CERTIFICATE IN INTERNATIONAL CASH MANAGEMENT (NEW)

The ACT is committed to upholding the professional standards of treasurers and cash managers, and those with cash management responsibilities, to help them be more effective in their jobs. It is essential that we ensure our qualifications remain relevant and reflect the needs of the profession. Changes to qualifications are a natural part of our ongoing education program and the ACT’s commitment to be the standard bearer for treasury. As part of this evaluation, we reviewed both the Award in Cash Management Fundamentals and the Certificate in International Cash Management (CertICM), and both qualifications have been updated. 

As the previous CertICM was made up of two qualifications, the Award in Cash Management Fundamentals (AwardCMF) and the CertICM, the new update will be a distinct standalone qualification. We launched the new Award in International Cash Management (AwardICM) in September 2020 and the newly updated CertICM will start in January 2021. This qualification and its syllabus have been reviewed and revised against the ACT Competency Framework. This ensures we continue to have the most up to date and relevant qualifications for real-world treasury and cash management practice. The content is being updated, made more relevant and the delivery and assessment structure is changing.   

If you are studying the CertICM under the current syllabus (2016-2020) and wish to book an assessment, please click hereThe final assessment is April 2021.

1. IS THE CERTIFICATE IN INTERNATIONAL CASH MANAGEMENT RIGHT FOR YOU?

Perfect if you:

  • are a cash manager in a corporate who wants to demonstrate your expertise and dedication with a globally recognised qualification
  • have recently moved into a cash management role (or would like to), either within corporate treasury or as part of a general finance remit
  • want to expand your understanding of how cash management works at an international level
  • are a banker, relationship manager or a consultant who needs to understand international cash management from the perspective of the corporate in order to advise clients more effectively.
1.1 COURSE STRUCTURE

LEARNING

Six online units

6-12 months study time 

(250 study hours)

ASSESSMENTS

One online exam

2-hour exam

MEMBERSHIP

You are a Student member of the ACT while you study and once qualified, you are eligible to become an Affiliate member.

1.2 COURSE CONTENT

The Certificate in International Cash Management is made up of the six units below. For full ACT accreditation you will need to complete all six units and sit the assessment.

Unit 1: The International Cash management (ICM) context and role of banks

This unit provides a detailed overview of the importance and contribution of effective international cash management to organisations.  It also explores the impact of both internal and external factors on international cash management planning and activities. 

The unit then moves on to examine the role and contribution of a range of third-party organisations which provide products and services to support international cash management.  These third parties include both bank and non-bank organisations.  There is also discussion on how the landscape is changing in respect of these third-party organisations.  The unit includes a detailed review of the main products and services available from these organisations, such as pricing and documentation.  Understanding the range of products and services available and their application is crucial to the implementation of effective international cash management solutions.

On completing unit one you will be able to:

  1. analyse the importance and contribution of effective international cash management 
  2. analyse the impact of the organisation’s internal and external environments on international cash management planning and activities 
  3. evaluate how banks and other organisations can facilitate international cash management 
  4. evaluate the main international cash management products and services available.  

Unit 2: Managing liquidity - visibility and availability

This unit focuses on cash, both in terms of visibility and availability.  It examines a range of different tools and techniques used to identify cash to improve its visibility, then moving on to explore different techniques in cash flow forecasting, including technological advances in this area. 

The unit then considers the concept of availability of cash, including techniques in calculating and forecasting available balances.  Techniques in creating optimal structures are also explored.  Both achieving visibility and availability of cash are crucial elements of effective international cash management.

On completing unit two you will be able to:

  1. evaluate different tools and techniques to identify and monitor cash 
  2. evaluate the use of and approaches to cash flow forecasting 
  3. evaluate the importance of availability of cash 
  4. evaluate different tools and techniques to manage and improve availability.   

Unit 3: International cash management tools and techniques

This unit focuses on the application of a range of practical international cash management tools and techniques.  It examines the importance of payables and receivables management, as well as exploring the main methods of making and receiving payments and their implications. 

The unit then goes on to explore techniques used in both short-term borrowing and investing.  Different methods and instruments for each are discussed and their relative characteristics examined.  The importance of cash concentration is also explored, including different techniques and the implications of their application.

On completing unit three you will be able to:

  1. evaluate the main characteristics of payment tools 
  2. evaluate the strategic characteristics of receivables tools 
  3. determine the cost of short-term borrowing 
  4. determine the cost of short-term investing 
  5. evaluate cash concentration solutions in international cash management.  

Unit 4: Risk management of ICM  

The focus of this unit is on the important area of risk management.  It considers a range of specific risks that might be encountered in international cash management.  In addition, it evaluates different tools and approaches that can be used to deal with risks that arise. 

