Reclaiming Your VAT

Reclaim the VAT on your Euromoney Training Courses in the UK

Why am I being charged VAT?
The EU VAT Directive stipulates that all training and educational courses that are provided in the UK must include a VAT charge on payment.  

Can I reclaim my VAT back?
Overseas delegates who attend our courses in the UK are eligible to claim their VAT back once it has been paid.    

How can I claim the VAT back paid on a course?
There are two ways in which you can claim back VAT back from the UK.

Option 1 - Directly through HM Revenue and Customs

The most cost-efficient way is to 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.

Option 2 - Through our Recommended VAT Reclaim Service – VAT IT
The specific rules for VAT reclaim will vary according to the laws of your country of residence. This can be complicated and time-consuming. 

Euromoney have an exclusive partnership with VAT IT, specialists in international VAT reclaim.  VAT IT will review, process and submit your VAT refund on your behalf. 

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

If you want to find out more about this service, please email your details to: euromoney@vatit.com  

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.

RECLAIMING YOUR VAT WITH VAT IT

Course details

Download course brochure

Treasury Management Training Week

This course studies the latest strategies & best practice within the Treasury Function
  • This course is designed for professionals in the Treasury department of a bank or a corporate along with Relationship Managers, Accountants, Risk Managers, Internal/External Auditors, Regulators, Operations Staff and other financial professionals. It will give these participants the best practice tools and approaches for Treasury management. The program will use lectures, real life case studies, computer simulations and workshops to give attendees the latest and most practical tools and techniques which they can apply in their organization to increase the effectiveness, efficiency and profitability.

    By the end of the 5-day program, you will know how to:

    • Identify the Activities of the Treasury Department
    • Identify the Best Practices of the Treasury function of a bank
    • Identify the Best Practices and Organisation of the Corporate Treasury function
    • Understand how the Treasury function funds the institution through money markets and capital market products
    • Understand and use interest rate derivative products like FRA, Interest rate swaps and caps/floors/swaptions
    • Understand and use foreign exchange products such as FX spot, FX forwards, cross-currency swaps, and currency options
    • Understand and use commodity derivative products
    • Structure and use the latest derivative products in exotic options such as average rate, basket, lookback etc.
    • Acquire a thorough understanding of the Global Financial System and its regulations
      Identify the best practices in managing Liquidity and Market Risk in Treasury



  • Day 1


    Introduction to the Financial System

    • Banking and the financial system
    • Banks and the role of funding
    • The crisis of 2008 and recent regulations; Basel 3, Basel 4, CRD IV, SEC,  Dodd-Frank etc.
    • New regulation impact on banking and corporate treasury

    Understanding the Activities of Wholesale Banking, ALM and Treasury

    • The activities of wholesale banking
    • Assets and liabilities of a bank
    • Funding, Liquidity and Market Risk in a bank
    • Treasury role in managing funding, liquidity and market risks of the bank

    ALM and Managing Liquidity and Market Risk in Bank Treasury
    What are the ALM risks?

    • ALM market risk /liquidity risk
    • ALM and making money
    • ALM and business strategy of the bank

    Identify and Quantify Market Risk in ALM

    • Earnings at Risk
       - Bucketing repricing amount
       - Calculate repricing gap
       - New BIS 3 regulations on IRRBB bucketing:  NMB, prepayment risk
    • Net interest income
    • Types of interest rate risk
       - Gap
       - Yield curve
       - Duration and Convexity
       - Optionality
       - Basis

    EVE analysis in ALM market risk

    • Mark-to-market and portfolio valuation

    BOD ALM reporting:

    • Market Risk Gap analysis, EAR report
    • Long Term EVE analysis

    Business Strategy and ALM Market Risk forecast
    Impact of economic and interest rate change on bank balance sheet
    Managing ALM Market Risk

    • Limit system
       - Limit reporting and sanctions
       - Tools to Manage ALM Market Risk
    • Match Funding
    • Derivatives:  Interest Rate Swaps and Cross- Currency swaps

    ALM and Managing Liquidity Risk

    • Liquidity Products:  Overnight, Libor, repo, etc..
    • Diversification and concentration
    • ALM ranking of liquidity
    • Stability and sustainability of funding sources

    Measurement metrics and monitoring for liquidity risk management

    • Key metrics:  Cash forecast, roll-off forecast, liquidity forecast
    • Scenario and back testing

    Managing liquidity risk with Limits and FTP

    • Types and use and Sanctions
    • Moody’s Best Practice in Fund Transfer Pricing
    • Liquidity Premium Uses

    Setting policy
    Liquidity asset buffer
    Choosing appropriate assets and business strategy
    Managing the asset portfolio

    Asset Liability Committee activities and Treasury

    Day 2

    Corporate Treasury

    • How does Corporate Treasury Work
    • The roles of Corporate Treasury
    • The Role of the CFO
    • Treasury Functions and the business strategy of the company

