CreditLab: Fundamentals

Foundation level understanding of consumer credit risk principles across the credit life cycle

Course Overview

Course Description

CreditLab: Fundamentals sets a solid foundation and understanding of consumer lending principles. The course provides an overview of the consumer credit life cycle, covering both secured and unsecured retail products.

CreditLab®: Fundamentals trains participants on the fundamental drivers of the credit life cycle, addressing topics such as, product definitions, underwriting principles, credit bureau data, and collection best practices.

To maximize understanding of core principles, participants have to apply their knowledge in a variety of case studies, activities and a simulation game.  In the simulation, players battle it out managing a variety of portfolio in changing market conditions. To win, each team has to demonstrate a core understanding of consumer credit risk, underwriting, use of credit scores and collections concepts.

Learning Objectives

IDENTIFY

Identify important consumer lending product features that bring customer value and support profitability.

COMPARE

Compare techniques used for screening applicants, including verification, overrides, scores, and credit policy.

IDENTIFY KEY DATA

Identify the key data fields in the credit bureau and how they are used to evaluate and monitor customers.

EXPLAIN

Explain how the collections process is conducted and appreciate what the best practices of the process are.

The CreditLab: Fundamentals Simulation

  • Repetition

    Players repeat strategic decisions in a variety of market conditions, reinforcing learning objectives.

  • Experimentation

    The simulation provides a safe virtual environment for players to test-drive portfolio management strategies.

  • Evaluation

    Players have the opportunity to evaluate and understand the outcome of their portfolio management decisions.

  • Retention

    “Learn by Doing” approach maximizies learning retention.

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