Executive Education Single Modules

Module Director: Professor Alistair Milne
Available Routes: Elective Module: All Routes

Module Overview

The module addresses the current rapid changes in banking technology and the disruptive impact of new ‘fintech’ start-ups, challenging conventional bank business models. The focus is on the interaction of technology (cryptography, mobile banking, AI and machine learning), regulation (e.g. the EU PSD2) and changing business models. A broad issue will be the extent to which new technology is leading to disintermediation of traditional banking functions and to what extent resulting in a co-operation between banks and new non-bank technology-based companies. The lectures will focus on two business areas where the new technologies are having the biggest impact: (i) domestic and international payments; (ii) small business and unsecured personal credit, including trade and supply chain finance. They will also provide a discussion of the public policy and strategic issues in financial technology – in particular the interaction of regulation and innovation in banking technology; and the prospective change in co-operative and shared institutions such as the international card companies Visa and Mastercard and the international payments network Swift. The first three lectures will provide an overview of new payments providers, looking at international payments, and at the rapidly evolving landscape of domestic C2B and B2B payments. A supporting case study will examine the role of the major card companies Visa and Mastercard. The next two lectures will look at technology based ‘non-bank lending’ especially the role of P2P or market place lenders and also invoice and other forms of supply chain finance & the extent to which credit may be supplied entirely outside of the banking system. The final lectures will look at the changing financial technologies from a public policy and strategic perspective, critically examining the role of regulation in both support of and as a barrier to innovation, and the impact of technology on the banking landscape in the years ahead.

Module Aims & Objectives

On completing this module students will:

Be aware of the leading technology-based companies in financial technology and how they are challenging banks in payments services and lending around the world
Understand examine how technology, regulation and business context together shape the opportunities for technological innovation in banking
Have critically examined the strategic and public policy issues raised by the new technologies, including the application of competition law and policy and the extent to which technology leads to new forms of industry competition and co-operation

Key Text

There is no up to date textbook. Students will be guided to relevant research and industry analysis.

Means of Assessment

This module is assessed by means of a single mini project of 3,500 words in length

Unit One: Payment systems and new payment technologies
Unit Two: Credit technologies and alternative lending
Unit Three: The public policy and strategic implications of the new technologies

Module Director: Ian Hardcastle MBA
Available Routes: Chartered Banker MBA Core Module Full Programme, Accelerated and Super Accelerated Routes

Module Overview:

There are many patterns and actions and business approaches which define an organization's strategy, and you will be afforded opportunities to identify those which are pertinent for financial services firms. The financial services sector is one of the most regulated industry sectors and the implications of this along with the characteristics of the service products will be noted throughout the module. The theory and principles underpinning business operations and activities will be explored and insights applied to financial services firms. In completing the units for the module, reference is made to services management and operations; the unique characteristics of services which may be a challenge or provide an opportunity in devising and implementing a unique and successful corporate strategy. As aspiring business leaders and future decisionmakers, it is essential that you can ascertain the essence of business operations and the factors which contribute to a firm's competitive advantage.

Module Aims & Objectives:

On completing this Corporate Strategy module, you will be expected to be able to:

• Critically appraise the theoretical contributions in the area of strategic management
• Analyse the role and influence of the environment (internal and external) on a firm’s strategic decisions
• Explain the essence of competitive advantage and the factors which contribute to a firm gaining and sustaining a competitive advantage
• Adjudicate on the extent to which stakeholders influence the design and implementation of a firm’s strategy and
• Outline and explain what constitutes effective managerial leadership in achieving superior strategy execution and operating excellence

Key Text:

Exploring Strategy – Text & Cases (9th Edition) Johnson, G. Whittingtong, R. Scholes, K. & Angwin, D.

