is the author of an exciting book titled Global
Credit Management - an Executive Summary. In this work Ron
presents an overview of the powerful contribution that holistic credit
management can make to any business enterprise in the 21st century. This
highly readable book explains the current situation and new developments
underway in this key area of management. Also provided are detailed 'how
to' guides for professional credit managers.
Ron has 22 years of commercial, corporate banking and trade finance experience; plus 21 years of experience in international corporate credit management. He has travelled widely in Europe, the Commonwealth of Independent States (including Russia), China, Japan, Africa and the United States of America. Ron has met many credit professionals, including corporate credit executives and bank officers.
Prior to joining an integrated oil company (Chevron Corporation) in 1991, Ron Wells worked for various companies and commercial banks becoming a specialist in financial analysis, corporate credit management, trade operations management and trade finance-related marketing. Working as a London-based Credit Manager in Chevron's Supply and Trading division for 16 years, Ron acquired experience dealing with transactions that spanned the globe and counterparties that operated worldwide, many in emerging markets. In October 2007, Ron joined a globally active energy trading company (RBS Sempra Commodities) in London, as Vice President - Credit Risk Management, to support Gas, Power (Electricity), Coal, Oil, Metals, Plastics, Freight Forward Agreements, Freight, Iron Ore Swaps and Emissions Credits physical and derivatives trading activities. On July 1, 2010 Ron was appointed Executive Director of Counterparty Risk Analysis and Portfolio Management EMEA, with J.P. Morgan’s Global Commodities Group when the latter purchased RBS Sempra Commodities. In early February 2011 Ron relocated to Singapore where he joined Cargill International Trading Pte Ltd as Asia Credit Manager for the Energy, Transportation and Metals Platform (Division) until the end of December 2011. In April 2012 Ron joined Standard Chartered Bank to support the Traded Credit Risk Management team in the Financial Markets division of the Wholesale Bank. In December 2012 he switched over to support the Chief Operating Officer - Commodities.
Ron is a Certified Credit Executive (CCE), a Chartered Management Accountant (ACMA), a Chartered Global Management Accountant (CGMA), a qualified International Banker (ACIB) and a Chartered Corporate Secretary (FCIS). He participated in the NACM Graduate School for Credit and Financial Management (GSCFM) in 1995/96, passed with distinction and was elected Best Student.
The National Association of Credit Management (NACM) is the premier association for professional Credit Managers; it is based in Maryland, U.S.A.
The NACM Graduate School is conducted on the campus of Dartmouth College (Amos Tuck Business School) in New Hampshire. It consists of preparatory reading followed by two two-week semesters in following years, plus an inter-semester team-based project.
The Certified Credit Executive (CCE) qualification is the most senior professional qualification accredited by NACM. It is a post graduate qualification attained by passing a written examination, which may only be attempted by those who have relevant work experience and academic qualifications. In order to retain the CCE qualification all holders must obtain a certain number of Continuing Education Units (points) during each successive three-year period.
Ron has travelled widely in Russia, the former Soviet Union, Europe, China and Africa, as well as North America, meeting bankers and customers. He has studied Russian and French, is learning Mandarin Chinese, and has learnt a little of several other languages.
His experience with the integrated oil and the energy trading companies covers all credit aspects of international physical cargo transactions; crude oil, liquefied petroleum gas and refined petroleum products, natural gas trading, liquefied natural gas trading, power trading, metals trading, emissions credits trading, lubricant marketing transactions (marine and inland) and technology marketing transactions.
Ron’s in-depth understanding of structured and unstructured trade finance techniques, of banking law, regulation and practice, of commerce and business generally and his extensive network of professional relationships, have resulted in the completion of several unique and highly prized solutions to risk management and financing challenges.
Ron has had several articles published in
professional magazines. His paper on "The Use of Payment Undertakings and
Risk Sharing Agreements as an Alternative to Letters of Credit" (published
by Business Credit®) was particularly well received.
