Founded in 1996, R&F provides lender due diligence and field examinations consulting services to global money banking corporations, regional and middle market banks, asset-based lenders, finance companies, factors, leasing and floor plan lenders, private equity groups and hedge funds. The borrowing facilities that we analyze can range from zero for a start-up to multi-billion dollar sprawling organization.
In today’s complex lending environment, financial institutions face increasing challenges in assessing and managing risk. As banks extend credit facilities to energy traders, commodity businesses, and other asset-heavy industries, ensuring the accuracy and reliability of collateral valuations is more important than ever.
Field examinations remain the cornerstone of effective asset-based lending risk management, but the landscape has evolved dramatically since the early 2000s. While the fundamental purpose remains unchanged—providing lenders with unbiased, factual information about current or prospective borrowers—today's examinations must navigate digital workflows, complex supply chains, and sophisticated data analytics while maintaining the human insight that separates quality examinations from routine checkbox exercises.
Field examinations provide specific and timely facts to the lender regarding the borrower’s collateral. The results of the field examination are used by the lender in conjunction with the CPA’s financial statements to help the lender manage its relationship with the borrower. This article discusses different aspects of a field exam.
Jessica is a senior field examiner at Rosenberg and Fecci Consulting, a New Jersey- and Connecticut-based financial services firm focusing on collateral field examinations. She was recognized by The Secured Lender: The Women in Commercial Finance Issue as part of their 40 under 40 talent.
Julia Voytovych is a senior consultant working from the Connecticut office of Rosenberg and Fecci Consulting, LLC. In 12 years with the firm, Julia has taken on increasing responsibilities as an analyst, senior analyst and in her current position as a consultant. She was featured in this article in the Secured Lender: The Women in Commercial Finance Issue.
Michael Ticehurst is a partner and field exam manager for Rosenberg and Fecci Consulting, LLC, with 17 years of field exam experience. He was featured as part of the 40 under 40 in The Secured Lender: CFA 40 Under 40 Awards Issue.
Upon his retirement, Joe Amorin is a former Northeast region field exam manager for JPMorgan Chase (Chase Business Credit), sat down with me to answer some questions and impart some knowledge regarding field examinations. Our sit down was published in The ABF Journal, July/August 2014 edition.
The issues discussed here are found in many different industries. However, if a lender or an examiner has a relationship with a technology company, particularly are seller, it should consider all the issues during their due diligence and ongoing analysis. This article was published in The Secured Lender, July 2005.
The field examinations industry has changed for the better over the last 20 years. The process and the examiner have become more sophisticated. The vendors have flourished and the final reports are being used by a wider audience and carry considerably more impact.
What makes a great field exam? This article written by our managing partner and published in The Secured Lender explores the approach and role of the field examiner.
This article was written by our managing partner and was published in August 1997 in The CPA Journal. It discusses the need for financial institution field examinations.
