DIPLOMA IN TREASURY MANAGEMENT

Become a confident professional across all areas of treasury management. By taking the Diploma in Treasury Management (AMCT), you will become the go-to person for in-depth technical treasury expertise, and respected for your ability to problem solve and enable the business to meet its objectives.

1. IS THE DIPLOMA IN TREASURY MANAGEMENT RIGHT FOR YOU?

Perfect for you if you:

  • work in treasury or corporate finance at a managerial level
  • work in treasury or corporate finance at a senior operational level
  • are in a role that works closely with treasury or corporate finance
  • have completed the Certificate in Treasury (CertT)

The qualification builds on the knowledge gained in the Certificate in Treasury and the syllabus covers funding requirements of the business and the resources available to support those decisions, in addition to consideration of risk management and mitigation strategies for a wide range of complex and interrelated risks.

1.1 COURSE STRUCTURE

LEARNING

Four online units

12-18 months study time 
(600 study hours)

ASSESSMENT

Units 1 and 2: One online exam per unit
Units 3, 4A and 4B: One assignment per unit

Units 1 and 2: 3 hour exam per unit 

MEMBERSHIP

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

1.2 COURSE CONTENT

This Diploma in Treasury Management is made up of four units. The first three are mandatory and for the last you can choose between two units to take as your final unit based on your area of preference. The options have been designed to allow you to specialise according to your personal interest and cover either financial reporting and tax regulation or trade finance. For full ACT accreditation you will need to complete four modules and sit the assessments. 

Unit 1: Corporate finance for treasury

The unit begins by setting the context in which corporate finance strategy is developed, providing an introduction to concepts such as expected shareholder returns and the funding decisions that must be taken in response to the risk appetite of the organisation. It then explores corporate finance theory and the cost of capital before moving on to an analysis of both equity and debt as sources for finance for the organisation. The unit then turns to project appraisal and consideration of some of the more advanced business evaluation techniques and concludes with a discussion of what corporate finance means for treasury in practice and the role that treasury should play in the management of capital structure.

On completing unit one you will be able to:

  1. Evaluate how shareholder value is integral to the development of appropriate corporate finance strategy.
  2. Apply corporate finance theory to the identification and implementation of a capital structure that will meet the organisation’s objectives.
  3. Implement strategy to manage expectations of equity investors.
  4. Critically assess a range of debt funding sources, in order to support the objectives of the organisation.
  5. Utilise the appropriate valuation and project appraisal model to aid decision making and the ongoing management of projects, acquisitions and disposals.
  6. Recommend an appropriate treasury structure, which will support the achievement of the organisation’s corporate finance objectives, whilst ensuring relationships with key stakeholders are effectively managed.

Unit 2: Risk management for treasury

To manage risk effectively, the company must first understand the risks to which it is exposed and determine its own appetite for risk. Having identified why a risk management policy is important and how the risk appetite of the organisation will influence decision making, the unit follows the structure of a generic risk management framework to explore the ideas of risk identification, evaluation and management.

The unit will provide practical techniques for identifying and assessing the relative importance to the organisation of a range of treasury and other risks. A range of quantitative and qualitative approaches to risk measurement will be covered, in order to enable the systematic evaluation of risks. The unit will then investigate the ways in which risks can be managed. Finally, the unit will analyse how risk is reported, both internally and externally, and how the effectiveness of risk management is reviewed and fed back into the risk management process.

On completing unit two you will be able to:

  1. Evaluate the key factors which organisations should take into account when establishing a robust and integrated risk management framework.
  2. Assess the risks which treasury has responsibility for managing in variable economic, political and commercial environments in order to ensure treasury can put in place appropriate risk management techniques for commercial situations.
  3. Appraise various practical techniques for the evaluation of treasury and interrelated risks to identify the materiality of the risks which an organisation faces.
  4. Recommend the use of appropriate risk management techniques in managing those risks that have been identified, prioritised and evaluated.
  5. Evaluate reporting and governance in the risk management process to ensure the risk appetite and tolerance of the organisation is not exceeded and that the risks which an organisation faces are being appropriately communicated to stakeholders.

