CAFBA launches a trade finance education platform

The Commercial & Asset Finance Brokers Association of Australia (CAFBA) has launched a new education platform for brokers and lenders.

Available to members of CAFBA’s Board of Education (composed of 22 commercial lenders and aggregators), the Professional Attainment Center of Education (PACE) brings together formal courses, videos, podcasts and other content and resources approved by CAFBA focused on trade and asset finance.

Managed by the association’s registered training organization, the Institut de Management Stratégique (ISM), the PACE platform aims to provide “a commercial finance training path for newcomers to the industry, whether they are brokers or lenders”.

Speaking to The Adviser about the launch, CAFBA Managing Director David Gill said: “Formal education in commercial finance has been lacking for some time and there is no structured educational pathway to finance commercial for new entrants.

“By forming the Board of Education, we were able to develop PACE, which is a digitized platform that hosts and delivers the right courses in commercial finance, depending on the stage of your journey.

“It also provides CPD content that manages and logs progress, saving brokerage firms a tremendous amount of time and money.”

CAFBA Education and Commercial Broker Chair Terry Moody added that while lenders previously offered “rigorous training courses” for commercial lenders and brokers, these have now been discontinued.

As such, the platform targets both brokers and lenders.

“It’s not just broker-specific, it’sis industry-specific,” he said.

“We encourage banks and lenders to send their employees to try some of these courses, because itIt’s not just us saying, “Here’s how to become a good trading broker. Wesay: It’s also how to become a good commercial lender”. And if youare a good lender, youI will have good brokerage partnerships.

Mr. Moody pointed out that many CAFBA members may have had previous business experience or business degrees, but this education did not necessarily set them up for success when they entered commercial brokerage or asset finance. . (Indeed, this issue was echoed by rugby league player and asset finance broker Tom Trbojevic in a recent New Broker podcast, who noted that despite having a business degree, he found that CAFBA’s courses helped provide “more industry detail and insight into asset finance.)

As such, CAFBA has asked ISM Director Gerard Hermens to come up with a framework for trade and asset finance brokers to follow.

The framework now consists of an FNS41820 Certificate in Commercial Finance and Assets IV in Financial Services (Complex Issues in Commercial Lending); Commercial and Asset Finance FNS51820 Financial Services Diploma (Complex Commercial Lending Issues); and a certified leasing and financing professional.

Recurring CAFBA Accreditation Compliance courses and relevant courses from third-party providers are also part of the PACE platform.

Mr Hermens commented: “It’s an easy-to-use solution that you can use on your smart device 24/7 that tracks your progress and logs completion…

“This is supposed to be a one-stop shop, where you learn how to write a formal submission,” he said, noting that he believed it marked the first step towards self-regulation and self-imposition of a formal education process for commercial brokers through a “reputable and respected qualification”.

In conclusion, Mr. Moody said: We want an industry with the highest standards. The system is designed to recall, maintain, collect, authenticate and certify 20 hours of CPD — and it’s all assessed.

Mr Gill agreed, adding: We hope to create a market that is better educated, easier to access, easier to register and easier to attract new people to the industry.

It’s the biggest industry that no one has ever heard of. We want to be able to attend college career days and say, “Have you ever thought about a career in commercial finance? And show a way to that.

[Related: Commercial and asset finance broking could become recognised professions]