FCIB - MSU Foreign Exchange Management online course

NEXT COURSE BEGINS: FEBRUARY 3, 2014

FCIB - the premier association of executives in Finance, Credit and International Business - in partnership with Michigan State University, presents a unique educational opportunity to export professionals and companies.

About the Course

From entry-level professionals to senior-level executives – this four week, instructor-led course delivers vital, practical knowledge about Foreign Exchange (FX) Management – everything an international credit professional needs to know.

The course is designed to be of value to any company whose business takes place in a currency other than the home currency. Any company importing or exporting products is exposed to foreign exchange risk. Indeed, even if a company manufactures and sells in the same country it could have significant economic exposure to changing foreign exchange rates.

A common problem in managing FX exposure is that companies only realize they have risk after the exposure has been generated. It is important that currency risk management begins before the exposures are generated otherwise fundamental operating decisions may have been made based on incomplete information. This course will help working professionals solve the foreign exchange risk management dilemma.

The course includes practical examples applicable to the corporate credit manager and others assessing the risk of transactions impacted by foreign currency issues.

Why would a credit professional want or need to know about foreign exchange?

1. The statements they analyze from the companies for which they are making credit decisions in all likelihood have components of FX imbedded in their business and understanding how FX concepts impacts the financial statements would be important.
2. Being a well-rounded internationalist is important to credit professionals and possessing expertise in a fundamental proficiency such as foreign exchange and FX concepts is important.
3. How can a credit professional profess to understand the dynamics of global business, country risk and credit risk if he or she is not completely familiar with one of the core fundamentals of global business; foreign exchange and all the various FX concepts such as hedging and risk management.
4. Interaction between countries, interest rates and currency values are key considerations in a buyers ability to pay for goods purchased.

The Experience

The course consists of four, one-week modules:

Course Completion Requirements:

Below is a list of requirements students need to meet in order to receive credit and a certificate of completion for having successfully completed the FCIB-MSU Foreign Exchange Management online course.

• Score 70% or higher on the Module Quizzes
• Participate in the online discussion
• Complete the program evaluation

Instructor

Craig Schurr is a Senior Vice President and Manager of FirstMerit Bank’s International Banking Division. Mr. Schurr is responsible for the overall international business activities of the Bank including foreign correspondent banking, foreign exchange, trade finance and structured finance products and the sale of services to companies throughout FirstMerit Bank’s banking franchise.

Mr. Schurr joined FirstMerit in 2009 and has over 44 years of experience in banking with 32 years focused solely on international banking. Previously Mr. Schurr worked for National City Bank, Bank One, Mellon Bank, and Equibank where he held senior management positions in Audit, Treasury Management and International Banking.

Mr. Schurr is a Board member of the Bankers Association for Finance and Trade and also co-chair of the association’s North American Council. Mr. Schurr is a member of the Northern Ohio District Export Council (NODEC) and a former member of The Global Council, the Advisory Board of Thunderbird, The School of Global Management in Glendale, Arizona Mr. Schurr is currently an Adjunct Professor at Thunderbird the School for Global Management teaching a class in Export Import Management, a volunteer for the Financial Services Volunteer Corp and a frequent speaker at regional and national trade association conferences.

Over his career Mr. Schurr has assisted hundreds of companies throughout the United States with their global business whether it is improving payment experience for global sales through effective deployment of trade tools, enhancing performance of global sourcing operations through effective management of the financial supply chain or efficient treasury management and hedging of foreign cash operations. Mr. Schurr co-developed and taught an all day seminar entitled Inside Trade Finance which was designed to provide exporters with financing tools that effectively enhance and improve the profitability of international sales while enhancing relationships with global customers.

Fees