chinese maths.......  

Saturday, November 29, 2008

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Certified Treasury Manager - CTM  

Saturday, November 1, 2008

THE CTM PROGRAM

With the significant developments that have taken place in the Capital, Money, and Foreign Exchange Markets in the recent years affecting volatility in exchange rates and accentuating liquidity constraints, corporates and banks have started paying closer attention to the treasury and forex management function. The globalization of the economy with mobilization and deployment of funds from/in other countries is also necessitating growing attention in the area of treasury and forex management.

Treasury Management

Treasury Management is fast emerging as a specialization in many companies and the accounting function is being delinked from the finance function. Highly focused knowledge of capital markets, money markets, instruments and investment avenues, treasury and risk management and related areas, has become essential for managing the treasury profit center successfully.

Forex Management

In the field of Forex Management, the opportunities to raise money outside India, and the factors which influence the evaluation of overseas capital investment projects, are not completely understood. The network of payments and the international investments have elevated the study of finance to a multinational scale. Events in distant lands, whether they involve changes in the prices of oil and gold, election results, the outbreak of war, or the establishment of peace, have effects which instantly reverberate around the globe. In this increasingly integrated and interdependent financial environment, the links between money and capital markets have become extremely close.

In the wake of these interesting developments in the field of Treasury and Forex Management, ACTM (India) in collaboration with the Association of Chartered Treasury Managers (ACTM), USA has developed a unique Professional Certification Program in Treasury and Forex Management titled "The Certified Treasury Manager" Program for the benefit of postgraduate students in management and professionals/working executives engaged or interested in the area of treasury and forex management. Successful completion of the CTM Program leads to the Membership in Association of Certified Treasury Managers, India. The members are entitled to use the "CTM" in short. The members are also entitled to become affiliate members in the Association of Chartered Treasury Managers, USA.

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Objectives

The Certified Treasury Manager Program is a highly specialized course imparting focused knowledge in the areas of treasury, forex and risk management.

The CTM Program has the following objectives :

To develop a new body of knowledge and skills and make it available for those seeking challenging careers in the new era of liberalization and globalization.
To provide a conceptual framework for understanding the Money Markets and the Foreign Exchange Markets.
To cultivate appreciation of the inter-linkages between the Money Markets and Foreign Exchange Markets and the practical implications of these linkages.
To improve the ability for measuring and managing financial risks in corporates and banks.
To impart skills in treasury and foreign exchange management which are relevant in the electronic age, where managers will be operating in a web enabled environment.
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For Whom

Keeping in mind the avenues open to candidates who take up the CTM Program, this course would be useful for : Finance and Accounting Professionals like CFAs, CAs, CWAs, CSs, MBAs who seek careers in treasury/forex departments of banks/corporates.

Professionals employed in the forex departments of banks or with forex dealers.
Professionals working in the treasury/investments departments of corporates/banks.
Entrepreneurs and managers controlling export businesses.
Candidates pursuing professional courses like CFA, CA, CWA, CS, CAIIB etc.
Candidates pursuing full-time postgraduate programs in commerce, economics, mathematics, statistics and management.
Other individuals associated with international business and funds.
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Skills to Succeed

The surge of activity in the money and forex markets require constant monitoring and managing. To succeed in these areas, candidates should possess the following skills.

Mathematical Aptitude
Computer Skills
Ability to withstand pressure
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Eligibility

The following categories of candidates are eligible to enroll into the CTM Program

CFAs/CAs/CWAs/CSs.
Candidates with PG qualifications like PGDBA/MBA/MMS/MFC/MIB/ MBE/MCom/ MA (Eco)/MSc (Maths)/MSc (Stats), etc.
The following categories of candidates are also eligible to enroll into the CTM Program, provided they are graduates.
Candidates who passed CFA (Level I), CA (Inter), CWA (Inter), CS (Inter) or CAIIB (Part I).
Bankers with CAIIB qualification.
Full-time students of the PGDBA/MBA/MMS/MFC/MIB/MBE/MCom programs with Business Schools/University Departments, IIMs and other reputed institutions.
Full-time students of MA (Eco)/MSc (Maths)/MSc (Stats).
Executives with minimum 5 years experience in executive capacity in corporate/banking sector with relevant experience in treasury or foreign exchange areas.
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Duration

The CTM Program may be completed in a period of one year.