The emphasis then turns to governance, compliance, cultural and ethical issues and their impact on international cash management.  Specifically, the focus is on exploring different approaches to measuring and managing performance.  A range of reporting, monitoring and control techniques are also examined.  Finally, there is discussion on the key ethical considerations and influences on international cash management decisions. 

On completing unit four you will be able to:

  1. identify risks relating to international cash management 
  2. evaluate different tools and approaches for mitigating risks in international cash management 
  3. discuss approaches to measuring and monitoring performance 
  4. discuss different reporting, monitoring and control techniques 
  5. discuss the main ethical considerations and influences. 

Unit 5: The impact of accounting, tax and regulation   

This unit concentrates on issues for international cash management decisions, activities and planning in relation to accounting, tax and regulation.  It considers all relevant regulation and legislation and the impact of these on decisions relating to international cash management.  Similarly, relevant accounting practices and conventions are considered in relation to the practical application of international cash management tools and techniques.  Finally, effective international cash management decisions must take account of any potential tax implications for the organisation and so these are discussed at the end of the unit. 

On completing unit five you will be able to:

  1. ​discuss the impact of regulation and legislation 
  2. discuss the impact of accounting 
  3. discuss the impact of tax. 

 

Unit 6: Developments in ICM 

This final unit focuses on key developments in international cash management.  It is important to understand that organisations do not exist in a vacuum; the world in which business is transacted continues to change and organisations must adapt to survive.  In particular, the unit focuses on changing technologies and their impact on international cash management both in terms of systems used internally and broader market developments. 

Consideration is then given to new and emerging trends that will impact international cash management.   Such trends are emerging on a local, regional and global scale and may be driven by technology or other factors.  This element of the syllabus will be evolving continually and so wider reading to maintain awareness of emerging topics is highly recommended.  The content suggested below is very much indicative and will evolve over time as new developments arise.  

On completing unit six you will be able to:

  1. evaluate how technology is being applied to ICM 
  2. evaluate how technology is driving efficiencies in ICM 
  3. discuss trends, practices and the impact of these on ICM. 

 

1.3 ENTRY REQUIREMENTS AND EXEMPTIONS

The progressive learning structure of ACT qualifications means entry requirements apply.  

Our qualifications pathway is designed to support you at every level of your career. There are however a number of ways for you to get recognition for what you have already learnt and achieved through your previous studies of either professional qualifications or at university. This may result in exemptions. 

I have completed the Award in International Cash Management

You get automatic entry to the Certificate in International Cash Management if you have successfully completed the Award in International Cash Management.  

You don’t have to provide evidence of any qualifying experience, because we will have a copy of your results already. 

I have completed the Award in Cash Management Fundamentals 

You get automatic entry to the Certificate in International Cash Management if you have successfully completed the Award in Cash Management Fundamentals.  

You don’t have to provide evidence of any qualifying experience, because we will have a copy of your results already. 

Prior work experience  

If you have three years’ experience of working in a cash management role or working with cash management in either a financial institution or a treasury consultancy, then you may be exempt from the Award in International Cash Management (AwardICM) and eligible for direct entry onto the Certificate in International Cash Management (CertICM). 

We recommend that you do take the AwardICM to get a full grounding in the cash management context, however you can begin your studies with the CertICM if you prefer to do so. When booking for the CertICM, you will need to complete and upload a work experience declaration form. 

If you are unsure that your work experience is sufficient to begin with the CertICM, then take a look at the operational level of the ACT Competency Framework. If you recognise these competencies in your personal work, then the CertICM will be a suitable starting point for your studies. 

If prior work experience exemption applies to you, the work experience declaration form will be available to download and complete on the booking form. 

Qualified accountant 

If you are CIMA, ICAEW or ICAS qualified, or from one of their reciprocal member bodies, you are exempt from the Award in International Cash Management.  

You are eligible to fast track onto the Certificate in International Cash Management.  

Take a look at the accountancy exemptions  information to see which exemptions apply to you. 

If these accounting exemptions apply to you, you will be able to buy your exemption from the Award in International Cash Management at the same time as you buy your Certificate in International Cash Management. 

Qualified with an ACT accredited university 

If you are studying or have studied with one of our accredited universities, you may be exempt from the Award in International Cash Management. Select your university for more detailed information on how to apply based on your qualification. 

None of the above applies to me  

You will first need to successfully complete the Award in International Cash Management in order to become eligible to move onto the Certificate in International Cash Management. 

2. HOW YOU LEARN

This qualification is delivered online through the ACT Learning Academy study site. As it is accessible online, you can start your studies at any time.  

We offer three assessment sessions a year and you book when you feel ready.  

The qualification is 250 study hours in length, and we estimate you should be able to complete the course in 6 -12 months. 

Learning licence

When you buy your learning materials you will have access to them for 18 months upon booking.

