Executive Education Single Modules

Module Overview (15 Credit Module)

This module examines three aspects of Global Banking – Private Banking and Wealth Management, Retail Banking and Financial Inclusion. Each aspect will include discussion on the impact of developments in technology and digital banking, and incorporate Islamic Banking products in the appropriate context. The module will examine the wide panorama of the banking world - from High Net Worth Individuals (HNWI) to Financial Inclusion. Throughout the module relevant case studies will be used from various geographies to illustrate the changing face of retail banking.

Private Banking and Wealth Management will consider the relationship between Private Banking and Wealth Management under the impact of technology which result in changes in the nature of service provision. The demands arising from customer demographic changes, including the emergence of ESG considerations, will be examined for their impact on product design and provision. Changing patterns of cross border financial flows will be examined, together with their implications for regulation and Anti Money Laundering (AML). Islamic Finance and Banking for HNWI will be considered as an integral part of the discussion.

Of all banking sectors Retail Banking has probably seen the most changes worldwide over the last three decades, with shrinkage in branch banking and greater emphasis on online banking services. The module will examine the challenge of providing banking services in sparsely populated areas, including the opportunities to serve Unbanked communities globally. The Retail Banking space will be surveyed to appreciate competitive pressures and profitability driving change, including the introduction of ESG considerations, impact of technology and mobile service access, the emergence of Digital only/Challenger banks, and Islamic Banking retail equivalents. These changes will be examined as challenges for banking regulation and capital requirement.

The level of the Unbanked Population globally will be examined, and related to Financial Inclusion as a key part of the UN SDGs (United Nations Sustainable Development Goals). The growth of microfinance in the last four decades, often enabled by technology which has mitigated service provision costs, will be reviewed together with the need for supporting smart phone infrastructure. Developments in microfinance, mobile banking and microinsurance applications will be considered with appropriate reference to Islamic banking products and sustainability criteria. Case studies from Bangladesh, Ethiopia, Kenya, and Pakistan will be critically reviewed, including possible pathways from microfinance to conventional retail banking.

Means of Assessment

This module is assessed by means of a single mini project of 3,500 words in length

Learning Outcomes

• Critically analyse recent developments and future potential in global banking, specifically private banking and wealth management, retail banking, and micro-finance for financial inclusion
• Critically review the nature of competition across the banking panorama, and the challenge this presents for regulation - particularly for digital-only activities
• Evaluate the empowering potential of technology to improve service provision, whilst also widening access

Module Overview (15 Credit Module)

Banks and financial markets are inherently vulnerable to crises and how policy makers and institutions have responded to these circumstances is investigated and questioned. The ethical principles and expected professional standards within key financial services areas including lending, investment and trading are explored, as are the role of individuals, organisations and corporate governance arrangements in financial services decision making. Compliance, risk management and corporate governance work as interrelated disciplines to provide essential regulatory assurance to the firm, and to improve the firm’s overall performance is critically examined.

Means of Assessment:

This module is assessed by means of an individual assignment (40%) and examination (60%).

Learning Outcomes

• Comprehend, evaluate, appreciate and assimilate the scope and constraints imposed by law and regulation.
• Critically analyse the importance of professional ethics and regulation in a contemporary context.
• Critically evaluate the subject specific roles, features and relationships within and between firms.
• Demonstrate the ability to make informed judgements and decisions in the context of banking and financial markets.
• Demonstrate the ability to make informed management and leadership judgements and decisions.
• Develop a questioning and evaluative understanding of financial services' characteristics and where these services are appropriately and ethically employed. Critically comprehend the implications of different strategic decisions for the firm.

Module Overview (15 Credit Module)

This module seeks to examine the practical and academic issues in financial analysis, covering financial accounting reports and the needs of the user. Building on the use of such statements as an information source, the module examines the problems associated with their use and enables students to develop an understanding of the place of such accounting analyses in the valuation of businesses. It will reflect on the importance of conventional statements, cash flow statements, current cost accounts and cash flow analysis in both a national and international context. The need for students to understand international reporting standards and their effect upon financial analysis is considered, with particular reference to comparative issues. The module will also consider various business valuation methods, with an emphasis on critical comparison and reflection on the usefulness and accuracy of the various methodologies.

Aims & Objectives

On completing this module students will:

• Be able to apply financial analysis techniques to financial statements and to understand the strengths and limitations of such analyses
• Be able to apply appropriate ratio analyses to assess current performance and indicate future performance of a company
• To understand and compare the major accounting system statements
• To critically evaluate the major valuation techniques and their limitations and be able to apply these to real world scenarios
• To understand and apply the key theories of financial analysis to specific real-world cases and reflect upon the value of the results of such analyses

Means of Assessment:

This module is assessed by means of a single mini project of 3,500 words in length.

Key Text:

Business Analysis & Valuation IRFS Edition (4th Edition) Palepu, Healy & Peek - Cengage Learning

Module Overview (15 Credit Module)

• Responsibility for compliance within capital markets has devolved to the front line and all employees are now expected to fulfil their role in combating financial crime. Whether your role is client facing, operational or in a support function this module will help you better understand your organisation's vulnerabilities to financial crime.
• The module will consider the prevalence, form and methods of financial crime undertaken by individuals, financial institutions and their employees. The student will learn the methods through which crime is undertaken including fraud, money laundering and terrorist financing, and the global regulatory environment and professional methods in which the effects of financial crime can be alleviated and minimised.