Means of Assessment:

This module is assessed by means of an individual assignment (40%) and examination (60%)

Unit 1 - Strategy, Concepts & the Strategic Position
Unit 2 - Strategic Choices
Unit 3 - Strategy in Action

Module Director: Mr Ian Roberts
Available Routes: Chartered Banker MBA Full Programme, Accelerated and Super-Accelerated Routes, CertBMT

Module Overview:

This module explores the key areas surrounding Credit and Lending, starting with the relationship between the banker & customer, through business lending procedures and ends with credit risk practices for each type of bank (retail, business and commercial). Students studying the module will develop a detailed and critical knowledge and understanding of credit and lending in the banking industry and will also develop a range of banking skills, techniques and practices at a professional level.

Module Aims & Objectives:

On completing this module, students will be able to:

Demonstrate an extensive, detailed and critical knowledge of the legal aspects of the banker – customer relationship
Describe in detail the principles of lending and the main lending and credit products
Demonstrate detailed knowledge and understanding of the procedures for taking a range of securities for advances
Exercise a range of business banking lending skills, techniques and practices and interpret and assess business accounts, including identifying, formulating and solving business problems and assessing and managing risk in a business banking context
Demonstrate detailed knowledge and understanding of diligence and bankruptcy
Demonstrate an extensive, detailed and critical understanding of how the credit risk functions, and how it plays its part in managing risk for a banking business
Means of Assessment:

This module is assessed by means of an individual assignment (40%) and examination (60%)

Unit 1 covers: The aim of Unit 1 is to introduce Credit and Lending and to explain the main themes that run throughout the module. The structure of the module is outlined, and the main text introduced. An overview is provided of Credit Risk Management and its role in the modern financial services industry. The imperative is on a structured and practical approach to maximise profitability within the Lending portfolio. These issues are explored as important themes in modern Credit Risk Management. A fundamental approach of this module is that Credit and Lending is a central element of practical bank financial management. Indeed, a high percentage of most Commercial Banks assets are employed in the Lending portfolio. The module recommended textbook adopts the same practical approach. This approach enables Credit and Lending to be explored within its most appropriate bank strategic and managerial function, bank financial management.

Unit 2 covers: The aim of Unit 2 Part 1 is to introduce Retail Credit- Small Business Lending and to explain several tools and techniques to assist the Lender in the evaluation of Credit risk. We will review the economic setting and importance of the SME sector. The imperative is again on a structured and practical approach to maximize profitability within the Lending portfolio.

The aim of Unit 2 Part 2 is to introduce Large Company analysis and valuation; together with Stock Market performance indicators and the use of financial models to predict corporate distress. The imperative is again on a structured and practical approach to maximize profitability within the Lending portfolio. These issues are explored as important themes in modern Credit risk management. A fundamental approach of this module is that Credit and Lending is a central element of practical bank financial management.

Unit 3 covers: The aim of Unit 3 is to examine in Part 1 of this unit the specialised lending topic of structured finance and project finance. In part 2, to examine the specialised lending topic of Object Finance and to understand how financial engineering techniques can reduce the cost of capital in these complex financing projects. The imperative is again on a structured and practical approach to maximise profitability within the Lending portfolio. These issues are explored as important themes in modern Credit risk management.

Key Textbook:

Checkley, K., & Dickinson, K. (2018). Credit Masterclass (1st ed., Vol. 1). Credit Skills Academy. Ethics, Regulation & Compliance Information to follow – new module merge

Module Director: Mr Ian Roberts
Available Routes: Chartered Banker MBA Core Module: Super Accelerated Route
Elective Module: Chartered Banker MBA Full Programme and Accelerated Route

Module Overview:

Responsibility for compliance within capital markets has devolved to the front line and all employees are now expected to fulfil their role in combating financial crime. Whether your role is client facing, operational or in a support function this module will help you better understand your organisation's vulnerabilities to financial crime.

The module will consider the prevalence, form and methods of financial crime undertaken by individuals, financial institutions and their employees. The student will learn the methods through which crime is undertaken including fraud, money laundering and terrorist financing, and the global regulatory environment and professional methods in which the effects of financial crime can be alleviated and minimised.

Adopting a professionally orientated approach to address the subject matter and focus on alleviation and management of the risks posed by financial crime in Banking and Finance. This module draws heavily on real case studies to allow students to analyse actual examples of financial crime and evaluate methods to address and limit the scale and scope of financial crime in financial institutions and markets.

