Curricula & Programmes2021-07-14T21:08:59+00:00

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Structure

Henley Postgraduate Board Practice and Directorship Programmes  

ENVISIA proudly announces the start of PGCert 3 – the third cohort of Henley Programme in Board Practice and Directorship with academic accreditation that professionalizes the Role of the Board Director: 12th of November 2021!

Apply today  to our TOP Postgraduate Programme!

Submission deadline: 18th of August 2021

– What is The Postgraduate  Board Practice and Directorship Programmes about?

A uniquely crafted practice-based Programme for directors from private, public and third sectors … read more

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Enroll now!

Why join our postgraduate programmes?

Corporate Governance that Creates Value:

Effective Board Director Programme

ENVISIA-Boards of Elite and Bucharest Stock Exchange have joined their forces in an educational partnership to promote responsible governance that creates value and further professionalizes the role of the board director.

– What is the Effective Board Director Programme about?

The Programme raises the awareness on the understanding of the corporate governance law & practice in a national and international context … [read more]

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Enroll now!

Why join our programme?

NAVIGATING THROUGH FINANCIAL MARKETS FOR INVESTMENT OPPORTUNITIES:

AN INTEREST RATES PERSPECTIVE
– Real market context and applications for companies –

(A 9-hour online series: 3 sessions of 3 hrs. each)

ENVISIA – Boards of Elite in educational partnership with ACI Romania and ATR Romania

           

Facilitators:

ANCA IFTIME, ACI 

Senior Private Banker, First Bank, member of ACI Romania

ALICE TULBURE, ACI

Senior Sales Dealer, BRD – GSG, Member of ACI Romania and Member of ATR – The Association of Corporate Treasurers Romania

VLAD VOICU, PhD, CFA, ACI 

Fixed Income Trader, Member of ACI Romania

 


What a company can do in those recurring situations when it has surplus of cash flow? Not to ask about the lucky ones that have persistent cash flow surplus that needs to be put to work in the benefit of the company. The financial theory is abundant with information on the first and foremost steps that need to be taken with the excess cash flow. From reinvesting the money into the company, to build a cash buffer, to paying down debt or distribute dividends as first in hand destinations we should not forget about investing it. Knowing the investment alternatives available in the market, understanding the mechanics of those alternatives and their building blocks and finally, rationally deciding on the best solution are important steps in maximizing the results of any company.

This online course aims at explaining in a more detailed manner the investment solutions a company has in the local market and in the local context. First part of the course will cover the interest rate as a base instrument in financial markets and the relationship between the economy and this concept. The second part of the course will tackle the fixed income products which will be presented in a holistic approach, starting from how the price is constructed and what are the variables that define it and builds up further from here up to the accounting methodology, tax implications, regulations and prerequisites for accessing the products. And the third part is assigned to investments in dedicated funds as a passive investment solution and to structured alternatives that are more sophisticated and that produce higher returns for the company; the content is tailored in the same structure as the second part.

The course facilitators will introduce market examples within every chapter. This will help participants put in real life context all the information provided during this course and work with actual products and tangible information, similar in structure with those offered by Banks or Investment Companies. The exercises will also contain factual market information and market constraints.


LEARNING OUTCOMES

  • Understanding the role of the interest rates in the economy and its implication on several investment products;
  • Gain a better picture on the available solutions the company must invests its excessive cash flows
  • Understand the building blocks of the fixed income products, especially bonds and the local available investments
  • Gain insights into the local investment funds industry and their dedicated funds to companies
  • Get a better sense of what a structured deposit is and what are the local capabilities
  • Understand the risks and return for each product
  • Have a real sense of how the company’s accounting books are changed by the investment made as well as the tax regime
  • Comprehend the investment products regulations and the prerequisites for investing
  • Gain hands-on experience through a multitude of concrete examples provided during the course

CONTENT

  • INTRODUCTION: INTEREST RATES: WHAT AN INTEREST RATE is and FACTORS THAT INFLUENCE THE LEVEL OF INTEREST RATES in an economy. We will also look at THE FINANCIAL MARKETS AND PRODUCTS THAT ARE BASED ON INTEREST RATES and clarify the concepts of future value and present value.
  • PART I: FIXED INCOME INSTRUMENTS. Although our time will be mostly devoted to GOVERNMENT BONDS in general and Romanian government bonds in particular, we will provide a broad overview of THE FIXED INCOME PRODUCTS. Key concepts will be explained, such as YIELD TO MATURITY, PRICE SENSITIVITY, RISK AND RETURN, DURATION and CONVEXITY. All these will be accompanied with PRACTICAL EXAMPLES from the local market. We will also touch upon aspects of accounting, tax and regulations.
  • PART II: INVESTMENT FUNDS. These are a feasible alternative of investment and we will explain why. We will also look at THE TYPES OF INVESTMENT FUNDS available in the local market, their characteristics and differences between them. Specific terminology will be clarified: UCITS, NET ASSET VALUE, DAILY VALUATION. Also, the aspects of accounting, tax and regulations will be discussed for these products.
  • PART III: STRUCTURED PRODUCTS. We will explain the DIFFERENT TYPES and what is the optimal context in which they can be used. We will briefly cover the TYPOLOGY OF OPTIONS that contribute to structured deposits, pros and cons for each type, and will conclude with the accounting impact, tax and regulations.

LEARNING ACTIVITIES: During this course, some basic financial mathematics concepts will be presented. Theoretical concepts will be practiced with both interactive and applied cases.

During the course the concepts introduced will be practiced with interactive examples.


TARGET AUDIENCE: Companies CEO’s and CFO’s who wish to have a clear picture of how to properly invest the cash flow surplus and all the accounting, regulatory and tax implication that come with it; all Treasury personnel at a senior operational level or a managerial role; professionals from other divisions who work closely with treasury and corporate finance and wish to expand their knowledge and skills related to fixed income and alternative investment products available in the local market. The course is also of interest for financial services employees, lawyers, accountants, internal auditors etc.

NUMBER OF PARTICIPANTS: limited to max. 12

The webinars will be highly interactive, based on discussions and case studies.


Facilitator:  Anca Iftime, ACI 

Senior Private Banking Specialist, Member of ACI Romania 

Anca is a member of ACI Romania since 2008. She is a senior banker with 16 years of experience in banking industry, out of which 13 in Treasury and Financial Markets, currently acting as Senior Private Banker at First Bank Romania. Her expertise started as a Trader where she handled price negotiation for FX and Money Market products for Corporate and Retail clients. After only one year she became a Senior Trader and helped creating and developing the Institutional Client base, highly important companies in terms of volumes, assets under management and products traded. Main goal was to offer quality services and competitive prices for all Treasury products. Since 2014, she took over High Net Worth Individuals of the bank for which she offered active trading of financial products (Treasury, Capital Markets, Insurance, Real Estate) based on client’s investment objectives. Throughout this time, she held numerous presentations for enhancing the importance of portfolio diversification along with characteristics, risks and returns of financial products.

Facilitator:  Alice Tulbure, ACI

Senior Derivatives Sales Dealer, BRD-GSG, member of ACI, member of ATR

Alice has worked for two decades in the banking industry in one of the most dynamic areas of banking, namely, in the treasury department. Prior to BRD – Groupe Société Générale, where she currently holds the position of Senior Derivatives Sales Dealer, Alice worked for Citibank Bucharest as a Foreign Exchange Derivatives sponsor. Throughout the years, she worked extensively with clients from different sectors of the economy, focusing lately on growing and developing the business relationship with financial institutions.
Alice graduated from ICMA Centre, Henley Business School – University of Reading, with a Master’s Degree in International Securities, Investment and Banking (2011). She also holds professional certifications related to her area of expertise.
She is an unshakable believer in a brighter future for human civilization and a passionate advocate for high quality education as a pre-requisite ingredient for a better world.

Facilitator:  Vlad Voicu, PhD, CFA, ACI

Fixed Income Trader, Member of ACI Romania

Vlad is a fixed income trader with 12 years of experience in capital markets in Raiffeisen Bank Romania. He started in 2008 as a banknote’s trader, becoming in late 2009 a money market trader, position held until the end of 2012. Since 2013 he is a fixed income trader covering the local market. His responsibilities include all the activities related to proprietary trading and market making for the Romanian bonds (from inter-banking trades to a wide range of customers: private individuals, financial institutions, corporate clients).
He holds a PhD from The Faculty of Management – ASE Bucharest and professional certifications such as: ACI Certificate & Diploma.


DURATION: 9 hours – 3 sessions of 3 hrs. each

LANGUAGE: Romanian (or English at request)

The webinar will be hosted and delivered using ENVISIA Online Platform, allowing the virtual participation, both from home or from work, with no risks associated, using just a browser. After the registration to the course, one day before the webinar took place, the participants will receive a link to access the virtual classroom.

A CERTIFICATE OF ATTENDANCE will be issued by the e-learning platform, after the course.


CONTACT US:

Gabriela HÂRȚESCU, PhD

COO & Dean ENVISIA Business School

Tel: 0040.748.886.800

E-mail: gabriela.hartescu@envisia.eu

CASH FLOW OPTIMISATION IN PRACTICE – Methods and Application

(A 9-hour online series: 3 sessions of 3 hrs. each) 

        

Facilitators:
MADALINA DORILA, EMBA

Presenter/Trainer – Head of Lending Dept. – Corporate Products, BCR

CARMEN CIUCA, ACI, FCCA
Presenter/Trainer – Capital Markets Product Management Raiffeisen Bank, member of
ACI Romania

ANCA IFTIME, ACI
Presenter/Trainer – Senior Private Banker, First Bank, member of ACI Romania

  


Being a small company or a big one, the need for liquidity is paramount in sustaining the day-to-day activity and the growth of the company.

The cash flow optimisation is the most important process that guarantees the liquidity of the company for short term and plans for the longer term sustainability. It is a process that starts from sales process, continues with contractual terms, goes from the accounting books to the cash in bank accounts, and is in the mind of a CFO, treasurer or chief accountant.

This course allows participants to understand how to measure the business performance based on the company’s cash flow and how a good understanding of financial data can lead towards proper investing the cash surplus or identifying the needs to finance cash deficit. The participants will be presented with different types of financing to sustain the cash flow needs and type of instruments to invest in times when company register cash flow surplus.

An optimal cash flow process helps a company to navigate the uncertain times, benefit from market environment and strengthen position with its suppliers and customers by negotiating better commercial terms for its payments and receivables.


LEARNING OUTCOMES

  • Recognise the triggers that influence the deficit or surplus and the cash flows status
  • Identify the internal and external sources of information to build the optimal cash flow
  • How to corelate the cash flow with balance sheet and profit and loss statement
  • Overview on main financial indicators
  • Identify resources to cover cash flow deficit
  • Identify instruments to place cash flow surplus
  • Understand the rules and regulations applicable on the investment services
  • The documentation required to deal in financial instruments

 CONTENT 

  • Cash Flow: where to look for cash flow information; understanding historical and future cash-flow
  • Cover cash flow deficit using different products: working capital, term loans, supply chain financing
  • Invest short and medium term cash flow surplus using short and medium term instruments: Deposits, Bonds and T-bills, Structured Deposits, Mutual Funds and Stocks
  • Complex and non-complex financial products and investment advice
  • Customer protection, costs transparency and reporting
  • Trading venues and channels used in offering financial instruments
  • Pre-requisites in the investment process: contracts, suitability or appropriates tests and distribution models

During the course the concepts introduced will be practiced with interactive examples.


TARGET AUDIENCE: lending officers; treasury professionals; financial controllers; management and financial accountants; auditors; consultants; business owners; directors, managers and corporate administrators; advisors involved in strategy formulation and financial planning; investors; etc.

PREREQUISITE: A basic financial background is compulsory.

