Executive Certificate in Financial Markets & Institutions

This program is a practical introduction to the workings of today’s financial markets and institutions. It reinforces the key concepts of financial markets. The program provides an in-depth discussion of key topics that are critical to financial management: (1) the overview, structure and roles of the financial systems and  key variables in financial markets, (2) the role of financial institutions, (3) interest rate determination and interest rate movements in the financial markets, (4) reasons in variation in yields among securities, (5) the structure and operations of commercial banking and description of non-banking institutions, (5) description of major debt and equity securities market, and (6) the foreign exchange and derivative securities markets, and (7) the use of risk management in financial institutions.
This program includes 60 hours of class activities in full and given in 20 sessions each of 3 hours.

This program prepare students for their future careers in Financial Markets & Institutions by providing them with the following principles:

• A unifying analytical framework
• Conflict of interest
• Transaction cost
• Supply and demand
• Asset market equilibrium
• Efficient markets
• Measurement and management of risk.

The CFMI program develops fast-track individuals motivated to lead and grow their career in the financial services industry or successful interaction with inancial institutions, whatever their jobs.

Module One: Why Study Financial Markets and Institutions?

• Overview of the Financial System
• Why study financial markets?
• Why study financial institutions?
• Applied managerial perspective
• Functions of financial markets
• Structure of financial markets
• Internationalization of financial markets
• Functions of financial intermediaries

Module Two: Overview of the Financial System

• Risk and Term Structure of Interest Rates
• Measuring interest rates
• The distinction between real and nominal interest rates
• The distinction between interest rates and returns
• Maturity and the volatility of bond returns: interest rate risk
• Reinvestment risk
• Determinant of asset demand
• Supply and demand in the bond market
• Change in equilibrium interest rates
• Term and Risk structure of interest rates

Module Three:   Money Markets

• Money Market Securities
• Valuation of Money Market Securities
• Institutional Use of Money Markets
• Risk of Money Market Securities
• Interaction among Money Market Yields
• Globalization of Money Markets

• Module Four:   The Bond Market
• Purpose of the capital market
• Capital market participants
• Capital market trading
• Types of bonds
• Bond yield calculations
• Finding the value of coupon bonds

Module Five:   The Stock Market

• Investing in stocks
• Common versus Preferred stocks
• Computing price of Common Stock
• The one-period valuation model
• How the market sets security prices
• Stock market indexes

Module Six:   The Foreign Exchange Market

• Background on Foreign Exchange Markets
• Factors Affecting Exchange Rates
• Movements in Exchange Rates
• Forecasting Exchange Rate Volatility
• Speculation in Foreign Exchange Markets  
• Foreign Currency Derivatives
• International and Locational Arbitrage
• Covered Interest Arbitrage

Module Seven:   Introduction to Banking and Management of Financial Institutions

• Historical Development of the Banking System
• Structure of Commercial Banking Industry
• The Bank Balance Sheet
• Basics of Banking
• General Principles of Bank Management
• The Bank's Financial Objective
• Measuring Bank Performance

Module Eight:   Non-banking Financial Institutions:

• Insurance Companies and Fundamental of Insurance
• Types of Finance Companies
• Background on Mutual Funds
• Investment banks
• Security Brokers and Dealers

Module Nine:   Risk Management in Financial Institutions

• Introduction to Risk Management
• Credit Risk Management
• Credit Risk Management Tools
• Major Sources of Interest Rate risk
• Interest Rate mismatching (Interest Rate Gaps)
• Gap Analysis (mechanics, assumptions, reporting)
• Duration (single items, portfolios, balance sheet)

Module Ten:   Hedging with Financial Derivatives

• Financial Derivatives (futures, FRAs, interest rate swaps, options)
• Hedging Strategies
• Forward and Futures markets and hedging strategies
• The Swap Market

• Doctorate Degree in Strategic Management – Stanford University
• Certified Senior Consultant - EAMC
• Certified Fellow FCIPM – UK
• Visiting Professor, Baath University – Syria
• Visiting Professor, Arab European University – Syria
• Visiting Professor, National Institute of Administration (INA) – Syria
• Certified Management Expert – SEBC - Syria
• Certified Sales & Marketing Executive International – USA
• American Management Association Member
• MBA Association Consultant & Member

All participants should take final test at the end of the program and scores 60% as a minimum to earn the Certification. Participants who fail to score 60% on the test will be granted a second chance to sit for a second test after one week from first one.