Adopting a professionally orientated approach to address the subject matter and focus on alleviation and management of the risks posed by financial crime in Banking and Finance. This module draws heavily on real case studies to allow students to analyse actual examples of financial crime and evaluate methods to address and limit the scale and scope of financial crime in financial institutions and markets.

Module Aims & Objectives:

• Successful completion of this module will enable students to:
• Synthesise and articulate a typology of financial crime and its predicate offences
• Describe the global, regional and local financial regulatory bodies and critically assess their functions and interrelationships
• Appraise the legal, ethical and regulatory requirements of financial firms to eradicating financial crime
• Understand the consequences of financial crime on society and the banking and finance sector
• Analyse real case studies to appreciate the complexity and prevalence of financial crime

Means of Assessment:

This module is assessed by means of a single mini project comprising a professional report considering the learner's business environment and local scenarios.

Course Overview

• The module introduces the phenomenon of financial crime and the scale of the problem. Setting the context of the centrality of the banking and finance sector in combating financial crime and the complexity of the issue. Case studies are introduced, and students are encouraged to engage with these throughout the module. The international, regional and national regulatory bodies are introduced and some of the terminology used by them.
• Drivers of financial crime including bribery and corruption, organised criminal gangs and human trafficking.
• Money laundering, terrorist resourcing and proliferation financing and the role of the financial sector and banker's professional obligations.
• Fraud is a substantial problem for banks and their customers. Understanding some of the drivers of fraudulent behaviours and methods to address fraud are critical.
• Risk management has moved from something done for front-line bankers to something that front-line bankers are expected to actively engage with. Understanding approaches to risk culture.
• The role of offshore financial centres and a globally interconnected banking system in facilitating financial crime.
• The socio-economic effects of financial crime and contemporary issues such as sanctions.

Module Overview (15 Credit Module)

This module explores the risk management function in modern, shareholder owned banks. A fundamental approach adopted is that financial institutions risk management is a central element of practical bank financial management. In this context risk management is seen practically as linking risk-taking (an essential economic role of banking firms) and financial management (managing these risks and the respective risk and return trade-offs in the most efficient way). The nature, strategic context and management of bank risks are examined.

Module Aims & Objectives

On completing this module students will:

• Understand the role of risk management
• Be able to undertake a risk management role in their institution
• Understand the theories underpinning risk management
• Understand the regulations relating to risk management within the banking and financial services sector
• Understand their responsibilities under the regulations and how to meet them

Key Text:

Financial Institutions Management: A Risk Approach (9th Edition) Saunders, A & MillonCornett, M —McGraw Hill

Means of Assessment:

This module is assessed by means of an individual assignment (40%) and examination (60%)

Unit One covers:

An introduction to FIRM and explains the main themes that run throughout the module. The structure of the module is outlined, and the main text introduced. An overview is provided of banking and its role in the modern financial services industry. The nature of bank competition, regulation and their impact on FIRM are explored. Finally, the imperative on efficiency and marked-based valuation are explored as fundamental themes in modern FIRM.

Unit Two aims:

• To examine a bank’s main financial statements and their relationship to the risks inherent in banking
• To understand how a bank’s performance can be evaluated
• To understand the & banking significance of bank Asset and Liability Management and risk management
• To analyse the nature and BFM significance of interest rate risk and liquidity risk to BFM
• To examine the off-balance-sheet activities carried out by banks and to appreciate their BFM significance
• To consider the impact of the crisis (the ‘credit crunch’) on these areas
• To appreciate the impact of the credit crunch on the banking risks covered in this unit and, especially, on capital adequacy management and regulation
• To understand the nature and key importance of bank corporate governance

Unit Three aims:

• To examine the nature and role of product and geographic diversification within a bank’s risk management
• To examine and understand how banks use derivative contracts to hedge their asset-liability risk exposures
• To analyse how loan sales and securitisation techniques are used by bank managers to control credit risk
• To consider some further changes to the banking risk landscape in the wake of the credit crunch

Module Overview (30 Credit Module)

The legislation and wider legal and regulatory environment for defining, identifying and countering criminal behaviours is discussed in the context of human trafficking, corruption, and cryptoassets. The module also considers techniques and methods of detection of these crimes and appropriate approaches to monitoring and reporting of these behaviours – from individual suspicious transactions to comprehensive law enforcement investigations.

Module Aims & Objectives

The module considers human behaviour in three contemporary and growing areas of financial crime – corruption, human trafficking, and cryptoassets. For each of these fields of financial crime, the module will outline how such crime develops, can thrive, can be detected and how such crime may be countered and combated. The module discusses appropriate responses for organisations and managers when confronted by such behaviour.

Key Text

The three course handbooks used on this module are accessed through the ManchesterCF platform. ManchesterCF is a specialist training provider in financial crime, and continually update their materials in response to changes in regulation. The materials will explore the theoretical concepts and practical aspects of corruption, human trafficking and cryptoasserts to introduce a wide range of real-world cases.

