Objective
On completion of the workshop, participants will be able to:
- implement an effective treasury management policy
- manage the treasury function in both a banking and a corporate environment
- understand the analytical framework of interest rate and foreign exchange risk management
- confidently apply financial derivatives as risk management instruments
- develop familiarity with Value at Risk (VaR) concepts and application
- understand important regulatory developments relevant to the treasury function.
Features
- Interest rate and foreign exchange risk management principles exposed
- Key treasury financial control issues pinpointed
- International financial markets interdependencies clarified
- Financial markets jargon demystified
2 Day Treasury Management workshop
The three day Treasury Management workshop is also available in an abridged two day version.
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Day 1
Treasury policy setting and financial management
The treasury management environment
Treasury management issues
- Structural considerations
- Strategy
- Policy formulation and implementation
- Vital treasury limits and controls
Money markets and liquidity management
- Liquidity assessment
- Yield curves
- Forward curves
- Market dealing practice
- Investment policy
- Counterparty risk
- Credit ratings
Finance
- Cash forecasting
- Optimal capital structure - appropriate debt to equity ratio
- Medium and long term debt
Day 2
Managing fundamental treasury risks
Managing interest rate risk
- Interest rate risk identification
- Interest rate hedging instruments
- futures
- forward rate agreements
- swaps
- options: caps, collars, floors
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Managing foreign exchange risk
- Spot foreign exchange
- Forward foreign exchange contracts
- Dealing in foreign exchange markets
- Non-deliverable forwards (NDFs)
- Foreign exchange market swaps
- spot against forward
- forward-forward
- Currency options
Managing commodity price risk
Capital markets transactions
- Long term swaps
- rationale
- interest rate swaps
- cross-currency swaps
Asset and liability management and treasury performance measurement
Asset and liability management
- Managing working capital and liquidity
- Debt management
- Capital adequacy considerations:
- sources of capital
- liquidity indices and ratios
- gap analysis
- duration analysis
- Credit risk
Treasury performance measurement
- Defining benchmarks
- Mark-to-market
- Value at Risk (VaR)
- Implications of IAS 39
- fair value accounting
- transaction valuations
- establishing hedge effectiveness tests
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