NUMBER OF PARTICIPANTS: limited to max. 12

The webinars will be highly interactive, based on discussions and case studies.


Facilitator: Madalina Dorila, EMBA

Presenter/Trainer – Head of Lending Dept. – Corporate Products, BCR

Madalina is a senior banker with 18 years of experience in banking industry on corporate lending area. She is acting now as Head of Corporate Lending Product Management Department in BCR, covering Plain Vanilla Lending Products, Supply Chain Financing as well as Financing Programs. Her experience covers multiple areas like: corporate lending process redesign, implementation of Workflows System, multiple projects for product and process optimization which allowed her to promote internally, via trainings and presentations the business outcome. She holds an EMBA from Vienna University (WU).

Facilitator: Carmen Ciuca, ACI, FCCA

Capital Markets Product Management Raiffeisen Bank, member of ACI Romania

Carmen is a banking professional with 25+ years of experience in banking and financial services. She is an ACCA member since 2013 and she has a Diploma issued in 2001 in Banking and Finance by University of La Crosse in a joint program with Georgetown University. Carmen has 6 years of experience, on banking operations, working in several local banks, spanning from payments instruments to various settlement techniques.  She built and managed for 4 years the middle-office function in Raiffeisen Bank while expanding her experience in the field of market risk, credit risk and operational risk. Carmen had the opportunity to work in a project under Raiffeisen Bank International umbrella, where in a cross-functional and international team, she set the foundation for the product management expertise and for 14 years she improved this area of proficiency. Carmen is currently managing in Raiffeisen Bank Romania the capital market products portfolio. She is a member of ACI Romania

Facilitator: Anca Iftime, ACI

Presenter/Trainer – Senior Private Banking Specialist, Member of ACI Romania

Anca is a senior banker with 16 years of experience in banking industry, out of which 13 in Treasury and Financial Markets, currently acting as Senior Private Banker at First Bank Romania. Her expertise started as a Trader where she handled price negotiation for FX and Money Market products for Corporate and Retail clients. After only one year she became a Senior Trader and helped creating and developing the Institutional Client base, highly important companies in terms of volumes, assets under management and products traded. Main goal was to offer quality services and competitive prices for all Treasury products. Since 2014, she took over High Net Worth Individuals of the bank for which she offered active trading of financial products (Treasury, Capital Markets, Insurance, Real Estate) based on client’s investment objectives. Throughout this time, she actively participated in numerous presentations for enhancing the importance of portfolio diversification along with characteristics, risks and returns of financial products. Anca is a member of ACI Romania since 2008.


DURATION: 9 hours – 3 sessions of 3 hrs. each

LANGUAGE: Romanian (or English at request)

The webinar will be hosted and delivered using ENVISIA Online Platform, allowing the virtual participation, both from home or from work, with no risks associated, using just a browser. After the registration to the course, one day before the webinar took place, the participants will receive a link to access the virtual classroom.

A CERTIFICATE OF ATTENDANCE will be issued by the e-learning platform, after the course.


CONTACT US:

Gabriela HÂRȚESCU, PhD

COO & Dean ENVISIA Business School

Tel: 0040.748.886.800

E-mail: gabriela.hartescu@envisia.eu

CYBER THREAT INTELLIGENCE – RISK ASSESSMENT AND MANAGEMENT

(A 4-hour online series) 

Facilitator: IONUT STOICA 

Lecturer/ Trainer/Cybercrime Expert – Head of Cybercrime Academy, CEPOL 


Cyber Threat Intelligence is the knowledge that allows financial institutions and other companies to prevent or mitigate cyber attacks, by providing valuable information — like who is attacking you, what their motivation and capabilities are and what indicators of compromise in your systems to look for.

Threat intelligence plays a crucial role in today’s cybersecurity ecosystem and it is an important investment for an organization security posture as it provides multiple benefits:

  • It allows for strong prevention by giving, in advance, information on adversaries;
  • It allows you to identify and prevent cyber-attacks;
  • It prepares the organisation for cyber-attacks, on how to assess damages and recover from it.

Given strong technological interconnections, a successful cyber-attack on a major financial or commercial organization could quickly spread through the entire economic system causing widespread disruption and loss of confidence.

The course will train you in the tactical, operational and strategic level cyber threat intelligence knowledge and skills required to make security teams better, threat hunting more accurate, incident response more effective and organizations more aware of the evolving threat intelligence landscape.


LEARNING OUTCOMES

  • Raise awareness on cyber risks for the organization
  • Understand the process to obtain a cyber-threat intelligence report
  • Awareness of the recent cyber-attacks targeting financial and business sector and losses suffered
  • Understand the importance of risk assessment and measures to be implemented to reduce the risk and to recover

CONTENT

  • Importance of threat intelligence in risk management, SIEM – security information and event management and incident response
  • Cyber Threat Assessment.
  • The Threat Intelligence Lifecycle: Planning, Collection, Processing, Analysis, Dissemination and Feedback.
  • Recent cyber-attacks against business & financial organizations: Advanced Persistent Threats (APT) groups using COVID-19; Ransomware, Financial Malware, Data Breaches, ATM Malware attacks, DDOS Attacks; Mobile wallet & Mobile Banking Apps Malware
  • Mobile wallet and Mobile Banking Apps Malware
  • Who are the threat actors?
  • Recommendations for the financial institutions
  • Case Studies

TARGET AUDIENCE: Mid to high-level cybersecurity professionals, Security practitioners, Threat intelligence analysts, Incident response team members, Threat hunters, Ethical hackers, Risk management Officers, Management executives, Legal, Regulatory, Audit, Security, Law Enforcement representatives, Consultants etc.

NUMBER OF PARTICIPANTS: limited to max. 12

The webinars will be highly interactive, based on discussions and case studies.


Facilitator: IONUT STOICA 

Presenter/Trainer/Cybercrime Expert 

Ionut is the Head of the Cybercrime Academy within the EU Agency for Law Enforcement Training (CEPOL), being responsible for developing the necessary knowledge and expertise on cybercrime in law enforcement authorities across Europe. Previously, he was involved in capacity building programs aiming at strengthening legislation and institutional capacities on cybercrime as Senior Project Officer within Cybercrime Programme Office of the Council of Europe and also acted as a cybercrime investigator and the Head of the Dept for Combatting Online Frauds and Electronic Payment Frauds, within the Romanian Police, Central Cybercrime Unit having more than 14 years’ experience in the cybercrime field. He is a certified trainer and he has provided seminars for financial sector professionals in Romania and abroad covering Online Money Laundering, Payment Card Fraud, Blockchain and Crypto Currencies and Measures for Combating Financial Criminality. Ionut holds a Bachelor degree in Law from the Police Academy, a Bachelor degree in Communication and Public Relations, from the National School of Political Studies and Administration and a Master’s degree in International Cooperation.


DURATION: 4 hours (net)

LANGUAGE: Romanian (or English at request)

The webinar will be hosted and delivered using ENVISIA Online Platform, allowing the virtual participation, both from home or from work, with no risks associated, using just a browser. After the registration to the course, one day before the webinar took place, the participants will receive a link to access the virtual classroom.

A CERTIFICATE OF ATTENDANCE will be issued by the e-learning platform, after the course.


CONTACT US:

Gabriela HÂRȚESCU, PhD

COO & Dean ENVISIA Business School

Tel: 0040.748.886.800

E-mail: gabriela.hartescu@envisia.eu

IDENTIFYING THE ULTIMATE BENEFICIAL OWNERSHIP: CHALLENGES AND LEGISLATIVE GAPS 

(A 3-hour online series) 

Facilitator: DANIEL MARIUS STAICU 

Presenter/ Trainer/Evaluator MONEYVAL Committee CoE    


Criminals always tried to circumvent anti-money laundering (AML) and counter-terrorist financing (CFT) measures, using various legal persons in order to disguise and convert the proceeds of crime before introducing them into the financial system. The fewer information regarding both the legal owner and the beneficial owner, the source of the corporate vehicle’s assets, and its activities is available, the better.  

Individuals and groups seeking to conceal the ownership of a legal person or arrangement are most likely to exercise control over those legal persons or arrangements via a combination of direct and indirect control, rather than strictly one or the other. In a majority of cases, the beneficial owner used a combination of layering and direct ownership chains, as well as professional intermediaries and third parties exercising control on their behalf.  

Romania, in its continuous efforts to fight against money laundering and terrorist financing, put in place sound legal provisions ensuring the transparency of the legal persons and arrangements. However, recent amendments weakened the strength of the system, creating challenges in obtaining accurate and up-to date information about the beneficial owners of a legal person or arrangement, for both law enforcement agencies in their judicial procedures and financial institutions and DNFBPs in their CDD/KYC activities. 


LEARNING OUTCOMES

  • Understand the EU and international definitions of the Beneficial Owner (BO) 
  • Better understand and apply the current Romanian legislation in respect to the identification of the BO 
  • Awareness of the obligations of the obliged entities to identify and report the information on their BO 
  • Awareness of the misuse of the legal persons and arrangements 

 CONTENT 

  • The definition of Beneficial Owner – B.O. – F.A.T.F.-G.A.F.I. approach
  • Identifying the B.O. – good practices and global challenges – tax heavens, shell companies, front companies, shelf companies
  • The B.O. – EU legislative framework
  • The B.O. in Romanian legislative framework – overview, obliged legal entities (companies, non-profit legal entities, fiducia, etc.) registers, challenges, deficiencies
  • Access to information by competent authorities

TARGET AUDIENCE: AML  & Compliance Managers and Officers, Risk management Officers, Management executives, Legal, Regulatory, Audit, Law Enforcement representatives, Consultants etc. 

NUMBER OF PARTICIPANTS: limited to max. 12

The webinars will be highly interactive, based on discussions and case studies.


Facilitator: DANIEL MARIUS STAICU 

Presenter/ Trainer/Evaluator MONEYVAL Committee CoE    

Daniel is an accredited trainer in various fields, an evaluator of competencies and last but not least, an evaluator of the Council of Europe (CoE) – MONEYVAL Committee in assessing the compliance of Member States’ AML/CFT systems with international standards and recommendations for the 5th Round of evaluations. He was head of Romanian FIU for almost three years, a position from which he was involved in coordinating risk, operational and strategic analysis, enforcing the law in the field of AML / CFT and international sanctions and coordinating the transposition of European laws into national legislation. This position followed more than 20 years of experience in the structures of the frauds investigation police, where he held various management positions. 


DURATION: 3 hours (net)

LANGUAGE: Romanian (or English at request)

The webinars will be hosted and delivered using ENVISIA Online PlatformPowered by KNOLYX, a secured e-learning platform, allowing the virtual participation, both from home or from work, with no risks associated, using just a browser. After the registration to the course, one day before the webinars took place, the participants will receive a link to access the virtual classroom

A CERTIFICATE OF ATTENDANCE will be issued by the e-learning platform, after the course.


CONTACT US:

Gabriela HÂRȚESCU, PhD

COO & Dean ENVISIA Business School

Tel: 0040.748.886.800

E-mail: gabriela.hartescu@envisia.eu

BUSINESS VALUATION – Principles, Best practice and Application in Uncertain Times –

(A 8-hour online series: 2 sessions of 4 hrs. each) 

         

Facilitators: 

Mihai CARUNTU

Presenter/Trainer, Senior Analyst Corporate Finance Division, BRD – GSG, member of AAFBR   

Carmen LIPARA, PhD

Presenter/Trainer/Consultant, Manager Valuation, Modeling and Economics, EY, member of AAFBR

Daniela ROPOTA, CIIA

Presenter/Trainer/Consultant, Senior Associate Valuation, Modeling and Economics, PwC, President of AAFBR

Mihai STAN, FCCA

Presenter/Trainer, Expert Banking Resolution Dept., NBR, member of AAFBR


The course focuses on two critical concepts of the economic life: business and value. As practitioners interested in economy and more specifically in finance, lecturers understand that knowing what a business is worth is a pre-requisite for decision making in finding on the appropriate price in a transaction and in making management and financing choices when running a business.