Unit 1 - FIU Connect Corruption
Unit 2 - FIU Connect Human Trafficking
Unit 3 - FIU Connect Cryptoassets

Means of Assessment

The mini-project assessment for Human Aspects of Global Financial Crime comprises two parts:-

1. Research that requires the student to identify the ‘current state-of-play’ for the Human Aspects of Global Financial Crime in their product & geographic areas of operation for each of the three topics in the module, & assess how these compare to developments in the industry globally. (5500 words and carries 75% module weighting).
2. A critical evaluation of ‘best practice for risk mitigation’ in Human Aspects of Global Financial Crime as indicated in the study materials & supplementary readings, across the three topics in the module (1500 words and carries 25% module weighting).

Module Overview (30 Credit Module)

The module considers the legislative and regulatory environment that defines and seeks to control financial crime associated with inappropriate exploitation of the physical environment, and money-laundering based on trade. The resulting economic sanctions that are often introduced to encourage compliance are assessed. The motivations for initial development and persistence of each crime are outlined and how they may be detected. Appropriate policy responses are introduced to counter and combat such crimes.

Module Aims & Objectives

The module considers the broader institutional context of societies around the world that are increasingly emphasising their concern about damage to the physical environment - both for current and future generations of citizens. Environmental crime ranges from pollution in-situ to the trade of environmental resources between nations. Sovereign governments often introduce economic sanctions on other nations or individual organisations (including banks) to restrict such trade. Providers of financial services require an appreciation of these forms of crimes in order to effectively engage with the sustainability agenda.

Key Text

The three course handbooks used on this module are accessed through the ManchesterCF platform. ManchesterCF is a specialist training provider in financial crime, and continually update their materials in response to changes in regulation. The materials will explore the theoretical concepts and practical aspects of trade-based, environmental crime and economic sanctions to introduce a wide range of real-world cases.

Unit 1 - FIU Connect Economic Sanctions
Unit 2 - FIU Connect Trade-Based Money Laundering
Unit 3 - FIU Environmental Crime

Means of Assessment

The mini-project assessment for Institutional Perspectives of Global Financial Crime comprises two parts:-

1. Research that requires the student to identify the ‘current state-of-play’ for the Institutional Perspectives of Global Financial Crime in their product & geographic areas of operation for each of the three topics in the module, & assess how these compare to developments in the industry globally. (5500 words and carries 75% module weighting).
2. A critical evaluation of ‘best practice for risk mitigation’ for Institutional Perspectives of Global Financial Crime as indicated in the study materials & supplementary readings, across the three topics in the module (1500 words and carries 25% module weighting).

Module Overview (30 Credit Module)

The module introduces the concept of money laundering, and common typologies of these behaviours. This includes consideration of legal obligations, regulation risk assessment and the levels of diligence and reporting which are required to counter money laundering. In this introductory module learners are introduced to aspects of critical thinking to inform the tasks of due diligence and problem solving for financial intelligence purposes. They develop the ability to research academic and professional literature, present information in appropriate manners both written and oral for different audiences (regulatory, corporate as well as academic).

Module Aims & Objectives

The module provides an introduction to the wider programme, and provides an education base for considering anti-money laundering. This includes an introduction to issues of money laundering and regulation, and the need for critical thinking and reflection in financial investigations. The module also reviews the fundamentals and standards necessary to produce information in a concise manner both written and oral to produce informative reports on financial intelligence for different stakeholders with an interest in scrutinising ‘compliance’.

Key Text

The three course handbooks used on this module are accessed through the ManchesterCF platform. ManchesterCF is a specialist training provider in financial crime, and continually update their materials in response to changes in regulation. The materials will explore the theoretical concepts and practical aspects of fundamentals of anti-money laundering, critical thinking and information presentation to introduce a wide range of real-world cases.
Unit 1 - FIU Connect Critical Thinking
Unit 2 - FIU Connect Fundamental AML
Unit 3 - FIU Connect Report Writing

FIU Connect Financial Investigations unit will also be provided as an overarching reader across the programme, and will be introduced during the  Introduction to Financial Crime & Compliance module.

Means of Assessment

The module is assessed by 2 components:

1. A report addressing the topic set about ‘Fundamentals of Anti-Money Laundering’, including reflection on the process of research and report preparation (4000 words)
2. Preparation and recording of a presentation related to the Fundamentals of AML component of the report (10 minutes duration)

Module Overview (15 Credit Module)

This module critically evaluates the contributions of various schools of thought in marketing and examines the relevant analytical models and management practices, with emphasis on the strategic importance of marketing to all organisations. It makes use of appropriate case studies and discussions to examine the key features of successful marketing campaigns and equips students with the skills necessary to critically evaluate the various theories and apply those most relevant within their companies / organisations.

Aims & Objectives

On completing this module students will:

• Understand the key theories and concepts of marketing strategy and its applicability to the banking and financial industries
• Understand how market research and information can be used to assist companies in reaching and expanding their customer base
• Analyse the marketing techniques and strategies used by their own and competitor companies and critically evaluate the success / appropriateness of these strategies
• Be able to critically evaluate the various marketing strategies and decide upon the most appropriate for use within their company
• Understand the role of marketing strategy in all companies and its contribution to the overall success of the company

Unit One:

The Unit examines how organisations can operate this philosophy by analysing their customers and how decisions are made about purchases.

