Capital Markets & Derivatives Training specialise in developing and delivering
bespoke in-house training courses and programmes. This sample course outlines the
content and structure of a typical course.
| Objective: |
This course sets out to provide delegates with a comprehensive
understanding of how to manage treasury affairs with a detailed look at the
various financial markets and instruments that can be traded. |
| Course aims: |
- Explain the role and objective of the treasury operation
- Show how to manage cash flows and different types of risk
- Explore the different ways of raising debt and financing
|
Treasury Management Overview
- Corporate strategy and the treasurer
- Understanding where corporate value comes from
- The role of the treasury and treasurer:
- raising capital
- managing bank relationships
- money management
- managing (corporate) risks
- Treasury organisation and structure
- A treasury control framework
- Treasury performance management
- Complying with Sarbanes-Oxley
- Corporate credit ratings
- Cash management objectives
- Cash flow forecasting
- Working capital management
- Why working capital is important
- How working capital can be optimised
- Excess liquidity: short-tern investing
- investment objective
- investment policies and guidelines
- the investment decision process
- deciding on the maturity structure
- Using longer-dated instruments: rolling down the curve
- Short-term borrowing
- policy and objectives for short-term borrowing
- short-term borrowing instruments
- Types of loan finance
- committed v uncommitted facilities
- bilateral/syndicated/cub
- term/revolver
- Issues in loan documentation
- availability
- fees
- margins
- gross-up provision
- representations and warranties
- covenants (undertakings)
- Raising funds with long-term debt
- rolling CP programmes
- MTN programmes
- The eurobond market
- Methods of issuing securities
- Public offerings v private placements
- Bond issuance via syndication
- Advantages and disadvantages of debt securities
Introduction to Bond Risk Management
- Why measure interest rate exposure?
- What influences a bond's price
- Macaulay duration
- The convexity adjustment
- Present value of a basis point
- Equity instruments
- ordinary shares
- preference shares
- warrants
- Issuing equity in the primary market
- underwriting v book-building
- stabilization
- Secondary offerings
- pre-emption rights
- placements
- rights issues
- Managing the equity base
- bonus issues
- share buy-backs
- The role of dividend payments
Alternative Forms of Financing
- Asset finance: securitisation
- what is securitisation and why securitise?
- what can be securitised?
- who should securitise?
- case studies of securitisation deals
- Asset finance: leasing
- Project finance
- rationale
- sources of project finance
- Why manage financial risk?
- Principal treasury related financial risks
- The management of financial risks
- identification of financial risks
- measurement and ranking of treasury risks
- Managing risks
- Enterprise risk management
- Accounting issues: IAS 32 and 39; FAS 133
- Identifying the risks
- accounting risks: What they are and why they are important
- pricing risks
- strategic risks
- Using forwards and FX swaps
- Using options
- "Exotic" variations
