Magazine article The RMA Journal

Live and Learn

Magazine article The RMA Journal

Live and Learn

Article excerpt

By learning you will teach; by teaching you learn.--Latin proverb

I have recently returned from a trip with my associate Nick Hayes, who is RMA's director of Global Relations and Market Risk. We were heartened by the enthusiasm of RMA members who have started a new chapter in Australia and others who continue to expand the recently opened chapters in Singapore and Hong Kong. In the latter city, I was pleased to host the Conference on Asian Securities Lending, run jointly with the Pan Asia Securities Lending Association and RMA. You may know Curtis Knight, RMA's director of Securities Lending, whose crew helped run the event.

Throughout this trip, the request for RMA's training programs was loud and clear. The need for continuous credit training throughout our careers is something we've come to recognize in North America. It's encouraging to see recognition of that need growing throughout the world, and it's gratifying that RMA is part of the solution. RMA meets this need with carefully selected Courses designed to set forth the principles of credit analysis and to build on that foundation with advanced and specialized courses.

Our members continue to share with us market experiences that confirm keen competition for good loans at acceptable terms and pricing. This puts a premium on credit analysis and the underwriting process. At a portfolio level, there is need to stress-test banks' loan assets for shocks to the economy, interest rates, exchange rates, or any other influence that can impact portfolio performance. We should expect changes in assumptions and payment projections set forth at loan origination and have risk management in place to deal with unforeseen events. …

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