Restructuring certificate for Master's program at FH Kufstein Tirol
TMA Germany is a member of the international umbrella organization Turnaround Management Association, headquartered in Chicago, United States. The German TMA was founded in 2006 and soon became an important restructuring body. Corporate restructuring is more than simply responding to a crisis. It comprises a number of measures to provide sustainable support to crisis-ridden companies.
The TMA certification for training initiatives was developed in 2012 and is designed to ensure high quality standards for the training of risk-aware restructuring managers, who usually assume great responsibility. The certification has only been awarded twice so far. It was presented to the Director of Studies, Prof. (FH) Dr. Markus W. Exler, at the 10th Annual TMA Germany Conference.
Professional restructuring with vision
The requirements placed on restructuring managers have become ever more complex from a legal as well as a commercial perspective. "Therefore, we need highly skilled and trained restructuring managers who have the necessary expertise and vision – also for cross-border restructuring processes," explains Eva Ringelspacher, Chairperson of the TMA Certification Committee.
The goal of the part-time Corporate Restructuring Master's program at the FH Kufstein Tirol Restructuring Institute is to provide all students with this expertise and vision. In addition to the certified Master's program, the innovative institute also offers an International Turnaround Professional (CITuP) course as well as advanced research and consulting services.
Certificate of excellence based on detailed evaluation
"The TMA certification clearly shows that we offer state-of-the-art training on a national and international level. We have created a highly visible competence center for restructuring which is known beyond our national borders. We are very happy to receive this certificate," says Prof. (FH) Dr. Exler, Head of the Restructuring Institute.
The TMA certificate is awarded based on a number of criteria. A comprehensive requirement catalog* lays out the content that the training product should contain. Moreover, randomly chosen visits to classes gave the TMA Commission insight into the teaching culture at the institution. Another building block of the evaluation was a comprehensive presentation before the Certification Committee.
"Due to the strict evaluation criteria, the certification process took an entire academic year. I would like to express my gratitude to the TMA certification team for the in-depth exchange of knowledge and the valuable feedback which we will certainly use for further optimization. I would also like to thank the team from my institute. Their commitment has made it possible to obtain this certification," concluded Professor Exler.
Comprised CITuP immersion course provides extensive expertise
The comprised International Turnaround Professional (CITuP) advanced training course is another program offered at the institution. It uses the same didactic approach as the TMA-certified Master's program and is taught by the same staff. The certificate-based course takes place three times on three days and is tailored to the requirements of professionals in the field. In this in-depth course, participants acquire detailed knowledge of operational and financial restructuring processes as well as relevant legal provisions. Cross-border aspects, interdisciplinary specializations, and professional networking are additional elements of the program. Prof. (FH) Exler explains, "The course allows professionals to detect crisis situations in a company at an early stage and to launch relevant reorganization measures in order to achieve the desired level of return and competitiveness.”
* Catalog of criteria for the TMA certification for restructuring:
- Strategic elements of restructuring (crisis theories, causes of crises, etc.)
- Operational restructuring (performance-related aspects)
- Financial restructuring (company perspective, balance sheet and tax-related aspects), bank perspective (guarantees, maturities, etc.)
- German Insolvency Code/ESUG Act on Facilitated Corporate Restructuring
- Labor law
- Selected company law aspects
- Liability of different organs
- Crisis communication
- Distressed Mergers & Acquisitions (M&A)
- Design and content of restructuring concepts/reorganization assessments
Further information can be found at: Restructuring Institute