Treasury Management Training Course

Treasury Management Overview

 Corporate strategy and the treasurer
 Understanding where corporate value comes from
 The role of the treasury and treasurer:
o raising capital
o managing bank relationships
o money management
o managing (corporate) risks
 Treasury organization and structure
 A treasury control framework
 Treasury performance management
 Complying with Sarbanes-Oxley
 Corporate credit ratings

Capital Markets & Derivatives Training specialize in developing and delivering bespoke in-house training
courses and programs. 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

Cash Management

 Cash management objectives
 Cash flow forecasting
 Working capital management
o Why working capital is important
o How working capital can be optimized
 Excess liquidity: short-term investing
o investment objective
o investment policies and guidelines
o the investment decision process
o deciding on the maturity structure
 Using longer-dated instruments: rolling down the curve
 Short-term borrowing
o policy and objectives for short-term borrowing
o short-term borrowing instruments

Raising Capital (1)
Loan Finance

 Types of loan finance
o committed v uncommitted facilities
o bilateral/syndicated/cub
o term/revolver
 Issues in loan documentation
o availability
o fees
o margins
o gross-up provision
o representations and warranties
o covenants (undertakings)

Debt securities

 Raising funds with long-term debt
o rolling CP programs
o MTN programs
 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

Raising Capital (2)
Equity Funding

 Equity instruments
o ordinary shares
o preference shares
o warrants
 Issuing equity in the primary market
o underwriting v book-building
o stabilization
 Secondary offerings
o pre-emption rights
o placements
o rights issues
 Managing the equity base
o bonus issues
o share buy-backs
 The role of dividend payments
o Alternative Forms of Financing
 Asset finance: secularization
o what is secularization and why securities?
o what can be secularized?
o who should securities?
o case studies of secularization deals
 Asset finance: leasing
 Project finance
o rationale
o sources of project finance

Risk Management
Guide to Risk Management

 Why manage financial risk?
 Principal treasury related financial risks
 The management of financial risks
o identification of financial risks
o measurement and ranking of treasury risks
 Managing risks
o best practice reporting
 Enterprise risk management
 Accounting issues: IAS 32 and 39; FAS 133
o Currency Risk Management
 Identifying the risks
o accounting risks: What they are and why they are important
o pricing risks
o strategic risks
 Using forwards and FX swaps
 Using options
 “Exotic” variations