Unit 3: The treasury manager

The assignment requires you to adopt a structured approach to research a treasury management issue. This will involve analysing technical, business and behavioural issues and then developing practical recommendations which can be implemented in the current economic environment.

It will require the application of the business and behavioural skills found at the managerial level in the ACT’s competency framework and the resource guide which supports this unit will signpost you to a variety of resources to support the specific learning outcomes of this unit.

The scenario provided will enable you to demonstrate an appreciation of both treasury and firm-wide issues by applying treasury best practice in a managerial context.

On completing unit three you will be able to:

  1. Set departmental, team and personal objectives and manage others to implement actionable and measurable plans within the agreed time, budget and quality parameters in order to support the achievement of the organisation’s objectives.
  2. Manage and control the financial and risk management responsibilities of a treasury department whilst ensuring that internal financial controls are applied in accordance with relevant legislation.
  3. Manage staff to collect and analyse data to produce timely reports and recommendations for colleagues and stakeholders, in order to help solve issues, minimise risk and justify strategic decision-making.
  4. Demonstrate the added value which an effective treasury team provides to an organisation.
  5. Persuade, negotiate and/or convince internal and external stakeholders to support particular ideas or plans to maximise the value of the business, and support others to do likewise, including managing a team to achieve objectives and synthesise conflicting views in order to formulate appropriate strategies.

Unit 4A: Financial reporting, tax and regulation for treasury

This unit provides an understanding of the key aspects of regulation, reporting and tax that treasurers need to understand.

The key financial accounting considerations when undertaking treasury transactions are explored in order to ensure that accounting and reporting of such transactions is accurate and the possible implications of such transactions on the financial results of the organisation are fully understood. Issues of regulation, documentation and taxation are also explored to enable the treasurer to make informed decisions about how best to structure their activities.

On completing unit four A you will be able to:

  1. Understand the key aspects of reporting, regulation, documentation and taxation that impact on treasury activities.
  2. Evaluate the impact of the organisation’s structure on accounting for treasury.
  3. Recommend how treasury transactions might be structured to mitigate the impact of accounting standards.
  4. Recommend how treasury policies and procedures can be developed to reflect corporate governance requirements.
  5. Evaluate the terms and conditions commonly occurring in legal documentation in order to develop and understand the implications of legal contracts underpinning financial transactions.
  6. Interpret developments in financial regulation in the context of its application to corporate treasury.
  7. Evaluate the impact of tax regulation on the structure of the organisation and activities undertaken by treasury.

Unit 4B: Working capital and trade finance

The unit establishes the differences between working capital (cash optimisation) and trade finance (risk mitigation) and the importance of each to the organisation as a whole.

The key elements of working capital will be examined, and techniques identified to enable the treasurer to recommend solutions for the organisation that balances the conflicting demands of the working capital cycle. The unit evaluates the various tools that may be used to manage the risks associated with trading both domestically and internationally and identified a number of key payment processes that offer alternative risk profiles to enable the treasurer to meet the risk appetite of the organisation.

Finally, the unit explores how the role of treasury interlinks with working capital and the provision of trade finance solutions.

On completing unit four B you will be able to:

  1. Analyse the range of practices, procedures, and risks inherent in domestic and international trade in order to manage the complexities and risks involved.
  2. Critically assess accounts receivable, accounts payable, supply chain and inventory control in order to recommend how the organisation can optimise these processes whilst minimising cost and maintaining operational flexibility.
  3. Recommend the appropriate trading arrangements for domestic and international trade in order to manage the risks arising from such trading and support the operations of a business.
  4. Evaluate appropriate specialised financing techniques in order to manage the cash flow risks arising from the additional complexities arising when transacting internationally.
  5. Appraise the importance of optimising working capital for domestic and international trade in order to develop strategies for working capital management, including the role of IT.

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 ranging from one study unit to the whole qualification.

I have completed the Certificate in Treasury

You get automatic entry to the Diploma in Treasury Management if you have successfully completed the Certificate in Treasury

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 Certificate in International Treasury Management

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

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

 

Qualified accountant

If you are an accountant qualified with either CIMA or ICAEW, you can claim exemption from Units 1, 3 and 4B.