The participants will find out what drives the intrinsic value of a business and how this can be estimated using traditional models apparently easy to apply, but to the same extent, whose results seem easy to be challenged. The facilitators will present well-known business valuation methods using spreadsheets tools, pitfalls of financial statements forecast process, and assessment of risk to under-achieve or over-achieve the forecasts. Business valuation results will be of interest for their owners, investors (even if they aren’t listed) or creditors.

In volatile times valuation becomes even more complex and the lecturers will also discuss about the impact of COVID-19 on business valuation.


LEARNING OUTCOMES

  • Gain knowledge and master the main valuation techniques
  • How the key judgments to market multiple valuation is to identify most appropriate comparables and to explore the differences between their business profiles
  • How to build Discounted Cash-Flow Model using inputs such as Weight Average Cost of Capital (WACC), Net Working Capital (NWC), Capital Investments (CAPEX), Net debt and Terminal Value
  • How to make key judgments for a convincing business assessment
  • Understand the role of business plan for a valuation exercise
  • How the COVID-19 pandemic impact a business plan and analytical valuation framewor

 CONTENT 

  • Comparable company valuation (Comparable Company Trading Multiple Analysis and Comparable Transaction Multiple Analysis): range of multiple used in valuation, applicability of multiples and limitations, identifying the most appropriate multiples to evaluate the target company, reasons to consider discounts/premiums in applying the market multiple approach
  • Business plan – Plan to write, plan for research, plan the package and build your numbers
  • Understanding the discount rate concept and calculating each of the components of the Weighted Average Cost of Capital (WACC): Risk Free Rate, Country risk premium, Cost of equity, Cost of debt
  • Understanding the net working capital concept and its impact over the valuation of the company
  • Discounted Cash Flow Model: practical approach of building the model
  • Sensitivity analysis to the development of some key business variables, relevant especially in times of great uncertainty such us the COVID-19 pandemic
  • How to reconcile results between different valuation tools in order to reach the concluded value of the target company

 LEARNING ACTIVITIES

During the course the concepts introduced will be practiced through a case study. The course will also include step-by-step technical hints on valuation process. Participants will present their work virtually to their colleagues on the course for further feedback and discussion.

PREREQUISITE

A basic financial background is required.


TARGET AUDIENCE: Financial analysts, asset managers, private equity managers, high level professionals working in other areas of finance and accounting, top managers and board members, anyone in a managerial position who needs a thorough familiarization to business valuation

NUMBER OF PARTICIPANTS: limited to max. 12

The webinars will be highly interactive, based on discussions and case studies.


Facilitator: Mihai Carunt

Presenter/Trainer, Senior Analyst Corporate Finance Division, BRD – GSG, member of AAFBR 

Mihai is currently senior analyst in the Corporate Finance Division of BRD-GSG, with his main responsibilities of exploring and analyzing companies that are eligible candidates for capital market and M&A transactions. Before joining corporate finance team of BRD-GSG in 2018, he gained a valuable experience as head of the Equity Research Dept. of BCR for a period of over ten years. His main activities from this position were conducting in depth analysis and valuation of the most important companies listed on the Bucharest Stock Exchange (BSE), with reports and investment recommendations released under Erste Group Research brand. Mihai has 20 years of experience in capital market and company valuation and graduated from ASE Bucharest, Faculty of Cibernetics, Statistics and Economic Informatics. Mihai holds an Investment Analyst certification granted by the Financial Supervisory Authority (FSA) and he is member of AAFBR. 

Facilitator: Carmen Lipara, PhD

Presenter/Trainer/Consultant, Manager Valuation, Modeling and Economics, EY, member of AAFBR

Carmen is a senior financial markets professional with more than 15 years of experience in business valuation and financial markets analysis. Currently, she is manager within Valuation, Modeling and Economics subservice line of a Big4 consultancy company. Between 2010 and 2017, she was Head of Financial Markets Research of BRD-GSG Financial Markets Division. She holds a PhD in Finance from ASE Bucharest and she is a lecturer in Finance Department of the university since 2002, delivering courses and seminars on corporate finance, capital markets and business valuation. She also is giving lecturers for CEFA qualification offered by EFFAS & AAFBR. Carmen is member of AAFBR

Facilitator: Daniela Ropota, CIIA

Presenter/Trainer/Consultant, Senior Associate Valuation, Modeling and Economics, PwC, President of AAFBR

Daniela is the President of AAFBR – The Romanian Association of the Financial and Banking Analysts. She is Senior Associate within Valuation, Modeling and Economics subservice line of PwC Romania, being involved in business valuation, state-aid assistance, independent business review, impact studies and assistance in mergers and acquisitions. She has 16 years of experience in capital market and advisory, out of which more than 12 years in analysis of private and public companies including market-based approach and the income approach in various sectors of activity. Also, starting 2019 she is a lecturer for CEFA qualification offered by EFFAS & AAFBR. She is the holder of the Certified International Investment Analyst (CIIA) – EFFAS.

 Facilitator: Mihai Stan, FCCA

Presenter/Trainer, Expert Banking Resolution Dept., NBR, member of AAFBR

Mihai is currently Expert, with NBR, Banking Resolution Dept. He has more than 20 years of professional experience in the banking, finance-accounting and management consulting areas, out of which more than 12 years banking experience with Unicredit, BCR/Erste Group and World Bank, while the rest of experience consisting in auditing, financial analysis reporting & due diligence, valuation, M&A and other management consulting assignments performed with PwC, Rompetrol, as well as an independent consultant for other companies. Mihai holds both international and national professional certifications: ACCA, CECCAR, CAFR. He is a lecturer for: CEFA qualification offered by EFFAS & AAFBR, ACCA papers and other various topics. Mihai is a member of AAFBR.


DURATION: 8 hours (net) – 2 sessions of 4 hrs. each

LANGUAGE: Romanian (or English at request)

The webinars will be hosted and delivered using ENVISIA Online Platform, allowing the virtual participation, both from home or from work, with no risks associated, using just a browser. After the registration to the course, one day before the webinars took place, the participants will receive a link to access the virtual classroom.

A CERTIFICATE OF ATTENDANCE will be issued by the e-learning platform, after the course.


CONTACT US:

Gabriela HÂRȚESCU, PhD

COO & Dean ENVISIA Business School

Tel: 0040.748.886.800

E-mail: gabriela.hartescu@envisia.eu

E-MONEY AND CRYPTO CURRENCIES REGULATIONS: EU DIRECTIVES AND NATIONAL LEGISLATION

(A 4-hour online series) 

Facilitator: IONUT STOICA

Lecturer/ Trainer/Cybercrime Expert – Head of Cybercrime Academy, CEPOL   


By definition, crypto currencies are decentralised and therefore extremely difficult to control. However, in 2018, NBR announced that it discourages any involvement of financial institutions in the crypto currency sector because of reputational risks and the high risks of losing the money invested in virtual assets. Following this announcement almost all the local banks closed the accounts of several crypto currency exchanges.

The EU Anti Money Laundering (AML) Directives make significant new legislative steps in the treatment of virtual currencies, by introducing regulations for providers of crypto currency exchanges and wallets which must now be registered with the competent authorities in their domestic locations. In the same, time crypto currency exchanges are considered “obliged entities” and face the same CFT/AML regulations applied to financial institutions.

In a world where money laundering is fuelled by a high level of sophistication, crypto currencies offer a perfect disguise and are serving to facilitate the issue of illicit money flows. Therefore it is extremely important to understand this new payment ecosystem and the implications to ensure compliance with AML regulations.


LEARNING OUTCOMES

  • Comprehend the regulations on crypto currencies
  • Understand the structure of crypto currencies and identify indicators of illegal use of e-money and crypto currencies
  • Better evaluation of the AML risks related to crypto currencies
  • Share good practices to identify and trace wallets and crypto currency transactions
  • Analyse problems connected to audit of use of crypto currencies as a payment solution

 CONTENT 

  • Why is important to regulate e-Money and crypto currencies?
  • EU legislation – 4th, 5th and 6th AMLDs, directives on combating money laundering by criminal law – regulations for e-money and crypto currencies;
  • Romanian legislative framework – overview, evolution
  • Blockchain technology and evolution of crypto currencies
  • Crypto wallets and crypto exchanges
  • Crypto currencies – challenges in AML/CFT
  • Case studies

TARGET AUDIENCE: AML  & Compliance Managers and Officers, Risk management Officers, Management executives, Legal, Regulatory, Audit, Law Enforcement representatives, Consultants etc. 

NUMBER OF PARTICIPANTS: limited to max. 12

The webinars will be highly interactive, based on discussions and case studies.


Facilitator: IONUT STOICA – Head of Cybercrime Academy, CEPOL

Presenter/ Trainer/Cybercrime Expert

Ionut is the Head of the Cybercrime Academy within the EU Agency for Law Enforcement Training (CEPOL), being responsible for developing the necessary knowledge and expertise on cybercrime in law enforcement authorities across Europe. Previously, he was involved in capacity building programs aiming at strengthening legislation and institutional capacities on cybercrime as Senior Project Officer within Cybercrime Programme Office of the Council of Europe and also acted as a cybercrime investigator and the Head of the Dept for Combatting Online Frauds and Electronic Payment Frauds, within the Romanian Police, Central Cybercrime Unit having more than 14 years’ experience in the cybercrime field. He is a certified trainer and he has provided seminars for financial sector professionals in Romania and abroad covering Online Money Laundering, Payment Card Fraud, Blockchain and Crypto Currencies and Measures for Combating Financial Criminality. Ionut holds a Bachelor degree in Law from the Police Academy, a Bachelor degree in Communication and Public Relations, from the National School of Political Studies and Administration and a Master’s degree in International Cooperation.


DURATION: 4 hours (net)

LANGUAGE: Romanian (or English at request)

The webinar will be hosted and delivered using ENVISIA Online Platform, allowing the virtual participation, both from home or from work, with no risks associated, using just a browser. After the registration to the course, one day before the webinar took place, the participants will receive a link to access the virtual classroom.

A CERTIFICATE OF ATTENDANCE will be issued by the e-learning platform, after the course.


CONTACT US:

Gabriela HÂRȚESCU, PhD

COO & Dean ENVISIA Business School

Tel: 0040.748.886.800

E-mail: gabriela.hartescu@envisia.eu

EU FUNDS – Financial Programming 2021-2027: Latest developments and opportunities for banks in supporting their clients

– General Framework, Operational Programs, Specific Rules –

  (A 8-hour online series: 2 sessions of 4 hrs. each)         

                                                                                                                                      

FACILITATORS:

George TURTOI – Presenter/Trainer – EU Funds Expert and Director, ARIF

Cristina BELBA – Presenter/Trainer – EU Funds Expert


Since Romania’s accession to the EU, two cycles of financial programming have been completing, respectively: 2007 – 2013 and 2014 – 2020. Currently, the Ministry of Investments and European Projects, through a wide consultation with the representatives of the public administration, the business sector and the civil society, is in process of finalizing the negotiations for the period 2021 – 2027. Also, at the Ministry of Agriculture, the documents (files) of the measures that will benefit from the transition facility in 2021, as well as, the National Strategic Plan are being elaborated.  

At the same time, in the current epidemiologic context, in May 2020, the European Commission proposed the Next Generation EU instrument as part of a large-scale package aimed at reducing the socio-economic impact of the pandemic. Under this instrument, the Recovery and Resilience Mechanism will play the most important role, with a budget over 80 billion EUR to be distributed in the form of grants and loans.

