Structured Finance


Duration: 2 days


This seminar describes securitization and the analysis of transactions, based on three pillars: the underlying pool of assets, the transaction structure, and the legal aspects. It covers both the general principles found throughout the securitization market, as well as specific characteristics of several of the main asset classes, including residential mortgages, consumer loans, and corporate debt. The course also gives an overview of the publicly available credit rating methodology and monitoring practices of our sister company, Moody’s Investors Service. The course employs a combination of instructor-led sessions, case studies, group exercises, computer-based simulations and discussions.

Learning Objectives

Upon completion of this workshop, delegates will be able to:

  • understand the mechanics of a securitization transaction, including the role of the major participants interpret the varying rationales of market participants for issuing or buying securitized product understand the different cash-flow and asset-loss allocation mechanisms in securitizations.
  • identify the credit enhancement mechanisms found in structures.
  • anticipate the main legal issues that are likely to arise regarding securitization.


Day 1

  • Session 1: Introduction to Securitization
  • Session 2: Securitization Risk Assessment
  • Session 3: MIS rating methodology for securitization
  • Session 4: Asset Backed Securities
  • Session 5: Residential Mortgage-Backed Securities


  • Session 6: Collateralized Debt Obligations
  • Session 7: Credit Commercial Mortgage-Backed Securities
  • Session 8: Asset Backed Commercial Paper
  • Session 9: Rating Theory & analysis in action