On completion of this unit, you should appreciate:

• How the philosophy of marketing has developed over time
• The benefits of planning marketing
• How individual consumers behave
• How organisations buy
• The forces operating in the marketing environment
• How marketing research and information systems can assist in understanding environmental change
• Why and how markets should be segmented
• The unique characteristics of the marketing of services

Unit Two:

Unit Two starts from a recap of an organisation’s orientation towards marketing & how this relates to a range of stakeholders in the marketing environment. It then examines how competing solutions can be analysed.

On completion of this unit, you should appreciate:

• How to analyse competitors
• The sources of competitive advantage
• The management of existing products with a particular emphasis on the role of branding & re-branding
• The process of developing new products
• The pricing of products
• The issues of creating service offerings

Unit Three:

In this unit a broad outlook on “communicating” is presented:

• An awareness of the need to market not only to external customers, but also to internal customers to behave ethically in communicating with all stakeholders the benefits & challenges of a particular form of direct communication – the Internet
• The need for an Integrated Marketing Communications strategy
• The role of communication in the marketing of service activities

Module Overview (15 Credit Module)

This module looks at the key issues arising from contemporary research into human resource management (HR) and organisational behaviour (OB). It provides an integrated analysis of management, organisations and people and develops the conceptual, strategic and practical skills necessary for managers.

Module Aims & Objectives:

On completing this module students will:

• Be able to critically evaluate management & organisational theory and practice
• Be able to relate management theory to personal experience of a working environment
• Distinguish between types of organisational structure, culture and job design
• Appreciate the human resourcing aspects of managing and leading people
• Be able to critically assess the management processes involved in managing in an increasingly complex environment

Key Text:

Organisational Behaviour: Improving Performance and Commitment in the Workplace (6th Edition) Colquitt, J. Lepine, J. and Wesson, M. - McGraw Hill

Means of Assessment:

This module is assessed by means of an individual assignment (40%) and examination (60%)

Unit One – Individuals & People

This unit aims to introduce you to the whole area of organisation and management. Unlike other MBA disciplines, this cannot be described as a precise area of study with a clear and absolute list of contents. Instead, just like the groups of people you lead, it is a collection of disparate areas that collectively provide us with some insight into how we address this important area of management. At no point will we be talking about ‘right answers’ to people management problems. Instead, we will be looking at some of the cumulative knowledge that has been acquired over time, discussing alternative views and assessing potentials for successful application into the future.
For your ease of study, this unit is divided into seven parts, each section first identifying its learning objectives, the part of the textbook to be read, before providing you with additional knowledge and discussion if needed. Throughout the unit it is important for you to reflect what you are reading and learning back upon yourself and your own experiences.

Unit Two – Managing Organisations & People

The second unit introduces you to the area of Human Resource Management; how it came to be recognised as such an important area of organisational study and application; its link to the wider issue of strategy; its relationship with organisational structures and finally to begin our review of the key processes, concepts and practices that make up people management.
After the first section of this unit (which involves a discussion of what is commonly regarded as the historical development from what was originally known as ‘personnel management’ into today’s more commonly accepted ‘human resource management’), we will explore all relevant personnel-related issues, policies, systems and procedures.

Unit Three – Employee performance, development and relations

The aim of the third of unit is to provide you with an overview of the key issues, systems and processes involved in managing human resource performance, employee reward, development and involvement. Some of the key concepts you will come across whilst studying this unit include:

• Performance Plans (linking of organisational objectives with an individual employee’s responsibilities to produce a measurable list of the competencies and behaviours expected in performing a role)
• Performance Appraisal
• Employee Benefits (i.e. any tangible or intangible benefit an employee enjoys by being employed by an organisation)
• Training (employee learning directed towards defined role-based activities and employee competence in their completion - most often skill or knowledge based)
• Development (the process to maximise the capabilities of the organisation in line with its evolving strategy through maximising the long-term learning of employees. This learning may be skill, knowledge, philosophical or behavioural based)

Module Overview (15 Credit Module)

The module addresses the current rapid changes in banking technology and the disruptive impact of new ‘fintech’ start-ups, challenging conventional bank business models. The focus is on the interaction of technology (cryptography, mobile banking, AI and machine learning), regulation (e.g. the EU PSD2) and changing business models. A broad issue will be the extent to which new technology is leading to disintermediation of traditional banking functions and to what extent resulting in a co-operation between banks and new non-bank technology-based companies. The lectures will focus on two business areas where the new technologies are having the biggest impact: (i) domestic and international payments; (ii) small business and unsecured personal credit, including trade and supply chain finance. They will also provide a discussion of the public policy and strategic issues in financial technology – in particular the interaction of regulation and innovation in banking technology; and the prospective change in co-operative and shared institutions such as the international card companies Visa and Mastercard and the international payments network Swift. The first three lectures will provide an overview of new payments providers, looking at international payments, and at the rapidly evolving landscape of domestic C2B and B2B payments. A supporting case study will examine the role of the major card companies Visa and Mastercard. The next two lectures will look at technology based ‘non-bank lending’ especially the role of P2P or market place lenders and also invoice and other forms of supply chain finance & the extent to which credit may be supplied entirely outside of the banking system. The final lectures will look at the changing financial technologies from a public policy and strategic perspective, critically examining the role of regulation in both support of and as a barrier to innovation, and the impact of technology on the banking landscape in the years ahead.

