NISM & CRISIL
Certified Credit Underwriter
Programme
Your differentiator in the exciting and challenging
credit assessment space
Explore, exploit career opportunities in a
perma-growth industry
Credit underwriters play a crucial role in building
profitable portfolios for financial institutions. With the
NISM & CRISIL Certified Credit Underwriter
programme, you can stand out from peers and make
your mark in the industry by developing special
Rate of growth
skillsets to shape the outcomes of critical financial
akin to debt
decisions at banks and financial institutions. AUM of Mutual
funds over the
past decade
NBFCs emerge as
an integral part of
Indian Financial
~5x
(From 3.74 trillion
System in FY11 to 14.99
trillion in FY21)
Significant growth in
~4x
(From 5.9 trillion in
bank credit outstanding FY11 to 25 trillion in
over the past decade FY21)
~3x
(From 36.8 trillion
in FY11 to 108.9
trillion in FY21)
Grab the NISM & CRISIL advantage
Own your next career move
Upgrade your professional credentials with subject matter expertise in credit analysis
and debt instruments in India
The NISM advantage The CRISIL advantage
Certifications
A total of 27 certification examinations, out of
which, 15 are mandated by SEBI and 1 by
50,000+ 400+
Credit officers trained Organisations
PFRDA
Professional education More than 90% of banks use CRISIL’s
The School for Regulatory Studies and proprietary risk assessment model
Supervision (SRSS) envisages developing
excellence in regulatory technology to
support SEBI in its core functions of market
surveillance and enforcement
Financial literacy India's first and most prominent credit rating
The School for Investor Education and agency; announced 26,000+ new Bank Loan
Financial Literacy (SIEFL) aims to cultivate Ratings, i.e. one-third of India's banking
basic financial skills in individuals from all credit to corporates, till date
walks of life
Enhancing governance standards More than 90% of India's commercial bank-
The School for Corporate Governance (SCG) ing industry by asset base uses CRISIL’s
conducts various programmes aimed at industry research to take credit decisions
improving Corporate Boards' understanding of
governance issues
Fostering policy research Largest provider of fixed income
The School for Securities Information and valuations in India, servicing ~Rs 107 trillion
Research (SSIR) has made a significant mark ($1,573 billion) of outstanding Indian debt
in research projects and publications securities
How the course works, and what you can
gain from it
Imbibe core concepts of credit risk Gain entry into corporate
assessment including industry lending, be able to gauge the
analysis, business risk evaluation, ability to pick up big-ticket
financial analysis and promoter loans and look at larger
assessment credits
How to assess and under-
stand various products for Upgrade and fast-track your
financing small, medium- career - from retail, MSME,
sized and large businesses sales to corporate lending
How financial metrics of Expand your career
corporate performance Ways to benefit horizon by enhancing
are calculated and used What will from the your marketability with
to assess creditworthi- you learn learnings relevant knowledge and
ness of a business recognition
How macroeconomic Keep pace with latest
indicators and market market trends and best
conditions impact bond practices followed
yields and credit spreads across the industry
How to build capacity Validate your existing
to move towards knowledge and improve
new-age lending your career prospects
Course structure
No. Topics No. of Hours
1 Macro environment, debt markets and regulations 9
2 Credit risk assessment framework 4
3 Financial analysis 11
4 Capital market debt instruments 4
5 Working capital financing 9
6 Small business loans and PSL 8
7 Credit operations, documentation and security creation 5
Comprehensive training solution
Eligibility Course duration Learning resources
A bachelor’s degree with at 50 hours online certification E-learning access | Expert
least 50% marks or equiva- (self study) video bytes
lent cumulative grade point (Course material is not
average (CGPA). downloadable)
Course fee Examination Exam fee
Rs 16,000 (excluding GST) The certification exam will be Rs 2,000 (exclusive of taxes)
held quarterly. Exam dates will The fee remains the same for
be intimated on registration. subsequent attempts
The candidate needs to score
minimum 60% to pass the exam.
There is no negative marking
Badge and certificate Certification validity and Collaboration
Verifiable digital badge continuing education
NISM and CRISIL have to-
Your NCCCU certificate gether been able to offer a
(conferred on successful course unique course that fits well
completion) is valid for three with the industry requirement
years. Candidates are required and can become the gold
to obtain six credits, i.e. com- standard for today’s credit
plete six hours of online refresh- officers
er course to renew their certifi-
cate every three years.