In 2021, the Agency for Financing Rural Investments will launch the projects submission sessions for the transition facility (measures from 2014-2020 Programme, financed trough 2021-2027 funds). The Ministry of Agriculture through the Managing Authority had issued the detailed rules, the eligibility and selection criteria for the transition measures.

The course will introduce the various funds that Romania will benefit from in the next period and will also present: the Recovery and Resilience Mechanism, Policy Objectives, Operational Programs and the National Strategic Plan, the funds management architecture, as well as, the main financing lines for SMEs.

The course will include technical details regarding the projects submission sessions that will take place this year.

By attending this course, the participants will become familiar with the specific terminology, will be able to identify the areas of financing opportunities for SMEs and will be ready to deepen and successfully handle the Operational Programs, the National Recovery and Resilience Plan (PNRR – Planul National de Relansare si Rezilienta a Romaniei) and the Applicant’s Guides.

During the course, in addition to the above topics, the expenses reimbursement mechanism will be presented, based on the current programming period, taking into account that the basic principles are generally valid and applicable.

The lecturers are practitioners and experts in the field of accessing and financing through EU funds.


LEARNING OUTCOMES

  • Understanding the Recovery and Resilience Mechanism
  • Understanding the context of the 2021-2027 EU financial programming
  • Knowing the Policy Objectives of the Operational Programs and the National Strategic Plan
  • Identifying opportunities for banks in supporting their SMEs clients
  • Projects analysis and co-financing by banks
  • Understanding the expenses reimbursement mechanism

CONTENT

  • 2021-2027 Financial Programming Framework: types of funds available/allocated and Policy Objectives

Part I

  • The Recovery and Resilience Mechanism
  • Operational Programs: financial allocation, intervention lines for SMEs, institutional architecture of the program management
  • From the project idea to the submission of the funding application
  • Estimating the budget and ensuring the co-financing
  • Projects’ analysis and evaluation for granting non-refundable financing
  • The expenses reimbursement mechanism
  • Project implementation and results monitoring

Part II

  • Financing SMEs in rural areas starting 2021: the Transition Facility and the National Strategic Plan 2021-2027
  • Detailed rules, eligibility and selection criteria for 2021 projects submission sessions
  • Project elaboration and the submission of the funding application
  • How banks ensure the co-financing, SMEs loans guaranteeing
  • Projects’ analysis and evaluation for granting non-refundable financing
  • Project implementation and the expenses reimbursement mechanism
  • Results monitoring

TARGET AUDIENCE:  From Banks: Relationship Managers for SMEs; Financial Analysis, Lending, Risk Management, Audit and Internal Control specialists and managers; EU projects managers and administrators; etc. The course is also of interest for SMEs representatives, consultants, advisors and any professional or entrepreneur interested in accessing EU funds.

NUMBER OF PARTICIPANTS: limited to max. 12

The webinars will be highly interactive, based on discussions and case studies.


Facilitator: George TURTOI

Presenter/Trainer – EU Funds Expert, Director – The Agency for Rural Investments Financing

George has over 15 years of experience in the field of EU funding programs – within the Ministry of Agriculture and Rural Development or within its various subordinating institutions -, in managerial positions: head of dept., general manager, State Secretary etc., being responsible with the implementation of the EU funds in agriculture, rural development, fishery and maritime affairs. Currently, he is the Director of the Dept. for Financing Rural SMEs for Non-Agriculture Investments in the National Program for Rural Development at The Agency for Rural Investments Financing, ARIF (AFIR – Agentia pentru Finantarea Investitiilor Rurale). George is often invited as speaker at relevant conferences and events on accessing, implementing and monitoring EU funding programs and he is also giving lecturers and seminars on these topics.

Facilitator:  Cristina BELBA

Presenter/Trainer – EU Funds Expert

Cristina has over 18 years of experience in the EU funded projects, having held various positions in companies and public authorities, being responsible with the development and implementation of the EU projects. Currently, she is expert in an EU technical assistance project for the Romanian Authority for Digitalization, RAD (ADR – Autoritatea pentru Digitalizarea Romaniei), having the role to support public institutions in defining project ideas, drafting the funding and implementation applications for Operational Competitiveness Program 2014 – 2020, Axis 2 – Information Technology and Communication. Throughout her career, Cristina has been giving presentations and semninars for various national and international organizations.


DURATION:  8 hours (net) – 2 sessions of 4 hrs. each 

LANGUAGE: Romanian (or English at request)

The webinars will be hosted and delivered using ENVISIA Online PlatformPowered by KNOLYX, a secured e-learning platform, allowing the virtual participation, both from home or from work, with no risks associated, using just a browser. After the registration to the course, one day before the webinars took place, the participants will receive a link to access the virtual classroom.

A CERTIFICATE OF ATTENDANCE will be issued by the e-learning platform, after the course.


CONTACT US:

Gabriela HÂRȚESCU, PhD

COO & Dean ENVISIA Business School

Tel: 0040.748.886.800

E-mail: gabriela.hartescu@envisia.eu

UNCONVENTIONAL LEADERSHIP IN UNCONVENTIONAL CRISES

– “All the world’s a stage” (William Shakespeare from As You Like It) – 

(A 4-hour online series)

Facilitator: ANCA SIGARTAU, PhD

ACTRESS, THEATER DIRECTOR and PROFESSOR, Drama and Theatre Arts department at universities in USA and Romania

Anca SIGARTAU, PhD is a Romanian actress, theater director, play writer, musician and drama professor. She holds a PhD in Performing Arts, a Master Degree in Theater Directing and a Bachelor in Arts from the National University of Theater and Film I.L. Caragiale Bucharest. She studied classical piano and canto at George Enescu Music Academy Bucharest. As an actress, Anca won various awards, such as: Best actress –Young actors Gala; Best comedy actress (for Puck/A midsummer night’s dream) – Critic’s Awards; Best performance – Augusta, Georgia, United States (for The Forces of Light); Best performance – I want to be an actress at Undercloud Independent Theater Festival; Composition Jury Award – Mamaia Music Festival. She also has an extensive experience as a professor of Drama and Theater Arts at universities in USA and Romania.


Unusual times call for unusual leadership!

An adaptive and positive leadership determines the success of a company during times of crisis, such as the complex, multi-dimensional Corona Pandemic, as well as the recovery in the aftermath of the crisis.

The course proposes an unconventional approach to build the new facets of the leadership

GOOD LEADERS – GOOD ACTORS

Good leaders need to be proficient in what’s called situational leadership. What does leadership truly means? Well, plain and simple, it means having the skills and understanding to assess the scenario you’re facing. Actually, an efficient leader will be a superstar for his team. A good performer.

“Theatre is the mirror up to nature” (William Shakespeare[1] from Hamlet)

This is the starting point – and perhaps the magic formula that can give us the ability to understand both: theatre and reality… .This is the basic of my unconventional leadership course. Consists of mirroring “nature” in theatre, understanding “nature” with theatre’s tools – in our case, mirroring the human nature and our way of being in a new field of action – the leadership. Translate this into business language – which I am sure you’re all too familiar with, and this is what you’ll get: the ability to turn our actions into a successful way of leading. The reaching goal is to offer an image of what our actions may impact and how it can improve our reality

An unconventional leadership course is about using the specific acting tools to increase your leadership skills in an attractive wayHow to empower your speech in order to obtain a bigger impact? How to think your strategy in order to make a difference? 

Good leaders are good actors because they know how to adapt their leadership style. They can mask fear, panic and worry with a great sense of self-confidence both in themselves as well as in those they must inspire and motivate. Ironic but true, good acting is one of the strategies good leaders use to communicate with credibility, build trust among their people and motivate others.

Good actors know that when it comes to delivering a message, 7 percent of it is the content of the message itself, 38 percent is your tone of voice and 55 percent is about the visual presentation, which includes a self-confident persona. Therefore, how you sound, look and carry yourself makes up 93 percent of what goes into being an effective communicator—a critical component to leadership success.Good leaders possess key characteristics that are, essentially, the qualities of a great leader. In addition to confidence, there are other attributes of leadership, including clear vision, integrity, empathy, sense of humor, humility, passion, courage, style and the ability to recognize potential in others, develop trust and encourage excellence.

LEARNING OUTCOMES / What we aim to achieve

  • Ways of improving the impact of your actions
  • The management of emotions
  • A high-level vision – a true connection
  • Being a good “detective”
  • The right mindset, the right tools, the right skills in a perfect time
  • Creating a dream-team
  • Impact

 TARGET AUDIENCE: top and middle managers, team leaders, business owners


CONTENT

  • CHARACTERS and LANGUAGE: studying different types and ways of characterizations, body language, masque, roles
  • IMAGINARY, DEVELOPING IMAGINATION and CREATIVITY: the best leaders worldwide are the creative ones. Creativity is about courage. Finding new inner mechanisms for exploring new paths, the one you ignored because the formal education taught you is not the common path for everybody.
  • WAYS of CREATING and DEVELOPING a DREAM-TEAM: a good leader will make a good “cast” and a good cast will make great performances. Improvisation games – characters – situations.

The webinars will be highly interactive, based on discussions and examples.


TARGET AUDIENCE: Top and middle managers, team leaders, business owners 


NUMBER OF PARTICIPANTS: limited to max. 12


The webinars will be hosted and delivered using ENVISIA Online Platform, Powered by KNOLYX, a secured e-learning platform, allowing the virtual participation, both from home or from work, with no risks associated, using just a browser. After the registration to the course, one day before the webinars took place, the participants will receive a link to access the virtual classroom.

DURATION: 4 hours (net)                                                       

LANGUAGE: Romanian (or English at request)

A CERTIFICATE OF ATTENDANCE will be issued by the e-learning platform, after the course.


CONTACT US:

Gabriela HÂRȚESCU, PhD

Dean & COO ENVISIA Business School

Tel: 0040.748.886.800

E-mail: gabriela.hartescu@envisia.eu

[1] I’m sure that if I will say “Shakespeare” most of you will immediately think of the famous playwright. What if I would tell you that Shakespeare were a businessman as well as an artist … . Throughout his career in London’s theatrical world, he prospered. By the early 1600s, he was able to buy land near his Stratford home by the hundreds of acres and purchase the family coat-of-arms that his father had longed for. Yes. Though he was not considered by his university, wits competitors, an important creator, he was able to “sell” and make a lot of money. Call it a business strategy, call it pure literary genius, at the end his “magical words” prevailed and he is a top seller, even today. 

INVESTOR RELATIONS – A PRACTITIONER’S GUIDE

(A 4- hour online series)                                     

Webinar ENVISIA – Boards of Elite – Business School in partnership with ARIR – Romanian Investors Relations Association

                                                                                                                                               

Facilitator: CHRIS ANSELL, CFA 

Experienced Investor Relations Manager, Senior Equity Analyst in top financial centres: London and New York 


The purpose of the course is to provide an understanding of what the investment community expects and how the IR (Investor Relations) – as front-line officer of the company – could deal and address these expectations. The day offers a structured overview of key aspects of investor relations, including finance, marketing and communication by covering: regulation compliance and disclosure practice, benchmarking techniques, key valuation methods, rating agencies approaches, potential misalignment between management and potential investors and analysts, best practices in critical aspects of the day-to-day IR role.