You can complete the learning for all the units in 6-12 months, so the 18-month learning licence gives you plenty of time to choose when you want to sit your assessment. 

Learning materials

Online learning materials include:

  • study guides that take you through the learning step-by-step 
  • study guides can also be downloaded, if you prefer to learn offline 
  • progress tests after each unit 
  • practice exams 
  • recorded webinars and podcasts
  • revision webinars. 

 

2.1 LEARNING SUPPORT

When you book the online course you will receive a variety of learning support, which includes: 

  • learning materials - download in PDF or to your eReader device 
  • progress tests to check your understanding 
  • 1-2-1 coaching session - one 2-hour support online with your tutor to discuss your preferred topic 
  • one online revision webinar to help you prepare for your assessment 
  • student discussion forum - post questions to the tutor and network with likeminded students 
  • recorded webinars and podcasts 
  • access to study techniques and tips 
  • access to additional resources to expand and enhance your knowledge.  
2.2 FREE SAMPLE MATERIAL COMING SOON
If you'd like to see a free sample of the study materials for the Certificate in International Cash Management so that you can try before you buy, express your interest by filling in the form from the link below. Register your interest
3. ASSESSMENT

You can take your assessments from anywhere in the world, wherever you have a reliable internet connection.

There are three online assessment windows every year for the exam. This means you can study until you feel ready and then you can book your assessment time for the next available window.

LENGTH FORMAT NOMINAL PASS MARK

120-minute exam

60 Multiple-choice questions and 4 long form questions 

 

50%

You can view all the 2021 dates and detailed assessment information here:

Find out more

4. STUDENT MEMBERSHIP

When booking onto the Certificate in International Cash Management you will need to become a student member of the ACT.  Your student membership is valid for the duration of your 18-month learning licence, or until you pass your qualification, whichever is soonest. If you purchase the AwardICM/CertICM membership bundle, your membership will be valid for 30-months.

Student membership gives you access to lots of great things: 

  • booking your assessment
  • subscription to The Treasurer magazine
  • careers resources
  • events, regional groups and webinars
  • policy and technical updates
  • mentoring service

Remember to take advantage of these benefits - they are an opportunity to broaden your knowledge and network. When you have successfully completed the certificate, you will be eligible to become an Affiliate Member and use the designatory letters CertICM. These are the internationally recognised letters that go after your name that recruiters and employers look out for, because they show you are a very credible candidate. You can find out more about ACT membership here.

5. FEES

Certificate in International Cash Management learning materials, membership and assessment fees:

When you start studying, you buy your online learning materials and student membership at the same time.

If you buy the AwardICM and Certificate in International Cash Management at the same time, you will pay a discounted fee.

Your assessment can be booked at a later date, when you feel prepared and ready to sit the exam.

Online learning material for AwardICM and CertICM package GBP 3,500 
Online learning material for CertICM only GBP 2,500  
Online assessment  GBP 160
Student membership CertICM GBP 176
Student membership AwardICM/CertICM package GBP 250

Fees are subject to local rate of VAT where applicable.

6. BUY YOUR LEARNING MATERIALS AND STUDENT MEMBERSHIP
Bookings open Monday 19 October 2020
CertICM course start date Monday 18 January 2021

When you buy your learning and membership, you will need to log in to your ACT Learning Academy account. If you do not have one, you will be prompted to create one. 

Have your credit/debit card details to hand; you will be required to make an online payment through Stripe. We accept AMEX, Mastercard and Visa card payments. Upon submission, you will receive an automated summary email. 

A student membership fee is payable on booking. Your student membership is valid for the duration of your 18-month learning licence, or until you pass your full qualification, whichever is soonest. If you purchase the AwardICM/CertICM membership bundle, your membership will be valid for 30-months.

Your booking will be processed within five working days.  

You will be sent a booking confirmation with information on how to start your studies and at this time you will become a Student member of the ACT. 

Buy qualification

7. BUY YOUR ASSESSMENT
Next assessment date 15 July 2021
Bookings open 11 January 2021
Booking deadline Thursday 17 June 2021, closing at 4pm BST

When you buy your assessment, you will need to log in to your ACT Learning Academy account. If you do not have one, you will be prompted to create one.

Have your credit / debit card details to hand; you will be required to make online payment through Stripe. Upon submission, you will receive an automated summary email.

Your booking will be processed within five working days.

Buy assessment

I can’t recommend the ACT enough for all Treasury professionals wanting to develop and expand their treasury knowledge!
Olivia Hall, Treasury Dealer, The Weir Group PLC
BOOKING FOR YOUR TEAM

We can also deliver cash management learning to companies with teams that are interested in taking either the full qualification or selected units, and tailor it to your business needs. Find out more about in-company solutions here.