How can I enrol?
To enrol submit the MCT online enrolment form by August 15 2012
Entry requirements
Entry onto the MCT Advanced Diploma programme normally requires completion of the AMCT Diploma in Treasury. However, the ACT allows direct enrolment for holders of selected qualifications, or for those who have experience in a senior treasury or finance position, including a significant track record in corporate finance and/or risk management decision making.
Entry via the bursary scheme
The ACT offers bursaries to assist students from developing countries who cannot gain sponsorship for their studies, to study for an ACT qualification.
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Course content
An overview of the current course content is provided below. For a detailed outline download the full syllabus
MCT is a masters level qualification comprising three study units. Study units 1 to 3 comprise independent study and group tutorials, which can be taken either online or face-to-face. by a project and two end of course examinations.
The course runs once a year, beginning in September, and can be completed within 16 months, but should you require a more flexible study programme this can be accommodated.
Study unit 1 – Treasury strategy
This unit begins with a review of corporate strategy and leads on to establish the context for treasury as part of that strategy. The investor view for risk and return is then taken, looking at the implications for financial management. The construction of financial strategy is then investigated with its implications for financial risk and how this might be undertaken. The unit concludes by seeing how all these factors combine to influence treasury structure. You will expand on knowledge and skills from your AMCT studies (or acquired through equivalent experience / qualifications) and take these to a strategic understanding.
Study unit 2 – Treasury applications
You will take the knowledge and skills and apply them to the problems that arise in a modern treasury in today’s firm, understanding and then solving multi-faceted problems. The exercises will require you to evaluate issues while understanding the relationships between treasury, management, finance, the business operations and the external world.
Study unit 3 - Strategic treasury solutions
You will develop your analytical, practical skills and professional judgement, enabling you to engage with any real-world finance or treasury issue with confidence. Study unit 3 consists of two case studies. These cases studies are based on real-life organisations, providing an opportunity to see theory in practice.
Study Unit 4 - Revision and examination
Having completed the three study units, you will have developed core professional knowledge and skills and applied the theories and tools to real life complex issues. In this unit you will revise the knowledge and skills gained during the course, work through past paper exam questions, and you will take part in a revision tutorial. The two examinations are designed to test understanding and strategic application of knowledge.
Study Unit 5 - Project
In this final unit you will undertake an individual project on a subject of your choice. This provides an opportunity to apply the knowledge and skills developed to a subject of particular interest to you, and to deal with a current issue that involves in-depth research and planning. The project topic will be agreed by your project supervisor who will continue to support you throughout this unit
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Course objectives
- Build an understanding of the strategic impact of treasury decisions and how they affect shareholder value
- Develop in-depth expertise to underpin professional judgement and improve decision making.
- Attain the only senior level professional qualification in treasury, risk and corporate finance, and which provides a detailed understanding of corporate financial management.
Who should take this qualification?
The MCT Advanced Diploma is a senior level qualification designed to support those who are working in or towards the highest career level in treasury, corporate finance and banking. It is technically comprehensive in its scope, practical in its application to real-life issues and relevant to those working in strategic areas of finance. In particular, it is relevant for:
- Senior level treasury or finance positions either in corporate or financial institutions
- Senior executives working in corporate planning, strategy and mergers and acquisitions
- Financial service providers who want to broaden their knowledge and better understand the needs of their corporate clients
- Corporate advisory roles
- Advisors in corporate finance and financial consultancy, specialising in strategic finance issues..
On achieving MCT you can become a full member of the ACT and join the largest community of qualified treasury, risk and finance professionals.
Learning outcomes
MCT will enhance your knowledge and understanding and enable you to:
- Demonstrate an understanding of the key financial concepts, techniques and theories in the core areas of treasury, risk management and corporate finance
- Use theory and research to provide practical solutions
- Deal confidently with wider financial issues including governance, financial reporting and the impact of external regulatory requirements
- Integrate acquired knowledge with past experience and apply it to new situations
- Understand the wider impact of treasury decisions and management upon an organisation.