    Corporate Treasury Management
    Liquidity and Working Capital Management

    • Liquidity and cash forecasting in corporate treasury
    • Forecasting working capital needs
    • Negotiating working capital funding
    • Integrating working capital, liquidity and cash management

    Cash Management
    The cash cycle
    Collections, fund management and payments

    • Best Practices in Collections:  Collection services, POS, e-collection (ACH, SWIFT), phone payent, credit cards,  mobile app, automated lock boxes etc
    • Best Practices in Cash Management: 
       - Accounts:  operating accounts, pooling accounts, sub account, virtual accounts, 
       - Cash Optimisation:  physical pooling, notional pooling, netting (bi-lateral and multi-lateral), sweeping, Foreign currency accounts etc.
    • Best Practices in Payments:  ACH, SWIFT, Integrated payables, Mobile app, STP process, Debit and credit card, Block chain process

    Treasury Organisation:  Pros and cons of decentralized versus centralized, complete centralisation, functional centralisation, In-House Bank, etc...
    Best practices in Treasury Management and Organisation

     


    Day 3

    Funding Long Term – The Fixed Income Market

    Introduction to the Bond Markets and long term funding
    Different Bond Products:

    • US Bond, 144A and Traditional Private Placement
    • Regulation S and Eurobonds
    • Global Bonds
    • Local Market Bonds
    • Bond structures
    • Securitisation structures

    Convention, Liquidity and Pricing
    Duration and Bond Pricing/Trading

    • What is duration?
    • Modified Duration and its impact on bond price
    • Calculation of Duration and Price movement

    Convexity and Bond Pricing/Trading
    Bond Issuance Process


    Interest Rate Derivatives and Managing Market Risk 

    Introduction to market risk and derivative products
    Forward Rate Agreement

    • Product Structure, Pricing, Settlement Calculation
    • Exercise:  FRA calculations
    • Uses of FRA in managing interest rate risk

    OTC and exchange traded products

    • Market and pricing conventions
    • Size issues, Settlement dates, Pricing calculations
    • Dealing with the exchange:  initial margin, margin call etc..

    Exchange Traded Products

    • Interest Rate Futures:  
       - Product, Quotation and Pricing, Margin, Cash Settlement
       - Money Market Interest Change on Futures Pricing
    • Bond Futures: 
       - Product, Structure, Pricing, Cash or Delivery Settlement,  
       - Duration/Convexity and cheapest to deliver
       - Interest Rate change and futures pricing chang
    • Uses of Interest rate and Bond Futures in Treasury

    Day 4


    Interest Rate Derivatives and Managing Market Risk (continued)
    Interest Rate Swaps

    • Introduction to IRS
    • IRS structure, terminology, cash flow, convention and pricing (outright or T+)
    • Pricing of IRS and Bloomberg IRSB screen
    • Uses of IRS in funding, bond structuring, bond hedging
    • ALM:  IRS and managing the bank’s IRRBB market risk
    • Mark to market of an IRS
    • Duration and price sensitivity of IRS
    • IRS structures:  Forward start, amortizing, asset swaps

     
    Interest rate options:  Caps, Floors and Swaptions

    • Introduction to caps and floors: market conventions, pricing convention
    • Options pricing issues: Delta, Gamma, Theta, Vega, Rho
    • Uses of caps and floors in Treasury
    • Introductions to Swaptions:  Payer/Receiver, pricing convention
    • Pricing and uses of swaptions
    • Using Interest Rate Options to manage the bank’s market risk

     

    Day 5

    Foreign Exchange 


    Introduction to the Foreign Exchange Market
    Market conventions and quoting conventions
    Using the Bloomberg FX screens and quotation of spot rates
    Calculation and quotations of forward FX rates
    Using Bloomberg FX forward screens
    Non-deliverable forwards (NDF) and their use
    Application of spot and forward products
    Structuring and Using FX swaps
    Foreign Exchange Options

    • Puts and Calls
    • Conventions and pricing of calls and puts
    • Option pricing models:  Delta, Vega, Gamma, Theta, Rho
    • Participating Forwards structuring

    Exotic Options: Average rate, path dependent, knock out/in, no upfront fee, lookback
    Uses of FX options

    Commodity Derivatives
    Introduction to the commodity market
    The Commodity Price curves: Cotango and backwardisation 
    Seasonality, Delivery and Pricing 
    OTC and Exchange traded commodity derivative products

    • Commodity Futures
    • Commodity Swaps
    • Options on commodities

    Uses of commodity derivatives to hedge market ris

    Final Thoughts

  • 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 – we have delivered training solutions for 95% of worlds’ top 100 banks and have trained over 250,000 professionals.
    • Knowledge – our 150 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 20,000 events both in person and online, using simultaneous translation to delegates from over 180 countries.
    • Recognition – we are accredited by the British Accreditation Council and the CPD Certification Service. In an independent review by Feefo we scored 96% on service and 95% on product
This course can be run as an In-house or Tailored Learning programme

Instructor

  • Thierry Fuller

    Biography