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Treasury Middle Office & Risk Control Training Course

Equips middle office teams to independently monitor treasury activity, control market, liquidity and counterparty risk, and verify valuations and P&L.

TFM · Treasury & Financial MarketsAll Levels#2403ClassroomEnglish , Arabic
Duration
5 Days
Download BrochureView Upcoming Dates

Free substitution at any time · 30+ days' notice: full refund minus 10%. Cancellation policy

Course Overview

The Treasury Middle Office & Risk Control Training Course equips treasury middle office, market risk, treasury control, finance, and audit professionals with the knowledge and practical tools needed to independently monitor treasury activities, measure and control market, liquidity, and counterparty risks, verify valuations and profit and loss, and maintain a robust treasury control environment. In banks, central banks, investment firms, sovereign and public investment funds, and corporate treasuries, the middle office provides the independent oversight that protects the organization from excessive risk-taking, valuation errors, limit breaches, unauthorized trading, and conduct failures. Major trading losses in the industry have repeatedly shown the consequences of weak segregation of duties, ineffective limit monitoring, and inadequate independent price verification. The course covers the full scope of treasury middle office and risk control. Participants learn treasury organization and the segregation of front, middle, and back office responsibilities, treasury governance, policies, and committees, and the products and markets the middle office oversees, including foreign exchange, money market, fixed income, derivatives, and Islamic treasury instruments. The program then addresses trade validation and off-market rate checks, limit frameworks covering dealer, position, stop-loss, tenor, counterparty, settlement, and country limits, market risk measurement using sensitivities, value at risk, and stress testing, counterparty credit risk measurement and exposure monitoring, liquidity risk monitoring, interest rate risk in the banking book, and the interface with asset and liability management. Participants also examine independent price verification, valuation adjustments, and profit and loss attribution and verification, hedge accounting and effectiveness, model risk, trade surveillance and conduct controls, lessons from rogue trading cases, reconciliation and data controls, regulatory reporting, and risk reporting and dashboards for management and risk committees. The course is delivered through treasury case studies, limit monitoring and breach escalation exercises, risk measurement and stress testing calculations, valuation and profit and loss verification workshops, and analysis of major trading loss events. Participants leave with a treasury limit framework template, a trade validation and off-market rate check checklist, a market risk and stress testing worksheet, an independent price verification and profit and loss verification checklist, and a treasury risk dashboard design.

Learning Objectives

  • Analyze the role of the treasury middle office and the consequences of weak treasury controls, drawing lessons from major trading loss events, on Day 1.
  • Apply segregation of duties between front, middle, and back office and treasury governance through policies, committees, and delegated authorities.
  • Explain the risk characteristics of foreign exchange, money market, fixed income, derivative, and Islamic treasury products.
  • Apply trade validation, off-market rate checks, and deal capture controls.
  • Design and monitor limit frameworks covering dealer, position, stop-loss, tenor, counterparty, settlement, and country limits, and manage breaches and escalation.
  • Measure market risk using sensitivities, value at risk, and stress testing and interpret the results.
  • Measure and monitor counterparty credit risk and settlement exposures.
  • Monitor liquidity risk and interest rate risk in the banking book and support asset and liability management.
  • Perform independent price verification, apply valuation adjustments, and verify and attribute profit and loss.
  • Apply hedge accounting and hedge effectiveness principles and manage model risk.
  • Implement trade surveillance, conduct controls, reconciliation, and data integrity controls to prevent unauthorized trading and errors.
  • Prepare treasury risk reports and dashboards and support regulatory reporting and risk committees by the end of Day 5.

Who Should Attend

This course is designed for treasury middle office staff, market risk and liquidity risk officers, treasury control and product control professionals, and treasury operations and back office supervisors. It is also relevant for internal auditors, compliance officers, finance and valuation professionals, asset and liability management staff, treasury dealers seeking to understand control requirements, and risk managers moving into treasury oversight roles. It is particularly valuable for professionals in commercial and Islamic banks, central banks and monetary authorities, investment banks and brokerage firms, sovereign wealth and public investment funds, asset managers, insurance companies, and corporate treasury functions of large organizations.

Learning Outcomes

  • Explain why an independent middle office is essential for sound treasury operations.
  • Apply proper segregation of duties and treasury governance.
  • Understand the risks of the main treasury products.
  • Validate trades and identify off-market or suspicious transactions.
  • Design, monitor, and escalate treasury limits effectively.
  • Measure market risk and interpret stress test results.
  • Monitor counterparty and settlement exposures.
  • Monitor liquidity and interest rate risks and support asset and liability management.
  • Verify valuations and profit and loss independently.
  • Understand hedge accounting and model risk considerations.
  • Implement controls that prevent unauthorized trading and conduct breaches.
  • Produce clear treasury risk reports for management and committees.

