International Treasury Management and Corporate Finance

Module 0: Introduction to Treasury Management
Speaker: Benjamin Defays / Treasury Manager

• Corporate Treasurer’s responsibilities

• Cash management (bank account opening, closing, KYC, Cash pooling, Payments and bank connectivity)

• Liquidity management (importance of working capital management, 

• Risk management (foreign exchange, fraud, credit risk)

• Trade finance (general context, intro to bank guarantees and letters of credit)

Module 1: Financial Maths in Excel (Focus on treasury & corporate finance)
Speaker: Hugues Pirotte / Professor of Finance at Solvay Brussels School

• Focus on treasury & corporate finance

• Time Value of Money

• Vocabulary

• Compounding intervals

• Discount and annuity factors

Module 2: Introduction to Corporate Finance, Valuation and Investment Decision
Speaker: Mikael Pereira / Portfolio and Valuation Manager

• Valuation Principles

• • Concept of Fair Value and Principles of Valuation

  • Financial analysis 

  • Valuation techniques used in practice

• Introduction to Investment process 

• • Introduction to Private equity funds 

  • Transaction and investment phase 

  • Investment decision

Module 3: Payments, Cash Management and Banking Relations
Speaker François De Witte / Consultant

• Payments (Process, Tools)

• Liquidity Management

• Cash-Flow Forecasting 

• In-House Banking

• Banking Relationship

Module 4: Trade Finance in context of uncertainty
Speaker: Benjamin Defays / Treasury Manager

• General contact, cultural aspects

• Why trade finance in treasury

• Bank Guarantees, Burgschafts, Surety Bonds, Letters of Credit, Cash against Documents

• Alterative security instruments 

• Disruptive technologies

Module 5: Introduction to Counterparty Credit Risk Management and Cash Collection
Speaker: Anca Vasiliu / Counterparty Risk Manager

• Concepts & Practices/Types of Credit Risks 
  

• Understanding Financial Statements and Ratios

• Credit Scoring/Ratings – S&P, Bloomberg models

• Collecting overdue receivables – setting priorities

• Strategies dealing with overdue invoices 

• Debt collection services development 

Module 6: Risk Management through Insurance

• General introduction on insurances and pensions

• Typology of insurances 

• Risk management via insurances

• Saving via insurances

Module 7: Practical Aspects of International Finance Regulation

Speaker: Lievin Tshikali  

• KYC, GDPR, EMIR, Bale III

• International sanctions and their impact on transactions & overall business activities

• Anticorruption (FCPA, UK Bribery Act)

• EU competition law compliance

• INCOTERMS

• Drafting a contract (main considerations)

Module 8: Risk Management applied to treasury
Speaker: François Masquelier/ Patrick Verspecht / Group Treasurer

• FX, Interests

• Counterparties

• Others (Reputation, etc…)

Speaker: Quentin Bodart / Senior Finance Engineer

• Objectives of Hedge Accounting
• Required documentation and formalisation of Hedge Accounting relationships
• Different types of hedges (Fair Value, Cash Flow, Net Investment)
• Booking adjustments of different hedge types
• Typical examples of different hedge types

Module 9: Technologies applied to treasury
Speaker: François Masquelier/ Group Treasurer

• New Technologies

• • Blockchain, Crypto-currencies, Smart Contracts

• Treasury Console (Bloomberg, Thomson Reuters)

• TMS, Financial Technology

Module 10: Cyberfraud: what you need to know to manage this ever increasing risk

Speaker: Thierry Hamon / Cash management & security expert 

• Getting an overview of the different cyberattacks techniques currently used

• Understand the possible consequences of cyberfraud and what needs to be protected

• Learn 50 ways to protect

Some homework might be proposed for some modules, there will be continuous control in the form of intermediary exams (under the form of QCM) and a final exam will be sanctioned by an attestation delivered by ATEL (The Luxembourg Association of Corporate Treasurers).

There might also be one or two “extra-activity”, such as a visit in a bank trading room or/and a special guest speaker addressing the cursus participants on a specific subject (still to be defined, optional events).