Period of Validity of Enrollment

The enrollment of a candidate in the CTM Program is valid for three years from the date of enrollment. Candidates who are unable to complete the program within the three-year validity period, but, keen on continuing in the program, are required to register de novo.

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Program Structure

The CTM Program covers all the important topics related to treasury and foreign exchange. The broad areas in which the body of knowledge is developed and the candidates will be examined, are divided into two Groups consisting of two Parts each.

The structure of the CTM Program and details of marks and time allotted for each Part is given below:

Group/Part
Marks allotted
Duration of
Examination
GROUP A
Part I : Treasury Management
Part II : Foreign Exchange Management

100
100

3 hours
3 hours
GROUP B
Part III : Risk Management - I
Part IV : Risk Management - II

100
100

3 hours
3 hours
The CTM Candidates are required to undertake a Project Work as an integral part of the Program.

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Learning Benefits

The candidates enrolling into the CTM program are likely to get several learning benefits from each one of the subjects of study. Each subject is given in-depth coverage so that the candidates derive immediate and practical benefits. Broadly speaking, the candidates acquire three types of skills:

Basic Skills
Application Skills
Integrative Skills
The more important learning benefits are identified below:

You will be able to understand the scope and functions of treasury management and its linkages with corporate finance and functional areas of management.
You will get to know the financial forecasting techniques and how to apply them in treasury management.
You will appreciate the significance of effective liquidity management under conditions of surplus and deficit.
You will have an understanding of long-term financial planning and the tools and techniques used for estimations.
You will learn about financial markets and instruments and the emerging trends.
You will learn about basics of international economics and international finance including international financial markets and instruments markets and instruments instruments instruments instruments instruments.
You will appreciate the methods of financing international trade.
You will understand the key aspects relating to forex markets and determination of exchange rates.
You will learn about risk management and various tools and techniques.
You will know how to manage risks with various derivative instruments.
You will grasp the accounting and tax implications of various derivatives.
You will get an insight into handling financial crisis situations including bankruptcy.
You will grasp the nuances of financial management of multinational corporations including treasury management in MNCs.
You will appreciate the key role of management of relationships with bankers and institutions.
You will grasp the basics of internal treasury controls through effective MIS.
You will get exposure to speculation and ethical dilemmas in treasury management

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Certified Financial Planner....add to ur career..:D  

Earlier individuals used to approach self proclaimed financial advisors for advice. Over a period of time things changed, one started looking at banks, brokerage houses, insurance companies, tax consultants for advice. However, individuals still aren’t getting the counsel that takes an integrated view of their life and financial goals. Even professionals like CAs, CWAs, CFAs are aptly qualified to handle one’s personal finance for instance Chartered Accountants specialise in accounting, CWA specializes in costing, CFA specialises in portfolio management and investment analysis, MBA in finance specializes in general finance and management.
Therefore today the need for a Certified Financial Planner (CFP) is growing. A CFP has specialisation in areas of insurance, investment, taxation, estate planning and retirement planning. A CFP doesn't see an individual’s financial needs such as insurance or investment in isolation but considers all aspects in totality.

SCOPE OF CPF
An increasing number of banks like ICICI bank, Standard Chartered Bank and others are making it mandatory for their Relationship Managers to acquire the CFP certification. Regulatory bodies like SEBI, IRDA, PFRDA etc are gradually educating and encouraging individuals to consult CFPs for their financial needs.

According to a recent report, there will be a need for 50,000 CFPs in India in the next few years. Currently India has around 450 + CPFs. As mentioned above, jobs would be offered in banks, insurance sector, financial services sector.