Module Aims & Objectives

On completing this module students will:

• Be aware of the leading technology-based companies in financial technology and how they are challenging banks in payments services and lending around the world
• Understand examine how technology, regulation and business context together shape the opportunities for technological innovation in banking
• Have critically examined the strategic and public policy issues raised by the new technologies, including the application of competition law and policy and the extent to which technology leads to new forms of industry competition and co-operation

Key Text

There is no up to date textbook. Students will be guided to relevant research and industry analysis.

Means of Assessment

This module is assessed by means of a single mini project of 3,500 words in length

Unit One: Payment systems and new payment technologies
Unit Two: Credit technologies and alternative lending
Unit Three: The public policy and strategic implications of the new technologies

Module Overview (15 Credit Module)

This module will look at the three core elements of capital markets and treasury management as follows: liquidity management and capital markets, financial management and risk management and treasury operations. Students will look at the key theories and elements underpinning each section. Students will initially examine the context for international cash and liquidity management such as financial and banking systems and the time value of money. They will then move on to discussing core concepts such as equity and debt and the methods available for raising finance in the capital markets. Throughout the next sections students will evaluate further methods of raising capital; analyse bond markets and credit ratings and look at the fundamentals of equity valuation. It will develop an understanding of risk management and the framework within which financial risks can be managed before closing with an in-depth analysis of the treasury function, its organisation, policies, objectives and controls.

Aims & Objectives

On completing this module students will be able to:

• Explain the context for cash and liquidity management
• Explain the mechanics of money markets and the foreign exchange market
• Explain the mechanics of raising finance in the debt and equity markets
• Perform calculations relating to bond pricing, yield and duration
• Analyse the uses, merits and performance of credit ratings
• Discuss methods of equity valuation and issues surrounding dividend policy
• Perform calculations relating to portfolio diversification and systematic risk
• Explain the characteristics of generic risk management tools
• Perform calculations relating to interest rate and exchange rate risk management
• Explain the main features and objectives of treasury operations

Key Text:

Finance and Financial Markets (4th Edition) Pilbeam, K - Palgrave Macmillan

Means of Assessment:

This module is assessed by means of a single mini project of 3,500 words in length.

Unit One covers:

This unit examines the context for liquidity management such as financial and banking systems and the time value of money. It introduces core tools used in treasury such as money markets and the foreign exchange market. The unit also examines core concepts of equity and debt and introduces methods of raising finance in the capital markets. Hence it also provides a foundation for material covered in Units 2 and 3.

Unit Two covers:

This unit provides detailed coverage of important aspects of the capital markets (debt/equity or bond/stock markets) and builds on the foundations of Unit 1. In the context of the bond markets, we pursue current topical areas (e.g. credit ratings, the European sovereign debt crisis) and much of this material is not available in textbooks. These topics reflect research expertise at Bangor Business School. In the context of the equity markets, we initially focus on equity valuation and the role of dividend policy. Finally, we address principles of risk, return, portfolio diversification and asset pricing models.

Unit Three covers:

This unit examines the concepts and tools of risk management and explores the motivations for hedging by banks. We proceed to discuss generic risk management techniques and the functions of derivative instruments. Commercial banks are faced with a long list of potential sources of risk and therefore many risks that need to be managed. In this unit, the focus is on the management of three types of risk, namely interest rate risk, foreign exchange risk and credit risk. In the final subsection, we aim to draw together several key issues within the syllabus which have relevance to a bank’s treasury functions and treasury management.

Module Overview (15 Credit Module)

Corporate Finance is a key management activity with a broad range of activities to address. The understanding of the financial managers' key decisions forms the heart of this module, with emphasis on the selection of profitable investments, utilising financial instruments, choosing the best mix of funds, risk and dividend policy. The importance of cash flow and the theories underpinning dividend decisions is also emphasised. Students will gain an understanding of the different types of investment and the return expected by investors. The module also examines the concept of risk, moving to a review of the nature of capital markets and the nature of the instruments issued and traded within them.

Module Aims & Objectives:
On completing this module, students will be able to:

• Understand the theories underpinning capital budgeting and be able to apply and discuss these
• Understand the concepts of the costs of capital and funds and be able to apply these to real world scenarios
• Understand the theories and concepts underpinning dividend decisions; analyse and apply these in the real world
• Understand the concepts of discount rates and how these relate to financial instruments and risk
• Understand the issues relating to long-term finance; critically evaluating the relevant models and applying the most relevant when reviewing financial decisions
• Have a thorough understanding of the role of the financial manager and the role played by corporate finance in the banking and financial industries

Key Text:
Corporate Finance (4th Edition) Berk, J and DeMarzo, P - Pearson

Means of Assessment:

This module is assessed by means of an individual assignment (40%) and examination (60%)

The course is divided into three Units which broadly break down as follows:

Unit 1
Unit 1 deals with underlying technical aspects of valuation  time value of money, discounting, etc. and gives us the necessary technical underpinning to move on to making decisions in Unit 2.

