Structured Finance Training Course

Duration 5 days 10 modules · 33 contact hours
Level Intermediate Certificate on completion
Who attends Corporate Treasurers, Structured Finance Analysts and others
Fee from USD 1,100 KSh 95,000 for Kenyan organisations
Where 52 cities + online See dates by city
Next start 7 Nov 2026 Course code SD-FM-097

Before you join: Participants should understand financial statements, corporate borrowing, interest calculations and discounted cash flow concepts.

Dates & prices

Two start dates a month in every city, and live online on weekdays or weekends. Fees are per participant; classroom fees include tuition, materials, lunch and refreshments, and the certificate.

Suggest a date or city

Showing the next six months. Later dates, other cities and private deliveries for your team are available on request.

Course overview

Structured finance is used when a company, bank or public sponsor needs funding that conventional borrowing cannot price or allocate efficiently. The work requires more than arranging debt: teams must isolate assets, design payment priorities, allocate losses, manage counterparties and show investors how cash will perform under stress. Errors in a waterfall, eligibility rule or accounting conclusion can change ratings, pricing, capital treatment and transaction viability.

This course examines the structures, documents and calculations behind securitisations, asset-backed securities, covered bonds, collateralised loan obligations, structured notes and project-finance debt. Participants learn to map asset cash flows, construct tranche waterfalls, assess credit enhancement, test default and prepayment assumptions, value notes, and assess hedging, liquidity and counterparty exposures. The course also addresses IFRS 9, Basel III, legal opinions, tax considerations, due diligence and post-closing surveillance.

Teaching combines instructor explanation with financial-sector cases, transaction-document review, cash-flow modelling tasks and structured group analysis. Participants work through the decisions made by originators, arrangers, investors, rating agencies, trustees and servicers. They leave with a reusable structured-finance transaction assessment pack, including a waterfall model outline, diligence checklist, risk register and term-sheet review guide. A certificate of completion is issued to participants who complete the course.

The course is suited to finance professionals who contribute to funding, treasury, lending, investment, risk, accounting, legal or transaction-execution decisions. It is delivered over five instructor-led days in classrooms in 50+ cities or live online, with training running from 08:30 to 16:30 each day.

What you will be able to do

  • Map structured-finance transaction parties, asset transfers and cash-flow routes
  • Construct tranche waterfalls using sequential-pay, pro-rata and trigger mechanics
  • Assess collateral performance using delinquency, default, recovery and prepayment measures
  • Size credit enhancement through subordination, reserves and excess-spread analysis
  • Value structured notes using discounted cash flow, spread and sensitivity methods
  • Evaluate hedging, liquidity and counterparty risks within transaction structures
  • Apply IFRS 9 and Basel III considerations to securitisation decisions
  • Prepare a transaction diligence, documentation and monitoring plan

Benefits of attending

For you

  • Assess whether asset-backed funding suits a proposed financing requirement
  • Interpret waterfall models and identify material payment-priority risks
  • Challenge collateral assumptions used in ABS, CLO and receivables transactions
  • Contribute informed questions during arranger, legal, rating and investor discussions
  • Build a documented basis for structured-finance career assignments

For your organisation

  • Improved evaluation of funding structures beyond conventional corporate debt
  • Earlier identification of waterfall, collateral and counterparty risk exposures
  • Stronger review of arranger proposals, term sheets and transaction documentation
  • Better coordination between treasury, risk, finance, legal and business teams
  • More defensible accounting, capital and investor-reporting decisions

Course modules

10 modules over 5 days

Participants can explain how structured-finance transactions transfer assets, risks and cash flows among parties.

  • Structured finance purpose, participants, risk transfer and funding economics
  • Comparing securitisation, covered bonds, project finance and corporate borrowing
  • Special purpose vehicles, true sale and bankruptcy remoteness
  • Originator, sponsor, servicer, trustee and investor responsibilities
  • Reading a transaction diagram from asset transfer through note repayment
  • Commercial objectives translated into early term-sheet design choices

Participants can map payment waterfalls and calculate how losses and cash collections affect tranches.

