The BTRM Certificate of Bank Treasury Risk Management (BTRM)

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The Certificate of Bank Treasury Risk Management (BTRM)

Starts 4th October 2023

The Certificate of Bank Treasury Risk Management (BTRM) is a professional qualification and certification in bank Treasury, Capital Markets and balance sheet risk management. The programme is a 6-month modular qualification, with cohorts starting every April and October.

Obtaining the BTRM provides students not only with a recognised professional qualification demonstrating excellence in the Treasury space, it is also a sign of genuine commitment to excellence in risk management.


23 lecture weeks live in London or globally online.


10-12 learning hours per week. 2 – 3 hour lectures.


Module Assignments and 3 hour Examination

VOLUME DISCOUNT: If 2 or more people from your institution wish to take The BTRM course please contact us
REGIONAL OFFERS: Get in touch for offers in your geographic region

BTRM Syllabus

Pre-course 1.      Primer on bank business model, financial statements and regulation.
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
  12B. Cyber risk management in banks
  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 and ALM.

Module 3 On-line test (multiple choice)



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.
  21B. Capital allocation, cost of capital and return on capital
  22.      Capital management II: capital strategy, capital planning and ICAAP process. Regulatory Reporting.
  22B.    Reverse Stress Testing
  23. ALM Integration across the balance sheet.
  23B. Operational Risk and ALM. Principles of Policy Documentation
  23C. Bank Treasury and The 3rd Line of Defence
  CONCLUSIONS: Bank ALM, ERM, and “Risk Culture”

Module 5 On-line test (multiple choice)

  Exam Preparation Review Session
  Cohort 17 EXAM