...Class of: 2013 Course Title: Financial Risk Management (FRM) Semester: III Credits: 3 Course Objective & Learning Outcome: This course gives students a working knowledge of derivative instruments and their applications in managing various types of financial risks. While doing so, students would understand the organizational aspects of those risk functions and their roles & responsibilities. The emphasis is on mechanics, properties and valuation of forwards, futures, options and swap instruments. In covering these instruments, cases, examples and notes would be sought from markets so as to provide a holistic view of the financial market structure i.e., currency, fixed income, equity and money markets. Cases discussed in the class would be contemporary in nature drawn from international experience. Pre-requisites: Students are advised to be through with Financial Management I, Financial Management II and Quantitative Methods. Students are expected to go through all the reading prescribed before every class and make a meaningful contribution through active class participation. The course is delivered through a combination of case discussions, problem solving, real life risk reports and simulation. The course would have an analytical and numerical flavor and hence students are required to bring their calculators/laptops to every class. Text Book: 1. Hull, John C. & Basu, S., Options, Futures, and Other Derivatives, 7th Edison, Prentice-Hall...
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...Study: Coca-Cola HBC Treasury Takes Control of Commodity Risk Management Dimitris Papathanasiou, Coca-Cola HBC - 11 Sep 2013 Coca-ColaHellenic Bottling Company standardised its approach to risk management by transferring commodity risk management into treasury, so this central and vital business process could be managed by experts on an integrated basis with other financial risks and overseen by the financial risk management committee. This case study explains how organisational changes, combined with the introduction of risk management technology, enabled the organisation to plan and execute a consistent, cost-effective hedging strategy, with reduced counterparty risk exposure levels, improved transparency and stronger levels of control. Coca-Cola Hellenic Bottling Company (Coca-Cola HBC) is the world’s second largest bottler of the Coca-Cola Company’s products and the largest in Europe. Net sales revenue for fiscal 2012 was €6.8bn. Coca-Cola HBC is headquartered in Zug, Switzerland, and has a premium listing on the London Stock Exchange and a secondary listing on the Athens Exchange. It serves approximately 581m people in 28 countries. The company decided to concentrate its commodity market risk management within the treasury department, in response to high levels of profit and loss (P/L) volatility and the relatively high credit risk with its suppliers. The ensuing project involved change management for transfer of the company’s commodity risk hedging to treasury...
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...Behavioural Finance Financial Risk Management Table of Contents Table of Contents 1 Risk Management Paper ........................................................................................................ 2 1.1 Introduction and interpretation .................................................................................................... 2 1.2 Implementation ............................................................................................................................ 4 1.2.1 Aspects to consider ....................................................................................................................... 4 1.2.2 Implementation Process ............................................................................................................... 8 2 Appendix I – References ....................................................................................................... 10 Date: 24 of May 2012 th i Risk Management Paper 1 1.1 Risk Management Paper Introduction and interpretation If at the beginning of 2011, a highly respected person advised me that I was going to live through three major earthquakes within a year I would have struggled to believe them and justify arguing with the historical and scientific data, which clearly states the converse...
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...The role of writing in financial field Abstract As far as we are known, writing plays an important role in our daily life and is essential to all people from all walks of lives. Writing can prompt the fast development of the individual progress as well as their professional capacity as well. I am willing to come true this aim in the way of writing, so I do my best to interview a person, her name is Doris. We have the opportunity to pick up some techniques and significant skills in the way of giving question-- how to write in an appropriate way in some degree. Now, Doris is working in financial field. There is no doubt that we can learn some key points of how to write something in this field from her useful and important experiences. This assignment which is an informational report aims to give a brief introduction about the different genres of writings, then provide some useful instructions to her expected audience, what’s more, making those audience known that writing can convey unexpected reflection of our daily life in reality. The importance of writing in financial I have acquire that writing could promote her to achieve a lot of things during the process of her career such as data analysis, strategy decision making, and more about the international business. Moreover, Doris has spent 3 more years working in this field. And everyday, she takes one and a half to write. Meanwhile, she will try her best to finish her tasks, no matter how difficult the tasks are, she...
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...CPA Program The Practical Experience Guide EVE CHENG CPA SENIOR ANALYST BHP BILLITON Contents Practical experience requirement How to identify if your role is relevant Where do you fit? What skills areas do you need to demonstrate? Your mentoring relationship How to record your experience in the logbook The skills guide Personal effectiveness skills Leadership skills Business skills Technical skills 3 4 6 7 8 10 11 12 13 14 15 MICHELLE ROACH CPA 2 Practical experience requirement Did you know? Our studies show that members consistently perform better in their segments when they are enrolled in the practical experience requirement The practical experience requirement of the CPA Program gives you the opportunity to use the knowledge and skills gained in your education and apply them in your workplace. Combining your education with mentored practical experience will give you the opportunity to develop and demonstrate highly sought after technical and soft-skills that will benefit your entire career. Starting your practical experience requirement means that you are one step closer to your goal of becoming a CPA. CPA Australia recommends that you start the practical experience requirement and the professional level segments at the same time, if you are employed in a relevant role. What are the requirements? • complete a minimum of three years of relevant full-time or equivalent part-time work experience • demonstrate competence in 16 personal effectiveness...