Renewal fees: Rs 4,000
(exclusive of taxes)
Course structure
Get hands-on learning experience with highly interactive training content:
Real-life case Animations Recent regulations/
studies resource documents
22 90 65
Market-related data Knowledge
and analysis checks
47 134
Career avenues
Banks NBFCs AMCs Insurance companies
Rating agencies Investment banks Institutional brokers Private equity
NISM and CRISIL digital
badge program
NISM and CRISIL's NCCCU digital badge validates your mastery on credit risk
assessment skills
Your digital badge is equivalent to a paper certificate, share it online
Benefits of a digital badge
Share across various
Showcase your social media platforms
achievements and digital formats
Enable employers to Demonstrate that
quickly validate your knowledge
your certification is up to date
Where can you use your digital badge?
Twitter Facebook Instagram LinkedIn Email WhatsApp
signature
Who will notice these digital badges?
Get
PowerED
Clients Employers Prospective Colleagues by CRISIL
clients
Digital badges are an invaluable asset in a growing gig economy.
To know more, click here
Highlight your achievements and stand out from the crowd.
Annexure
Topics Sub -topics No of Study hours
GDP: Measurement and linkages
Inflation and inflation targeting in India
Applied
macroeoc- Currency and external trade
3
nomics for Government deficits and debt
lenders
Putting policy in context: monetary and fiscal policy
Implications of monetary policy of advanced countries
Significance of debt
Types of debt markets
Primary and Secondary markets
Introduction
to debt Money markets and Debt Capital markets 0.5
market
Money market instruments
Debt Capital market instruments
Regulatory framework and other financial agencies
Introduction to the Banking sector
Structural overview of financial services sector
Structure of organizations engaged in lending business
Overview of Classification of Banks
Banking 0.5
Sector History of Indian Banking
Global Banking Market at a glance
India's Bank-Credit-to-GDP Ratio
Domestic Banking Sector in the past decade
Introduction to the NBFC Sector
Structural overview of financial services sector
Structure of the organizations falling within the regulatory
purview of the RBI
Classification of NBFCs
Overview of
1
NBFC Sector Sub-segment of the NBFC sector
Inherent Risk Features of Retail products
Funding profile of non-banks
Journey of the NBFC sector in the past decade
Share of NBFC segment in overall lending space
Annexure
Topics Sub –topics No of Study hours
Introduction
Components of a Bank balance sheet
Understanding a Comparison across banks
3
bank's business Off-balance sheet items
Components of a Bank P&L
Key ratios for a bank
Overview of RBI
Role of RBI and Function of RBI
1
key regulations Key regulations of RBI
Regulations of NBFCs
Understanding risk
Introduction to Concept of credit risk
credit risk Business risk analysis 1
assessment Managemnt risk assessment
Financial risk assessment
Introduction to credit ratings
Credit risk Credit rating scales
evaluation Credit Rating Framework 3
framework Industry risk evaluation framework
Typical reasons for rating changes
Introduction
Profit and loss statement
Balance Sheet
Introduction to Cash flow Statement
financial 1
statements Contingent Liabilities
Schedules and Notes to Accounts
Auditor's Report
Management Analysis
Annexure
Topics Sub -topics No of Study hours
Analytical Adjustments
Operating vs. Non-Operating Activities
Depreciation
Analytical
Revaluation reserve 3
adjustments
Intangible assets
Off Balance Sheet Items
Lease
Analysing Profit and Loss Ratios
Financial
Balance Sheet Ratios 3
Statements &
Ratios Off-Balance Sheet Items
Introduction to Cash Flow Statement
Calculating Cash Flow
Cash Flow Case Studies
statements & Identifying Financial Statement Frauds
Financial 3
Statement Improper Revenue Recognition
Fraud Improper Expense Recognition
Contingent Liabilities
Fraud Prevention
Financial ratios - Astral Limited
Case Studies 0.5
Financial ratios - VRL logistics
Introduction
Statutory Liquidity Ratio
Introduction to
Non-SLR 1.5
debt securities
Other Securities
Quiz
Debt Market
Understanding
Bond Duration and Convexity 2
Bond valuation
Introduction to Debt Market
Annexure
Topics Sub -topics No of Study hours
Understanding working capital requirement
Funding Working Capital requirement
Working
capital Assessment of Working Capital 3
Financing
CMA Forms
Working capital Financing by banks
Fund Based Working Capital Products
Revolving Products
Fund based
Non-Revolving Products 3
Financing
Export Finance
Bank Considerations
Non fund based facilities
Introduction to Letters of Credit
Assessment of LC Limit
Non-fund
based Types of LCs 3
Financing
Introduction to Bank Guarantees
Performance Guarantee
Assessment of a BG
Priority sector
Introduction to the Micro, Small and Medium Enterprises
MSMEs and
Priority 2
Regulatory guidelines for Small business sector lending
Sectors
Loan Products for the small Business sector
Risk factors and mitigation
The MSME Sector
MSME Credit Ratings
Lending to
Due Diligence: A Process-Driven Approach 3
MSME I
Due Diligence: Data Sources
Due Diligence: Borrower Documents
Annexure
Topics Sub -topics No of Study hours
Credit Risk Assessment: Business Risk
Credit Risk Assessment: Management Risk
MSME
Credit Risk Assessment: Financial Risk 3
Lending II
The Portfolio Approach
Security for the exposure
Introduction to security and documentation
Aspects relating to Borrowers and/or Guarantors
Aspects related to types of Credit Facilities
Security Documentation
and Docu- Documentation aspects related to different securities 5
mentation
Charge
Security
Case Studies on Frauds relating to Charge, Security and
About NISM
In the budget speech of February 2005, the Honourable Union Finance Minister announced that the Securities and
Exchange Board of India (SEBI) should establish an institute to undertake securities markets education and re-
search. In pursuance of this mandate, SEBI established the National Institute of Securities Markets (NISM), in 2006,
as a public trust under the Bombay Public Trusts Act, 1950.