MCT will develop your professional skills and enable you to:
- Analyse situations and issues from multiple perspectives
- Use appropriate strategies to select relevant information from a wide range of sources
- Apply the theories and tools to real-life complex issues and analyse the outcomes
- Formulate, select and justify solutions that demonstrate an understanding of the interrelationships between treasury, finance and commercial operations
- Implement solutions effectively and efficiently while appreciating the consequences of these decisions.
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How will I study?
MCT is a unique online study programme combining self study with the choice of online or face-to-face teaching. During the course you will need to carry out a range of activities; working through course materials, interacting with your tutor group and completing assignments. The recommended study time is 10-15 hours per week.
Online study materials that are delivered through the course website and include a range of resources designed to support your learning, including downloadable PDF versions of the course material, practical exercises, self tests and further reading materials. Each study group also has the support of a dedicated MCT-qualified tutor to answer questions, solve problems and offer advice through the online discussion forum. The formum enables regular interaction with both the course tutor and other candidates.
What’s included: Access to the e-learning website, online study materials and additional resources, discussion forum and a core text book.
You will need: Access to a computer with internet connection
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Teaching and revision
You have the option of studying the MCT Advanced Diploma either as a fully online programme, or through attending a series of face-to-face tutorials. The tutorials are designed to help you consolidate what you have learnt during each study unit. During tutorials, you will engage in a variety of tutor-led discussions providing the opportunity to debate key issues, work on problems as part of a team and share experiences and knowledge with other professionals. There will be an opportunity for you to suggest topics you would like to revisit and your tutor will help you prepare for your assignments.
Face-to-face tutorials
You will work both independently accessing the online study materials, and as part of a tutor group, attending tutorials held in a central London location. Each of the four tutorials is between one and three days long, scheduled throughout the length of the course.
Online tutorials
You will study entirely online with tutorials held via an online conferencing facility. Each tutorial runs for one week allowing you to access the tutorial at times that are convenient to you. Choosing this study option means you will receive support from both the course tutor and fellow candidates, in a way that gives maximum flexibility. This is particularly recommended for students based outside the UK.
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Assessment and examination
Candidates are assessed by two tutor marked assignments, contribution to study unit 3 online discussions, two end of course examinations and an individual project that involves independent research and planning.
Download past general exam paper
Download past case study exam paper
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Student case studies
Dominic Jaques, MCT, Finance Director, John Laing Integrated Services
After gaining my AMCT qualification I decided that I would continue on to Full Membership (MCT) to further develop my treasury skills. Corporate financial planning has always been a key component of the overall company strategy, with the treasury function as one of its most important drivers. The modern senior financier requires a detailed understanding of how treasury works and a very practical knowledge of how to apply the techniques. MCT is a qualification that addresses both of these needs and enables immediate application of the ideas to your business.
The key topics within MCT – corporate finance and risk management – are becoming ever more important within the corporate arena and are not necessarily covered in as much detail in other qualifications. A growing emphasis on compliance and accounting transparency can overlook the fact that a great deal of risk is centred within the treasury function. For example, the liquidity position or the terms and conditions under which loans are extended are the responsibility of the treasury department and can only truly be addressed by a treasury qualification. The MCT qualification has enabled me to feel more confident when conducting detailed negotiations concerning the company’s financing requirements. Now that I can predict the financial implications of my decisions, I have found they are much easier to make.
The MCT programme encouraged me to think differently and choose the best approach for a given situation. It is the tailoring of solutions to multiple objectives or priorities that often proves the hardest task, and the MCT uses case studies to good effect in teaching there is more than one way to solve complex problems.
Ganesh Melatur, MCT, Assistant Director Finance, Interpol
I initially qualified as a computer systems engineer, but saw clearly that a finance career provides a person with the most direct route to top management and board level positions. I was always interested in strategy and it is here that a corporate treasurer contributes most. I then qualified as an accountant but was always involved in treasury matters.