Course Outline

Course Outline:

Day 1

Treasury Organization, Governance, and Products

  • The role of the treasury middle office and lessons from major trading losses
  • Segregation of front, middle, and back office responsibilities
  • Treasury governance: policies, committees, and delegated authorities
  • Treasury products and their risk characteristics, including Islamic treasury instruments
  • Practical application: participants analyze a major trading loss case and identify control failures
Day 2

Trade Validation and Limit Frameworks

  • Deal capture controls, trade validation, and off-market rate checks
  • Limit frameworks: dealer, position, stop-loss, tenor, counterparty, settlement, and country limits
  • Limit monitoring, breaches, and escalation
  • Counterparty credit risk and settlement exposure measurement
  • Practical application: participants design a limit framework and process limit breach scenarios
Day 3

Market and Liquidity Risk Measurement

  • Sensitivities for foreign exchange, interest rate, and option positions
  • Value at risk and its limitations
  • Stress testing and scenario analysis
  • Liquidity risk monitoring, interest rate risk in the banking book, and asset and liability management
  • Practical application: participants calculate sensitivities and value at risk and run stress tests on a treasury portfolio
Day 4

Valuation, Profit and Loss, and Accounting Controls

  • Independent price verification and market data controls
  • Valuation adjustments and model risk
  • Profit and loss verification and attribution
  • Hedge accounting and hedge effectiveness
  • Practical application: participants perform independent price verification and profit and loss attribution for sample positions
Day 5

Conduct, Surveillance, Reporting, and Control Framework

  • Trade surveillance, conduct controls, and unauthorized trading prevention
  • Reconciliations, data integrity, and system controls
  • Regulatory reporting and risk reporting to management and committees
  • Strengthening the treasury control framework
  • Final workshop: participants design a treasury risk dashboard and present a treasury control improvement plan

Upcoming Dates

Selected date

Tunisia · 30 Aug – 3 Sept 2027 · Classroom

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CityDatesPrice per ParticipantEarly Bird
GenevaScheduled
9 – 13 Nov 2026€6,300—
IstanbulScheduled
16 – 20 Nov 2026€4,700—
Kuala LumpurScheduled
23 – 27 Nov 2026€4,400—
LisbonScheduled
30 Nov – 4 Dec 2026€5,400€4,860until 9 Nov
LondonScheduled
7 – 11 Dec 2026€5,600€5,040until 16 Nov
MadinahScheduled
14 – 18 Dec 2026€4,200€3,780until 23 Nov
MadridScheduled
14 – 18 Dec 2026€5,400€4,860until 23 Nov
MakkahScheduled
21 – 25 Dec 2026€4,200€3,780until 30 Nov
ManamaScheduled
28 Dec 2026 – 1 Jan 2027€4,700€4,230until 7 Dec
MarrakeshScheduled
4 – 8 Jan 2027€4,300€3,870until 14 Dec
MilanScheduled
11 – 15 Jan 2027€6,000€5,400until 21 Dec
MunichScheduled
18 – 22 Jan 2027€5,400€4,860until 28 Dec
MuscatScheduled
25 – 29 Jan 2027€5,300€4,770until 4 Jan
OnlineScheduled
31 Jan – 4 Feb 2027€1,700€1,530until 11 Jan
ParisScheduled
1 – 5 Feb 2027€5,700€5,130until 11 Jan
RiyadhScheduled
8 – 12 Feb 2027€4,200€3,780until 18 Jan
RomeScheduled
15 – 19 Feb 2027€5,800€5,220until 25 Jan
SingaporeScheduled
22 – 26 Feb 2027€6,700€6,030until 1 Feb
TunisiaScheduled
1 – 5 Mar 2027€3,800€3,420until 8 Feb
ViennaScheduled
8 – 12 Mar 2027€5,700€5,130until 15 Feb
ZurichScheduled
15 – 19 Mar 2027€5,000€4,500until 22 Feb
AmmanScheduled
21 – 25 Mar 2027€3,100€2,790until 1 Mar
AmsterdamScheduled
22 – 26 Mar 2027€5,400€4,860until 1 Mar
BakuScheduled
29 Mar – 2 Apr 2027€4,800€4,320until 8 Mar
BarcelonaScheduled
5 – 9 Apr 2027€5,400€4,860until 15 Mar
CairoScheduled
12 – 16 Apr 2027€3,300€2,970until 22 Mar
CasablancaScheduled
19 – 23 Apr 2027€4,300€3,870until 29 Mar
DammamScheduled
26 – 30 Apr 2027€4,200€3,780until 5 Apr
DohaScheduled
3 – 7 May 2027€4,400€3,960until 12 Apr
DubaiScheduled
9 – 13 May 2027€4,400€3,960until 19 Apr
TunisiaScheduled
30 Aug – 3 Sept 2027€3,800€3,420until 9 Aug

Available in: Istanbul · Dubai · London · Riyadh · Doha · Amsterdam

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