Unit 2
The second unit, Unit 2, takes theses technical aspects and starts to apply them to the valuation of projects. It starts with simple problems and moves on to more complicated investment decisions in relation to investment in plant and equipment. The key idea is whether a particular investment promises greater cash flows than the cost of the investment. This, of course, applies to many investment decisions  whether to invest in a machine or to buy a company or to launch an advertising campaign or to initiate a research and development programme. All these opportunities seem very different, but they all have the same goal of generating more cash than the cost of getting the cash!

Unit 3
The third unit, Unit 3, deals with the financing side of the company. Unit 1 and Unit 2 help us to decide whether it makes sense to acquire a particular asset. Unit 3 looks at the financing of that decision in terms of the capital markets, sources of finance and the issues of capital structure (how much you should borrow) and dividend policy.

Each unit of these units is further broken down into individual topics, ten in total.

One point that might strike you as you work your way through the module is that is that some of the material appears a little removed from the financial services industry, because, for instance, there is little investment in plant and equipment in this industry (except for IT equipment, of course). However, do bear in mind that those of you who are lenders will have customers who are (or should be applying these techniques) while others who work in investment banks in the mergers area will have grappled with the problem of valuing possible acquisitions.

Module Overview (15 Credit Module)

There are many patterns and actions and business approaches which define an organization's strategy, and you will be afforded opportunities to identify those which are pertinent for financial services firms. The financial services sector is one of the most regulated industry sectors and the implications of this along with the characteristics of the service products will be noted throughout the module. The theory and principles underpinning business operations and activities will be explored and insights applied to financial services firms. In completing the units for the module, reference is made to services management and operations; the unique characteristics of services which may be a challenge or provide an opportunity in devising and implementing a unique and successful corporate strategy. As aspiring business leaders and future decision makers, it is essential that you can ascertain the essence of business operations and the factors which contribute to a firm's competitive advantage.

Module Aims & Objectives:

On completing this Corporate Strategy module, you will be expected to be able to:

• Critically appraise the theoretical contributions in the area of strategic management
• Analyse the role and influence of the environment (internal and external) on a firm’s strategic decisions
• Explain the essence of competitive advantage and the factors which contribute to a firm gaining and sustaining a competitive advantage
• Adjudicate on the extent to which stakeholders influence the design and implementation of a firm’s strategy and
• Outline and explain what constitutes effective managerial leadership in achieving superior strategy execution and operating excellence

Key Text:
Exploring Strategy – Text & Cases (9th Edition) Johnson, G. Whittingtong, R. Scholes, K. & Angwin, D.

Means of Assessment:
This module is assessed by means of an individual assignment (40%) and examination (60%)

Unit 1 - Strategy, Concepts & the Strategic Position
Unit 2 - Strategic Choices
Unit 3 - Strategy in Action

Module Overview (15 Credit Module)

This module explores the key areas surrounding Credit and Lending, starting with the relationship between the banker & customer, through business lending procedures and ends with credit risk practices for each type of bank (retail, business and commercial). Students studying the module will develop a detailed and critical knowledge and understanding of credit and lending in the banking industry and will also develop a range of banking skills, techniques and practices at a professional level.

Module Aims & Objectives:

On completing this module, students will be able to:

• Demonstrate an extensive, detailed and critical knowledge of the legal aspects of the banker – customer relationship
• Describe in detail the principles of lending and the main lending and credit products
• Demonstrate detailed knowledge and understanding of the procedures for taking a range of securities for advances
• Exercise a range of business banking lending skills, techniques and practices and interpret and assess business accounts, including identifying, formulating and solving business problems and assessing and managing risk in a business banking context
• Demonstrate detailed knowledge and understanding of diligence and bankruptcy
• Demonstrate an extensive, detailed and critical understanding of how the credit risk functions, and how it plays its part in managing risk for a banking business

Means of Assessment:

This module is assessed by means of an individual assignment (40%) and examination (60%)

Unit 1 covers: The aim of Unit 1 is to introduce Credit and Lending and to explain the main themes that run throughout the module. The structure of the module is outlined, and the main text introduced. An overview is provided of Credit Risk Management and its role in the modern financial services industry. The imperative is on a structured and practical approach to maximise profitability within the Lending portfolio. These issues are explored as important themes in modern Credit Risk Management. A fundamental approach of this module is that Credit and Lending is a central element of practical bank financial management. Indeed, a high percentage of most Commercial Banks assets are employed in the Lending portfolio. The module recommended textbook adopts the same practical approach. This approach enables Credit and Lending to be explored within its most appropriate bank strategic and managerial function, bank financial management.

Unit 2 covers: The aim of Unit 2 Part 1 is to introduce Retail Credit- Small Business Lending and to explain several tools and techniques to assist the Lender in the evaluation of Credit risk. We will review the economic setting and importance of the SME sector. The imperative is again on a structured and practical approach to maximize profitability within the Lending portfolio.

