MCT Advanced Diploma

Course overview

The MCT Advanced Diploma develops the ability to find practical solutions to the most complex issues within treasury, risk and corporate finance. It builds specialist treasury knowledge and understanding of the strategic impact of treasury decisions and how they affect shareholder value. The only senior level professional qualification in treasury, risk and corporate finance, MCT provides a detailed strategic understanding of corporate financial management. It develops in-depth expertise to underpin professional judgement and improve decision making.

MCT is the full membership qualification for the ACT and leads to the designatory letters MCT.

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Course objectives

• Develop strategic treasury management skills and expertise to underpin professional judgement and improve decision making
• Use theory and research to illustrate the underlying mechanisms behind business, finance and treasury decisions
• Provide a practical qualification that can be applied to solve real-life complex issues in treasury, risk and corporate finance.

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 in either a corporate or financial institution
• Corporate planning, strategy and mergers and acquisitions at a senior level
• Senior bank positions, where there is a need to understand the corporate environment
• Corporate advisory roles
• Financial consultancy, specialising in strategic finance issues.

Entry requirements

Entry onto the MCT Advanced Diploma programme normally requires completion of the AMCT Diploma in Treasury. However, holders of other relevant treasury qualifications, such as the Irish Association of Corporate Treasurers Graduate Certificate in Corporate Treasury, can enrol directly onto MCT.

Candidates who hold the Sheffield Hallam University MA in Banking and Finance or the Sheffield Hallam University MA in Risk Management and whom the ACT deems to have experience in a senior treasury or finance position can enrol directly onto MCT. The ACT will determine whether the professional experience of the candidate is appropriate. Candidates should apply to the ACT in writing, with proof of their SHU qualification.

Senior finance professionals may also qualify to enrol directly onto MCT. Direct entry requires experience in a senior treasury or finance position, including a significant track record in corporate finance and/or risk management decision making.

• Download the MCT direct entry guidance sheet for more information. (PDF 28K)

It takes up to four weeks to review an application for direct entry and therefore full documentation should be submitted in hard copy format no later than four weeks before the enrolment deadline.

Learning outcomes

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.

MCT enables candidates to:

• Demonstrate an understanding of the key financial concepts, techniques and theories in the core areas of treasury, risk management and corporate finance
• Apply these theories and tools to real life complex issues and analyse the outcomes
• 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
• Analyse situations and issues from multiple perspectives and use appropriate strategies to select relevant information from a wide range of sources
• 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.

Course content

MCT is an MBA level course comprising five study units. The course can be completed within 12 months, but should you require a more flexible study programme, this can be accommodated.

Study units 1 to 3 comprise independent study and group tutorials, which can be taken either online or face-to-face. These are followed by a project unit and a revision unit. The course concludes with two exams, each of three hours.

Study Unit 1 – Treasury Fundamentals

The emphasis is on identifying, assimilating and directly applying core knowledge. You will revisit knowledge and skills learnt during your previous AMCT studies (or acquired through equivalent experience/qualifications), add to your knowledge base of core concepts and techniques and develop the skills to apply these to practical problems.

Study Unit 2 – Advanced Treasury Applications

You will research more advanced topics, working with complex case study applications and solving multifaceted problems. The exercises will be subjective, ensuring you evaluate issues while continuing to develop your understanding of the interrelationships between treasury, finance and other business functions.

Study Unit 3 - Strategic Treasury Solutions

You will develop your analytical, practical skills and professional judgement, enabling you to tackle any real-world finance or treasury issue with confidence. Study unit 3 consists of two case studies. These case studies are based on real-life organisations, providing an opportunity to see theory in practice.

Study Unit 4 - Project

Once you have completed the first three study units, 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 the tutor who will continue to support you throughout this unit.

Study Unit 5 - Revision

During the study units, you will develop core professional knowledge and skills and spend time applying the theories and tools to real life complex issues. During this final unit you will revise the knowledge and skills gained during the course, using practice exam style questions, and you will take part in a revision tutorial. The two final examinations are designed to test understanding and strategic application of knowledge.

Study tools

The MCT course offers a flexible approach to learning through an online study programme comprising:

• Learning resources – the searchable resource database includes technical content, practical exercises, self tests and further reading materials. Also included is a selection of core text books.
• Study guide – the step-by-step guide directs you through the course and the activities to be completed. It provides guidance on how to get the most from the different learning resources
• Tutor guided forum – each study group has the support of a tutor to answer questions, solve problems and offer advice through the online forum. This enables regular contact and discussion with both the course tutor and other students.

What’s included: Access to the e-learning website, learning resources, text books, study guide and forum

You will need: Access to a computer with internet connection

Tuition 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.

• Meet the tutors

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 the same level of support from both the course tutor and fellow students, but in a way that gives maximum flexibility, and is particularly recommended for students based outside the UK.

Assessment and examination

Students are assessed by two assignments marked by tutors during the programme, two three hour written examinations and an individual project that involves independent research and planning.

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.

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.