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...analytical and educational background Management experience Diverse work and life experience Experience 02/2010 – present Raiffeisen Bank International AG, Austria Credit management corporate, Director Counterparty credit risk and underwriting management in European emerging markets with special focus on Russia and Ukraine. 12/2008 – 01/2010 Structuring complex corporate credit transactions such as LBOs and investment loans. Developing an advanced internal tool for calculating Risk weighted assets under both standardised and IRB approaches. Developing and implementing industry concept in credit risk management. Reporting large and complex transactions to the bank’s Credit committee and Management board. Exercising my own approval competences for approval of credit transactions. Mentoring junior professionals and trainees in the department. Raiffeisenbank AD, Bulgaria Corporate credit risk, Head of department Managed a credit risk department of 10 risk professionals responsible for the largest corporate credit risk exposures. Was a voting member of the bank’s credit committee with own approval authorities. Steering the credit committee meetings. Participated in risk related projects originated in head office improvement, Data Quality management, Regular risk reporting). Met National Supervisory in terms of IRB application status of the bank. (Rating model 06/2008 – 11/2008 EFG Eurobank AD, Bulgaria Credit risk management, Head of department Managed...
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...CPA Program The practical experience guide and logbook If you require further information about the practical experience requirement, or would like to notify us of a change, please contact CPA Australia: practicalexperience@cpaaustralia.com.au or contact your local office – details can be found on the inside back page of this guide. Disclaimer The material used in this booklet has been designed and prepared for CPA Australia’s practical experience requirement. It provides tailored guidance for mentors who are registered in CPA Australia’s practical experience requirement. The booklet and contents should not be used for any other purpose. CPA Australia, the publisher and the author of this booklet take no responsibility for any loss incurred by any person who relies on guidance offered in this booklet. Legal notice Copyright CPA Australia Ltd (ABN 64 008 392 452) (“CPA Australia”), 2010. All rights reserved. Save and except for third party content, all content in these materials is owned by or licensed to CPA Australia. All trade marks, service marks and trade names are proprietory to CPA Australia. For permission to reproduce any material, a request in writing is to be made to the Legal Business Unit, CPA Australia Ltd, 385 Bourke Street, Melbourne, Victoria 3000. CPA Australia has used reasonable care and skill in compiling the content of this material. However, CPA Australia and the editors make no warranty as to the accuracy or completeness of any information in these...
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...A risky business Dodie: We are all here now. As you know that Zelal Sulen is our new boss now. After she took up the official post, she found that Hi-Style is out of touch with its target consumers and is losing direction. As the member of manager consultants, for this point, today we need to think out at least two options to advise her to improve the situation. Am I understood? And think a while... Okay, let's make a start. Who want to speak first? Lily: Well, in my opinion, Hi-Style could allocate £10m to new investment in the business. For example, it could improve distribution and sales through an exclusive agreement with a major retailer, which could provide a steady marketing channel. Second, to launch new product ranges with major advertising campaigns. Thus, new products will be known to customers. Hi-Style could definitely reach wide publicity. Thirdly, to employ brand development consultants so as to improve its image. Brand development consultants are more professional so that better brand image will be built, leading to its properous future. Fourthly, to hire a top retailing executive to run the business. Therefore, the business will be more smooth and sales will be increased. The last one is to commission City Associates to do a thorough review of all Hi-Style's activities, from which Hi-Style could catch a better understanding of the whole business to control its operation. Dodie: Good.Thanks. Lily. And what's your opinion, Serena? Serena: Well, I prefer the...
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...FINANCIAL SYSTEMS FU TURE CHALLENGES IN GROWING COMPLEX E NVIRONMENT DISSERTATION Roszak Sabrina Msc BC & IS Management 1 MSC IS&BCFinancial SYSTEMS FUTURE Challenges in growing complex environment DISS Acknowledgements It is not an easy task going back to school after seven years of work experience. And it is much harder going back to school being a young mum. For this reason, my deepest gratitude goes to my family who has always supported me and helped me in this initiative. Especially, I would like to thank my parents who always believed in me, my husband who encourages me and over all, my son, whose love gave me all necessary energy and strength. I would also like take the opportunity to thank all the teachers from the MSc, especially Ms. Hirzmann who encourages me in my professional choices and future carrier and my professor Mr. Parmantier who helped me complete this dissertation. F inally, I would like to express my gratitude to Mrs. Jalabert, SBM MONACO Finance Director for her time spent answering my questionnaire. 2 MSC IS&BCFinancial SYSTEMS FUTURE Challenges in growing complex environment DISS Glossary BI: Business Intelligence BSC: Balanced Scorecard CFO: Chief Financial Officer CPI: Cost Performance Indicator CPM: Corporate Performance Management CR: Corporate Reporting CRM: Customer Relationship Management EPM: Enterprise Performance Management ERP: Enterprise Resource Planning FASB: Financial...
