Course Objectives

A well-trained and efficiently organized Treasury Operations Department is essential to complete every transaction. The Operations Department provides a vital service to the Front-Office by ensuring that all funds flow in a timely and correct manner and that all the necessary documentation is completed.

Taking into consideration the wider job function of the Operations Staff, this examination has been designed to provide a benchmark for competency in all aspects of the operations and settlement processes. It aims to test candidates’ knowledge of the underlying instruments involved in the international financial markets, the processes for efficient settlements and related basic financial calculations. Candidates should also be able to demonstrate appreciation of the scope, importance and the role of the Operations Department, particularly in ensuring an autonomous service to the Front-Office.

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Overall financial market and front to end treasury view
To describe the roles of each participant within the financial market and to provide an understanding of how Treasury Trading and Sales, Middle-Office and Operations have to be structured in the risk management context. To give an understanding of how the whole transaction process management can be optimized as well as to explain the importance of providing a quality, customer-orientated service to both internal and external clients.

Deal capture, trade entry and confirmations
To explain the payment and confirmation process that follows deal capture and trade entry; list the problems that can arise if mistakes are made; describe how different clearing and payment systems can impact on risk; show an understanding of the correct source of trade information.

Settlement, netting and clearing
To explain the importance of the different settlement and payment systems as well as the use and handling of the correspondent network and accounts.

Reconciliations and investigations
To explain the methodology used to match at least two different records, using the same information to identify and investigate differences and taking corrective action when necessary. To explain the way how to proceed to settle outstanding items.

Treasury systems and data management
To explain the essentials of a treasury system, the data management for treasury operations as well as the basic accounting of treasury operations.

Risk management, controls, compliance, documentation
To explain the importance of having strict procedures and controls in place to ensure that no unauthorized or incorrect payments are made and to protect the business from related risks. To describe the purpose of documentation in settling financial transactions.

Foreign exchange
To describe the characteristics of foreign exchange instruments and specific responsibilities and settlement processes associated with them.

Money market
To explain the characteristics of the major money market instruments, specific responsibilities and settlement processes associated.

Derivatives
To explain the specific features of exchange-traded and Over The Counter (OTC) derivative markets as well as the characteristics of optional and non-optional derivatives, including the specific responsibilities and processes associated with them.

Short-term bonds and notes
To explain the characteristics of short-term debt instruments, notes and bonds as well as the specific responsibilities and processes associated with them.

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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 skills

• Specifically tailored graduate programmes

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