Day One
Session 1: Treasury Organization
· Treasury Objectives
o The key factors
· Change in the Paradigm
o How the financial meltdown of 2006-2009 changed Treasury
· Treasury’s evolving role
o How to become more strategic
· MNC Organization Structures
o How to improve control and effectiveness with less staff
· Vision for Integrated Treasury
o How to integrate all elements for improved results
· Treasury Benchmarking and Metrics
o Shift from P&L to Value-Add metrics
· Islamic Finance
o Critical issues will be addressed during each relevant Session throughout the 5 day workshop
Session 2: Capital Structure
· Governance
· How to manage a global capital structure
o Asset/liability management
o Funding and investment strategy
o Effective tools and techniques
§ Worked examples
· Long and short term debt and credit ratings
o How to develop an effective strategy
· Debt Management
o Debt vs. Equity Financing
o Matching tenor and nature
§ Fixed vs. Floating
§ Mismatches
· Worked examples
· Investment lessons learned 2007-2008
o What to do and what not to do
· Investments
o Comparison of current alternatives
o Investment Policy
o Macaulay and Modified duration
o Zero Curves
o Optionality
§ Key points to effective global governance
§ Worked examples
· Corporate Finance
o Effective tools and techniques
§ Worked examples
· Delegate exercise
o Delegates will utilize a case study that will reinforce Session 1 & 2 key points
o Effective tools and techniques
§ Worked examples
Day Two
Session 1: Corporate and Trade Finance
· Governance
· Contract Management
o Holistic approach
· Trade Finance
o Supply chain finance
o Worked examples
Session 2: Treasury Technology
· Best Practice use of Treasury technology
o Map the process to success
o Alternative technical frameworks
· Layer the applications
o More effective than a hope for full integration
· Treasury Workstations
o From business justification to RFP to implementation
· ERP systems
o What they can and cannot do
· SWIFT Net
o How to best use the technology
· Special focus portals
o How to pick the correct "club" for the shot
· Delegate Exercise
o Delegates will utilize a case study that requires mapping Treasury processes to technical solutions
Session 3: Treasury Tools
· Ownership of Treasury tools
o How to put an ownership program in place
· Treasury Products
o How to integrate the best solutions
o Changing landscape: eBAM, SEPA, technical and global
· The regulatory environment
· Shared Service Centers
o How to view the alternatives and opportunities
· Managing bank relationships
o How to make it win-win
o How to reduce costs
o Managing global bank service fees
· Delegate exercise
o Delegates will utilize a case study to design a Bank RFP, step by step
Session 4: Working Capital Management
· What is Working Capital
· Treasury’s role in Working Capital management
o Balance Sheet management
· Working Capital Best Practices
o Rules, tools and techniques to drive improvements
§ Worked examples
· Working Capital metrics
o Improve control with effective metrics
· Integrated with cash management and cash forecast
o Walk cash to the balance sheet and back
· Delegate exercise
o Delegates will utilize a case study to build a working capital management program
Day Three
Session 1: Global Liquidity Management
· Liquidity management objectives
o How to find the optimal solution
· Liquidity management structures and techniques
o Physical Concentration compared to Notional Pooling
· In-House Bank
o Organizational structure
o Intercompany loan administration
· Multi-lateral netting
o How to establish a program that reduces costs and improves efficiency
· Multi-bank liquidity management
o Follow-the-sun & reverse the sun techniques
Session 2: Optimizing global liquidity
· Bank account structure
· Automation techniques
· Reduce float
o Lockboxes, ARC, controlled disbursement
· Continuous linked settlement
· Controlling cash in restricted cash countries
· Cross border rules and tools
o SWIFT messages
o BIC’s and IBAN’s
· Daily global liquidity management cycle
o Step by step
§ Worked examples
· Delegate exercise
o Delegates will utilize a case study to determine the most appropriate cash management structure for a theoretical group of companies
Session 3: Cash Flow Forecasting
· Forecasting objectives
o How success is defined
· Forecast models
o Worked examples of Direct vs. indirect models
· Forecast line items
o Map key cash flow drivers
· Reconciling the cash to the target and back
o How to become more strategic in forecasting
· Build the Forecast
o Step by step for success
· Delegate exercise
o Delegates will utilize a case study to build a Cash Forecast model
Day Four
Session 1: Enterprise Risk Management
· Objectives
· Risk vs. Return
· Categories of risk
o Core vs. non-core risks
· VaR and other models to measure risk
o Worked examples
· Putting a holistic process in place
o Step by step key elements
o COSO Framework
o Country of residence selection
· Governance
o Segregation of duties
o SOXA, Internal Audit
o Policy
Session 2: Derivative Instruments
· Defined and objectives in use
· Commodities
o Markets and hedging tools
Session 3: Interest Rate Risk
· Gap Analysis
o Types and use
§ Worked examples
· Interest rate risk
o Nomenclature and pricing
o Interest rate management strategy
o Interest rate Swaps, futures and CFD’s
§ Worked examples
· Delegate exercise
o Delegates will utilize a case study to analyze hedging, investment and funding alternatives
Day Five
Session 1: Foreign Exchange
· Foreign exchange risk
o Nomenclature and pricing
o Interpolated and Extrapolated Hedges
§ Worked example
o Foreign exchange risk management strategy and operations
o FRA's vs. Futures
§ Comparison
o Spot, Swaps, forwards, NDF’s, Options, FRA's
§ Worked examples
o Foreign Exchange Policy key points
· Tailored Foreign Exchange Solutions
o Pyramid Hedging
o Cash Bucket Hedging
o Asset Swap
§ Worked example
Session 2: Accounting
· Accounting for Foreign Exchange
o FAS 133 hedge accounting requirements
o Schedule of compliant and non-compliant transactions
o Comparison to IFRS accounting treatment
§ Worked examples
· Delegate exercise
o Delegates will utilize a case study to design a Foreign Exchange management program