NEW YORK UNIVERSITY
SCHOOL OF CONTINUING
AND PROFESSIONAL STUDIES
DIPLOMA PROGRAM IN
DIVISION OF PROGRAMS IN BUSINESS
Robert S. Lapiner, Ph.D.
DIPLOMA PROGRAM IN
Dean, School of Continuing and
Professional Studies CREDIT ANALYSIS
Anthony R. Davidson, Ph.D.
If you work in banking, are responsible for any
Divisional dean, Division of
Programs in Business type of credit product, or would like to enter the
field, it is critical to have knowledge of the most
Michael Oberstein, B.A., M.B.A.
Chair, Finance Department, Division current principles and practices for assessing
of Programs in Business credit risk. The NYU Diploma Program in Credit
Analysis gives you the training you need to
Debbie Saccoccio, B.S.
Assistant director, Finance expand your expertise and further your career
Department, Division of Programs
CONTENTS while confronting the challenges of the modern
Diploma Program in
Credit Analysis. . . . . . . . . 1 For over 25 years, the Diploma Program in Credit
FACULTY Analysis, offered through New York University’s
Curriculum . . . . . . . . . . . . 2
Anna M. Aguirre, B.A., M.B.A. School of Continuing and Professional Studies
Adjunct assistant professor of General Information. . . . 7 (NYU-SCPS), has given professionals the analytic
banking, Deutsche Bank and technological skills required by all types of
Gerard F. Becker, B.B.A., M.B.A. businesses that deal in credit. NYU-SCPS pro-
Adjunct assistant professor of
vides the quality and depth of training that is
banking, TIBCO Software, Inc.
usually only available in-house at top financial
David Daniel, B.S., M.A., M.B.A.
institutions. Our course materials are continually
Adjunct assistant professor of
financial management, Plaintiff updated by a faculty of esteemed practitioners
Funding Holding, Inc. in the field. Our students, many of whom already
Christopher K. Dee, B.P.S. have M.B.A.’s or other advanced degrees, choose
Adjunct assistant professor of electives that emphasize either commercial
banking, Citigroup Private Bank banking or a broad overview of credit issues.
Christopher G. Dorman,
B.A., M.A., J.D.
Adjunct assistant professor of
banking, Phillips Lytle, LLP
William J. Ezzo, B.A., M.B.A.
Lecturer, Capital Business
Alkesh V. Nanavaty,
B.A., M.B.A., CFA WHAT IS A CREDIT PROFESSIONAL?
Adjunct assistant professor of
banking, Deutsche AG Almost every enterprise collects money from
Robert Parker, B.S. its customers, often not until after the service or
Adjunct assistant professor of product has been delivered. Credit professionals
banking, Citibank, N.A. master the processes involved in investigation,
All information in this brochure
Wilson Seda is subject to revision through- analysis, market awareness, transaction structur-
Adjunct assistant professor of out the academic year. ing, statistical modeling, customer communica-
banking Check the current NYU-SCPS tion, collections, and interpreting laws and regu-
William W. Smith, A.B., J.D. Bulletin for tuition and general
information, or visit lations. The credit professional must determine
Adjunct assistant professor of
the NYU-SCPS website at who should get credit, how much should be
banking, Bank of China
scps.nyu.edu for course infor- extended, what kind of payment terms are
mation. The University
reserves the right to cancel
required, how to ensure credit gets paid, and
any course. what to do if it is not repaid.
Career opportunities are prevalent for profession-
als at every stage of the credit process. Banks,
consumer finance companies, consumer product
or service providers, and commercial developers
all require the expertise of credit professionals.
CURRICULUM Introduction to Credit Concepts
If you are entering the program without a solid
foundation in accounting concepts, you are required
This survey course introduces the foundation concepts
to complete Financial Accounting and Financial
of credit. Students review the history and development
Statement Analysis before advancing to other
of credit to gain perspective on our current public and
courses in the curriculum. In order to complete the
private credit methods, and the issues arising from a
Diploma in Credit Analysis, you must successfully
global marketplace. An overview of bank lending, com-
complete Z81.1000, Z81.3080, Z81.3100, Z81.1010,
mercial credit, consumer credit, and trade finance prepares
and four of the remaining courses.
students for further study in these specialized subjects.
Financial Accounting Credit Analysis: Corporate
Z81.3040/2 credits Z81.1010/2 credits
In this introductory course to financial accounting prin- This course focuses on classic bank credit concepts and
ciples, students develop an understanding of procedures their application to the lending situation, bridging the
and the end products of the accounting process—the bal- gap between credit analysis and lending. Topics include:
ance sheet and income statement. Topics covered are the evaluation and analysis of loan purpose, repayment
preparation of financial statements, including the con- source and schedule, short- and intermediate-term
trol of cash receivables; inventories and fixed assets; credit, financial statement projection; cash flow, liquidity,
accounting procedures relating to merchandising and and solvency. Case studies are used.
manufacturing organizations; and forms of ownership.