LEARNING OUTCOMES

  • What are the key functions in Investor Relations?
  • Key skills in managing results presentations
  • Preparing your Executive team for investor meetings
  • Benchmarking your company against its peer group
  • Managing consensus without breaking the rules
  • Keeping your Executive Team informed of financial stakeholder views
  • Factors in deciding on your dividend policy
  • Understanding how investor valuation methodologies use your information
  • Investor Risk appetite
  • Understanding how Bond rating agencies rate companies
  • Complying with exchange listing requirements
  • Romanian perspective/insights – Romanian Guest speaker sharing insights
  • Speak a common language

CONTENT

  • IR fundamentals: function, roles & responsibilties 
  • Investors characterization of companies 
  • Comparing your company against your peer group: case study 
  • Determining what your investors expect, and what will happen to your share price if you disappoint them 
  • Setting expectations and guidance 
  • Working with analysts – carrots, not sticks; speaking a common language
  • Dividend Policy – how to decide on your level of dividend 
  • When to consider a share buy-back 
  • Managing bad news: case study 
  • Bridging the valuation gap – why isn’t your share price where you think it should be, and what to do about it: case study 
  • Trends noticed in conjunction to IR role: lines of reporting/authority, expectations from the role, career path, training needs/qualifications available 
  • Impact on/interaction with Board example of successful companies-as result of successful IR function  

KEY CONCEPTS

  • Managing Investor meetings
  • Communicating strategic initiatives: Mergers + Acquisitions, new initiatives 
  • Determining and managing consensus expectations
  • Complying with regulations 
  • Interpreting changes in your shareholder register 
  • Preparing your Executive Team
  • Active v. passive investors  
  • Communicating investor views and expectations into the company
  • Working with analysts 
  • Investor Relations as part of the integrated company communications plan 

TARGET AUDIENCE:   Mid to Senior level Managers, Investor Relations professionals, Chief Financial OfficersConsultants 

NUMBER OF PARTICIPANTS: limited to max. 20

The webinar will be highly interactive, based on real examples and case studies. 

Facilitator: CHRIS ANSELL, CFA 

Experienced Investor Relations Manager, Senior Equity Analyst in top financial centres: London and New York 

Chris Ansell has many years’ experience of Equity Markets in London and New York from his time as Investor Relations Manager in BT, the UK telecommunications company, and as senior Equity Analyst at Nomura. He is now Course Director of MSC Global Finance at Coventry University London, a Visiting Fellow at Cranfield University, consults to companies on equity markets, and is a CFA instructor to clients in Asia, Europe and North America.  Chris holds an MA in Natural and Electrical Sciences from Cambridge University, MSc in Telecommunication and Information Systems from Essex University, MBA from Cranfield University, is a CFA Institute Charterholder, and a Senior Fellow of the Higher Education Academy. 


The webinars will be hosted and delivered using KNOLYX platform, a secured e-learning platform, allowing the virtual participation, both from home or from work, with no risks associated, using just a browser. After the registration to the course, one day before the webinars took place, the participants will receive a link to access the virtual classroom.   

DURATION: 4 hours (net)

A CERTIFICATE OF ATTENDANCE will be issued by the e-learning platform, after the course.


CONTACT US:

Gabriela HÂRȚESCU, PhD

COO & Dean ENVISIA Business School

Tel: 0040.748.886.800

E-mail: gabriela.hartescu@envisia.eu

Chartered Institute for Securities and Investment (CISI) in partnership with Envisia – Business School (EBS)

are inviting you to an educational premiere in Romania:

INTEGRITY AND ETHICS AT WORK IN FINANCIAL SERVICES

– Course and Assessment –

                                                                                                                                                                                           


The Chartered Institute for Securities & Investment (CISI) is the professional body of choice for the financial services profession and the leading professional body for securities, investment, wealth and financial planning professionals worldwide. The CISI has been dedicated to professionalism since it emerged from the London Stock Exchange in 1992. Currently, the CISI counts over 44,000 members in over 100 countries. 

Envisia Business School (ENVISIA) is a business organization delivering state of the art education, to support human and professional growth of elites and nurture a business environment that generates economic and social progress in the long run. This responsibility starts with education and ends with ethics.


COURSE OVERVIEW

Integrity and Ethics are core values of professionalism in financial services. Professionals within financial services owe important duties to their clients, the market, the profession and society.     

This unique tool Integrity and Ethics at Work in Financial Services: course and assessment provides financial institutions with a practical way to highlight to their employees the importance of understanding and practicing the integrity and ethics principles when performing their day-to-day activities.  

On completion of the course, the participants will be able to identify ethical behavior and to act with integrity at the workplace.


STUDY MATERIALS:

The study materials consist of a suite of three documents:

a. Integrity at Work in Financial Services – A Practical Guide to Trust and Integrity Dilemmas (vol. 5 – 78 pages), published by CISI – ISBN: 978-1-910590-28-7 (78 pages). The series guides the readers through various situations and dilemmas offering potential correct course of action and thus building integrity and ethics principles by practical examples.

  • Ethics and the City
  • Mixed Messages
  • Central Casting
  • Personal Favors
  • Pushing the Envelope
  • On Expenses
  • Pile of Problems
  • Acts of Charity
  • Hire Purpose
  • Guilt by Association
  • Question Time
  • A Puff of Smoke
  • Shock and Awe
  • Investing in Integrity

b. GFCI Report – The Global Financial Centres Index 29 (March 2021): the Index serves as a valuable reference for policy and investment decisions and provides evaluations of competitiveness and rankings for the major financial centers around the world. 

  • Leading Centres
  • Areas of Competitiveness:
    • Business Environment
    • Human Capital
    • Infrastructure
    • Financial Sector Development
    • Reputation
  • Government Effectiveness and Financial Secrecy
  • Industry Sectors
  • Anti Money Laundering
  • FinTech

c. Edelman Trust Barometer 2021: is an online trust and credibility survey conducted in 28 markets, between October 19 and November 18, 2019. Edelman has studied trust in four institutions – media, business, NGOs and governments – around the world and these deep insights have allowed the identification of early signals of seismic shifts in culture and society.

  • The Evolution of Trust
  • A Growing Sense of Inequity
  • Fears Eclipse Hopes 
  • Trust is Built on Competence and Ethics
  • Competence is Not Enough
  • Business Catalyst of Change
  • The Opportunity for Government: Partnership
  •  The Necessity of Action

II. INTERACTIVE WORKSHOP:

This distinctive workshop is delivered around the world and tackles real-life ethical challenges in the workplace, offering participants the opportunity to vote anonymously on how they would act before the challenges are explored and debated in an open and honest environment. 

By attending the workshop, the participants are introduced in the assessment test expectations, challenges and practical approach. 

The online workshop duration is 2 hours and a CISI UK expert facilitates it.


COURSE ASSESSMENT:  

IntegrityMatters is an online test based on dilemmas, which practitioners may face at work.   

Pass mark: 19 out of 24

Pass rate: 87%

The reviewing of the study materials and the participation at the workshop are compulsory before taking the final test: IntegrityMatters.   

Successful candidates meeting the pass mark/pass rate criteria will receive a digital certificate issued by CISI, stating the completion and the passing of the IntegrityMatters test. 

By completing the test, practitioners will be encouraged to think about how to act with integrity and be able to recognize situations and determine how best to respond.


BENEFITS

Based on the educational partnership between CISI and ENVISIA, a unique opportunity is granted to the IntegrityMatters certificate holders: 1-year FREE CISI Affiliate membership (membership valid until 31st March 2022)

CISI membership benefits for affiliate members grant access to various resources that are tailored for financial professionals to ensure they can maintain a high standard of knowledge, excel in their role and do their best job for their bank/company.

Professional benefits are the following:

  • CPD scheme and access to virtual CPD events
  • CISI TV
  • Membership privileges and badges
  • Professional Refresher eLearning modules
  • Members’ Magazine The Review (including accessing GreyMatters – further ethical dilemma scenarios with the rationale)
  • Professional Forums
  • Training & Competence Interests Groups
  • Invitation to the CISI Annual Integrity Debate

CONTINOUS PROFESSIONAL DEVELOPMENT

During the 1-year complimentary CISI Affiliate membership, the participants may further develop professionally through other Professional Refresher eLearning modules on integrity and ethics:

  • Artificial Intelligence
  • Behavioural Finance
  • Conduct Risk
  • Conflicts of Interest
  • Ethical Sustainable Investment
  • Integrity and Ethics
  • Problem Solving
  • Treating Customers Fairly
  • Vulnerable Clients

All Professional Refresher modules contain online multiple-choice assessment and a digital certificate can be printed upon successful completion.

Thus, the banks/companies are assuring the continuous professional development of their staff for one year after the course completion! During the 1-year FREE CISI Affiliate membership, the successful participants of the course & assessment could be asked to provide further certificates of completion of the Professional Refresher modules (no further fees are applicable). 


COURSE DATES AND DURATION

The course duration is 6 weeks, from May 24 to July 2, 2021, as follows: 

Weeks 1 – 4 (May 24 – June 20): individual study of the recommended materials

Week 5 (June 21 – 27): Online interactive workshop – facilitated by a CISI expert, on June 23, 2021; from 10:00 to 12:00 am  

Week 6 (June 28 – July 2): Integrity Matters test – online, on the CISI website & 1-year free CISI Affiliate membership

The Integrity and Ethics at Work in Financial Services – course and assessment – can also be provided as an in-house course, your bank/company benefitting from: flexibility, team building, time management and cost-efficiency.  

No. of participants: 20 candidates/session

LANGUAGE: English


CONTACT US:

Gabriela HÂRȚESCU, PhD

COO & Dean ENVISIA Business School

Tel: 0040.748.886.800

E-mail: gabriela.hartescu@envisia.eu

ENVIRONMENTAL, SOCIAL AND CORPORATE GOVERNANCE (ESG) – NEW DISCLOSURE RULES FOR FINANCIAL SERVICES INDUSTRY (FSI) STARTING MARCH 2021

(A 8-hour online series: 2 sessions of 4 hrs./day)

                                                                                                                                                                                                                         

FACILITATOR:

Bruce Gahir, CIMA  – Presenter/Trainer, Board Member of the ACCA Global Ethics Forum, Senior Lecturer & Associate Head of Finance and Accounting Dept, Prague College


These new ESG initiatives seek to direct investment flows to issuers and sectors with more sustainable business and operational models, and to place ESG at the forefront of the investment process, alongside returns

The new disclosure requirements for investment managers and advisers with respect to their environmental, social and corporate governance (ESG) policies will apply in the European Union from 10 March 2021. New climate-related disclosures will apply to investment managers in the United Kingdom under a UK disclosures regime that is expected to be phased in from 2022. Although the finer details implementing the new frameworks have not yet been finalised, it is clear that the EU and the UK have ambitious plans for enhancing ESG disclosure in the financial sector.

The new rules are part of the EU’s Sustainable Finance Action Plan and the European Green Deal, which seek to transition the EU to a more resource-efficient and sustainable economy, and to build a financial system that supports sustainable growth. The new rules will form part of the “Green Finance Strategy” and the “Roadmap towards mandatory climate-related disclosures”. These requirements are complementary to the disclosure requirements regarding governance and shareholder engagement introduced by the second Shareholder Rights Directive, and echoed in the revised Stewardship Code. These initiatives seek to direct investment flows to issuers and sectors with more sustainable business and operational models, and to place ESG at the forefront of the investment process, alongside returns.

This online course will offer participants an understanding of these new ESG initiatives with a particular focus on the reasons behind their introduction and possible methodologies of implementation.


LEARNING OUTCOMES

  • Understand the reasons that underpin the new proposed ESG disclosure rules for 2021.
  • Understand the scope of these new ESG rules and the role of investment/finance managers.
  • Understand the possible consequences and different approaches that could be adopted in their implementation.
  • Gain insight and planning into best practices in ESG reporting and assessment.