Overview of comprehensive Financial Planning

What is overall comprehensive Financial Planning
The place, role & importance of each module in this process
Holistic approach & code of ethics
Personal/Intra personal communication skills required.
Risk Management & Insurance Planning

Different kinds of risks & how to manage them
How dose insurance works
Doctrines of insurance
How the cost of insurance is determined
Rating practices in general insurance
How to plan the insurance –Life stage wise
Once case study
Retirement Planning & Employee Benefits

Need for Retirement Planning
How to determine the retirement corpus & planning for it’s achievement
Statutory retirement benefits offered by the Govt. / Pvt. Employees
Mathematical calculation of Gratuity / EDLI / Leave Encashment / EPS 1995 / EPF / PPF
Tax treatment of the above
Group Insurance schemes
OASIS
Investment Planning

Different classes of assets and their characteristics
Liquid Assets
Call money / Notice money / T Bills / Commercial Paper / Commercial Deposits
MMMF’s
Fixed Interest Earning Securities
Govt / PSU / Corporate Bonds /
Understanding the Concept & Calculation of YTM
Growth Assets
Equity
Valuation of Shares
Calculation of EPS / Dividend Yield / P.E. ratios
Mutual Funds
Selection process
Subtopic
Real Estate
Risk Profile
Asset Allocation
Strategic / Tactical
Rebalancing techniques
Concept of returns
Various types of returns and how to calculate them mathematically
Concept of Risk
Various types of risk & to measure them
Risk Adjusted Returns
Standard Deviation / Sharpe Ratio / Treynor Ratio / Jensen Ratio
Risk hedging Techniques
Forwards / Futures / SWAP / Options
Portfolio Design based on life stages & risk profile
Case Study
Taxation & Estate Planning

1. Tax Avoidance / Tax Evasion / Tax Planning
2. Ways & Means of Taxation Planning for Salaried Individuals, firms, Companies
3. Use of Taxation Planning in Management Decision Making Process like –
Make or Buy, Choice of Entity, Capital Structure etc.
4. Residential Status & Applicable Tax Laws to them
5. Taxation Laws & Rules applicable to Individuals / HUF / Firms / Companies / Co. Op. Soc. Etc.

Advance Financial Planning


HOW 2 BECOME CFP
The 4-step process involving 4 Es to become a Financial Planner.

1. Education.

Eligibility.
Ensure you have the requisite education requirement: HSC Marksheet / Graduation / Post Graduation from a recognized university.

Skills.
Ensure you have the skills required to be a Financial Planner:

Ability to understand the Financial Planning process
Ability to gain trust and build relationships with clients
Ensure you have the technical competence in the following areas:

Insurance Planning
Investment Planning
Tax Planning
Retirement Planning
Cash Flow Analysis Budgeting and other mathematical skills
2. Experience

The experience requirement centers on work that involves personal financial planning. It is designed to provide the public with the assurance that the candidate understands the counseling nature of personal financial planning. For CFPCM certification examination, the candidate is required to have a minimum of three years of relevant work experience.

3. Examination

Appear for the globally recognized CFPCM certification examination.

What’s the CFPCM exam all about?
Get your technical skills tested in the following areas:

* Risk Management & Insurance Planning
* Investment Planning
* Retirement Planning
* Tax and Estate Planning
* Advance Plan Construction

All the above exams are conducted by the FPSB in every alternate month, across 7 cities in India.
Click here to know the exam details»

Who gives the CFPCM certification in India?
CFPCM is conducted by Financial Planning Standards Board of India (part of Financial Planning Standard Board Council located at Denver, USA) and is recognized by its Indian charter members.

Be CFPCM certified.
CFPCM is a global certification, which endows the holder with the freedom to practice in more than 19 countries (You only need to clear one module on local tax laws to be eligible to practice in these 19 countries). The CFPCM certification is regarded as a premier qualification in financial advisory services and is among the leading career choices in developed countries.

With a CFPCM certification, you will get on a golden career path alongside fellow Financial Planners from 20 countries.

How do you register for the exam?
1. Become an FPSB India Student member.
You can register with FPSB India by paying a Student Registration fee of Rs. 5000.The Student Registration is valid for 1 year. To download form click here
FPSB India Student Regisration form

2. Exam Details and Fees.
FPSB, India conducts the exam every two months. The test fees are Rs. 1000 per test for the first 4 modules and Rs. 5000 for the last module. The Examination is outsourced to NSE, for which you will have to fill the NCFM form and attach a Passport size photograph , To download form click here
Note: Please make separate DDs for Registration and Exam Fees favoring Financial Planning Standards Board, India payable at Mumbai.
NCFM Examination form

4. Ethics

On completion of the education, examination and experience requirements, the candidate for CFPCM Certification receives a Declaration Packet which includes an ethics statement form. Prior to certification, the candidates will be required to disclose past or pending litigation or agency proceedings, and to acknowledge the right of FPSB to enforce its Professional Standards through its Disciplinary Rules and Procedures. By fulfilling this requirement, the candidate demonstrates to the public that he/she has agreed to provide personal financial planning in the clients best interest and to act in accordance with the highest ethical and professional standards for the practice of financial planning.