Module Aims & Objectives:

Successful completion of this module will enable students to:

• Synthesise and articulate a typology of financial crime and its predicate offences
• Describe the global, regional and local financial regulatory bodies and critically assess their functions and interrelationships
• Appraise the legal, ethical and regulatory requirements of financial firms to eradicating financial crime
• Understand the consequences of financial crime on society and the banking and finance sector
• Analyse real case studies to appreciate the complexity and prevalence of financial crime

Means of Assessment:

This module is assessed by means of a single mini project comprising a professional report considering the learner's business environment and local scenarios.

Course Overview

• The module introduces the phenomenon of financial crime and the scale of the problem. Setting the context of the centrality of the banking and finance sector in combating financial crime and the complexity of the issue. Case studies are introduced, and students are encouraged to engage with these throughout the module. The international, regional and national regulatory bodies are introduced and some of the terminology used by them.
• Drivers of financial crime including bribery and corruption, organised criminal gangs and human trafficking.
• Money laundering, terrorist resourcing and proliferation financing and the role of the financial sector and banker's professional obligations.
• Fraud is a substantial problem for banks and their customers. Understanding some of the drivers of fraudulent behaviours and methods to address fraud are critical.
• Risk management has moved from something done for front-line bankers to something that front-line bankers are expected to actively engage with. Understanding approaches to risk culture.
• The role of offshore financial centres and a globally interconnected banking system in facilitating financial crime.
• The socio-economic effects of financial crime and contemporary issues such as sanctions.

Module Director: Professor John Goddard
Available Routes: Chartered Banker MBA Core Module - Full Programme Route

Module Overview:

This module considers the managerial theories of the firm, including production and costs, market structures, strategic pricing and competition policy. These important and challenging concepts, and their relevance to modern management, are set in context for the student to reflect upon their own organisation’s economic behaviour and strategies. The module emphasises the importance of an economic understanding of how modern firms behave, from managerial behaviour to production
methods, and a detailed analysis of cost controls. The objective of the module is to expose the student to a challenging perspective on evaluating firms and management in areas as diverse as pricing policy and behaviour in inter-dependent markets. The module examines the key concepts of managerial economics and applies these to real world scenarios.

Aims & Objectives:

On completing this module students will:

• Be able to understand and apply the key theories governing managerial economics
• Understand the impact of fixed and variable costs, slack, elasticity and the Penrose effect on organisations
• Be able to apply the knowledge gained in the study of the production process and its various elements to the organisation
• Understand the linkage between costs and profits and the importance of fixed costs
• Understand the economic nature of strategic rivalry and exploit it to consolidate a firm’s market share
• Be able to review their firm’s competitive strategy in respect of competition legislation and policy
• Have a detailed understanding of the role of managerial economics within the banking and financial services industry

Key Text:

Industrial Organization: Competition, Strategy, Policy (3rd Edition) Lipczynski, J. Wilson, J. and Goddard, J.

Means of Assessment:

This module is assessed by means of an individual assignment (40%) and examination (60%)

Unit One covers:

Module 1 reviews the core elements of production and cost theory and demand theory that form the
building-blocks of the neoclassical theory of the firm. Section 1.2 introduces the theory of the firm and the Structure-Conduct-Performance paradigm. The technical analysis of production and costs begins in Section 1.3 with a review of production and cost theory. A key distinction is drawn between the short run (when some inputs are variable and others are fixed) and the long run (when all inputs are variable). The short-run relationship between inputs, output and production costs is governed by the Law of Diminishing Returns, and the long-run relationship is governed by economies of scale or diseconomies of scale. Section 1.4 reviews the essentials of demand theory, including price elasticity of demand, a standard measure of the responsiveness of quantity demanded to a change in price. Finally, Section 1.5 develops a general rule for the firm to achieve profit maximization. The profit-maximizing firm should produce the output level at which its marginal revenue equals its marginal cost.