The mission for NISM is to add to market quality through educational and research initiatives that would support, en-
able and expedite an entire gamut of high quality knowledge services in the securities industry.
NISM carries out a wide range of capacity building activities at various levels aimed at enhancing the quality stand-
ards of and increasing the participation in the securities markets. Its six Schools of Excellence work in synergy to-
wards professionalizing the securities markets.
The six Schools of Excellence are:
1. School for Securities Education offers a bouquet of uniquely positioned academic programs that prepares new
age market professionals with well-rounded and holistic understanding of the markets and equips existing profes-
sionals with expertise in various functional domains like treasury, compliance, etc.
2. School for Certification of Intermediaries develops and conducts regulatory and aspirational certification examina-
tions for securities market professionals and students aspiring to make careers in securities markets. These certifica-
tions act as a benchmark of knowledge required for securities markets professionals. Every year around 2 Lakhs
candidates appear for NISM certification examinations.
3. School for Regulatory Studies and Supervision runs a range of short and medium-term training programs for mar-
ket professionals, market intermediaries and various financial market regulators to keep them abreast with the devel-
opments in the financial markets.
4. School for Investor Education and Financial Literacy takes the lead in disseminating investor education to various
strata of society. The School conducts regular investor education programs for young investors and a niche investor
education initiative for school students titled “Pocket Money Program”.
5. School for Corporate Governance conducts various programs aimed at improving Corporate Boards‘ understand-
ing of governance issues. The activities of the School aim at bridging the gap between theory and practice and em-
powering Boards with the knowledge they need to foster good governance practices.
6. School for Securities Information and Research aims at motivating and providing an enabling environment for con-
duct of top-quality research that contributes immensely to the form and structure of financial markets; helps product
innovations and deepening of the markets.
About CRISIL Limited
CRISIL is a leading, agile and innovative global analytics company driven by its mission of making markets function
better.
It is India’s foremost provider of ratings, data, research, analytics and solutions with a strong track record of growth,
culture of innovation, and global footprint.
It has delivered independent opinions, actionable insights, and efficient solutions to over 100,000 customers through
businesses that operate from India, the US, the UK, Argentina, Poland, China, Hong Kong and Singapore.
It is majority owned by S&P Global Inc, a leading provider of transparent and independent ratings, benchmarks,
analytics and data to the capital and commodity markets worldwide.
About CRISIL 1Academy
CRISIL 1Academy combines our domain capabilities into a single source of education intelligence, transforming the
workforce of the future.
In line with our mission of making markets function better, we provide comprehensive learning solutions that encom-
pass industry relevant knowledge with high impact learning content.
For around two decades, our training solutions across credit, risk, treasury, wealth management and more recently,
ESG, have imparted in-depth domain knowledge and enabled critical thinking through practitioners’ perspectives,
proprietary frameworks, case studies and analytics.
Since inception, we have trained 52,000+ professionals through 2000+ programmes in India, Sri Lanka, Bangladesh,
Africa and the Middle East, eliciting an average feedback rating of 4.5 on 5.
We offer eLearning and certification solutions to clients ranging from individuals to banks, NBFCs, AMCs, insurance
companies, regulators, large corporates, SMEs, and business schools.
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