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VAT on Virtual and Online Programmes

VAT is applicable on virtual programmes to delegates attending from the UK*. If participating from the EU, a valid VAT number is required to ensure VAT will not be charged under the reverse charge mechanism. VAT is not applicable to attendees from all other countries.
*For virtual courses ran through our Asia office, VAT may be applicable to HK and Singapore residents only. Find out more by contacting learning@euromoney.com

 

Claiming Back Your VAT

All attendees of a London based course incur VAT as a part of the cost of attendance.

Euromoney Learning have partnered with VAT IT to allow you the unique opportunity to recoup the VAT incurred.

Using VAT IT's extensive experience and simple sign-up and refund process, every invoice can be turned into cash for your business.


Claim the VAT that's rightfully yours in four simple steps:

1. Register your interest

2. Sign a few simple documents

3. VAT IT processes your claim

4. Receive your refund




Why choose VAT IT 

VAT IT have spent two decades identifying, researching and perfecting the foreign VAT Reclaim process and built the best back end technology in the industry. By partnering with Euromoney Learning, we can provide you with a fast and effective way to reclaim your VAT which helps reduce the cost of your training.

VAT IT will charge a percentage of the VAT refund if/when it is successful. 


Can I claim back the VAT myself?

You can claim back VAT directly from the UK Tax Authority (HMRC) by completing the following form. 
For European clients, please refer to form VAT 65
All other clients, please refer to form VAT 65A.

 

You may also be able to claim back your VAT against courses taking place outside of the UK, and we would recommend contacting VAT IT, our specialist partner, to discuss how to do this.

Finance Operations: Achieving Back Office Excellence

Attend this course to understand how to manage a strong & efficient operations function
  • Note - A good level of spoken and written English is required to attend this course. Delegates should be of an intermediate standard in English at a minimum. Please refer to the Common European Framework of Reference for Languages - as a guide the level required is B2.


  • Day 1

    Operations in the Financial Services Industry
    • Overview: the development of operations pre and post 2008
    • A typical structure: front, middle and back offices
    • Roles and responsibilities
    • Reporting lines
    • The ‘Chinese Wall’, segregation of duties and conflicts of interests

     

    Case Study: The downfall of Kidder Peabody
    • Internal and external relationships and communication
    • Operations and Corporate Governance
    • Managing resources and when to say ‘no’
    • The role of the operations manager and the delegation of duties
    • Maintaining morale and motivation
    • Training and staff development
    • The benefits and disadvantages of outsourcing and offshoring
    • Operations and the regulators and the impact of new regulations

     

    Exercise: Delegates are asked, in their teams, to prepare an operations department organization chart for a broker/dealer business

    Day 2

    The Life Cycle of a Transaction and Straight Through Processing (STP)
    • An overview of capital market products
    • The market participants
    • Operating in multiple products and markets-they are not all the same!
    • Established versus emerging markets
    • The sequence and life cycle of a securities transaction
    • Trading and investment strategies and impact on operations
    • Communicating with the middle and front office
    • Trades processing
    • Limit management
    • The importance and maintenance of static data

     

    Exercise: Delegates are asked, in their teams, to determine what static data is needed to set up a new account.


    • New accounts
    • New securities
    • Clearing
    • Settlement

    - CSDs

    - ICSDs

    - DvP, FoP

    - SWIFT

    • Global Custody
    • The concept of STP
    • What can go wrong?
    • Fails and Fails Management
    • Counterpart failure- ‘the chain is only as strong as the weakest link’
    • The back office as a revenue generator
    • The vital importance of reconciliations
    • Costs and cost allocation
    • Top versus bottom line profitability

     

    Exercise: Delegates are asked, in their teams, to analyse a fail report and recommend actions.
    • Buy-ins
    • Interest claims
    • Corporate actions processing

     

    Case Study: Losses from corporate action processing failure

    Day 3

    Operational Risk and Control

    • The Major Risks and how they are mitigated

    - Market Risk

    - Credit Risk / Global Credit Limit Systems

    • Definition of Operational Risk

    - What is operational risk?

    - What is an operational risk event?

    - What is an operational loss?