The aim of Unit 2 Part 2 is to introduce Large Company analysis and valuation; together with Stock Market performance indicators and the use of financial models to predict corporate distress. The imperative is again on a structured and practical approach to maximize profitability within the Lending portfolio. These issues are explored as important themes in modern Credit risk management. A fundamental approach of this module is that Credit and Lending is a central element of practical bank financial management.

Unit 3 covers: The aim of Unit 3 is to examine in Part 1 of this unit the specialised lending topic of structured finance and project finance. In part 2, to examine the specialised lending topic of Object Finance and to understand how financial engineering techniques can reduce the cost of capital in these complex financing projects. The imperative is again on a structured and practical approach to maximise profitability within the Lending portfolio. These issues are explored as important themes in modern Credit risk management.

Key Textbook:

Checkley, K., & Dickinson, K. (2018). Credit Masterclass (1st ed., Vol. 1). Credit Skills Academy. Ethics, Regulation & Compliance Information to follow – new module merge

Module Overview (15 Credit Module)

The module considers emergent and developing fields of green finance and methods of enhancing sustainable practice in finance. The module reflects the growing importance of adapting methods and the practice of finance and banking to the changing realities of climate change and growing concerns as to the sustainability of finance.

On successful completion of the module, the Certificate in Green & Sustainable Finance offered by the Chartered Banker Institute can be claimed by the participant.

Aims & Objectives:

The module will introduce and evaluate financial implications of the new green and sustainable economy required for the 21st century. The module will examine the rationale, ethical dimensions, regulatory aspects and practical industry implication of sustainable and green finance. In this module we will explore what are the responsibilities and expectations of firms, regulators and finance professionals in tackling these new realities and a range of methods and approaches adopted to achieve these goals.

Key Text

Green and Sustainable Finance: Principles and Practice: 6, Simon Thompson

Means of Assessment

This module is assessed by means of a single mini project of 3500 words in length.

Module Overview (30 Credit Module)

The module considers financial crime and intelligence about capital markets, and private and correspondent banking. For each of the three contexts the student is introduced to regulatory concepts and approaches, before learning about different methods used to detect crime, mitigate and prevent such behaviours. Products, risk management and the wider institutional structures relevant to each situation are discussed. The specific banking sub-sectors may be adjusted from year-to-year depending on relevant developments in the industry.

Module Aims & Objectives

The module provides a detailed examination of current themes in financial crime which arise in correspondent banking, private banking and capital markets. For all settings the student is introduced to product knowledge and organisational context to enable critical evaluation of detection and mitigation of financial crime and money laundering. The module includes case studies of recent supervisory actions and examples of financial settlements extracted from non-compliant organisations.

Key Text

The three course handbooks used on this module are accessed through the ManchesterCF platform. ManchesterCF is a specialist training provider in financial crime, and continually update their materials in response to changes in regulation. The materials will explore the theoretical concepts and practical aspects of correspondent banking, private banking and capital markets to introduce a wide range of real-world cases.

Unit 1 - FIU Connect Capital Markets
Unit 2 - FIU Connect Correspondent Banking
Unit 3 - FIU Connect Private Banking

Means of Assessment

The mini-project assessment for Financial Crime in the Banking Industry comprises two parts:-

• Research that requires the student to identify the ‘current state-of-play’ for Financial Crime in the Banking Industry in their product & geographic areas of operation for each of the three topics in the module, & assess how these compare to developments in the industry globally (5500 words and carries 75% module weighting).
• A critical evaluation of ‘best practice for risk mitigation’ in for Financial Crime in the Banking Industry as indicated in the study materials & supplementary readings, across the three topics in the module (1500 words and carries 25% module weighting).

Module Overview (30 Credit Module)

The module considers the legislative and regulatory environment that defines and seeks to control financial crime associated with inappropriate exploitation of the physical environment, and money-laundering based on trade. The resulting economic sanctions that are often introduced to encourage compliance are assessed. The motivations for initial development and persistence of each crime are outlined and how they may be detected. Appropriate policy responses are introduced to counter and combat such crimes.

Module Aims & Objectives

The module considers the broader institutional context of societies around the world that are increasingly emphasising their concern about damage to the physical environment - both for current and future generations of citizens. Environmental crime ranges from pollution in-situ to the trade of environmental resources between nations. Sovereign governments often introduce economic sanctions on other nations or individual organisations (including banks) to restrict such trade. Providers of financial services require an appreciation of these forms of crimes in order to effectively engage with the sustainability agenda.

Key Text

The three course handbooks used on this module are accessed through the ManchesterCF platform. ManchesterCF is a specialist training provider in financial crime, and continually update their materials in response to changes in regulation. The materials will explore the theoretical concepts and practical aspects of trade-based, environmental crime and economic sanctions to introduce a wide range of real-world cases.

Unit 1 - FIU Connect Economic Sanctions
Unit 2 - FIU Connect Trade-Based Money Laundering
Unit 3 - FIU Environmental Crime

Means of Assessment

The mini-project assessment for Institutional Perspectives of Global Financial Crime comprises two parts:-

• Research that requires the student to identify the ‘current state-of-play’ for the Institutional Perspectives of Global Financial Crime in their product & geographic areas of operation for each of the three topics in the module, & assess how these compare to developments in the industry globally. (5500 words and carries 75% module weighting).
• A critical evaluation of ‘best practice for risk mitigation’ for Institutional Perspectives of Global Financial Crime as indicated in the study materials & supplementary readings, across the three topics in the module (1500 words and carries 25% module weighting).

