¾ Revision Podcasts
¾ IRD & FX Seminar Series
¾ Introduction to Counterparty Credit and CVA
¾ Bank Analysis, Valuation and Regulatory Capital
¾ Modern Yield Curve Construction
Podcasts
BG Consulting is pleased to announce that you can now use our website to access a series of short revision podcasts to help you go through the key features of the products you have just learnt about in the classroom. Click here to access the podcasts.
For more information regarding the training we offer please contact info@bgconsulting.com or call 0207 648 4000.
IRD & FX Seminar Series
The derivatives world has changed dramatically in the last two years, with significant developments in both theory and practice. Traders are grappling with new instruments and ideas, salespeople are expected to have a better technical understanding of the products they sell than ever before, and there has never been a keener focus on risk-management. BG Consulting has designed a series of 2 hour seminars designed to help banks provide their staff with the training that they need.
A major problem in training front-office (and key middle-office) staff is the requirement that they have to be off the desk for an extended period, which can be difficult and at times impossible. The intention behind this new series is that the seminars can be delivered over lunch, or after the markets close, thus minimising the time spent away from the desk.
The seminar series covers a wide-range of key topics in interest-rates, FX and hybrids, at a level appropriate for salespeople, risk-managers, junior traders and structurers, and staff in finance or product control functions.
For more information regarding these workshops please contact info@bgconsulting.com or call on 0207 648 4000.
Introduction to Counterparty Credit and CVA
The traditional approach to managing counterparty risk in derivatives books (an actuarial-style credit reserve) has been overhauled in recent years and replaced with a market-based valuation adjustment (CVA), dynamically traded/hedged by a dedicated credit desk. This trend has been accelerated by the credit issues surrounding the banking sector during 2007-2009.
Applying the market methodology to pricing credit has thrown up some unexpected and controversial consequences, in particular the issue of ‘self-risk’ adjustments (DVA) by which banks can generate apparent P&L from a write-down in their liabilities due to their own credit spread widening.
This course is designed to provide a comprehensive, but accessible, introduction to the bilateral CVA approach. We outline the theory, demonstrate how CVA reserves can be estimated intuitively, and discuss the thorny issue of DVA and whether the theoretical benefit can actually be locked in. The importance of a bank’s own funding spread to both CVA and the fundamental pricing of derivatives is highlighted.
For more information regarding this workshop please contact info@bgconsulting.com or call on 0207 648 4000.
Bank Analysis, Valuation and Regulatory Capital
One of the issues of greatest concern to our clients, is the ability of all lines of management to understand fully the issues around bank risk management, performance measurement, valuation of banks and regulatory and economic capital – how these are measured, how the Basel rules and other capital adequacy and liquidity regulations work and how the bank’s risk and performance measures relate to its capital base.
For more information regarding our approach to training in this area, please contact info@bgconsulting.com or call 0207 648 4000.
Modern Yield Curve Construction
The issues surrounding yield curve construction, choice of discount curve, and calibration of multiple projection curves to market prices (both in a cross-currency context and with respect to tenor basis swaps) are both problematic and highly topical.
In response to demand from product control and finance desks at a number of leading banks, we are offering a high-level training programme designed to address this topic. A 1-day course, it would be suitable for junior traders and structurers in front-office, and middle-office staff involved in product control or IPV roles.
For more information regarding our approach to training on this topic, please contact info@bgconsulting.com or call 0207 648 4000.