From 10 Sep 2018 to 14 Sep 2018    Workshops Package "Bank Management : Key Operational Aspects" Risk Management in Banking    in Vietnam : place to be defined by organising counterpart / Vietnam

Capital Markets and Financial Instruments: CAMFIN Certificate

in cooperation with the House of Training Quality Circle ICMA Luxembourg (International Capital Market Association).

For several years, with the technical expertise of ICMA Luxembourg, IFBL organises a high standard one-week residential training seminar in Luxembourg about capital markets and financial instruments (CAMFIN Level I). The primary objective of this practically oriented programme is to enable participants to thoroughly deepen their knowledge of the international financial markets, instruments and implications.

Objectives

The primary objective of this course is to enable participants to acquire an in-depth knowledge and understanding of international financial markets, instruments and their implications.

The ICMA – Prefoundation Programme is a one-week residential training on international securities markets instruments. It covers the following subjects:

  • Practical Applications and Bond Portfolio management
  • Financial Analysis
  • Repos and Swaps
  • Securities Clearing, Settlement and Custody
  • Options
  • Structured Products
  • Risk Management

Methodology

The programme combines 2 parts:

  1. An E-learning course "International Financial Market" (approx. duration: 10 hours) with a final test. Participants are required to take this course and pass the test before the beginning of the 2nd part.
  2. An instructor-led training (ILT) in Luxembourg, during which industry experts will teach the subjects in a highly interactive way. Theoretical lectures will be combined with practical examples, exercises and case studies. The training is ending with a final written exam.

Target group

This seminar targets both front-office and back-office personnel of banks and financial institutions with less than 4 years of practical experience in the industry as well as for job starters having a good basic knowledge of the markets and products. The programme is also open to anyone within the industry who would benefit from an intensive and in-depth analysis of international securities provided by specialists in the field.

Knowledge assessment

Part 1: E-learning non-eliminatory test: prerequisite for the participation in the Luxembourg course.

Part 2 (in Luxembourg): the participants will have their newly acquired knowledge validated through a written exam.

Successful candidates will be granted a « CAMFIN certificate ».

Location & Duration

in Luxembourg: 5,5 working days

Detailed programme Explode

1. Applied Mathematics on Fixed Income Products, Bonds and Futures on Bonds

  • Pricing of bonds
  • Term structure of interest rates
  • Bond Futures and hedging techniques

2. Practical Applications and Bond Portfolio Management

  • Return expectations
  • Management Strategies
  • Diversification
  • Currency as asset class
  • Performance contributors and measurement

3. Financial Analysis, Equities

  • Equities: definitions, different markets, attributes
  • Stock market quotation and orders
  • Biggest stock markets, biggest indices, Euronext, Luxembourg
  • How to create a stock index
  • Stocks in portfolio management
  • Stock market aggregates, Sectorial distribution
  • Stock market and Equity valuation
  • Technical analysis
  • Relevant websites

4. Repos and Swaps

  • Repos
  • Definition
  • Flow Chart
  • Terms of the agreement
  • Collateral
  • Margins
  • Manufactured dividend
  • Market participants
  • Repo types
  • GC & Special

5. Swaps

  • Definition & characteristics, types
  • Market share
  • Currency swaps
  • CDS example
  • IRS characteristics
  • IRS cash flows
  • IRS quotation
  • Curves
  • Swap pricing mechanics
  • Constructing the short end
  • Constructing the long end
  • Zero curve examples
  • Curve adjustments
  • Interpolating the curve
  • Inter-maturity spreads
  • Bond hedging
  • Forward starting swaps
  • Price example
  • Currency interest rate swaps
  • Beyond plain vanilla swaps

6. Options & Structured Products

  • Options
  • Definitions & terminology
  • Pricing variables
  • Pay-off diagrams
  • Option strategies
  • Case Study
  • Structured Products
  • Introduction, options, yield curves
  • Capital guaranteed structures
  • Reverse convertibles
  • Other type of products

7. Risk Management

  • The current market turmoil: origin of the crisis and features
  • Choosing a risk management strategy
  • The risk management framework and lessons learned during the crisis
  • Organisational and operational aspects for the risk management unit
  • Market risk, credit risk, operational risk and liquidity risk from the Bank’s perspective
  • Risk systems and lessons learned during the crisis
  • Securities Clearing, Settlement and Custody (4 hours)
  • Securities
  • Clearing, settlement & custody
  • Future issues
  • Examination (multiple choice questions)

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