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What is the 6 Sigma Credit Risk Store?

What is the 6 Sigma Credit Risk Store?

The 6 Sigma Credit Risk Store is the latest business project of the 6 Sigma Group, which was founded by Ramzi Watfa in 2002. Given the wealth of knowledge and experience developed by Ramzi and his group of companies under the 6 Sigma umbrella, and after building a huge name in the Middle Eastern market, the next logical step was to start offering credit risk programs and courses online through E-learning solutions for worldwide access.

Who is Ramzi Watfa?

Ramzi Watfa, who is the Founder and Managing Director of 6 Sigma Group and published author, is a corporate banker with over twenty-five years banking experience. Ramzi holds a dual citizenship of Britain and Lebanon and currently resides in the UAE.

He is a graduate from London University, with a Master’s in Management Science from Imperial College, London and a Bachelor’s in Electronic Engineering and Computer Science from King’s College, London.

Ramzi started his career in the City of London with the Royal Bank of Canada and was instrumental in introducing what was then a first-class MIS asset management system into the Europe, Middle East, and Africa region. He then joined the marketing team in the UK targeting large UK national companies. Ramzi was later posted to Dubai in 1987, with responsibilities for handling branch operations, and corporate and financial institutions’ accounts for the Royal Bank of Canada across the Middle East and Africa. Following a short period at a local national bank, he then joined Citibank in 1995 in their corporate banking sector, which he subsequently managed for the UAE until 2002.

In 2002, Ramzi left Citibank to establish 6 Sigma Group, through which he has devoted the years since sharing his wealth of knowledge with bankers and corporate officers across the Middle East, Africa and Europe. The company was incorporated in the Dubai International Financial Center.

Ramzi has done one-on-one tutoring for CEO’s, participated in high-level forum discussions with board members and senior executives from a variety of corporations and banks, as well as entertained the development of the talent pipeline of the future through the training of fresh graduates and entry level bankers.

What is the business of 6 Sigma Group?

The group Ramzi established is essentially involved in six businesses:

1. Consultancy for Bankers with 6 Sigma’s “Road to Basel” program that spans the entire banking business. The group conducted several of these consultancies in emerging markets. The program has since been renamed “Beyond Basel”.

2. Training for Bankers, covering all products, with notable emphasis on credit through the signature Credit and Relationship Management program.

3. HR Competency Assessment where the entire credit hierarchy of a bank is assessed in terms of technical skills, and a training program devised to ensure development of these competencies.

4. Credit Rating Agency that rates corporate and commercial clients, produces credit applications, industry studies, product programs, and target market studies. Prior work involved the outsourcing of credit for both Saudi and UAE clients, and production of several Industry Studies in both Lebanon and UAE.

5. Ownership and Management of the Credit Risk Management System (CRMS) a multilingual system that currently provides the following:

  • a) Financial analysis including recommended limits and structure for obligors based on their rating
  • b) Risk Rating of SME, Commercial and Corporate obligors
  • c) Credit Automation that cuts the production of credit applications from days to literally hours
  • d) Portfolio Risk Rating (PRR), Stress Testing, and Concentration Risk Calculation

6. Corporate Finance in which businesses are evaluated and opportunities for private placement activities are identified.

The group’s motto is: bankers serving bankers.

Where is 6 Sigma Group located?

The company’s head office is in Dubai International Financial Center (DIFC), with offices in Beirut, Lebanon and a development team operating in Amman, Jordan. The company also has representations in Turkey, France, USA, Central America, and Africa.

What are some of the projects executed by 6 Sigma?

  1. “Road to Basel II” consultancy for 5 financial institutions
  2. 3 Year Strategy Plan for a bank in Bahrain
  3. Diagnostics for financial institutions in Kuwait, Qatar and Lebanon;
  4. Retainership for Financial Advisory in the Media Sector
  5. Retainership for Financial Advisory in the Telecom Sector
  6. Creating a feasibility study for a leasing program
  7. Industry studies and Product Programs for banks in the region
Training Turning Graduates and Basel I employees and turning them into Basel II Cadets
  1. 12-18 months Induction and Management Associates Programs
  2. 4-6 weeks Credit & Relationship Management Programs
  3. Advanced Financial Management Programs for Senior Management
  4. Intermediate Credit Courses for Unit Heads
  5. Coaching for CEOs
  1. Risk Management Workshops
  2. Early Problem Recognition and Remedial Management
  3. Strategic Salesmanship and Marketing
  4. SME Credit and Portfolio Management
  5. Due Diligence Training and Corporate Valuations
  6. Treasury Management Simulation Game
Investment Banking
  1. Introduction to Investment Bank and Wealth Management
  2. Introduction to Derivatives and Capital Markets
  3. Real Estate Lending and Finance
  4. International Trade Services and Products / Structured Trade Finance
  5. Islamic Finance
  1. Leadership Skills
  2. Managing People
Credit Rating Agency
  1. Credit rating and facility structuring for medium sized companies in Saudi Arabia
  2. Portfolio evaluation for a bank in Lebanon
Risk Rating System
  1. Leased and Owned by numerous banks in the Middle East region
Equity Structuring
  1. Gulf-wide Media Group Consolidation and Merger with third party
  2. Investment due diligence on behalf of an investment company in Abu Dhabi
  3. Investment due diligence for an IT company in Dubai
  4. Investment due diligence for a merger within the media sector in UAE
  5. Investment due diligence for an acquisition of a PR company
  6. Investment due diligence for a merger within the media sector in Egypt
  7. Due diligence on a potential acquisition of an exchange house
  8. Purchase due diligence of a ready-mix cement producer
  9. Sale of a manufacturing company in Dubai.
  10. Sale of a medical centre in Dubai
  11. Sale of a fashion house in Dubai
Debt Structuring
  1. Debt structuring on behalf for a project in Abu Dhabi
  2. Legal due diligence for a company in Abu Dhabi
  3. Arranging credit facilities to a manufacturing companies in Dubai and Saudi Arabia
  4. Arranging a Factoring of Receivables program for a regional telecom company.

Who are some of 6 Sigma’s clients?

Training has been executed by the 6 Sigma Group for numerous institutions such as Citibank, SAMBA, The National Commercial Bank Saudi Arabia, Al-Saudi Al-Fransi Bank, Arab National Bank, Bank Al Jazira, Al Rajhi Bank, National Bank of Kuwait, Kuwait Finance House, Emirates NBD Dubai, First Gulf Bank Abu Dhabi, Abu Dhabi Islamic Bank, Bank of Beirut, Bank Audi Saradar, Bank Med, Banking Control Commission of Lebanon, Banque Libano-Francaise, BLOM, Credit Bank, Credit Libanais, First National Bank, Fransabank, Lebanon Gulf Bank, Arab Bank Jordan, Jordan National Bank Amman, Housing Bank for Trade and Finance Jordan, Ecobank (West Africa), The Trust Bank of Ghana, The Millennium Bank (Romania), The Romanian Banking Institute.

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