The aims of the module are to equip students with the skills for managing treasury departments in local and multinational organisations and also give them critical knowledge of the structure and operations of financial markets and institutions worldwide. Topics that will be considered will include structure, organisation and operations of a treasury department; debt and equity issuance and documentation procedures; credit rating; managing bank relationships; intra group funding; alternative funding solutions; cash and liquidity management strategies; staff pensions management strategies; treasury operations and controls – including treasury systems, policy, objectives, corporate governance, controls, ethics and reporting. Other topics that will be considered are an overview of the financial markets and institutions worldwide; the roles of central banks, commercial banks, investment banks and non-bank financial institutions in financial markets; governments influence on interest rates and exchange rates; securities markets and derivative securities markets.

By the end of the module students should be able to:

• critically apply a range of cash and liquidity management strategies;
• determine alternative funding solutions that a firm can use and know the strengths and limitations of each solution;
• evaluate various strategies that can be used to manage relationships with banks, other creditors and shareholders;
• demonstrate critical knowledge of, and skills for, managing equity and debt issuance and documentation procedures and records;
• critically assess the potential impacts of changes in monetary and fiscal policies on asset prices, costs of different types of capital and the behaviour of financial markets.