Professor Dr. Ottmar Schneck, Prof. Dr. Schneck Rating GmbH, Reutlingen
Professor Dr. Otmar Schneck is professor of banking, finance & rating at the European School of Business (ESB) in Reutlingen. He is also supervising director of the Institute for European Business Studies (IEWS) and academic director of the Rating & Finance Institute Rafin of the Steinbeis University in Berlin. As a result of his outstanding experience on issues of financing and credit risks he is a guest lecturer at numerous institutions of higher education (for instance St. Gallen Master, SHB Berlin ect.). Prof. Dr. Schneck is the author of many textbooks and publications on financing and rating issues. He also is a member of supervisory boards for a number of medium-sized enterprises, auditing firms and professional institutions. In 2002 he has founded the Prof. Dr. Schneck Rating GmbH in Reutlingen. Since then this company has developed itself to a well known rating agency for SME companies in Germany and other countries. The software R-Cockpit of the Prof. Dr. Schneck Rating GmbH is used for supplier ratings within the automotive and many other industries.
Ratings are no longer the only domain of commercial banks. Banks have their Basel II worries; insurance companies Solvency II and the so called OEM (Original Equipment Manufacturers) have learned that the default of a supplier could cause considerable losses. As an example, one hour of production stop will cost Daimer Chrysler approx. 1 million. For an OEM it is not possible to look only to the quality and the duty to deliver but they have to consider the probability of default of the supplier as well. In his speech, Prof. Dr. Schneck will share his experience with his cooperation of the VDA (the German professional association of the automotive industry) regarding the introduction of ratings within the purchasing management. Together with the VDA he invented the so called VDA rating standard, which is used at all OEMs in Germany and meanwhile in a lot of important OEM in many other countries. A rating has already become a part of purchasing excellence. Therefore the speech of Prof. Dr. Schneck will not only be of great interest for bankers or financials, but also for members of the automotive industry and purchasing managers as well.
19. April 2007