Students are also introduced to the interpretation of
accounting data for evaluation and measurement of the
individual business enterprises.
Financial Statement Analysis
All lending activity is based on the analysis of financial
statements. This course examines the best tools and tech-
niques available for integrating the analysis and interpre-
tation of financial statements into the accounting frame-
work. Ratio analysis, liquidity, cash flow, capital struc-
ture, and quality of earnings are all addressed. Analytical Managing a Commercial Loan Portfolio
techniques based on the preparation and review of Z81.1020/2 credits
spreadsheets are practiced.
This course outlines how to underwrite and manage a
portfolio of syndicated, commercial mortgage, middle
Advanced Financial Statement Analysis
market, asset-based, and trade finance loans. First, the
course focuses on origination of a loan: the loan pro-
Building on the basic course, this course provides an posal, credit analysis, and loan agreement. Then, the
understanding of the best tools and techniques for finan- course discusses control of risk in a portfolio: credit
cial statement analysis. Ratio analysis, liquidity, capital policy, risk rating, reserves, loan review, internal audit,
structure, trend analysis, profitability, industry stan- and workout. Finally, the course discusses compliance
dards, changes to working capital, changes in financial with regulatory standards governing safety and sound-
position, sources and uses of funds, and analysis by sales ness (Basel II and FDICIA), community reinvestment
are all studied to develop an advanced understanding of (CRA), and money laundering (Patriot Act). Materials
the analytics and functions of financial statement analy- distributed: credit analysis formats, loan agreement
sis. The data, as well as industry-specific issues affecting forms, and bank examination manuals.
interpretation, are explored.
Term Lending Negotiating Loan Agreements
Z81.3020/2 credits Z81.3070/2 credits
This course spotlights the special credit problems of This course is for bankers, corporate treasury personnel,
term and revolver lending, with particular attention to and lawyers who negotiate agreements involving domes-
collateral, borrower covenants, default provisions, and tic loans, Eurodollar loans, trust indentures, private
remedies. The analysis concentrates on the variables of placements, state economic development authorities,
security, maturity payment method, and interest rate. or the Small Business Administration. Students examine
In-depth financial statement analyses are made using how to negotiate, close, and enforce the varieties of
the case study method. agreements: security, pledge, guarantee, hypothecation,
subordination, and participation. Topics include: the
hell-or-high-water clause; the negative pledge clause; the
subordination clause; tortious interference with contrac-
tual relations; anticipatory breach; deacceleration; the
fair and equitable doctrine; and cram-down. Case studies
analyze actual loan transactions. (Offered in fall only.)
Trade Financing and Letters of Credit
In this course, students focus on the terminology,
mechanics, and instruments used in international com-
merce, and examine the risks and protections available
to those who arrange financing of imports and exports.
Topics include: types of letters of credit; governing reg-
Money and Banking ulations and financing techniques; documentary collec-
Z81.3000/2 credits tions and their role in trade finance; the use of foreign
This course is a highly selective examination of the exchange contracts and options in hedging internation-
markets in which banks and other financial institu- al transactions; and governmental agencies and pro-
tions function. Highlights include: the development grams providing assistance to international trade.
of financial markets and the structure and interrelation-
ships of interest rates; market instruments, money, near- Workout, Bankruptcy, and
money, and the vast array of new sources and uses of Reorganization
funds; changing institutional relationships and respon- Z81.3010/2 credits
sibilities and the use of fiscal and monetary policy; the
Focusing on middle-market and large corporate problem
instruments of monetary control; and the effect of
loans, this course examines how to obtain, foreclose on,
international trade on the banking and business cycle.
and liquidate collateral, as well as negotiate a Plan of
Reorganization either outside of court or under Chapter
Secured Lending/Asset-Based Financing 11 of the Bankruptcy Code. Topics covered include:
Z81.3050/2 credits valuation of a business; reorganization accounting;
This course examines the lending principles involved, FASB 15 and the law of setoff; preferences; fraudulent
and legal documentation required, for the following conveyances; equitable subordination; and substantive
types of credit: working capital facilities, including consolidation. Case studies examine actual reorganiza-
accounts receivable and inventory financing; cash-flow tion of retailers, manufacturers, wholesalers, and real
loans, including equipment leasing and term lending; estate enterprises. (Offered in spring only.)
and highly leveraged transactions, including acquisition
financing, recapitalization, and leveraged buyouts. The
course also examines the secured lending aspect of let-
ters of credit, real estate loans, and the bankruptcy code.
The Finance Department at NYU-SCPS offers
continuing education courses, professional
certificates, such as the Certificate in Financial
Planning, workshops, seminars, and the Diploma
in Credit Analysis, to give you the competitive
edge you need to remain valuable to employers
and thrive in your field. Areas of study include
credit training, economics, financial analysis, finan-
cial planning, personal finance, financial risk man-
agement and derivative instruments, international
business and finance, investment banking, portfolio
management, and wealth management. For more
information about the Finance Department’s offer-
ings, visit scps.nyu.edu/finance.
