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ACI Dealing Certificate Training

Date: August 16 - 19, 2009

Venue: Dubai, UAE

Training Director: Gail Rolland


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Course Objectives

The ACI Dealing Certificate Training is a foundation program that allows candidates to acquire a working knowledge of the structure and operation of the major foreign exchange and money markets, including the ability to apply the fundamental mathematics used in these markets, and their core products (cash, forwards and derivatives).

The ACI Dealing Certificate is the 'benchmark' examination for treasury personnel and for those whose work requires an understanding of the workings of the treasury department of their organization. It is the first step towards qualifying for "ACI Diploma"

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Course Outline

Basic Interest Rate Calculations
To understand the principles of the time value of money. To be able to calculate short-term interest rates and yields, including forward-forward rates, and to use these interest rates and yields to calculate payments and evaluate alternative short-term funding and investment opportunities.

Cash Money Markets
To understand the function of the money market, the differences and similarities between the major types of cash money market instrument and how they satisfy the requirements of different types of borrower and lender. To know how each type of instrument is quoted, the quotation, value date, maturity and payment conventions that apply and how to perform standard calculations using quoted prices.

Foreign Exchange
To understand and be able to apply spot exchange rate quotations. To understand basic spot FX dealing terminology and the role of specialist types of intermediary. To recognize the principal risks in spot and forward FX transactions. To calculate and apply forward FX rates, and understand how forward rates are quoted. To understand the relationship between forward rates and interest rates. To be able to recognize and use quotes for precious metals, and demonstrate a basic understanding of the structure and operation of the international market in precious metals.

Forward-forwards, FRAs and Money Market Futures & Swaps
To understand the mechanics of and how to use money market interest rate derivatives to hedge interest rate risk.

Options
To understand the fundamentals of options. To recognize the principal classes and types, and understand the terminology, how they are quoted in the market, how their value changes with the price of the underlying asset and the other principal factors determining the premium, how the risk on an option is measured and how they are delta hedged. To recognize basic option strategies and understand their purpose.

Principles of Risk
To identify and distinguish between the principal types of risk in the markets, and to explain the main policies and procedures used to mitigate these risks. To understand the principles of position keeping and valuation, using spot FX as an example.

The Model Code
For candidates to have a thorough knowledge of the provisions of the Model Code and market practices, with particular emphasis on high standards of integrity, conduct and professionalism as well as the monitor and control mechanisms to be introduced to protect individuals and their institutions from undue risks and resultant losses.
 

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Training Expert - Mervyn King

Gail Rolland has been working as a financial markets trainer and consultant for the past fifteen years.  This follows a period of some ten years working in the markets themselves for several international banks in both London and New York.  During this time her hands-on experience covered many areas including FX and money markets, fixed income and derivatives, as well as providing an in-depth knowledge of the infrastructure of the banking and finance industry.  Before entering consultancy Gail studied for a MSc in Personnel Management and Business Administration in order to gain a solid theoretical base to add to her practical knowledge to ensure the best possible foundation for offering consultancy and training solutions within the industry.  As a consultant she has devised and presented training courses and presentations on many aspects of the financial markets to groups ranging in size from large conferences of 100 plus delegates to extremely tailored one-on-one training to meet a particular need of a market participant.  Topics she would regularly present cover the whole spectrum of financial markets through from providing an introduction to financial markets to more advanced sessions on, say, portfolio management strategy or credit derivatives and risk management, along with training for market examinations such as the ACI Dealing Certificate, Diploma and Operations Certificate in the fixed income area she works with  ICMA on both the newly launched Financial Markets Foundation Course and the IFID Certificate, for which she is the Distance Learning e-tutor.  She regularly delivers training in London, Europe, the United States and Asia which means she is able to provide a very international perspective on what is happening in the global markets today.  Her training assignments normally comprise tailored courses but she has also run public courses under the sponsorship of companies such as Risk Waters Group and Wall Street Technology and she is also a visiting lecturer on post-graduate finance courses at Reading University.

On the consultancy side she has provided management consultancy, particularly focussing on human resource management and business development, to many different organisations.  Projects have included training needs analysis, skills audit, employee deployment strategy, as well as developing training programmes with a particular emphasis on blended solution learning.  She has also worked with providers of financial training software such as Intuititon and Zoologic, providing both editorial and content development expertise, and has further been involved in the development of bespoke e-based training material for specific clients. 

Other consultancy assignments include strategic market sector analysis, and advising on the viability of location choices for establishment of both front and back office functions.

Topics on which Rolland Consultancy regular offers training will typically include the following:

  • Overview / Introductory courses such as introduction to banking, capital markets, risk management, technical analysis

  • Financial market infrastructure including courses designed to illustrate how financial institutions work, how departments relate with one another, and to give participants a chance to consider the workflow of various market roles

  • Capital markets, including market practice, valuation, portfolio management etc.

  • Derivatives and risk management

  • Credit risk and derivatives

  • FX & Money, including coverage of the ACI Dealing Certificate, Diploma and Operations Certificate

  • Operations and compliance

  • Selling and presentation skillsmes

  • Specifically tailored graduate program

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