  • You get automatic entry to the Diploma in Treasury Management if you have successfully completed the Certificate in Treasury. (you may be eligible for certain exemptions of the Certificate in Treasury - you can check here). 
  • You only need to complete the learning and assessment for Units 2 and 4A in order to qualify for the Diploma in Treasury Management.
  • You will need to provide a copy of your accounting qualification certificate when booking.

 

If you are an accountant qualified with ACCA, you can claim exemption from Units 1, 2 and 3.

  • You get automatic entry to the Diploma in Treasury Management if you have successfully completed the Certificate in Treasury. (you may be eligible for certain exemptions of the Certificate in Treasury - you can check here). 
  • You only need to complete the learning and assessment for 4A and 4B in order to qualify for the Diploma in Treasury Management.
  • You will need to provide a copy of your qualification certificate when booking.

 

Prior work experience

If you have seven years’ experience of working in a treasury role or working with treasury in either a financial institution or a treasury consultancy, then you may be:

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

TO APPLY FOR DIRECT ENTRY YOU MUST:

  • be able to demonstrate working at a senior level within treasury
  • have had significant exposure to a variety of activities within treasury and are likely to be currently working at a level which involves the following scope and complexity:
    • you have advanced practical, conceptual or technical knowledge and understanding of treasury to create ways forward in situations where there are many interacting and complex factors
    • you demonstrate the ability to translate corporate finance theory into practical actions for the organisation
    • you understand how treasury policies, procedures and controls play a key role in corporate governance and best practice, considering the high-risk nature of treasury operations
    • you can confidently put in place solutions to financial challenges within your organisation
    • you can use, and where appropriate, design relevant research and development to inform actions and decisions
    • be able to demonstrate a strong match with the Certificate in Treasury (CertT) syllabus and learning outcomes throughout the application process

CertT syllabus

 

HOW THE DIRECT ENTRY APPLICATION PROCESS WORKS

The application process requires an administration fee. Once this is received, you will be sent a link to your online self-assessment form. When you have submitted your self-assessment, your application will be reviewed by a panel of industry experts in partnership with the ACT. On completion of this review, we will be in touch with you to discuss the outcome and advise the best course of action for you.

Direct entry to Diploma in Treasury Management application fee: GBP 200 (non refundable)

APPLICATION PROCESSING TIME

Once payment has been received and we have received your completed application form:

  1. You will receive an automated email confirming receipt of your application.
  2. Your application will be reviewed by the panel.
  3. You will be notified of the outcome of your application within four weeks of submission.

Have your credit/debit card details to hand, you will be required to make online payment through WorldPay

Apply now

 

THE OUTCOME

You cannot gain part exemption from the Certificate in Treasury (CertT).

This process either confirms that you can gain direct entry onto the Diploma in Treasury Management or you are advised to study the Certificate in Treasury.

If you are awarded full exemption from the Certificate in Treasury, you will be required to pay for your exemptions, you will not receive a certificate and you will not be able to use the designatory letters after your name. If you would like to be able to use the designatory letters after your name, you can choose to sit at least one of the unit exams, which you will be required to pass.

Once you pass your Diploma in Treasury Management, you will receive a certificate and will be eligible to use the designatory letters AMCT after your name.

 

If you have any questions or would like more information then email assessment@treasurers.org or telephone the team at +44 (0)207 847 2527.

 

CTP qualified

If you hold the Certified Treasury Professional (CTP) qualification you get direct entry to the Diploma in Treasury Management. You will need to provide a copy your qualification certificate when booking.

 

None of the above applies to me

You will first need to successfully complete the Certificate in Treasury in order to become eligible to move onto the Diploma in Treasury Management.

 

2. HOW YOU LEARN

All four units of the Diploma in Treasury Management are delivered online through the ACT Learning Academy study site. As they are accessible online, you can start your studies at any time.

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

Each unit will take you approximately 150 hours of study time to complete, with 600 hours study required in total. We estimate you should be able to complete the course in twelve to eighteen months alongside your full-time work.

Learning licence

When you buy your learning materials you will have access to them for 36 months upon booking.