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...University of Nairobi MBA Project List 2011 CANDIDATE | PROJECT TITLE | NDIRANGU SAMUEL NJOGO | A SURVEY INTO THE CAUSES OF FINANCIAL DISTRESS IN CO-OPERATIVE SOCIETIES IN NAIROBI | NDIANG’UI DOROTHY WAIRIMU | THE RELATIONSHIP BETWEEN DIVIDEND GROWTH AND RISK FOR COMPANIES LISTED AT THE NSE | MURIITHI ERIC | THE RELATIONSHIP BETWEEN CORPORATE GOVERNANCE PRACTICES AND FINANCIAL AND FINANCIAL PERFORMANCE OF INVESTMENT BANKS IN KENYA | NICHOLAS KIPYEGOMEN CHEPKOIWO | FACTORS AFFECTING THE DEVELOPMENT OF EMERGING CAPITAL MARKETS. THE CASE OF NAIROBI STOCK EXCHANGE | KIPKURUI KIMOSOP | THE RELATIONSHIP BETWEEN CORPORATE GOVERNANCE AND FINANCIAL PERFORMANCE OF INSURANCE COMPANIES IN KENYA | OMENDA CHRISTOPHER ODHIAMBO | EFFECT OF STOCK SPLITS ON STOCK LIQUIDITY OF COMPANIES QUOTED AT THE NSE | GEORGE MARTIN NZIVE KASYOKA | THE USE OF STRATEGIC POSITIONING TO ACHIEVE SUSTAINABLE COMPETITIVE ADVANTAGE AT SAFARICOM LIMITED | MUTIE PETER KIOKO | RELATIONSHIP BETWEEN PRIOR PERIOD DIVIDENDS AND FINANCIAL PERFORMANCE OF FIRMS LISTED AT THE NSE | EVANS ODHIAMBO OYIEYO | BALANCE SCORE CARD AS A STRATEGIC MANUFACTURING INDUSTRY IN KENYA | SAMBA STEPHEN MIDEGA | INVESTIGATION OF CAPACITY MANAGEMENT STRATEGIES AND THEIR INFLUENCE ON SERVICE QUALITY: CASE OF NAIROBI SUPERMARKETS. | LUCY MUTHEU KIILU | CAUSES OF INDUSTRIAL DISPUTE IN GARMENT FACTORIES AT THE ATHI RIVER EXPORT PROCESSING ZONES, KENYA | JENIFFER N. MULI | THE RELATIONSHIP BETWEEN HOUSE PRICES AND MORTGAGE...
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...role of corporate governance and risk management in financial regulatory reform As regulators and policymakers continue their efforts to find the best way to prevent a repetition of the financial crisis that almost engulfed the world economy, re-evaluating how corporate governance and risk management can make the financial system more secure has become a crucial question. Clifford Chance organised three round-table debates between 2009-2010 to assess this issue. With financial regulatory reform continuing to dominate the global political agenda, Clifford Chance has decided to publish a summary of these discussions as part of its commitment to promoting a balanced and informed analysis of the challenges that lie ahead. Much has been written and spoken about the causes of the financial crisis. Most people accept it is time to learn the lessons and move on. While the need to reform the banking and the financial services sector is beyond question, there is a tension between the desire to ‘get it right’ and the intense pressure for politicians and regulators to act quickly and decisively. In the ensuing debate over regulation and reform, the real issues of corporate governance and risk management have been largely obscured by the remuneration question. “There are some conflicting imperatives,” said Michael Bray, a partner in Clifford Chance’s London office. “We still have a long way to go.” Among a host of challenges facing the global financial community are questions of its own reputation...
