GSCFM and GSCFMI Programs GSCFMI 2015 Brochure | Page 2

The National Association of Credit Management entered the arena of continuing, executive education almost 75 years ago. Today, NACM continues its dedication to the
global promotion and enhancement of the business credit professional through its many educational programs, led by the GSCFM. NACM, in partnership with FCIB—
internationally recognized as the premier association of executives in Finance, Credit and International Business—is pleased to uphold its position as leader in executive,
continuing education with GSCFM International.
GSCFM International vigorously delves into complex global issues facing credit professionals across the world. In the evenings, participants have the unique privilege of
networking with some of the brightest and most up-and-coming credit professionals, the students in the GSCFM program running concurrently with the GSCFM International.

The GSCFMI Curriculum
The GSCFMI curriculum is presented in six primary subject
matter concentrations.

Export Compliance
Sanctions, Embargo, Denied Parties

All U.S. persons must comply with Office of Foreign Asset
Controls (OFAC) regulations. The US Department of the
Treasury, through OFAC, administers and enforces economic and trade sanctions based on US foreign policy and
national security goals. Enforcement actions are taken
against foreign countries and regimes, terrorists, international narcotics traffickers and those engaged in activities
which threaten the national security, foreign policy or the
economy of the United States. How sanctions and embargos
are imposed and enforced based on specific U.S. foreign
policy and national security goals is addressed. Further, the
due diligence steps necessary to avoid costly violations and/
or imprisonment are reviewed.

End Users, Due Diligence & Necessary Documentation
in the Event of an Audit, Best Practices

This course segment explores the authority of OFAC, as well
as authority granted by specific legislation, to impose controls on transactions and freeze foreign assets under US
jurisdiction. Many sanctions are based on United Nations
and other international mandates, are multilateral in scope,
and involve close cooperation with allied governments. Best
practices for maintaining documentation in the event of an
audit or an enforcement action that may involve a supplier or
a customer are also discussed.

Foreign Exchange
Basics of FX and How Markets Function

The foreign exchange market is a global market for trading
currencies and determines the relative values of different
currencies through a trading platform. How does the FX market assist in facilitating international trade and investment?
What impact can Foreign Exchange speculation have on the

value of currencies, based on the interest rate differential
between currencies? This course segment probes the intricacies of the “interbank market.”

With respect to sovereign risk, the participants and Dr. Altman
will evaluate the analysis of country risk from the standpoint of
the private sector’s health.

FX “The Balancing Act”

The Evolution, Current Status and Applicability
of the Altman Family of Credit Scoring Models

This session focuses on the impact of rapid and large flows
of “hot money” on currency values due to changes in interest rates, GDP growth, FX reserve balances, trade surplus/
deficit balances, current account balances, large crossborder mergers and other economic conditions. How the
recent global “sovereignty” issues have impacted the currency values and currency availability of specific countries
is also examined.

Political Risk & Risk Mitigation Tools
The Current and Future Political Risks

This presentation gives an overview by region on current and
anticipated possible future political, economic and global
issues. An In-depth discussion on how these events cause
pressures to the export/import cycle and how International
Credit Managers can handle these issues to reduce the risks
to their portfolio are presented.

Risk Mitigation Tools & Best Practices

Covering at least five of the most important risk mitigation
tools an International Credit Manager has at their disposal,
the instructor takes an in-depth look at customer portfolio
and A/R, supplier portfolio and procurement and how the
country, economic and terrorist risk affects debtors and suppliers ability to repay.

Altman Scoring Models
and Credit Markets

Current Conditions and Outlook for Global
Corporate and Sovereign Credit Markets

In this section, Dr. Ed Altman combines an analysis of credit
risk from both a macroeconomic-financial markets viewpoint
and a microeconomic firm-specific risk of default analysis. He
introduces his latest techniques for assessing both corporate
and sovereign default risk in order to assist the sophisticated
practitioner and regulator to monitor and evaluate credit risk.

Dr. Altman presents a micro view of his Altman scoring model
and its applications for both domestic and international
accounts receivable management. Learn how the Altman
models can be used in managing debt and handling a financial turnaround.

Payment Methods and
Legal Structure
International Payment Methods

This session evaluates the various payment methods available
when doing business internationally. Each method is examined
by exploring: the costs, administrative aspects, the level of
risk of getting paid and the expected time frame for collection.

Creative Finance Structures

Discuss sophi sticated finance packages to offer your clients
to increase sales for various industries/products. Options to
increase sales and speed collections, enhancing your company’s bottom line are reviewed.

Incoterms
Use of Incoterms by Transportation Mode,
Obligation, Charges and Transfer of Title

The proper use of Incoterms in the various modes of delivery
is reviewed in this segment. Learning to avoid costly mistakes
in the transfer of documents can help you maintain control of
your global shipments and fully protect their company through
the transfer of title for transactions. A comprehensive understanding of a credit manager’s responsibility to the point of
transfer is necessary to ensure assets are covered through
the delivery process.
CEUs/CCE Recertification Points: 2.4
ICCE Recertification Points: 24