+44 (0) 207 193 0850
paul.kitching@dacme.co.uk
The purpose of this first session is to introduce students to the CISI examination syllabus and style. We examine real past questions and review the immediate past exam paper.
This will enable students to build knowledge, remove uncertainty and commence working towards the real exam with confidence.
The second session will build knowledge with respect to the trade cycle and the important stages of post-trade activity, highlighting clearing and settlement.
We go on to introduce operational risk and explore the issues via examples. This is an essential area for study as risk topics feature regularly in this exam.
This session begins by giving students an insight into what is expected of them by the CISI examination panel. We also look at examination technique and answer planning.
It then addresses the role and objectives of operations as a discipline. Another point of our attention is change management and the benefits of automation in operations. Next, the focus moves on to the trading environment and execution venues. This will enhance students’ knowledge of this vital facet of the exam syllabus.
This session returns to the topics of clearing and settlement and provides greater detail of this important area. We move on to look at financial derivatives.
The session ends, as with others, by looking at a specific past question selected from past exams. The focus is on the longer Section B and C questions, rather than the short-form ones from Section A. The intention is to prepare students to tackle with confidence whatever question the exam may deliver.
Here we return initially to look at risk in greater detail. The principal focus is on operational risk but the broader spectrum of risk in financial operations is examined.
Almost every examination paper features a long-form question on risk as well as the Section B case study itself, which will always comprise risk elements. It is vital that candidates for the exam are prepared to answer these types of questions.
Recent past examinations feature the subject of fund management administration in their Section B case studies and Section C questions. Therefore, we begin by looking at this important area. According to the CISI Chief Examiner’s feedback, many candidates struggle to submit well-constructed answers. We aim to help rectify this.
Custody, asset servicing and corporate actions are typical subject areas and frequently visited by the examination, so we then explore these themes to provide full subject matter coverage for students.
Session seven takes a look at some of the issues that have affected operations in recent times. This includes the regulatory concentration on operational resilience exacerbated by the global pandemic. Another important development is the emphasis on ESG and investment sustainability.
We also examine securities financing and the operational issues which come into play in parallel with that such as collateral management, securities lending and repo.
This final session of the eight tackles some areas which have so far not been included within the series.
The most important of these is the broad topic of regulation, knowledge of which is essential for candidates to possess.
We also review the market developments and infrastructure initiatives in the USA and Europe. We couple this with some coverage of the SWIFT services which are used so widely across the securities markets.