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...BANKING SECTOR Challenges for Public Sector Banks Public sector banks are trying to overcome huge challenges, many of them stemming from legacy issues, in their effort to set up good Financial Planning and wealth management practices. Financial Planning for Customer Delight et me state at the outset that this article is not a lament. On the other hand, it is an attempt to place before the readers the path traversed by the public sector banks (PSBs) to set up a Financial Planning and wealth management practice. It is a chronicle of the resolve displayed by them when faced with hurdles. Apart from the economic scenario currently prevailing, most banks have the good fortune of being led by wise and charismatic leaders. The combination of these two factors may help ease the journey. L First things first. It took not only a lot of time but also many unsavory developments, such as loss in market share, flight of mass affluent (MA) and HNWI customers to competitors, archaic and unexciting products, and little or no growth in non-interest income, for PSBs to realize the flaw in their business model. The diagnosis was that they had not focused on customers who were maintaining valuable relationships with them for years. They had no special treatment for these customers. The banks did not recognize that these customers were expecting 38 | FINANCIAL PLANNING JOURNAL | APRIL - JUNE 2008 BANKING SECTOR C. S. Jain General Manager (New Business) State Bank of India ...
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...Challenges Facing the Finance Industry This paper will explore three problems facing the finance industry. Those problems include cybersecurity, compliance with regulation, and risk management. Three solutions will also be addressed later in this paper. 1 When one thinks about the finance industry, banks, credit agencies, insurance companies, and equity firms may come to mind. Over the years financial institutions have not been up to par. With the financial crisis that happened in 2008, the world is still recovering and paying high taxes for the amount of debt that it acquired. As a result of that crisis, the financial industry faces challenges that include cybersecurity, complying with regulation, and risk management. Although the industry faces these challenges, there are solutions that can make things operate smoother. One of the finance industries biggest challenge this year is cybersecurity. According to Hewitt, “The potential hacking of sensitive customer information is a top threat facing the financial industry in 2014.” Technology is vastly changing, and more people are beginning to use different softwares to handle the financial side of the business. With technology evolving, hackers are getting more experienced, and cyber-attacks are beginning to occur more frequently and more wide spread than they have been in the past. According to Rodriguez, “As the cost of technology decreases, the barriers to entry for cybercrime drop, making it easier...
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...EXPLORING THE CHALLENGES OF STRATEGIC MANAGEMENT ACCOUNTING IN POST GLOBAL ECONOMIC CRISIS ERA IN NIGERIA: IMPLICATIONS FOR THE NIGERIAN PROFESSIONAL BY BENNETT B. BENNETT UNIZIK/ACC/Ph.D./2011387014F DEPARTMENT OF ACCOUNTANCY, FACULTY OF MANAGEMENT SCIENCES, NNAMDI AZIKIWE UNIVERSITY, AWKA SEPTEMBER, 2012 TABLE OF CONTENTS Certification Approval Declaration Acknowledgement List of Tables Abstract CHAPTER ONE INTRODUCTION 1.0 Background to Study 1.1 Statement of Research Problem 1.2 Objective of Study 1.3 Research Question 1.4 Research Hypothesis 1.5 Significance of the Study 1.6 Scope and Delimitation of Study 1.7 Limitations CHAPTER TWO LITERATURE REVIEW 2.1 Historical Background 2.2 Conceptual Frame work 2.3 theoretical Frame work 2.4 Review of Current Literature CHAPTER THREE METHODOLOGY 3.1 Design of the Study 3.2 Data Collection 3.3 Method of Data Analysis CHAPTER FOUR DATA PRESENTATION, ANALYSIS AND INTERPRETATION 5.1 Summary 5.2 Conclusion 5.3 Recommendations 5.4 Suggestions for Further Studies Bibliography Appendix CERTIFICATION This is to certify that this research work was carried out by Bennett, B. Bennett of the Department of Accountancy Nnamdi Azikiwe University, Awka. _______________________ Prof. B.C. Osisioma Date. APROVAL This paper titled “Exploring the Challenges of Strategic Management Accounting in Post Global Economic Crisis Era: Implications...
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...Chapter 1 The Canadian Financial Reporting Environment Prepared by: Dragan Stojanovic, CA Rotman School of Management, University of Toronto The Canadian Financial Reporting Environment Role of Financial Reporting • Financial statements and financial reporting • Accounting and capital allocation •Stakeholders Objective of Financial Reporting •Management bias •Users’ needs Standard Setting • Need to develop standards • Parties involved in standard setting • Standard setting in a political environment GAAP • GAAP hierarchy •Professional judgement • Role of ethics Challenges Facing Financial Reporting • Globalization of companies and capital markets • Impact of technology • Changing nature of the economy • Increased requirement for accountability 2 The Canadian Financial Reporting Environment Role of Financial Reporting • Financial statements and financial reporting • Accounting and capital allocation •Stakeholders Objective of Financial Reporting •Management bias •Users’ needs Standard Setting • Need to develop standards • Parties involved in standard setting • Standard setting in a political environment GAAP • GAAP hierarchy •Professional judgement • Role of ethics Challenges Facing Financial Reporting • Globalization of companies and capital markets • Impact of technology • Changing nature of the economy • Increased requirement for accountability 3 Characteristics of Accounting 1. Identification, measurement, and communication of financial information about; 2...
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