Getting paid for what you deliver is essential to maintaining a healthy cash flow, but there are always businesses that don't have the means to secure outstanding amounts.
The University of Hong Kong's School of Professional and Continuing Education (HKU SPACE) is now pioneering an executive diploma programme in asset-recovery law and receivable and fraud-control practice － the first of its kind in Asia-Pacific, offered in partnership with leading collection service provider Receivable Management Services (HK) Ltd (RMS).
The programme offers a premier learning opportunity for business executives to boost their legal knowledge and academic qualifications in risk management. Graduates can achieve the qualified RMS-Receivable Practitioner designation under RMS's worldwide network.
Designed for executives and officers in the multi-disciplinary work environments in accounting, finance, institutional and business, the programme emphasises debt-collection law and anti-fraud investigation. Other aspects include risk analysis in China commercial law, collection, letters of credit, receivable management and financial regulatory compliance.
According to Zoe Chan, programme director, Division of Law, HKU SPACE, the trade market is changing rapidly as a result of globalisation, bringing complex issues in international trade disputes and receivable management. The programme design should facilitate benchmarking and promotes best practice at work.
Deborah Ho, managing director, Hong Kong and China, RMS, adds that the demand for receivable management remains constantly high, regardless of economic trends. In Hong Kong alone, her customers' average portfolio can amount to HK$1.5 billion every year.
In many instances, experienced receivable executives powered with cross-disciplinary knowledge and practical legal skills are in great demand in the receivable-management market.
"The academic discipline is a popular management subject in Europe and the US and we hope to promote it locally to help Hong Kong businesses thrive. The unique programme offers comprehensive training, leading to a post-graduate business qualification," states Ms Chan.
Integrating real-life cases and industry experience, the programme emphasises practical legal skills and risk control in corporate governance. It focuses on the rule of law in the economic integration of receivable markets in mainland China and the rest of the world. Students will also be trained to identify possible business risks and to secure accounts receivable. In addition, they will study fraud-control tactics, as well as the development of effective policy measures.
Innovative teaching methods such as simulated mock trials, "practice clinics" and role-play will provide real-life scenarios for students to hone their skills. Performance will be assessed through course work and non-exam exercises.
The programme is supported and sponsored by 12 key local and international professional organisations such as the Law Society of Hong Kong, whose solicitor delegates will receive CPA points.
Ms Ho believes that this academic qualification will assist students in bringing receivable expertise in-house, adding value to companies by strengthening their financial health.