You can complete the learning for all the units in 12-18 months (600 study hours in total), so the 36-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 take you through the learning step-by-step
  • Study guides can also be downloaded, if you prefer to learn offline
  • Webinars which explain certain concepts in more detail
  • Podcasts to supplement your learning
  • Practice progress tests after each unit
  • Practice exams

Learning support

Online learning support includes:

  • Student discussion forum
  • Online tutor support forum
  • Access to study techniques and tips
  • Access to additional resources

To help you plan your learning around your existing work / life commitments, take a look at the following suggested study plans.

They show a guideline of how you can complete the course in either 12 or 18 months.

2.1 FREE LEARNING MATERIALS SAMPLE
Would you like a free sample of the study materials for the Diploma in Treasury Management so that you can try before you buy? You can request for a sample to be emailed to you by filling in your details in the form below.

3. ASSESSMENT

Whilst you are studying it’s up to you to decide when you are ready to opt in and take your assessment. You can take your assessments from anywhere in the world, wherever you have a reliable internet connection.

Assessment for the Diploma in Treasury Management is either by assignment or examination, depending on the unit. There is one assessment for each of the units of the qualification. There are two exam windows each year to choose from.

UNITS LENGTH FORMAT NOMINAL PASS MARK
Units 1 and 2 180-minute exam per unit 1 pre-seen case study based question and 2 scenario based questions per exam 50%
Units 3, 4A or 4B n/a Scenario based assignment 50%

You can view all the 2019 dates and detailed assessment information here:

Find out more

4. STUDENT MEMBERSHIP

When booking onto the Diploma in Treasury Management you will need to become a student member of the ACT.  Your student membership is valid for the duration of your 36 month learning licence, or until you pass your full qualification, whichever is soonest.

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 membership benefits - they really help make your introduction into treasury a fuller experience and will ensure you make valuable contacts which can impact your career, especially if you’re just starting out! When you have successfully completed the certificate, you will be eligible to become an Associate member and use the designatory letters AMCT. These are the internationally recognised letters that go after your name that recruiters and employers look out for as they show you are a very credible candidate. You can find out more about ACT membership here.

5. FEES

Diploma in Treasury Management learning materials, membership and assessment fees:

When you start studying, you buy your online learning materials and student membership at the same time. Your assessment can be booked at a later date, when you feel prepared and ready to the sit the exam.

Online learning materials - per single unit

GBP 575

Online learning materials - 4 unit bundle

GBP 2,200

Online assessment

GBP 260

Student membership

GBP 173

Fees are subject to local rate of VAT where applicable.

Diploma in Treasury Management exemption fees:

The following fee applies if you are eligible for an exemption from the Diploma in Treasury Management:

Exemption per unit GBP 260

Fees are subject to local rate of VAT where applicable.

6. BUY YOUR LEARNING MATERIALS AND STUDENT MEMBERSHIP

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 online payment through WorldPay. 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 36-month learning licence, or until you pass your full qualification, whichever is soonest.

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

 

If you are applying for direct entry with prior work experience, please download the work experience declaration form below. You will need to upload the completed form when you book.

 

7. BUY YOUR ASSESSMENT
Next assessment window for Units 1 and 2 online exams 29 October - 30 October 2019
Bookings open for Units 1 and 2 online exams 15 April 2019
Booking deadline for Units 1 and 2 online exams Friday 4 October 2019, closing at 5pm
Next assessment window for Units 3, 4a and 4b assignment 4 November 2019
Bookings open for Units 3, 4a and 4b assignment 15 April 2019
Booking deadline for Units 3, 4a and 4b assignment Friday 20 September 2019, closing at 5pm

When you buy, you will need to log in to your ACT Learning Academy account. If you have not got 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 WorldPay. Upon submission, you will receive an automated summary email.

Your booking will be processed within five working days.

Buy assessment

8. ADDITIONAL LEARNING SUPPORT

If you would like some additional support to help you get assessment ready, you can book an intensive revision learning workshop, or some 1-2-1 coaching in addition to your online learning package.

Find out more

I have already been scouted for various firms who have been impressed with the addition of AMCT to my CV, so it must hold a significant amount of clout.
Andrew Stewart, Financial Risk Consultant, JC Rathbone Associates
BOOKING FOR YOUR TEAM

We can also deliver treasury 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