Being at the center of financial transactions, makes treasury a likely target for cybercrimes. Treasurers are not required to be cybercrime experts but do need to understand what areas they are the most vulnerable and what general principles should be applied to prevent cybercrime.
This module offers an extensive and detailed overview of the field of international cash management and emphasizes the state of the art practice.
The module starts with the international banking infrastructure. This includes the principles of international payments, the most common payment systems and the role of correspondent banking. Examples of topics covered are check clearing, SWIFT, ACH, CHIPS, Fedwire, SEPA, EBA, EURO1 and TARGET. This module also deals with the information technology structure that connects corporates with banking payment systems. The latest developments are discussed, including blockchain technology and crypto currencies.
Netting and cash pooling techniques are also discussed (multilateral netting, netting cycle, leading and legging, notional pooling, cash concentration). Attention is paid to legal and fiscal aspects of international cash management (including withholding tax).
The working capital management, liquidity management and ST financing disciplines are integral and essential to the daily practice of treasury professionals. As theory building in this field is rather limited, a large number of practical cases/solutions are elaborated in this module.
In 2018, for example, guest lectures were given on the implementation of supply chain finance, module chain technology and security issues in treasury management systems.
After following this module, you:
- are able to optimize internal financing by applying cash pooling techniques;
- have an understanding of the legal, tax and accounting issues related to cash pooling;
- understand the concept and limitations of working capital financing and trade financing;
- have a basic understanding of payment innovations and block chain;
- understand what and how treasury management systems are used and understand the security aspects of these systems.