Mid-career it became clear to me that I needed to reinforce specific skills and close some knowledge gaps, particularly in areas such as risk management. I had acquired an MBA so was better able to identify these knowledge gaps. While the ACT certificate courses in Risk Management and Financial Modelling appealed to me technically, I wanted to go beyond theory to situation-specific applications, so went through the entire chain from AMCT to MCT in one unbroken, continuous manner. The thought of becoming an ACT member was a very important motivating factor for me.
In recent years, the financial environment has evolved considerably – including added complexity in terms of technology and regulation – so the ACT qualifications got me up to speed on the latest technical knowledge while simultaneously viewing its applications via frameworks and models. Gaining the AMCT qualification leads to more responsible roles within treasury. I would highly recommend MCT for those seeking the highest level jobs worldwide in treasury and strategic corporate finance. MCT combines technically advanced topics with their application to real-life issues.
Treasury is a central part of what every finance professional does, but with ACT’s qualifications you gain professional expertise. Adding them after one’s name is evidence that one is considerably interested in treasury enough to invest significant time and money. Being a member of an organisation such as the ACT is valued highly by society, and having the qualifications available at all levels is an invaluable tool for professionals wishing to progress their careers.
Treasury is emerging as a distinct career choice; specialist treasury professionals are therefore in more demand now than ever, and this trend is only expected to solidify.
Andy Naish, MCT, Associate Director, Barclays Capital
On leaving university, I joined the Woolwich Building Society as a management trainee. A year after joining, I applied for an internally advertised position in the Group Treasury. I had always been interested in finance in general and saw the opportunity as too good to miss. I worked my way up through the treasury department, taking the AMCT examinations to show my commitment to the profession. Although, at first sight, MCT is not the obvious qualification for someone within the banking industry, I felt that it was a beneficial way to enhance my career progression and develop my skills set.
In taking MCT I wanted a highly focused, professional qualification in risk management that would help differentiate me from my colleagues. MCT met this need. Within the world of banking, there is an increasing focus on risk management and the optimum allocation of capital as a driver to increasing shareholder value. MCT has helped me understand the methodologies that sit behind these measures, which are key to effective risk management. The analytical techniques we were taught increased my confidence and have given me a greater depth of knowledge to enable me to deal with the daily challenges I face in my role.
Upon finishing MCT I possessed a high quality, valuable qualification, which is specifically aimed at risk managers and treasurers. The MCT qualification has not only given me increased confidence and understanding but I believe it is invaluable in my future career progression – I am very pleased to be able to use the designatory letters MCT after my name.
Mary Finn, MCT, Treasurer, Burton Foods Ltd
MCT is a challenging qualification, which I believe provides numerous benefits from both a personal and professional point of view. Personally, the qualification has helped me to improve my career prospects and enabled me to take on different, and increasingly demanding, roles. Professionally, the MCT study programme has increased my knowledge-base which allows me to tackle a broader range of challenges.
Although the study programme was demanding I feel the rewards far outweighed the effort and commitment required. The knowledge I gained in the core areas of strategic treasury management, risk management and corporate finance has enabled me to look at a broader range of business issues than before, and have the confidence to come up with a range of courses of action for consideration. The study programme has also facilitated first class networking opportunities with peers.
Being an accountant I had a good understanding of finance, but needed a greater appreciation of strategic risk with a move into the treasury function. The MCT qualification deepened and widened my understanding in strategic finance and gave me a greater awareness of other business implications. It has enabled me to take a holistic view of the commercial as well as financial challenges which face the business.
The MCT qualification is an extremely valued qualification and provides an important step along the career path of any aspiring treasurer. Increasingly, treasury is also a way into senior financial positions, and having the letters MCT after your name demonstrates sophisticated knowledge of financial risk management and corporate finance.
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Join the ACT
MCT is the full membership qualification for the ACT and leads to the designatory letters MCT.
On achieving MCT you can become a member of the ACT and join the largest community of qualified treasury, risk and finance professionals.
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