CONTENT

I. What are the new EU ESG Disclosure requirements?

1. Structure of the new ESG disclosure requirements

  • Background to the rules
  • Shareholder engagement
  • What changes are required

2. Implementation and scope of the new ESG disclosure requirements

  • When do the new rules apply?
  • Which investment managers are in-scope of these new rules?
  • What are the new EU requirements?
  • Next steps…

II. Sustainable finance and the implementation of the new ESG Disclosure requirements

1. Sustainability risk in investment decision-making

  • What factors need to be considered for sustainability risk due to the new ESG disclosures?
  • Changes to the obligations of investors and asset managers

2. How to prepare for the implementation of the new ESG disclosure requirements

  • Key disclosure requirements
  • Pre-contractual disclosure requirements
  • Website disclosures
  • Detailed guidance and checklist for asset managers
  • Examples

TARGET AUDIENCE:  Directors and Managers of Investment and Risk Management and any Stakeholder with an interest, implementation or responsibility in the areas of ESG. Specific titles and functions that are of particular relevance include: ESG Management Strategies, ESG Implementation in the Financial Sector, ESG Disclosure Management Regulatory and Economic Capital, Finance and Treasury, Regulation & Compliance, Internal Control, Audit, Financial Institutions Advisory, Bank Supervision and Regulation, Sustainable Financial Stability and Economic Analysis. etc.

NUMBER OF PARTICIPANTS: limited to max. 12

The webinars will be highly interactive, based on discussions and case studies.


Facilitator: Bruce Gahir, CIMA

Presenter/Trainer, Board Member of the ACCA Global Ethics Forum, Senior Lecturer & Associate Head of Finance and Accounting Dept, Prague College

After graduating from University of London, Bruce first worked in the international banking environment before diverting to the study of philosophy and teaching at Prague College. He is currently Associate Head of the Schools of Business, as well as a Principal Lecturer in both schools, where he teaches Financial Accounting, Business Ethics with Corporate Governance and Business Strategy.

Bruce’s research interests are in the areas of Virtue Ethics, Finance, and Business Strategy. Currently his research focuses on Business Ethics with a special interest in decision-making models using the framework of Virtue Ethics. Other areas of interest, together with those of Head of School Stefano Cavagnetto, are to do with Portfolio Theory, CAPM, algorithmic trading, behavioural finance, and efficiency of financial markets.

Bruce holds MSc in Applied Mathematics from the University of London, Queen Mary College, MPhil in Philosophy (Business Ethics), and BA (Hons) in Philosophy from the University of London, Birkbeck College as well as BSc (Hons) in Mathematics/Physics from the University of London, Bedford College. He also holds CIMA Qualification from the Chartered Institute of Management Accountants and PGCE – Postgraduate Certificate in Education from the UK Department of Education. He has also completed the Fintech Programme at the University of Oxford’s Said Business School.

Currently he is a Board Member of the ACCA Global Ethics Forum.


DURATION:  8 hours (net) – 2 sessions of 4 hrs. /day

LANGUAGE: English

The webinars will be hosted and delivered using ENVISIA Online PlatformPowered by KNOLYX, a secured e-learning platform, allowing the virtual participation, both from home or from work, with no risks associated, using just a browser. After the registration to the course, one day before the webinars took place, the participants will receive a link to access the virtual classroom.

A digital CERTIFICATE OF ATTENDANCE will be issued under the aegis of ENVISIA – Business School & IASE – International Association for Sustainable Economy.


CONTACT US:

Gabriela HÂRȚESCU, PhD

COO & Dean ENVISIA Business School

Tel: 0040.748.886.800

E-mail: gabriela.hartescu@envisia.eu

OPERATIONAL RISKS ASSESSMENT AND BUSINESS CONTINUITY MANAGEMENT – How They Are Connected

  (A 8-hour online series: 3 sessions)         

                                                                                                                                                                                                                          

FACILITATORS:

Adrian Codirlasu, PhD, CFA – Presenter/Trainer/Assoc. Prof. – Vicepresident AAFBR, Vicepresident of the CFA Society Romania, member of ACI Romania

Adrian Baciu, PhD – International Consultant/Presenter/Trainer/BCP Coordinator – Country Corporate Security Officer, Vienna Insurance Group SA Romania


As the coronavirus spreads across the globe, banks and financial institutions must assess the risks of the pandemic & post-pandemic and how they build effective business continuity plans and resilience.

Business continuity management covers infrastructure, cyber, employee, business, operational and communication risks, with the aim of managing an organisation that has to face new challenges and risks and needs to ensure continuity of its activities. ASIS International defines a disaster as, “an unanticipated incident or event, including natural catastrophes, technological accidents, or human-caused events, causing widespread destruction, loss, or distress to an organization that may result in significant property damage, multiple injuries, or deaths”, while Bussiness Continuity means “a comprehensively managed effort to prioritize key business processes, identify significant threats to normal operation, and plan mitigation strategies to ensure effective and efficient organizational response to the challenges that surface during and after a crisis”, the ultimate goal being the survival of an organization.

This online course takes participants on a deep dive into the methods of building an operational risk management framework, understanding the ISO 22301 and how PDCA-Plan-Do-Check-Act and operating principle of this standard should be applied.


LEARNING OUTCOMES

  • Master the knowledge and practical techniques needed to investigate an operational risk incident
  • Manage the operational risk in long term and in unprecedent situations
  • Understand the importance of BCP and its role in continuous organization management as well as the role BCP plays in building enterprise resiliency
  • Gain insight into best practices in BCP

CONTENT

I. How the Corona pandemic has influenced Operational Risk in financial institutions  

1. Operational Risk Management – essentials 

  • Definition 
  • Operational Risk events 
  • Tools for managing operational risks (operational risks database, risk indicators, operational risk assessments, operational risk scenarios)

2. Emerging Operational Risks – e.g. Corona crisis 

  • Corona crisis as operational risk 
  • Corona crisis impact on operations 
  • Developing operational risks (risk to continuation of activity, cyber-risk)

Examples

II.Business Continuity Planning in a post-Pandemic world    

1.Business Continuity jumpstart in crisis 

  • Context of the business and operational environment, internal and external risk factors 
  • Leadership: specific responsabilities: building defensive capabilities  
  • Interested parties (stakeholder
  • s  individuals or groups) that may be affected by an activity or a decision 

2. How to prepare for  Business Continuity and Plan for Recovery

  • Planning: actions to address the Pandemic crisis risks and opportunities 
  • Supportresources, competence, awareness, communication, documented information 
  • Operationsoperational planning and control, business impact analysis and risk assessment, business continuity strategy and solutions, BCP and Procedures, exercise programme 
  • Performance evaluationmonitoring, evaluation, analysis, measurement 

Examples


TARGET AUDIENCE:  Directors and Managers of Risk Management and any Stakeholder with an interest or responsibility in protecting the organization from the effects of disruptive events. Specific titles and functions that are of particular relevance include: Market Risk Management, Operational risk, Traded Market Risk, Market Risk Modelling, Credit Risk Modelling, Risk Methodology, Risk Analysis, Model Validation, Regulatory and Economic Capital, Implementation of Basel Accords, Finance and Treasury, Regulation & Compliance, Internal Control, Audit, Financial Institutions Advisory, Bank Supervision and Regulation, Financial Stability and Economic Analysis, Security, IT etc.

NUMBER OF PARTICIPANTS: limited to max. 12

The webinars will be highly interactive, based on discussions and case studies.


Facilitator: Adrian Codirlasu, PhD, CFA 

Presenter/Trainer/Assoc. Prof. – Vicepresident  AAFBR, Vicepresident of the CFA Society Romania, member of ACI Romania

Adrian  is a senior banker with 20 years of experience in banking and financial markets. He is a CFA charterholder since 2006 and holds a  PhD  in international finance.  Adrian have 5-year experience as a Senior Options Dealer with ING Bank where he helped started the bank  derivatives  business in Romania and over 8 years experience in  risk  management  (market, liquidity, operational, reputational and credit risk). Previously, he has been a Senior Economist in the Research Dept. of the National Bank of Romania for about 6 years. Adrian is also an Associate Professor with DOFIN – Doctoral School of Finance,  ASE. Between 2011 – 2013, Adrian was the President of the Association of Financial-Banking Analysts in Romania and for the last 13 years Adrian  has  been  a member of the CFA Romania Board of Directors, as well as the association’s President for seven years. 

Facilitator:  Adrian Baciu, PhD 

International Consultant/ Presenter/Trainer/BCP Coordinator –  Country Corporate Security Officer, Vienna Insurance Group SA Romania 

Adrian is a former superior officer within the Ministry of Interior and he holds a PhD in military science  Bioterrorism and Law Enforcement. He graduated FBI Academy, specialized in combating organized crime and terrorism. He taught crisis management courses for Business and Administration Faculty and led for 4 years the International Bioterrorism Prevention Programme for Interpol, teaching international classes on bioterrorism prevention and response, being point of contact for cooperation with  WHO, WCO,  UN. He was also trainer for International Atomic Energy Agency  and lecturer for International and National Economy University in Sofia. Curently he is Country Corporate Security Officer and Country BCP Coordinator for Vienna Insurance Group companies in Romania. 


DURATION:  8 hours (net) – 3 sessions

LANGUAGE: Romanian (or English at request)

The webinars will be hosted and delivered using ENVISIA Online Platform, allowing the virtual participation, both from home or from work, with no risks associated, using just a browser. After the registration to the course, one day before the webinars took place, the participants will receive a link to access the virtual classroom.

A CERTIFICATE OF ATTENDANCE will be issued by the e-learning platform, after the course.


CONTACT US:

Gabriela HÂRȚESCU, PhD

COO & Dean ENVISIA Business School

Tel: 0040.748.886.800

E-mail: gabriela.hartescu@envisia.eu

MANAGING ANTI-MONEY LAUNDERING IN THE NEW LEGISLATIVE FRAMEWORK: A PRACTICAL APPROACH

(A  4-hour online series) 

Facilitator: DANIEL MARIUS STAICU 

Presenter/ Trainer/Evaluator MONEYVAL Committee CoE    


Risks of money laundering and the financing of terrorism remain a major concern for the integrity of European Union’s financial system and the security of its citizens. Over time, the Union has developed a solid regulatory framework for preventing money laundering and terrorist financing, in line with international standards adopted by the Financial Action Task Force, FATF-GAFI. But, the regulatory framework needs to keep pace with the increasing integration of financial flows in the internal market, the evolving trends, technological developments and the ingenuity of criminals to exploit any gaps or loopholes in the system. 

In Romania, the fight against money laundering and terrorist financing is a continuous task underpinned by a regulatory framework that requires regular updates to keep pace with new developments. Much has been achieved to improve the existing framework, particularly through the major legislative changes that occurred in 2019.    


LEARNING OUTCOMES

  • Understand the EU and international AML/CFT system and stakeholders
  • Better understand and apply the current Romanian legislation
  • Awareness of the obligations of reporting entities
  • Understand the financial behavioral changes and challenges that occurred during COVID 19 pandemic

 CONTENT 

  • EU legislation – 4th and 5th AMLDs, directive on combating money laundering by criminal law, directive facilitating the use of financial and other information;
  • FATF/GAFI Recommendations
  • EU AML Action Plan 2020
  • EBA – response to EU AML Action Plan 2020
  • Romanian legislative framework – overview, evolution
  • Reporting entities – obligations
  • COVID19 – changes and challenges in AML/CFT
  • Study Case

TARGET AUDIENCE: AML & Compliance Managers and Officers, Risk management Officers, Management executives, Legal, Regulatory, Audit, Law Enforcement representatives, Consultants etc. 

NUMBER OF PARTICIPANTS: limited to max. 12

The webinars will be highly interactive, based on discussions and case studies.


