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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.


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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.

Banking Fundamentals Academy: Module 2 - Corporate Banking

  • The Banking Fundamentals Academy is made up of 3 individually bookable modules

    Banking Fundamentals Academy: 1 - Banking Products and Services

    Banking Fundamentals Academy: 2 - Corporate Banking

    Banking Fundamentals Academy: 3 - Transaction Banking

     

    Overview

    A foundation level course to provide participants with an introduction to corporate banking services. The programme will provide insight into the range of products, services and solutions offered to corporate customers.

    This is a fast-paced course that covers material in a highly interactive way.

    Each session will involve case studies and exercises designed to increase participant engagement and cement the key points from the session.

     

    Objectives

    After completing this course, participants will understand:

    • Understand the structure of a corporate, the role of the treasury department, strategic and reputational risk.
    • Review the nature of a corporate’s financial statements and annual report.
    • Discuss the various financing solutions both short-term and long-term available to a corporate.
    • Examine the techniques of credit analysis and credit pricing.
    • Understand the following services offered by a bank:
      • Cash management solutions.
      • Working capital needs and solutions.
      • Correspondent banking service, payment, and collection solutions.
      • Trade finance services and trade finance solutions.
      • Foreign exchange services.
      • Treasury and risk management solutions.
    • Gain confidence in conducting both client and internal meetings in an informed and professional manner.

    Who should attend this course?

    Newly recruited staff within, client-facing, middle office, or back-office functions. Those within legal, compliance, financial control functions, or HR functions.

    Prior Knowledge

    None required

  • Day DAY ONE - Defininf a Corporate, Strategic, and Reputational Risk Including ESG Considerations

    Defining a Corporate

    • Sole traders, partnerships, and limited liability companies
    • What is equity, types of shares and shareholders rights
    • Objectives of a company and business model
    • How a company is structured and the roles within a company
    • Understanding the distinct types of corporate customers and market segmentation
    • The life cycle of a corporate – start-up, growth, maturity, and decline

    Strategic and Reputational Risk

    • What is strategy, defining strategy and strategic thinking
    • Strategic models
    • Defining corporate ESG considerations
    • What is reputational risk, and corporate governance
    • Risk management decisions

    Corporate banking overview

    • Why does a corporate customer come to a bank?
    • Positioning the bank, the correct mix of interest vs. non-interest income
    • Understanding the distinct types of corporate customers and market segmentation
    • Defining the customer relationship – transactional, cross selling, advisory or first call
    • The concepts of fairness and transparency in banking transactions
    • The life cycle of a corporate – start-up, growth, maturity, and decline
    • What is the role of a corporate treasurer?
    • How can a bank and the relationship manager add value to the corporate treasurer?
    • What needs financing and how can the bank help?

     

    DAY TWO - Fundamentals of Accounting

    Introduction to Accounting and Accounting Concepts

    • What is accounting?
    • Keys accounting concepts; prudence, going concern, matching, materiality, and consistency
    • Who are IFRS and what are IFRS standards?
    •  What are corporate assets, liabilities, and equity and how do these definitions differ from those used in a bank
    • Accounting terms - Cash vs. accruals, accruals, and prepayments, accrued income and deferred income, depreciation and amortisation, goodwill, impairments, costs – types, opex and capex

    Introduction to Financial Statements

    • Users of the financial statements
    • The Income Statement
      • Revenue, cost of goods sold, gross profit, operating profit, net profit, and margin
      • Profitability – gross, operating, and net margins
      • EBIT, EBITDA, and analysis of each
      • Understanding depreciation and inventory valuation
      • Examining both a corporate and bank income statement

    More on Financial Statements

    • The Balance Sheet
      • Understanding capital employed, capital – sources and uses, balance sheet structure for distinct types of companies, the relationship between the balance sheet and the income statement
      • Goodwill, intangibles, provisions, and treasury stock
    • The Cash Flow Statement
      • Profit vs. cash
      • The relationship between the balance sheet, income statement and cash flow statement, operating cash flow, investment cash flow and financing cash flow
    • The Statement of Change in Equity
      • Review of a corporate statement
    • Building a set of simple financial statements

     

    DAY THREE - Methods of Financing a Corporate Customer

    Financing the Balance Sheet

    • Funding current and non-current assets
    • Cost of debt and the cost of equity
    • Dividend capitalisation model, CAPM and WACC

    Working Capital and Working Capital Funding Solutions

    • Working capital and why it matters – working capital ratios, receivable days, payable days and inventory days, DSO, DIO, and DPO
    • Working capital products – RCF’s, invoice discounting/ factoring, and supply chain finance