    - The impact of operational risk on the organization

    - Impact of operational risk on credit and market risk


    Exercise: Participants are given the opportunity to consider the major risks in a Middle and Back Office environment. They are asked to identify 10 risks in the lifecycle of a securities trade


    • Measuring and managing Operational risk
    • Reporting lines and segregation of duties
    • Escalation of issues
    • The ‘whistle blower’
    • Audit, Compliance and Legal
    • Money laundering and the role of the MLRO
    • Operational risk exposure indicators

    - KRIs and KPIs

    - Loss identification / measurement / management / monitoring / reporting

    - Root cause analysis


    Exercise: Given details of a failed transaction, participants will be asked to calculate an interest claim

    Day 4

    Control and striving for operational excellence
    • Pre-emptive strategies to reduce risk, errors and costs
    • The end to end control process

    - Pre-dealing / dealing controls / M.O. functions

    - Processing / position and payment controls

    - Reconciliation and accounting

    - Documentation, reporting and compliance

    • Investing in operations systems and people
    • Developing an operations control function
    • Management information systems and their use
    • The development and relevance of the ‘procedures manual’
    • Operations and new business development

     

    Case study: New business implementation going wrong

    • Operations role in project management and new systems implementation and managing ‘business as usual’ (BAU)
    • The benefits and disadvantages of outsourcing and offshoring
    • The request for proposal process (RFP) for ancillary services
    • Operations and business continuity planning (BCP)
    • Audit (internal and external) and operations 


    Day 5

    Making the case for investment in a strong operations function-course recap
    • The cost/benefit analysis for a strong operations function
    • The importance of experience
    • Having the ability to say "NO" sometimes
    • Avoiding reputation loss
    • The benefits and disadvantages of outsourcing and offshoring
    • The need for operation representation at the highest levels of management

     

    Case study: Outsourcing going wrong

    • Group discussion
    • Course recap

     

     

     

  • Our Tailored Learning Offering

    Do you have five or more people interested in attending this course? Do you want to tailor it to meet your company’s exact requirements? If you’d like to do either of these, we can bring this course to your company’s office. You could even save up to 50% on the cost of sending delegates to a public course and dramatically increase your ROI.

    If you want to run this course at a location convenient to you or if you want a completely customised learning solution, we can help.

    We produce learning solutions that are completely unique to your business. We’ll guide you through the whole process, from the initial consultancy to evaluating the success of the full learning experience. Our learning specialists ensure you get the maximum return on your training investment.

  • We have a combined experience of over 60 years providing learning solutions to the world’s major organisations and are privileged to have contributed to their success. We view our clients as partners and focus on understanding the needs of each organisation we work with to tailor learning solutions to specific requirements.

    We are proud of our record of customer satisfaction. Here is why you should choose us to help you achieve your goals and accelerate your career:

    • Quality – our clients consistently rate our performance ‘excellent’ or ‘outstanding’. Our average overall score awarded to us by our clients is nine out of ten.
    • Track record – 10/10 of the world’s largest banks have chosen us as there training provider and we have delivered training across the largest banks and have trained over 25,000 professionals.
    • Knowledge – our 100+ strong team of industry specialist trainers are world leading financial leaders and commentators, ensuring our knowledge base is second to none.
    • Reliability – if we promise it, we deliver it. We have delivered over 25,000 events both in person and online, using simultaneous translation to delegates from over 99 countries.
    • Recognition – we are accredited by the British Accreditation Council and the CPD Certification Service. In an independent review by Feefo we scored 4.2/5 on service and 4.7/5 on Coursecheck
This course can be run virtually online or as an in-house, tailored learning solution

Instructor

  • Richard Foster

    Biography

    The instructor has over thirty-five years senior banking operations management experience. He has been Head of International Operations at tier one firms including Morgan Stanley, Merrill Lynch and Prudential Securities. He was COO at Cresvale, an equity derivatives trading firm and a Founder Partner at MC Securities, an investment bank focusing on eastern European emerging markets. The instructor has been actively involved with the international securities lending, repo markets and collateral management throughout his career and was President of Minerva Securities Inc., an international securities lending/borrowing intermediary based in New York and Head of Operations, Securities Lending at Prudential M&G .Training assignments have included those with JP Morgan, Morgan Stanley, Deutsche Bank, Euroclear Bank, Lombard Odier, Cantor Fitzgerald, Coutts & Co., NatWest, Cazenove & Co. CSFB and Jefferies International. The instructor was a Visiting Fellow at the ICMA Centre at Reading University and was a member of the Operations Managers Examination Committee of the Securities and Investments Institute. He acted as an expert witness on behalf of Lehman Brothers in the Maxwell related litigation and was a member of the board of Euroclear.

Venue

London

The course will take place at a Central London hotel.

The map attached details some of our most frequently used venues

If you need help booking accommodation for your visit, please contact accommodation@euromoney.com and one of our partners will help you get the best rate possible.