last few years.
“Up to 2008, demand was pretty
strong. Then the market fell off dramatically and in the last six
months we have seen the impact of cuts in budgets from last year.
Those companies who are now rehiring are looking to do some
training, but they have limited budgets,” he said.
Niklewicz believes that the market
will pick up, but not to return to 2007 levels, even though
companies are now taking on more staff.
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By GlobalDataThe short courses offered by First
Finance UK are delivered over one to five days, with a typical
public session being two days.
“For in-house courses we address
whatever issues the client wants to cover. That can be anything
from a two-hour module to regular sessions,” Niklewicz said.
Soft skills
The trainers all have a banking
background, giving them insights into asset finance.
Niklewicz said: “We prefer the
bespoke approach where we spend time getting to know what their
budget is, what they need and within what time frame. Most
companies understand that at least a day is required to make
progress.”
The majority of trainees are
intermediate professionals and Niklewicz said there is a lot of
demand for soft skills training from bankers who are moving into
management.
Costs range from £2,800 (€6,419) a
day for advanced courses to £2,500 for basic in-house programmes.
Public courses cost about £2,000 per day per delegate.
“A lot of companies buy
off-the-shelf programmes. We provide this type of product and it is
cost effective, but it is not as efficient as trainer based
learning,” Niklewicz said.
Lease training has become more of a
focus for training company De Vere & Co, according to Rachel
Illidge, risk and fraud education manager: “In addition to
education and training programmes for the invoice finance and asset
based lending sectors, we are finalising a number of training
modules developed specifically for people operating in the
industry.”
The company’s training is typically
based around fraud, risk and recovery. Other subjects covered
include Sage manipulation, client management and credit control
skills improvement, understanding business finance, optimising
debtor verification, and business information.
Enhance
performance
Clients tend to prefer to have
these training modules run at their own sites and Illidge says the
company is happy to visit multiple regions.
“This is more cost-effective for
the client as it saves travel time, costs and allows us to tailor
our material for particular teams, roles or skill sets,” Illidge
said.
The company also runs open sessions
in external training facilities and seminars with guest
speakers.
To attend a one day De Vere &
Co open session costs around £250 plus VAT. The price of in-house
sessions varies according to the complexity of the module and the
number of people attending.
Illidge said: “We have found a
substantial interest in certain modules, such as Sage manipulation
training, which is designed to show the attendees how their clients
may manipulate this accounting package to defraud them and to offer
a defence against such fraudulent activity.”
Mulhall & Willingham’s asset
finance courses are pitched at three different levels, explains
co-founder Alick Mulhall. Level 1, or beginner, is for people with
limited experience; level 2, or intermediate, for those with some
exposure to the industry; and there are management development
courses.
“Most of our courses are half-day,
although some extend to a full day, and they are held on either an
open or in-house basis. We can produce longer courses based on
client requirements or can tailor standard courses to meet specific
requirements,” Mulhall says.
The company recommends a maximum of
12 people for an in-house session, although trainers can
accommodate higher numbers. Programmes are charged on an individual
basis for groups of up to five, but the cost is the same for
between six and 12 people.
Mulhall says: “We have pared our costs in order to survive in a
difficult market. Training is one of the first things to be cut in
a recession. Many finance companies have reduced their headcount
and some of our competitors have gone to the wall.”
See also: Professional
development
