FCI is constantly working to bring exclusive benefits to our members. One way in which we are doing so is through the FCI Academy with the “FCI Career Path” programme. This is the only education programme designed to help individuals develop their career in factoring and receivables finance created by senior industry experts from around the globe and with FCI’s 50+ years of knowledge and it is available exclusively to FCI Members.
The “FCI Career Path” education program is a cohesive, three-level development process that supports members from their first step as “new entrants in the receivables finance industry” until they become highly-qualified “industry professionals”. It is a unique, globally acknowledged, career-focused learning plan and has been accredited by the London Institute of Banking & Finance.
Members start with the “Foundation Course on Factoring - Career Path Level 1”. This course is the most popular e-learning course in Factoring amongst members. It provides an overview of factoring, including a brief history of the industry and information about FCI as well as details on the different types of factoring, benefits, methods and mechanism of the two-factor system. Moreover, it focuses on the main aspects of Seller Selection & Management, introducing the student to the risk elements of Factoring. Students can take this course in Chinese, English or Spanish and those who pass, receive the FCI Bronze Certificate on Factoring.
Those who successfully complete Level 1, move onto “Intermediate Course on Factoring - Career Path Level 2”. The FCI Intermediate Course is the natural next step from the FCI Foundation Course. It provides the student with detailed knowledge on the principles of the two-factor system, describing in detail it's Operating & basic legal rules. It further elaborates on best business practices in operations including the proper and efficient use of edifactoring.com and EDI rules. It is significantly more detailed than the Foundation Course and requires students to have a minimum of 12 months of experience in factoring. Those who pass will receive the FCI Silver Diploma on Factoring.
Once level 2 is complete and the member is successful, the next and final step is “Advanced Course on Factoring - Career Path Level 3”. The FCI Advanced Course elaborates on the risk issues and legal considerations in Factoring. Its syllabus includes topics on Seller selection & control, Buyer risk control, Dispute prevention & handling as well as a detailed reference to the FCI legal framework. Moreover, it enhances the knowledge of students by introducing the complementary services of Purchase order management & Invoice verification that are available to FCI members. Those who pass, receive the FCI Gold Diploma on Factoring.
The examination process is varied the higher the student goes. At the Foundation level, students sit for an online multiple-choice exam while in the intermediate and advanced levels, students sit for an online multiple-choice interim exam and an online final essay-type examination covering the study material. In the online learning platform, students go through frequent “self-assessment quizzes” and case studies to test their knowledge. All content and learning materials are available for download during the course for students to look back on and refresh their memories not only during the studying period but also after they have completed the programme.
Those who are interested in taking up this exclusive member benefit, may register via the link here, or contact your local FCI Regional Director/Manager to find out more.