Unit Two covers:

Module 2 begins by reviewing the body of microeconomic theory known as the neoclassical theory of the firm. The neoclassical theory of the firm describes how firms should set their output levels and prices to maximize their profits, under various sets of assumptions concerning market structure. The most important characteristics of market structure are the number of firms, the extent of barriers to entry, and the degree of product differentiation. The two most extreme cases considered by the neoclassical theory of the firm are perfect competition (the most competitive model) and monopoly (the least competitive). Sections 2.2 and 2.3 examine these two models, and Section 2.4 examines an intermediate case known as monopolistic competition.

Unit Three covers:

Module 3 uses a managerial economics framework to examine selected topics in firm strategy and competition policy. The pricing models developed in the previous modules assume that firms set uniform prices that are identical for all consumers and are identical no matter what quantity each consumer buys. Section 3.2 examines a pricing policy known as price discrimination, under which a firm either sells at different prices to different consumers or makes the price per unit each consumer pays dependent on the number of units purchased. For such a policy to be possible, the firm must enjoy some degree of market power, and the market must be divisible into sub-markets between which secondary trade or resale is not possible.

Module Director: Mr Jeff Williams-Jones
Available Routes: Chartered Banker MBA Elective Module: All Routes

Module Overview:

Entrepreneurs and small firms are the lifeblood of an economy, and make an increasing contribution to innovation, wealth creation and employment. This module will provide a detailed insight into the concepts of entrepreneurship and the role of small firms within the economy. It will encourage participants to develop a critical awareness of the nature and role of the entrepreneur in the economy and society. Students will learn the processes involved in new venture creation and creating business plans. They will develop an appreciation of the different types of firm, from business start-ups, through family businesses to franchises and the diverse skill sets these require.

Aims & Objectives

On completing this module students will:

• Understand the terms “entrepreneur” and “owner/manager” and the differences/ similarities between them
• Understand the entrepreneurial role in relation to the formation and development of a small business
• Understand the development and complexities of other forms of businesses such as franchises and family businesses
• Understand the purpose of a business plan
• Be able to draw up a business plan of sufficient depth and standard and to tailor the plan to differing reader interest
• Be able to extract the relevant information from a business plan created by others

Key Text:

New Venture Creation: Entrepreneurship for the 21st Century (10th Edition) S Spinelli & R Adams - McGraw Hill

Means of Assessment:

This module is assessed by means of a single mini project of 3,500 words in length.

Module Director: Mrs Deborah Mitchell
Available Routes: Subject-Specific Module on the Financial Crime & Compliance MBA programme

Module Overview

The module introduces the concept of money laundering, and common typologies of these behaviours. This includes consideration of legal obligations, regulation risk assessment and the levels of diligence and reporting which are required to counter money laundering. In this introductory module learners are introduced to aspects of critical thinking to inform the tasks of due diligence and problem solving for financial intelligence purposes. They develop the ability to research academic and professional literature, present information in appropriate manners both written and oral for different audiences (regulatory, corporate as well as academic).

Module Aims & Objectives

The module provides an introduction to the wider programme, and provides an education base for considering anti-money laundering. This includes an introduction to issues of money laundering and regulation, and the need for critical thinking and reflection in financial investigations. The module also reviews the fundamentals and standards necessary to produce information in a concise manner both written and oral to produce informative reports on financial intelligence for different stakeholders with an interest in scrutinising ‘compliance’.

Key Text

The three course handbooks used on this module are accessed through the ManchesterCF platform. ManchesterCF is a specialist training provider in financial crime, and continually update their materials in response to changes in regulation. The materials will explore the theoretical concepts and practical aspects of fundamentals of anti-money laundering, critical thinking and information presentation to introduce a wide range of real-world cases.
Unit 1 - FIU Connect Critical Thinking
Unit 2 - FIU Connect Fundamental AML
Unit 3 - FIU Connect Report Writing

FIU Connect Financial Investigations unit will also be provided as an overarching reader across the programme, and will be introduced during the  Introduction to Financial Crime & Compliance module.