  • Asset cash-flow mapping using collections, defaults, recoveries and prepayments
  • Sequential-pay, pro-rata and turbo amortisation waterfall mechanics compared
  • Tranche subordination, attachment points and detachment points calculated
  • Interest shortfalls, principal deficiency ledgers and trigger effects
  • Revolving periods, early amortisation events and replenishment criteria
  • Waterfall stress cases for delinquency, default and prepayment shocks

Participants can assess collateral pools and identify performance factors that affect transaction cash flows.

  • Receivables eligibility criteria, concentration limits and dilution risk
  • Mortgage prepayment curves, seasoning effects and loan-to-value analysis
  • Corporate loan covenants, recovery assumptions and CLO collateral tests
  • Consumer ABS performance metrics: delinquency, charge-off and payment rates
  • Static pool analysis by vintage, geography and obligor segment
  • Servicer reports reconciled to collateral tapes and investor disclosures

Participants can assess credit enhancement features and their effect on investor protection and ratings.

  • Credit enhancement sizing through subordination, overcollateralisation and reserve accounts
  • Excess spread mechanics and reserve account drawdown conditions
  • Rating-agency stress assumptions, cash-flow tests and sensitivity tables
  • Counterparty exposure from banks, insurers and derivative providers
  • Performance triggers linked to arrears, defaults and collateral deterioration
  • Comparing investor protections across senior, mezzanine and junior notes

Participants can test structured-finance assumptions and estimate note value, yield and risk sensitivity.

  • Building monthly cash-flow models with timing and priority assumptions
  • Discounted cash flow valuation of notes under base scenarios
  • Yield, spread, weighted-average life and duration calculations explained
  • Default, recovery and prepayment sensitivities applied to tranche returns
  • Monte Carlo simulation for correlated defaults and prepayment variability
  • Model audit checks: balances, circularity, signs and reconciliation

Participants can identify the main contractual, legal and tax terms that support a transaction structure.

  • Transaction documents: sale agreement, servicing agreement and trust deed
  • ISDA schedules, collateral support and close-out netting provisions
  • Legal opinions on true sale, enforceability and insolvency
  • Tax leakage, withholding tax and value-added tax considerations
  • Data protection, consumer disclosure and conduct requirements reviewed
  • Term-sheet provisions converted into documentation and closing conditions

Participants can assess how hedging and liquidity arrangements protect structured-finance cash flows.

  • Interest-rate swaps matching fixed-rate assets to floating-rate notes
  • Currency swaps and basis risk in cross-border transactions
  • Liquidity facilities, commingling risk and payment interruption protection
  • Hedging counterparty replacement triggers and collateral posting mechanics
  • Swap breakage costs modelled under termination and downgrade scenarios
  • Basis risk measured between asset yields and funding indices

Participants can identify accounting and regulatory capital issues arising from structured-finance transactions.

  • IFRS 9 derecognition tests and consolidation assessment for securitisations
  • IFRS 9 expected credit loss staging for retained exposures
  • Basel III capital treatment of securitisation positions and risk weights
  • Significant risk transfer criteria and regulatory capital objectives
  • Fair value hierarchy and disclosure requirements for structured notes
  • Accounting entries traced from origination through distribution and servicing

Participants can plan the workstreams, controls and reporting needed to execute and monitor a transaction.

  • Due diligence workstreams covering assets, operations, legal and tax
  • Data tape validation, exception reporting and reconciliation procedures
  • Rating process milestones, information packages and committee questions
  • Investor marketing materials: term sheets, roadshow data and risk factors
  • Closing checklist covering conditions precedent, funding and settlement
  • Post-closing surveillance reports, covenant monitoring and stakeholder escalation

Participants can select an appropriate structure and define governance actions for a live funding opportunity.

  • Selecting structures against funding, capital relief and risk-transfer objectives
  • Comparing securitisation, warehouse facilities and bilateral risk-transfer alternatives
  • Project finance debt sizing using debt-service coverage ratios
  • Construction completion risk, sponsor support and reserve requirements
  • Transaction risk register with owners, mitigants and escalation thresholds
  • Personal application plan for pipeline opportunities and governance actions

Exercises and examples are adapted to each cohort's sectors and roles.

