COURSE OVERVIEW

Synopsis

The financial world is changing dramatically in tandem with the worlds of information technology and artificial intelligence. As a professional, you cannot afford to fall behind in acquiring the necessary skills to advance your career in finance.

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The financial industry provides numerous opportunities, both on and off Wall Street, to suit a wide range of skill sets and interests. So, it's time for you to learn Applied Finance, where you'll gain a broad understanding of relevant financial theory and concepts, that will allow you to easily dominate the finance job market.

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PROGRAMME OVERVIEW

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The Executive Programme in Applied Finance (EPAF) at IIM Calcutta aims to develop brilliant finance minds by providing cutting-edge knowledge in the frontiers of finance using contemporary pedagogy. This 12-month programme, with its core and special courses, as well as interactive online and on-campus pedagogy, allows you to gain expertise and pursue a career in specialised fields of finance such as corporate finance, banking, alternative investment, and risk management.

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LEARNING OBJECTIVES

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Participants will:

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• Have advanced cognitive, theoretical and technical finance knowledge and skills in interpreting, analysing, evaluating and solving emerging and/or advanced finance problems.

• Be able to recommend risk management strategies and appropriate analytical techniques to empower financial decision making.

• Develop necessary cognitive skills and apply them to corporate financial decision-making; investment decisions & portfolio management; derivatives & risk management; portfolio construction; corporate valuation; and debt markets.

• Exercise professional judgement to propose solutions to problems in diverse contexts using economic, finance, regulatory and ethical perspectives.

• Integrate financial knowledge in the successful operation of the organisation and its participation in local and international financial arenas.

Programme Highlights

• Contextually designed programme for finance professionals

• 7-day campus immersion at IIM Calcutta

• Focus on real business use cases

• Peer-learning and networking opportunities

• IIM Calcutta Executive Education Alumni status

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PROGRAMME CONTENT

​Business Accounting and Analysis

• Introduction to financial reporting and statements

• Balance sheet, income statement

• Cash flow statement

• Financial statement analysis

• Cost concepts: Job costing

• Activity-based costing, process costing

• CVP analysis; decision making

• Corporate Finance

• Overview of corporate finance functions, financial markets, and Indian financial systems

• Making capital investment decisions

• Net present value and other investment rules

• Introduction to risk and returns

• Cost of capital: Theoretical background

• Optimal capital structure

• Working capital management

• Dividend policy

• Business Valuation

• Valuation of shares

• Analysing risk in valuation, methods of calculating country risk premium

• Forecasting cash flow structure of discounted cash flow valuation, detailed cash flow forecasts

• Firm valuation models: Cost of capital and adjusted present value (APV) approach

• Relative valuation equity multiples-P/E, PEG, P/BV, P/Sales, P/FCFE, etc.

• Advantage of value multiples over equity multiples

• Valuation using real options

• Valuation-venture capitals

• Bank Management

• Banking and financial services industry

• Financial statements and performance of banks, sources of bank statements

• Retail banking liabilities, corporate banking activities on the asset side

• Assessments of working capital loan products

• Assessments of term loan products

Special Courses:

Fixed Income Markets

• Fixed income products and their valuation

• Risk associated with fixed income markets

• Term structure of interest rates

• Spot rates, forward rates

• Managing interest rate risk, duration, and convexity

• Trading strategies in fixed income markets

• Benchmark rates and indices

• Investment Management

• Risk and return estimation of risky assets

• Portfolio formation

• Asset pricing theories

• Macroeconomics and fundamental analysis

• Portfolio rotation strategies

• Mutual funds, ETFs

• Performance evaluation of a portfolio

• Financial Derivatives

• Introduction to derivatives

• Mechanics of future markets

• Hedging strategies using future tutorial

• Determination of forward and future prices

• Mechanics of option markets

• Trading strategies involving options

• Binomial tree and Black Scholes model

• Alternative Investment and PE/VC

• a) What is an alternative investment?

• b) Environment of alternative investment

• c) Portfolio optimization

• d) Traditional measures of performance

• a) What is hedge fund? Concept of arbitrage

• b) Short selling

• c) Long/short equity

• Various hedge fund investment strategies

• Real assets: Nature, valuation and risk, commodities, real estate, and equity investments

• a) Private equity

• b) Structured products

• High-frequency trading and liquidity

• Financial Risk Management

• Introduction to financial risk management

• Market risk: Estimation of VaR and expected shortfall

• Forex translations, transaction, and operating exposures

• Exposure management, stress testing, and extreme value theory

• Credit risk management

• Understanding operational risk

• Economic capital and RAROC

• Basel regulations I, II, II.5 and III

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CAMPUS IMMERSION

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• There will be two campus visits at IIM Calcutta campus – a 4-day visit and a 3-day visit

• It is mandatory for participants to attend all the campus modules for the successful completion of the programme. The campus module will be conducted subject to the evolving pandemic situation and will depend on Government and Institute policies related to the same. In case the campus module is not confirmed due to any reason, the same will be included in the total number of online sessions.

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ELIGIBILITY CRITERIA

Bachelor’s Degree (10+2+3 or equivalent) or Diploma holders (10+2+3) or Master’s Degree or equivalent in any discipline with 50% marks