Ron is an active member of FCIB (the Association of Executives in Finance, Credit & International Business) in Europe. He has been a Moderator, a Panel Member and a Speaker at FCIB Conferences and Workshops on several occasions. He presented his papers on Practical Country Risk and Bank Risk Management at a workshop in Vienna, moderated a lively discussion on "The Role of the International Credit Manager in the 21st Century in Rome, and presented his Generic International Trade Credit ScoreCard for discussion in New York. Ron's presentation in New York was extensively reported by the Institute of Management & Administration (IOMA) in its "Managing Credit, Receivables & Collections" magazine, in January 2001 (Issue: 01-01).
In June 2001, Ron presented his ideas regarding the future of international credit management to the annual conference of the International Energy Credit Association (IECA) in Dublin, Ireland. His related paper There is a better way to manage your Credit Department, it just hasn't quite been invented yet ... was subsequently published in the IECA Spring 2002 Journal.
The same paper was also published by Cornhill Publications in association with PricewaterhouseCoopers, in Corporate Advantage Europe 2002 - Organic growth strategies for a brighter future, under the title "Vision, passion and persistence - Commercial credit managers should set aside time to think about what would make their jobs more meaningful, and start inventing the future".
In March 2004 Ron led the Forensic Cash Flow Analysis and Strategy modules of the highly acclaimed Power of Credit course that provided inter-active lectures and hands-on syndicate projects, enabling participants to acquire practical skills and key knowledge from leading practitioners.
In May 2006 Ron led the two and a half day Power of Credit 2006 workshop covering Strategy (predicting corporate failure by developing scenarios; also known as 'stories of the future'), Accounts Receivable Portfolio Management, and Forensic Cash Flow Analysis™.
The Power of Credit workshops are recommended by FCIB and organised by Infospectrum Limited in association with BarrettWells Credit Research. Click on this link (http://www.barrettwells.com/pofc2006.html) for more information.
Ron is a member of the European Advisory Council of the association of Finance, Credit and International Business (FCIB).
Ron presented a paper on the subject Credit Management in 2015 at a prestigious Conference held at the Kurhaus Hotel, Scheveningen (near Rotterdam and The Hague) in The Netherlands, on May 24, 2005. Three hundred credit management professionals and business executives attended. Follow this link to view the PowerPoint used during the presentation and a written report published by the organisers.
In September 2007, Ron presented a bilingual (English and Chinese) paper titled Country Risk Management together with Ms Ming LI, at the 4th China International Credit and Risk Management Conference in Shenzhen, People's Republic of China.
In March 2008, Ron delivered the Keynote Speech at the Annual Credit Management Conference in Noordwijkerhout, The Netherlands; titled Credit Management 2.0
In October 2008, Ron presented a paper on China: A Review of Developments in Credit Management to the International Stream of the annual CCR-i Credit Risk Conference
In August 2009 Credit Collections &
Risk Magazine published Ron's article
Read Taleb’s Black Swan*?....twice?…..so now what?
In this article Ron discusses what
Nassim N Taleb's Black Swan concept may mean for
someone in the business of Credit (Performance and Payment) Risk Management.
Click the link
and read the article to uncover one possible answer. Click here
for the Chinese version of the article. Order the book
In September 2010 Ron presented The
Art of Assessing, Quantifying and Managing Buyer or Supplier Future Physical
. In the course of this presentation it was submitted that p
. In the course of this presentation it was submitted that physical Performance Risk is not the same as Payment Risk so it is not correct to apply the same Probability of Default, Potential Future Exposure at Default, and Loss given Default measures to both. The current general practice of applying the same measures to both leads to an erroneous, usually exaggerated, assessment of the risks related to future physical performance. An alternative method was proposed in order to answer the often heard response that 'there is no other way', and to initiate a debate. This was presented at the 3rd Annual Credit Risk in Energy Trading Conference. An extended article on this subject may be accessed by clicking this link: English; or for the Chinese version click this link: Chinese.
In September, October and November 2011, Ron presented a three part Guest Lecture Series on the subject Strategic B2B Credit Management, on behalf of the International Trading Institute of the Singapore Management University.
On February 22, 2012 Ron
presented a paper titled Risk
Management Techniques & Tools
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