What you take back to work

  1. Structured-finance transaction map template
  2. Cash-flow waterfall model outline
  3. Collateral performance analysis worksheet
  4. Credit enhancement assessment checklist
  5. Transaction due diligence and closing checklist
  6. Post-closing surveillance risk register

Who should attend

  • Corporate Treasurers — assess asset-backed funding and risk-transfer alternatives
  • Structured Finance Analysts — build, review and monitor transaction structures
  • Commercial and Investment Bankers — advise clients on funding and securitisation transactions
  • Credit Risk Managers — assess collateral quality, tranche risk and credit enhancement
  • Investment Analysts — evaluate structured notes, ABS and CLO investment proposals
  • Finance Controllers — assess accounting, consolidation and disclosure implications

Skills and tools covered

Cash-flow waterfall modellingCredit enhancement analysisSecuritisation valuationCollateral performance assessmentStructured-finance due diligenceRegulatory capital analysis

Tools and standards

IFRS 9, Basel III, ISDA Master Agreement, Discounted cash flow (DCF)

How the course runs

Training methodology

Instruction combines short technical briefings with transaction cases drawn from bank, corporate, consumer-finance and infrastructure funding. Participants analyse collateral data, trace cash through waterfall structures, compare term-sheet provisions and test assumptions affecting tranche performance. Small-group work focuses on credit enhancement, valuation, hedging and diligence decisions. Simulations place participants in originator, investor and credit-review roles. The course closes with application planning against participants' own funding, investment or transaction-review responsibilities.

Requirements and prerequisites

Participants should understand financial statements, corporate borrowing, interest calculations and discounted cash flow concepts. Experience in treasury, lending, credit analysis, investment analysis, financial control, accounting, legal support or transaction execution is useful. Participants should be comfortable reading spreadsheets and discussing debt terms such as maturity, margin, collateral and covenants. Prior experience with securitisation, derivatives, project finance or specialist cash-flow modelling is not required. Advanced spreadsheet programming, legal drafting and prior knowledge of rating-agency methodologies are not required.

A typical training day

08:30 – 10:30First session
10:30 – 10:45Refreshment break
10:45 – 12:30Second session
12:30 – 13:30Lunch and networking
13:30 – 15:00Third session
15:00 – 15:15Refreshment break
15:15 – 16:30Workshop and daily review

Live online deliveries follow the same structure in East Africa Time, with shorter screen blocks and longer breaks.

What the fee includes

  • Instruction by a practitioner facilitator
  • Full course workbook and materials
  • Exercise files, templates and case studies
  • Refreshments and lunch on classroom deliveries
  • Certificate of completion
  • Post-course application plan

Frequently asked questions

You should understand core financial statements, debt terms and discounted cash flow concepts. Previous work on securitisations, derivatives or project-finance transactions is useful but not required.

Bring a laptop if possible, as participants review financial models, data extracts and transaction materials. You may also bring a non-confidential funding, investment or risk question from your work for the application-planning element.

It suits treasury, banking, credit, investment, risk, finance-control and transaction-support professionals. It is particularly relevant to those reviewing asset-backed funding or investing in structured debt instruments.

Corporate finance courses focus mainly on company valuation, capital structure and conventional funding decisions. This course focuses on asset pools, special purpose vehicles, tranches, waterfalls, credit enhancement and transaction-specific risk allocation.

Participants can use the transaction map, diligence checklist and risk register to review a proposed financing or investment. The methods also support better questions for arrangers, legal advisers, rating agencies, servicers and internal approval committees.

The course provides approximately 32.5 contact hours across five days, from 08:30 to 16:30 daily. Time is divided among technical instruction, transaction cases, modelling analysis, group work and application planning.

Questions about this course?

Ask about dates, fees, group bookings or running it for your team. Our training team replies by email.

Ask on WhatsApp info@skillsetdevelopment.com

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