Facilitator: DANIEL MARIUS STAICU 

Presenter/ Trainer/Evaluator MONEYVAL Committee CoE    

Daniel is an accredited trainer in various fields, an evaluator of competencies and last but not least, an evaluator of the Council of Europe (CoE) – MONEYVAL Committee in assessing the compliance of Member States’ AML/CFT systems with international standards and recommendations for the 5th Round of evaluations. He was head of Romanian FIU for almost three years, a position from which he was involved in coordinating risk, operational and strategic analysis, enforcing the law in the field of AML / CFT and international sanctions and coordinating the transposition of European laws into national legislation. This position followed more than 20 years of experience in the structures of the frauds investigation police, where he held various management positions. 


DURATION: 4 hours (net)

LANGUAGE: Romanian (or English at request)

The webinars will be hosted and delivered using ENVISIA Online PlatformPowered by KNOLYX, a secured e-learning platform, allowing the virtual participation, both from home or from work, with no risks associated, using just a browser. After the registration to the course, one day before the webinars took place, the participants will receive a link to access the virtual classroom

A CERTIFICATE OF ATTENDANCE will be issued by the e-learning platform, after the course.


CONTACT US:

Gabriela HÂRȚESCU, PhD

COO & Dean ENVISIA Business School

Tel: 0040.748.886.800

E-mail: gabriela.hartescu@envisia.eu

INTEREST RATE RISKS MANAGEMENT IN BANKING BOOK FROM BASEL 4 PERSPECTIVE

  (1-day online course)         

                                                                                                                                                                                                                          

FACILITATORS:

Adrian Codirlasu, PhD, CFA – Presenter/Trainer/Assoc. Prof. – Vicepresident AAFBR, Vicepresident of the CFA Society Romania, member of ACI Romania

Laurentiu Mihailescu, PhD – International Consultant/Presenter/Trainer – Senior Expert ALM & Treasury, Big4


Interest rate risk arising from non-trading book activities is an important financial risk for credit institutions, which is heavily scrutinized by regulators through Basel 4 package and included also in the European legislation through EBA guidelines. The supervisory framework requires that banks implement and develop their own methodologies and processes for identification, measurement, monitoring and control of this risk.

This course provides a practical view in implementing and management of the interest rate risk in the banking book, doubled by a comprehensive overview of the current regulations and legislation at the European level (CRD V and CRR II) always keeping a touch point with the overarching BCBS framework. These requirements will be presented from the industry best practice point of view and also will introduce details of other regulatory initiatives that are impacting interest rate risk management in the banking book (Fundamental Review of Trading Book and liquidity risk management).

IRRBB – Interest Rate Risk in the Banking Book refers to the current or prospective risk to the bank’s capital and earnings arising from adverse movements in interest rates that affect the bank’s banking book positions. Interest rate changes will influence both the value and possibly timing of future cashflows. Consequently, management of interest rate in the banking book is focused along two axes: economic value and earnings. Excessive unmanaged interest rate risk could be a significant threat to value of the franchise, capital base and future earnings.

This online course takes participants on a deep dive into the theoretical as well as practical aspects of managing interest rate risk within the banking book and based on the practical experience of the facilitators will enable a fresh view as well as a benchmark to industry best practice.


LEARNING OUTCOMES

  • Understand the importance of the IRRBB framework within Basel 4 overall framework;
  • Master the knowledge and practical techniques needed to manage interest rate risk in banking book;
  • Understand the key financial concepts to calculate the interest rate risk exposures;
  • Gain insight into best practices in hedging this risk.

CONTENT

I. Introduction to interest rate risk management in banking book (IRRBB)

1. IRRBB – essentials

  • Definition
  • Basel 4/ CRD V&CRR II overview
  • Baking vs trading book split
  • Framework for managing IRRBB (risk indicators, required risk framework and infrastructure, risk scenarios)

2. Measurement of IRRBB

  • Economic perspective : EVE1/EVE@Risk and NPV2/NPV@Risk
  • Profitability perspective: NII3 and NII@Risk;
  • Mathematical notions: yield curve, forward rates, bootstrapping, discount factors, yield curve add-ons

Examples 

3. Internal approach for managing IRRBB

  • Building a good framework to manage interest rate risk in the banking book;
  • Internal stress test scenarios – parallel and non-parallel;
  • Treatment of non-maturing positions

Examples 

4. Hedging the interest rate risk

  • Hedging alternatives in the market (bonds, derivatives, alternative operations) ;
  • Building a strong Risk Appetite Statement matrix;
  • Additional key factors to manage (model risk, convexity risk, yield curve current and future shape)

Examples

5.IRRBB future developments

  • Introduction of credit elements;
  • Pillar 2 capital for IRRBB;
  • Count for more behavioural optionalities;
  • Stress test for IRRBB;

NB: EVE – Economic Value of Equity, NPV – Net Present Value, NII – Net Interest Income


TARGET AUDIENCE:  Directors and Managers of Risk Management and any Stakeholder with an interest or responsibility in managing balance sheet development and planning. Specific titles and functions that are of particular relevance include: Market Risk Management, Trading Market Risk, Market Risk Modelling, Credit Risk Modelling, Risk Methodology, Risk Analysis, Model Validation, Regulatory and Economic Capital, Implementation of Basel Accords, Finance and Treasury, Regulation & Compliance, Internal Control, Audit, Financial Institutions Advisory, Bank Supervision and Regulation, Financial Stability and Economic Analysis, Security, etc.The webinars will be highly interactive, based on discussions and case studies.

NUMBER OF PARTICIPANTS: limited to max. 12

The webinars will be highly interactive, based on discussions and case studies.


Facilitator: Adrian Codirlasu, PhD, CFA 

Presenter/Trainer/Assoc. Prof. – Vicepresident  AAFBR, Vicepresident of the CFA Society Romania, member of ACI Romania

Adrian  is a senior banker with 20 years of experience in banking and financial markets. He is a CFA charterholder since 2006 and holds a  PhD  in international finance.  Adrian have 5-year experience as a Senior Options Dealer with ING Bank where he helped started the bank  derivatives  business in Romania and over 8 years experience in  risk  management  (market, liquidity, operational, reputational and credit risk). Previously, he has been a Senior Economist in the Research Dept. of the National Bank of Romania for about 6 years. Adrian is also an Associate Professor with DOFIN – Doctoral School of Finance,  ASE. Between 2011 – 2013, Adrian was the President of the Association of Financial-Banking Analysts in Romania and for the last 13 years Adrian  has  been  a member of the CFA Romania Board of Directors, as well as the association’s President for seven years. 

Facilitator: Laurentiu Mihailescu, PhD

International Consultant/ Presenter/Trainer – Senior Expert Treasury and ALM, EY Romania

Laurentiu is a senior expert with relevant international experience in market risk management, treasury and Assets and Liabilities Mangement. He holds a PhD in Risk Management as well as a multiple specialized diplomas in the field. Laurentiu have over 10-year experience as a Head of ALM and Market Risk with ING Bank where he helped implementing risk management for balance sheet in Romania for new universal banking concept and over 15 years experience in risk management (market, liquidity, operational and counterparty risk). Previously, he has been in charge in managing Market, Operational and Counterparty Risk Departments in several banks. Relevant for his experience are also the decisions positions held in many relevant managing committies (ALCO, Strategic Balance Sheet Management, Liquidity Coordinator etc).


DURATION:  8 hours (net)

LANGUAGE: Romanian (or English at request)

The webinars will be hosted and delivered using ENVISIA Online PlatformPowered by KNOLYX, a secured e-learning platform, allowing the virtual participation, both from home or from work, with no risks associated, using just a browser. After the registration to the course, one day before the webinars took place, the participants will receive a link to access the virtual classroom.

A CERTIFICATE OF ATTENDANCE will be issued by the e-learning platform, after the course.


CONTACT US:

Gabriela HÂRȚESCU, PhD

COO & Dean ENVISIA Business School

Tel: 0040.748.886.800

E-mail: gabriela.hartescu@envisia.eu

DIGITAL FINANCE & FINTECH – KEY TOOLS AND SKILLS FOR BANKING AND FINANCE PROFESSIONALS

(A 4-hour online series)

Facilitator: JOHAN WINBLADH, MSc, PhD

International Trainer/ Speaker/ MBA Instructor

Johan Winbladh, PhD has a background from Management Consulting at Ernst & Young (now EY) in Stockholm and other locations in Europe and USA. He is currently an instructor at City University of Seattle/VSM in Bratislava Slovakia and an associate professor at the Wittenborg University of Applied Sciences, Amsterdam, The Netherlands. He also provides corporate seminars for learning and development for top and middle management, covering Strategic Management, Finance and Operations. He is passionate about innovation, Fintech and digitalization. Dr Winbladh has been lecturing in university campuses or giving presentations in high profile conferences, both in Europe and in Asia. His background is from Stockholm School of Economics, one of the premium business schools in Europe, where he earned a Master of Science in Finance and earned his PhD at CityU/VSM in Bratislava, Slovakia.


Digital Finance  includes a variety of products, applications, processes and business models that have transformed the traditional way of providing banking and financial services. To stave off the competition, banks and financial institutions need fintech firms that understand the changing market dynamics and are capable of meeting their digital needs. Partnering with tech companies can give traditional financial firms a much needed boost. Such partnership enable them to focus on their core capabilities and provide customers with the digital benefits they demand. The tech companies have innovation labs that focus on developing tailored solutions through randomised controlled trials (RCTs), for example, adding value propositions and allowing clients to expand into new areas. 

The course covers the current trends in Fintech in relation with the new Digital Finance products and servicesThere are Fintech companies from all around the world in all niches of the Financial Service Industry. Fintech is growing in all user segments and provides solutions for more and more people around the world, for payments, accounting, tax-services, investments, savings etcRegulation is an obstacle for truly global Fintech, but Fintech companies are expanding and becoming familiar with regulations around the world. However, regulators start showing interest in Fintech, and they realize it is about financial engineering that may render regulation useless and lead to new forms of shadow banking. Fintech funding reached 23 billion euro in 2019. The expectation for 2020 (pre Covid19) is over 27 billion euro. Fintech develops threats for traditional banking. Banking-as-a-Service (BaaS) enabled by new Fintech products of Application Programming Interfaces (APIs) easily modifiable to the customers’ needs in creating payment and banking products

LEARNING OUTCOMES

  • Understand the new innovation mindset: banks and financial institutions need  fintech firms that understand the changing market dynamics and are capable of meeting their digital needs 
  • Understand Fintech at the current stage and the present trends of Fintech 
  • Realizing the operational challenges to implement and utilize Fintech effectively 
  • Achieve insight into the future of Fintech 
  • Partnering; understanding the strength of traditional banking and financial service providers partnering with Fintechs 
  • Leverege of resources, and results 
  • Getting to know the tools of Fintech and achieving the knowledge of their usage 

CONTENT

  • Digital Finance – easy access to financial services and improved efficiency of the financial system 
  • Fintech partherships  traditional finance partnering with fintech 
  • Innovations for mobile payment solutions (Go-Pay, Ali-Pay etc.) 
  • Blockchains for safety solutions and audit trail 
  • Personalization with the help of AI and Big-Data  
  • Automated (robotized) processing  
  • Chatbots and conversational interface; 
  • Fintech is for the long-haul, it is not a quick fix 

Key concepts:    Artificial Intelligence (AI); Biometric payments; Blockchain; Chatbot; Comprehensive Credit; Reporting (CCR); Crowdfunding; Cryptocurrency; Digital Wallet; Insuretech; New Payments Platform (NPP);

Open Banking; Robo Advice; Neo Banking; Wearables.

The webinars will be highly interactive, based on discussions and case studies.


TARGET AUDIENCE:   Business Development ExecutivesBusiness Intelligence OfficersData OfficersFinancial AnalystsFinancial Decision Makers in CorporatesInvestment, Commercial and Retail BankersManagement ConsultantsMarketing ManagersOperations ManagersProject ManagersIT personnel 


NUMBER OF PARTICIPANTS: limited to max. 12


  

DURATION:  4 hours (net)

A CERTIFICATE OF ATTENDANCE will be issued by the e-learning platform, after the course.