ABOUT THE DIPLOMA THE DIVISION OF PROGRAMS
The Diploma Program in Credit Analysis, consist-
ing of 16 credits, is offered during the fall, spring, The NYU-SCPS Division of Programs in Business
and summer semesters. A diploma is an inde- offers numerous opportunities to become familiar
pendent, freestanding professional credential. with the latest developments in your industry,
expand your professional network, and advance
In general, the application of credits earned in your business expertise under the guidance of
a diploma program toward a degree program instructors who are leading practitioners in
is limited. Courses in one diploma program may their fields. The Division consists of five depart-
not be used for credit in any other diploma pro- ments: Accounting, Taxation, and Legal
gram offered by the School of Continuing and Programs; Finance; Leadership and Human
Professional Studies. Additionally, you can be Capital Management; Marketing and Public
matriculated in only one program at a time in any Relations; and Management and Information
division of NYU. At least one year, fall and spring Technology.
terms, must elapse between the conferment of
degrees and/or diplomas. Offering four Masters of Science degrees, seven
graduate certificates, two diploma programs, and
The transferability of these credits to a degree a multitude of continuing and preparatory cours-
program depends on the specific requirements of es and certificate programs, the Division of
that school. Since diploma credits are profession- Programs in Business is dedicated to servicing
al credits, they typically do not qualify for gradu- lifelong learners who want to reach the pinnacle
ate credit. of their respective business professions.
Due to the nature of the program, transfers of In addition to hosting national conferences, semi-
credit from other schools or universities for nars, and industry practitioner series, the division
advanced standing is not possible. has also become a major provider of corporate
learning and training services to multinational
business organizations, government agencies,
and educational institutions in the U.S. and
For more information about the Division of
Programs in Business, call (212) 992-3600 or
A bachelor’s degree is preferred. Students may be
admitted with a minimum of 60 undergraduate
credits if they also meet an additional work experi- ATTEND AN
ence requirement. It is also recommended that can-
didates for this diploma have a minimum of one
year experience in a credit function. Minimum Attend an Information Session where you can learn
requirements may be waived in exceptional circum- more about the diploma program and speak to an
stances for applicants who provide two letters of advisor and members of the faculty. There will be a
recommendation that attest to their suitability in presentation to discuss admissions criteria, curriculum,
terms of work and life experience. An interview
and course content, and an opportunity to address your
may be required. We strongly recommend a score
specific questions. For details on upcoming events, call
of 600 (pencil and paper), 250 (computerized), or
(212) 998-7171 or visit scps.nyu.edu/events.
150 (Internet-based) on the TOEFL examination for
non-native speakers of English. Applications are
considered for the fall (September), spring
(January), and summer (May) semesters.
To apply to the Diploma Program in Credit
Analysis, complete and return the application with
a $35 nonrefundable application fee. Make check
or money order payable to New York University.
Applications must be received by August 15 for fall
admission, January 5 for spring admission, and
April 30 for summer admission. Mail to: New York
University, SCPS Office of Admissions, 145 Fourth
Avenue, Room 219, New York, NY 10003-4906.
Official transcripts from undergraduate and gradu-
ate schools attended must be sent directly to the ABOUT THE NEW YORK
Office of Admissions. Early application is strongly UNIVERSITY SCHOOL
recommended. OF CONTINUING AND
Request an application by phone at (212) 998-7171 PROFESSIONAL STUDIES
or download a PDF at scps.nyu.edu/diploma.
For 75 years, NYU’s School of Continuing and
TUITION AND FEES Professional Studies (NYU-SCPS) has been a world
Tuition is $1,137 per point, per term, which includes a leader in professional education and personal enrich-
nonrefundable registration and services fee of $59 ment. Each semester NYU-SCPS offers over 1,500
per credit. continuing education classes, as well as a variety of
professional certificate programs, each semester. Topics
CLASS LOCATION range from computer animation and design to finance,
Classes are held at NYU’s lower Manhattan site, the arts and humanities, and real estate. NYU-SCPS also
Woolworth Building, located at 15 Barclay Street,
offers 14 master’s degree programs, 12 graduate certifi-
between Broadway and Church Street.
cate programs, two diploma programs, and a range of
ADVISEMENT undergraduate degrees designed to prepare students with
Student advisement is provided by the academic the industry-focused knowledge and real-world expertise
department. Prospective students are strongly they need to achieve success in today’s vital industries.
advised to contact the Finance Department for
program options and requirements. Accepted
students should contact the department before
New York University is an affirmative action/equal opportunity institution.
8 registering to discuss course selection.
School of Continuing and Professional Studies
Ofﬁce of Admissions
145 Fourth Avenue, 2nd Floor
New York, NY 10003-4906
For more information visit: