World Business StrategiesServing the Global Financial Community since 2000

Enhanced BTRM syllabus

  • The BTRM is comprised of 2 stages
  • 2 Pre-course Primers
  • 40 lectures over 5 modules
  • End of Module Online Tests
  • Final exam taken globally online using our live invigilation platform.
  • The Diploma is an optional stage of the BTRM following award of the Certificate.

Stage 1

Primers 1A.      Primer on bank business model: maturity transformation, financial statements and regulation
1B.      Primer on bank business model: loans, deposits, cash flows and the balance sheet
Module 1
2.      The Risk Management Framework (RMF) and Risk Appetite Statement (RAS). Banking products, FX hedging and net interest margin (NIM)
2B.    Sustainable Banking and Climate Change Risk Management
3.      Asset-Liability Management: Strategic ALM and balance sheet management. ALM Optimisation Principles
4.      Basel III and “Basel IV” capital and liquidity rules
4B.    Evolution of the bank stress testing process and aspects of future stress testing policy.
5.      ALM trading and hedging principles I: Money markets. ALM Simulation Game: introduction and discussion.
6.      ALM trading and hedging II: Interest Rate Risk in the Banking Book (IRRBB)
6B.    A Primer on Value-at-Risk measurement methodology. Credit spread risk in the banking book (CSRBB)
6C.    FX Cross-Currency Basis
Module 1 On-line test (multiple choice)
Module 2
7.      Treasury Target Operating Model and reporting line. Evolution of the bank Treasury function, from the money markets desk to digital Treasury
7B.    The bank Treasury function and where it fits in banks and banking
8.      Asset-Liability Management III: The ALCO ToR / charter; ALCO sub-committee strucure.
8B.    Fundamental Review of the Trading Book (FRTB) Requirements.
9.      ALM and credit risk management.  IFRS9 and loan provision policy.
Module 2 On-line test (multiple choice)
Module 3
10A. Primer on Hedge Accounting and Macro Hedge Accounting.
10.  Capital markets for bank issuers (AT1, T2, Secured, Unsecured).
11.  Securitisation: mechanics for balance sheet management. Practical issues in structuring a securitisation transaction.
12A.  Regulatory Reporting Risk
12.  Recovery Planning (RP): Best-Practice Principles.
12C.  Strategic Risk and ICAAP / Balance Sheet Risk
13.  The credit rating agency process. Investor relations.
13B.  Model risk management
Module 3 On-line test (multiple choice)

Stage 2

Module 4
14.      Liquidity risk management Introduction. Post-crash swap discounting and pricing principles. Post-LIBOR and use of RFRs in ALM practice.
15.      Liquidity risk management II: Risk metrics and limits. The principles of Derivatives XVAs (CVA, FVA, MVA).
16.      Liquidity risk management III: Liabilities strategy. HQLA portfolio management and optimisation.
16B.      Approach to modelling non-maturing deposits (NMDs) for IRRBB management and liquidity risk.
17.      Internal funds transfer pricing (“FTP”) and funding policies.
18.      Constructing the bank internal funding curve. Introduction to yield curve interpolation.
18B.    Pension risk management in banks
19.      Liquidity reporting, stress testing and ILAAP. Intra-day liquidity risk. Asset encumbrance policy.
20.   Collateral management: Bilateral Margin Rules and Central Clearing. Impact of CCPs on ALM
Module 4 On-line test (multiple choice)
Module 5
21.      Capital management I: capital structure. The SREP on-site process.
22.      Capital management II: capital strategy, capital planning and ICAAP process. Regulatory Reporting.
22B.    Reverse Stress Testing
22C. ALM Integration across the balance sheet.
23A.  Bank Treasury and The 3rd Line of Defence
23B.   Operational Risk and ALM.
23.   Principles of Policy Documentation. Principles of Business Writing for ALM professionals.
CONCLUSIONS:  Bank ALM, ERM, and “Risk Culture”
Module 5 On-line test (multiple choice)
 Exam Preparation Review Session
Cohort 17 EXAM: Wednesday 10th April 2024

Following three weeks allocated for revision, students will sit a formal 3-hour closed book written examination. The exam is held on the same day worldwide, in our London exam centre for UK-based students. All non-UK based students sit the exam at their own desktop, using the BTRM online examination and digital invigilator system. The exam is essay-based, and not a multiple-choice test.

The pass mark is 60%, with those achieving 80% being granted a pass with Distinction. The the highest-performing student in the Cohort is awarded the Wiley Prize.

The Diploma is an optional stage of the BTRM following award of the Certificate. It consists of an 8,000-word student dissertation, the successful submission of which confers the designation Dip. BTRM. Students first submit their dissertation proposal and once approved the project will involve 300 hours of self-directed learning.

Teaching hours: 84 (28 lectures x 3 hours)
Total learning hours: 300 (including 216 hours self-directed learning)
Equivalent to one full semester module at MSc level

  • Discount Structure
  • Early bird discount
    10% until 22nd March 2024

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