Module Overview (30 Credit Module)

The module introduces the concept of money laundering, and common typologies of these behaviours. This includes consideration of legal obligations, regulation risk assessment and the levels of diligence and reporting which are required to counter money laundering. In this introductory module learners are introduced to aspects of critical thinking to inform the tasks of due diligence and problem solving for financial intelligence purposes. They develop the ability to research academic and professional literature, present information in appropriate manners both written and oral for different audiences (regulatory, corporate as well as academic).

The module provides an introduction to the wider programme, and provides an education base for considering anti-money laundering. This includes an introduction to issues of money laundering and regulation, and the need for critical thinking and reflection in financial investigations. The module also reviews the fundamentals and standards necessary to produce information in a concise manner both written and oral to produce informative reports on financial intelligence for different stakeholders with an interest in scrutinising ‘compliance’.

Key Text 

The three course handbooks used on this module are accessed through the ManchesterCF platform. ManchesterCF is a specialist training provider in financial crime, and continually update their materials in response to changes in regulation. The materials will explore the theoretical concepts and practical aspects of fundamentals of anti-money laundering, critical thinking and information presentation to introduce a wide range of real-world cases.

Unit 1 - FIU Connect Critical Thinking
Unit 2 - FIU Connect Fundamental AML
Unit 3 - FIU Connect Report Writing

FIU Connect Financial Investigations unit will also be provided as an overarching reader across the programme, and will be introduced during the  Introduction to Financial Crime & Compliance module.

Means of Assessment

The module is assessed by 2 components:

1. A report addressing the topic set about ‘Fundamentals of Anti-Money Laundering’, including reflection on the process of research and report preparation (4000 words)
2. Preparation and recording of a presentation related to the Fundamentals of AML component of the report (10 minutes duration).

Module Overview (15 Credit Module)

This module focuses on the use of scarce resources to guide decision making in uncertain environments. Firms that better manage their scarce resources (inlcuding capital, people, and data) will be better positioned to thrive in an increasingly competitive - and global - marketplace. To be successful firms need to leverage every advantage they can and be guided by evidence.

Aims & Objectives

The broad aim is to give students a set of practical skills and an understanding of the concepts that underpin good managerial practice.

The first part of the module focuses on economics of ‘managing operations’. This includes aspects related to: the economics of the consumer; the economics of the firm (including economies of scale and scope); the economics of competition; and transaction cost economics. Attention is then turned to economics of ‘managing people’, with relevant topics covered including incentives and Nudge Economics; information asymmetry, moral hazard and adverse selection; the principal-agent problem (agency problems); human capital and signalling and Tournament Theory.

The third and fourth units go on to explore topics relating to ‘managing data’ and ‘managing knowledge’, respectively. Managing data involves a framework of related concepts – e.g., what is meant by data, and how firms use data to better manage operations and people – and analytical tools relevant to applied research, including study design and sampling. Managing knowledge expands to consider themes including: what is knowledge?; thinking in bets – using probability to guide decision making; validity, reliability and generalisability; and thinking fast and slow – cognitive (and other forms) of bias.

Learning Outcomes

• Comprehend, evaluate, appreciate and assimilate the scope and constraints imposed by law and regulation.
• Critically analyse data from primary and secondary sources and understand their use in guiding decision making.
• Critically analyse the importance of managerial economics in a contemporary organisation.
• Critically comprehend the implications of different strategic decisions for the organisation and the evidence used to guide them.
• Critically evaluate the subject specific roles, features and relationships within and between firms.
• Demonstrate the ability to make informed management and leadership judgements and decisions based on theoretical and empirical evidence.
• Understand, identify and judge the efficacy of different managerial policies and theories

Module Overview (15 Credit Module)

Entrepreneurs and small firms are the lifeblood of an economy, and make an increasing contribution to innovation, wealth creation and employment. This module will provide a detailed insight into the concepts of entrepreneurship and the role of small firms within the economy. It will encourage participants to develop a critical awareness of the nature and role of the entrepreneur in the economy and society. Students will learn the processes involved in new venture creation and creating business plans. They will develop an appreciation of the different types of firm, from business start-ups, through family businesses to franchises and the diverse skill sets these require.

Aims & Objectives

On completing this module students will:

• Understand the terms “entrepreneur” and “owner/manager” and the differences/ similarities between them
• Understand the entrepreneurial role in relation to the formation and development of a small business
• Understand the development and complexities of other forms of businesses such as franchises and family businesses
• Understand the purpose of a business plan
• Be able to draw up a business plan of sufficient depth and standard and to tailor the plan to differing reader interest
• Be able to extract the relevant information from a business plan created by others

Key Text:

New Venture Creation: Entrepreneurship for the 21st Century (10th Edition) S Spinelli & R Adams - McGraw Hill

Means of Assessment:

This module is assessed by means of a single mini project of 3,500 words in length.