Means of Assessment

The module is assessed by 2 components:

A report addressing the topic set about ‘Fundamentals of Anti-Money Laundering’, including reflection on the process of research and report preparation (4000 words)

Preparation and recording of a presentation related to the Fundamentals of AML component of the report (10 minutes duration)

Available Routes: Subject-Specific Module on the Financial Crime & Compliance MBA programme

Module Overview
The module considers the legislative and regulatory environment that defines and seeks to control financial crime associated with inappropriate exploitation of the physical environment, and money-laundering based on trade. The resulting economic sanctions that are often introduced to encourage compliance are assessed. The motivations for initial development and persistence of each crime are outlined and how they may be detected. Appropriate policy responses are introduced to counter and combat such crimes.

Module Aims & Objectives
The module considers the broader institutional context of societies around the world that are increasingly emphasising their concern about damage to the physical environment - both for current and future generations of citizens. Environmental crime ranges from pollution in-situ to the trade of environmental resources between nations. Sovereign governments often introduce economic sanctions on other nations or individual organisations (including banks) to restrict such trade. Providers of financial services require an appreciation of these forms of crimes in order to effectively engage with the sustainability agenda.

Key Text
The three course handbooks used on this module are accessed through the ManchesterCF platform. ManchesterCF is a specialist training provider in financial crime, and continually update their materials in response to changes in regulation. The materials will explore the theoretical concepts and practical aspects of trade-based, environmental crime and economic sanctions to introduce a wide range of real-world cases.
Unit 1 - FIU Connect Economic Sanctions
Unit 2 - FIU Connect Trade-Based Money Laundering
Unit 3 - FIU Environmental Crime

Means of Assessment
The mini-project assessment for Institutional Perspectives of Global Financial Crime comprises two parts:-

1. Research that requires the student to identify the ‘current state-of-play’ for the Institutional Perspectives of Global Financial Crime in their product & geographic areas of operation for each of the three topics in the module, & assess how these compare to developments in the industry globally. (5500 words and carries 75% module weighting).
2. A critical evaluation of ‘best practice for risk mitigation’ for Institutional Perspectives of Global Financial Crime as indicated in the study materials & supplementary readings, across the three topics in the module (1500 words and carries 25% module weighting).

Available Routes: Subject-Specific Module on the Financial Crime & Compliance MBA programme

Module Overview

The module considers financial crime and intelligence about capital markets, and private and correspondent banking. For each of the three contexts the student is introduced to regulatory concepts and approaches, before learning about different methods used to detect crime, mitigate and prevent such behaviours. Products, risk management and the wider institutional structures relevant to each situation are discussed. The specific banking sub-sectors may be adjusted from year-to-year depending on relevant developments in the industry.

Module Aims & Objectives

The module provides a detailed examination of current themes in financial crime which arise in correspondent banking, private banking and capital markets. For all settings the student is introduced to product knowledge and organisational context to enable critical evaluation of detection and mitigation of financial crime and money laundering. The module includes case studies of recent supervisory actions and examples of financial settlements extracted from non-compliant organisations.

Key Text

The three course handbooks used on this module are accessed through the ManchesterCF platform. ManchesterCF is a specialist training provider in financial crime, and continually update their materials in response to changes in regulation. The materials will explore the theoretical concepts and practical aspects of correspondent banking, private banking and capital markets to introduce a wide range of real-world cases.
Unit 1 - FIU Connect Capital Markets
Unit 2 - FIU Connect Correspondent Banking
Unit 3 - FIU Connect Private Banking

Means of Assessment 

The mini-project assessment for Financial Crime in the Banking Industry comprises two parts:-

1. Research that requires the student to identify the ‘current state-of-play’ for Financial Crime in the Banking Industry in their product & geographic areas of operation for each of the three topics in the module, & assess how these compare to developments in the industry globally (5500 words and carries 75% module weighting).
2. A critical evaluation of ‘best practice for risk mitigation’ in for Financial Crime in the Banking Industry as indicated in the study materials & supplementary readings, across the three topics in the module (1500 words and carries 25% module weighting).