CFP Examinations for Modules 1,2,3,4 are now conducted everyday. Student has to schedule his/her own Examination on the website www.nseindia.com. All the four modules will be conducted online viz. on real time basis.
Note: The CFP Examination are as follows

Examination 1 - (Risk Management and Insurance Planning), Examination 2 - (Retirement Planning and Employee Benefits), Examination 3 - (Investment Planning) and
Examination 4 - (Tax Planning & Estate Planning)
A candidate needs to be registered with FPSB India and have a NCFM Number to register for CFP examination.
A candidate can register with FPSB India by submitting the New FPSB India Registration Form along with a DD of Rs. 7500/- drawn in favour of “Financial Planning Standards Board India ” payable at Mumbai to his education service provider.
One can obtain a NCFM Number by registering himself/herself on the NSE website as follows
Log on to the website www.nseindia.com
Click on NCFM on the top menu bar of the website
Select – Online Register / Enroll
Click - New User? Register here
Fill up the online form completely
Check the filled up form thoroughly. Ensure that your name, date of birth, email id and mobile number has been filled up correctly.
Click on Submit after checking the form once again
The NCFM Number will be sent on your email id.
NOTE: In case you have already taken any other module or exam from NSE/NCFM you would already have a NCFM number, DO NOT create a new NCFM number in that case

A Fresh candidate can appear for any module examination (except 5th module) after 60 days of his /her registration with FPSB India. A candidate will not be able to view the CFP modules on NSE site in case he has not registered with FPSB India.
After obtaining the NCFM Number or candidates already having NCFM Number, in both the cases, the candidates will have to create their User ID & Password on the NSE website as follows
Log on to www.nseindia.com
Click on NCFM on the top menu bar of the website
Select Online Register / Enroll
Click on “Existing NCFM Candidates can click here to obtain their User ID & Password”

After creating the user id and password, upload your recent passport size photograph on the NSE website.
Note: It is mandatory for all students to upload their photographs with NSE, if not done earlier. The same has to be done at www.nseindia.com

Choose the module you want to appear for. For example Risk Management and Insurance Planning
Select the name of City where you want to take the test and the date/month/year you wish to take the exam.
Note: CFP Exams for modules 1,2 3,4 are now conducted in 71 cities in India . The examinations will be centrally administered by National Stock Exchange of India (NSE), at their test centers.Examination Centers for Module 1, 2, 3 & 4 will be decided as per the vacancies and slots available with NSE at the time of enrolment for the Examination.

View the seats available.
Note: All the Exams are of 2 hours duration. Students can schedule any number of Examinations as per availability of seat.

Book your seat
Note: Request for carry forward of examination OR request for change in exam dates, change in exam & change in exam centre etc. would NOT be entertained by FPSB India under any circumstances, hence select the date carefully

Pay the Examination Fee. Examination fee can be paid in three ways i.e. online by debit/credit card or by cash at the designated ICICI Bank branches or net banking. Enrolment/registration for Examination can be done only on payment of fee to NSE. For more details refer website www.nseindia.com .
Note: The Examination Fee has been revised as below:

For students taking the examinations during the dates 14th July 2008 to 9th August 2008: Rs 1,000/- per ExaminationFor students taking the examinations from 11th August 2008 to 31st March 2009: Rs 1,500/- per Examination
For students taking the examinations from 1st April 2009 onwards: Rs 2,000/- per Examination

Admit card (Hall ticket) will be generated by the system. Students are required to take a printout of their admit card and carry the same to the test center. The student will be informed about the examination schedule via SMS alert.
Candidates have to carry a photo ID Proof to the exam hall. For example, PAN Card, Driving License, Passport.
Candidate who do not attend the Examination in spite of registering for the exam will be considered as absent for the said examination.

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