    Long-term Financing

    • Secured, unsecured term lending, club, and syndicated loans
    • Repayment and collateral protection
    • What are covenants, why use them
      • Good design -Conventional and financial
      • Setting covenants - seasonality, information, and general
    • Actions upon breach
    • Debt and equity capital markets
    • Expected loss and the mechanics of credit ratings
    • Ratio analysis, credit ratios
    • Return ratios including gearing, interest coverage, liquidity, quick ratio, and current ratio, 

    Project Finance and Other Forms of Finance

    • The nature of project finance
    • Understanding the key players in a project finance transaction
    • The mechanics of hire purchase and leasing

    Corporate credit risk

    • Country risk – PESTEL analysis, lessons from history, industries at greater exposure to sovereign credit risk
    • Industry risk analysis – maturity cycle, cyclicality, profitability, dependence, regulatory environment, and Porters 5 forces
    • Corporate credit risk – using internal and external credit ratings
    • Measuring cash flow
    • Debt a firm can sustain while maintaining acceptable credit standards

     

    DAY 4 - Correspendent Banking and Cash Management Solutions

    Correspondent banking services

    • Outline the need for correspondent banking and the role of correspondent banks
    • Identify the benefits to a bank of offering clearing services

    Cash management services

    • Why cash management services are attractive to Riyad Bank
    • Risks to a bank, KYC - anti-money laundering
    • Clearing services
    • Correspondent banking – cross-selling opportunities
    • Examining what cash management means to a corporate treasury team

    Payment and collection services

    • Examine the nature of payment operations
    • Outline multiple collection types, multi delivery channels, and geographical challenges
    • Examine the nature of collection operations
    • Identify the issues with domestic vs. cross-border collections
    • Define the use of virtual accounts and lock-box services
    • Listing potential clients for payment and collection services

    Trade finance services

    • Risk issues for a corporate conducting a trade finance transaction
      • Country risk, currency risk, commercial risk, and bank risk
    • International trade documentation (commercial, official, shipping, insurance)
    • Delivery terms, the use and impact of Incoterms 2020
    • How a bank provides trade finance solutions to corporate customers through documentary collections (DP and DA), and letter of credit
    • Letters of credit – issuing, confirming, and discounting

     

    DAY 5 – Corporate Risk Management and Corporate Valuation

    Treasury and risk management solutions

    • Defining market risk and how corporate customers are exposed to market risk
    • Outlining the corporate solutions offered by a bank to mitigate these market risks
    • Forward rates and how they provide certainty of a rate or price
    • Interest rate swaps (IRS) – mechanics and cash flow, features and uses in funding
    • Use of options and how they can be used to create certainty
    • Interest rate options - caps, floors, and collars
    • Documentation ISDA Master Agreement and the CSA

    Corporate Valuation Approaches

    • Fundamentals of corporate valuation - intrinsic vs market value
    • Relative vs. absolute value analysis
    • Examine return on capital employed (RoCE), return on invested capital (RoIC) return on assets (RoA) and return on equity (RoE)
    • Relative value and the use of ratios, including earnings per share (EPS), price/earnings ratio (PE ratio), and price/earnings to growth (PEG ratio)
    • Discounted cash flow analysis
    • Mechanics of discounting – PV of both free cash flow and terminal value

    Real Estate Valuation Techniques

    • What is real estate?
    • Examining a real estate project feasibility study
    • Real estate appraisal techniques
    • Cost approach
    • Market approach - physical comparison and gross income multiplier (GIM)
    • Income approach – net operating income and capitalisation rate
  • 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 as an In-house or Tailored Learning programme

Instructor

  • Stephen Cosham

    Biography

    Steve is a seasoned financial training professional with over 21 years of international experience having to date trained in 37 countries. He has been responsible for structuring, writing, and delivering financial training to commercial banks, investment banks, supranational entities, regulators, and universities. Steve has trained extensively in the Middle East, most recently in Abu Dhabi and Saudi Arabia where he delivered multiple programmes on a range of financial topics including retail banking, corporate banking, capital markets, derivatives, and trade finance. Steve has written distance learning programmes relating to financial markets and transaction banking in in association with several academic institutions.  Steve is a Fellow of the London Institute of Banking & Finance. Before his training career, Steve had 23 years of banking experience, 14 years of which were overseas.  His banking career began in 1975, at NatWest working both within the branch network and Financial Control. In 1979, he accepted an RAF commission training as a pilot. Steve returned to banking in 1982 with the MB Group of Marine Midland Bank, (now HSBC), moving to New York in 1984 to establish a trading desk for syndicated loans. Later as Director assuming responsibility for the liquidation of the EM portfolio for the HSBC group.  In 1990, he joined Citibank, on the EM sales desk. He transferred to Hong Kong in 1992 establishing an Asian EM sales desk. Later, as a managing director, he assumed responsibility for security sales in North Asia. He returned to London in 1998, managing the EM market syndicate desk at Citigroup.