The webinars will be hosted and delivered using ENVISIA Online Platform, Powered by KNOLYX, a secured e-learning platform, allowing the virtual participation, both from home or from work, with no risks associated, using just a browser. After the registration to the course, one day before the webinars took place, the participants will receive a link to access the virtual classroom.


CONTACT US:

Gabriela HÂRȚESCU, PhD

COO & Dean ENVISIA Business School

Tel: 0040.748.886.800

E-mail: gabriela.hartescu@envisia.eu

INVESTOR RELATIONS – COMMUNICATING YOUR EQUITY STORY

(A 4-hour online series, Advanced Level)

Webinar ENVISIA – Boards of Elite – Business School in partnership with ARIR – Romanian Investors Relations Association

                                                                                                                                               

Facilitator: CHRIS ANSELL, CFA 

Experienced Investor Relations Manager, Senior Equity Analyst in top financial centres: London and New York 


Many companies are struggling to articulate a powerful equity story in front of their investors. That could happen if management is focused on the internal narrative rather than focusing on how it will appear to external financial stakeholders. This is where the role of IR becomes valuable by conveying a story, which will most appeal to investors. A great equity story can be one of your most valuable sales tools when you are speaking to investors and analysts.

Thinking about an IPO, the real competitive advantage of your company will glitter as a red thread in your equity story and through all of your communications.

Your equity story makes it easier for investors to invest in you. That’s why it is important to get it right: simple, memorable and thinking investors first.


LEARNING OUTCOMES

  • The reasons why investors buy equities versus other asset classes
  • Communicating your equity story – what do investors want to see, and what do they not want; repositioning your equity narrative to a changed corporate strategy
  • Benchmarking your company against its peer group-identifying your company competitive advantage/ investment-value proposition
  • Factors in deciding on your dividend policy
  • Why is my share price so low, and what can I do – understanding investor equity valuation methodologies
  • Capital Raising – what is best for us? Rights Issues, placings and debt issues
  • Bond rating agencies-how their view will affect your Equity narrative Communicating bad news – profit warnings and disappointments

LEARNING ACTIVITIES:  participants will have the opportunity to practice presenting the Equity story behind a theoretical company, and receive constructive feedback from an experienced equity analyst.


CONTENT

  • What we actually “sell”: the content of the “story”
  • Attractiveness of equities as an asset class-maybe preparatory work
  • Shareholder clientele and the corporate lifecycle
  • Managing M&A and the investor perception; communicating your new investment proposition
  • How do investors characterize Value companies, Growth companies, and hybrids?
  • Industry sector characteristics
  • Multiple based, dividend based, asset based and cash flow equity valuation; EVA and CFROI 1
  • Valuing complex companies – sum-of-the-parts valuation
  • The drivers of your PE ratio
  • Managing the gap between the market view of you, and your internal narrative; Assessing investor perceptions and expectations and informing the internal audience key topic
  • Advantages and disadvantages of rights issues, equity placings and issuing debt; how will the market react
  • How to communicate a profit warning and other bad news
  • Structure of a successful presentation-key outlines
  • Practice exercise (participants will split into presenters and assessors jury)
  • Insights from Romanian market

KEY CONCEPTS

  • Value v Growth
  • Investor expectations at different stages of the Corporate Lifecycle
  • IBES Consensus and managing market expectations
  • Equity Beta and using the pure-play method for non-listed and pre-IPO companies, systematic + specific risk
  • Valuation Methodologies; PVGO (Present Value of Growth Opportunity)
  • Rights Issues & TERP (Theoretical Ex-Rights Price)
  • Dividend Policy + investor Expectation
  • Shareholder meetings

TARGET AUDIENCE:   Mid to Senior level Managers, Investor Relations professionals, Chief Financial OfficersConsultants 

Pre-reading will be provided to all participants to ensure that those with less experience of Investor Relations and Equities can fully engage with the session.

NUMBER OF PARTICIPANTS: limited to max. 20

The webinar will be highly interactive, based on real examples and case studies. 

Facilitator: CHRIS ANSELL, CFA 

Experienced Investor Relations Manager, Senior Equity Analyst in top financial centres: London and New York 

Chris Ansell has many years’ experience of Equity Markets in London and New York from his time as Investor Relations Manager in BT, the UK telecommunications company, and as senior Equity Analyst at Nomura. He is now Course Director of MSC Global Finance at Coventry University London, a Visiting Fellow at Cranfield University, consults to companies on equity markets, and is a CFA instructor to clients in Asia, Europe and North America.  Chris holds an MA in Natural and Electrical Sciences from Cambridge University, MSc in Telecommunication and Information Systems from Essex University, MBA from Cranfield University, is a CFA Institute Charterholder, and a Senior Fellow of the Higher Education Academy. 


The webinars will be hosted and delivered using KNOLYX platform, a secured e-learning platform, allowing the virtual participation, both from home or from work, with no risks associated, using just a browser. After the registration to the course, one day before the webinars took place, the participants will receive a link to access the virtual classroom.   

DURATION: 4 hours (net)

A CERTIFICATE OF ATTENDANCE will be issued by the e-learning platform, after the course.


CONTACT US:

Gabriela HÂRȚESCU, PhD

COO & Dean ENVISIA Business School

Tel: 0040.748.886.800

E-mail: gabriela.hartescu@envisia.eu

EFFECTIVE PERFORMANCE MANAGEMENT AND BUDGETING FOR MANAGERS

– principles, best practice and application –

(A 8-hour online series: 2 sessions of 4 hrs. each/day)

Facilitator: STEVE WILLIS, FCCA

International Trainer/ Presenter/ Consultant/ MBA Instructor

In today’s volatile business environment, companies need to enhance their performance management processes to meet the high demands placed on management. The budget is a critical planning and control mechanism for managers. Setting performance targets, monitoring performance against those targets, and then evaluating both individual and organizational performance are just some business activities that begin with the budgeting process.

This online course takes participants on a deep dive into budgeting and how budgeting supports the broader discipline of performance management. They will explore the different purposes of budgeting, approaches to preparing budgets, and preparation of budgets using spreadsheet tools. The course facilitator will also introduce the latest developments in budgeting and participants will evaluate how this evolution might help their organization. Budgeting is hence an important tool of performance management, and delegates will look at where budgeting fits in the strategic planning process, and how budgeting is used to control performance.


LEARNING OUTCOMES

  • Understand the importance of strategy and its role in budget creation
  • Gain insight into best practices in budgeting
  • Understand the role of budgets in the management and control processes
  • Prepare a master budget and cascading functional budgets
  • Measure and evaluate performance
  • Create a flexed budget for evaluating short-term performance

 CONTENT 

  • Strategic planning, objective setting, KPI formulation
  • Budgeting and the performance management hierarchy
  • Types of budgets, including fixed, flexible, rolling, zero-based, and others
  • Standard costing, variance analysis and other tools of financial control
  • Different approaches to setting a price for your product or service
  • Alternative view of budgeting

 LEARNING ACTIVITIES

During the course the concepts introduced will be practiced with both interactive and individual activities. The course will also include technical articles and virtual presentations from the leading thought-leaders on performance management and budgeting. Participants will present their work virtually to their colleagues on the course for further feedback and discussion.

PREREQUISITE A basic financial background is compulsory.


TARGET AUDIENCE: Executive and Senior Management Staff, Accountants, Budget and Planning Managers/Officers, Heads of Accounts departments and their Senior Personnel, Auditors, Heads of Strategic Business Units, Performance Monitoring and Improvement Managers, Strategic Planning Personnel, Cost Control Managers and all others whose functional and supervisory role include budgeting, performance management and cost control functions.


NUMBER OF PARTICIPANTS: limited to max. 12

The webinars will be highly interactive, based on discussions and case studies. 


Facilitator: STEVE WILLIS, FCCA

International Trainer/ Presenter/ Consultant/ MBA Instructor

Steve Willis, FCCA is passionate about helping business, banking and finance professionals learn new skills and advance in their careers.  Over the past 15 years, Steve has delivered thousands of days of consulting and training for global organizations such as the Big 4 accountancy firms, multinational companies, shared services centers, USAID, World Bank, ACCA, and many others, and had delivered training courses in over 30 countries across the globe.

Steve specializes in technical training in finance and accounting and in a range of human and people skills, such as change management, performance management, communication, and presentation skills. He holds a FCCA certificate from ACCA.


The course is delivered in-house for a group of participants from the same institution and the content could be customized; the dates for delivery shall be agreed with the client.  

DURATION: 8 hours (net) – 2 sessions x 4 hrs/day – online

The webinars will be hosted and delivered using ENVISIA Online Platform, Powered by KNOLYX, a secured e-learning platform, allowing the virtual participation, both from home or from work, with no risks associated, using just a browser. After the registration to the course, one day before the webinars took place, the participants will receive a link to access the virtual classroom.  

A CERTIFICATE OF ATTENDANCE will be issued by the e-learning platform, after the course.


CONTACT US:

Gabriela HÂRȚESCU, PhD

COO & Dean ENVISIA Business School

Tel: 0040.748.886.800

E-mail: gabriela.hartescu@envisia.eu

FINANCIAL CRIME RISK MANAGEMENT

(A  4-hour online series) 

Facilitator:  MIHAELA-CORINA BOULEANU

Compliance Executive Director, OTP Bank Romania & President of the Compliance Commission – Romanian Banking Association

Mihaela-Corina Bouleanu is currently Compliance Executive Director at OTP Bank Romania SA, having over 16 years expertise in financial-banking area both public and private domain, participating in the implementation of several essential projects regarding the national legal and regulatory framework, facilitating improved operational processes with high level of ethics, optimized “customer centricity” approach, enhanced by a proper risk management. She represents and sustains the Romanian banking system as President of the Compliance Commission – Romanian Banking Association in the process of transposition within state’s authorities’ decision making process – consultations meetings and assemblies in the Romanian Senate and Parliament Chambers’ CommissionsMihaela is an authorized trainer and she has been lecturing the compliance related responsibilities and tasks, providing seminars for learning and development towards professionals,  expertstop and middle management, covering KYC & AML/CFT & International Sanctions, Anti-Bribery & Corruption and Personal Data Protection areas or giving presentations in high profile conferences at the national level.


Financial Crime is a regulatory, reputational, or monetary act or attempt against financial services institutions, corporations, governments, or individuals by internal or external proxies to steal, defraud, manipulate, or circumvent established rules. Out of the various threats to the financial services sector, financial crime risk has emerged as universal, yet widely misunderstood category of risk. As consumers, governments, and the financial industry have gained familiarity with various forms of financial crime, financial services organizations have seen that the underlying risk of financial crimes not only includes the direct action taken by criminals, but also includes the impact of deterrence, detection, and resolution on the organization and its customers. In recent years, the concept of a consolidated and intelligent Financial Crime Risk Management Program has been gaining adhesion among financial institutions both large and small. Moreover, the financial services organizations understood that such Program should not only mitigate the risk of threats to the organization and to its customers, but that it should also provide additional benefits such as operational efficiency and improved customer experience.

Therefore, the financial services institutions should build an effective and comprehensive Financial Crime Risk Management Program, considering specific pillars, that ensures compliance and coverage against threats while also ensuring the necessary resilience to adapt to changes in the market. Such approach shall provide financial services organizations with the means to achieve some of their outmost important goals: improving customer experience, lowering ongoing operational costs, and mitigating risk to the organization as a whole.

LEARNING OUTCOMES

  • Financial Crime awareness – how organisations can mitigate the risks
  • Why a Financial Crime Risk Management Program is necessary
  • Gain holistic view – transparency upon the “big picture”Understand why End-To-End processes must be scrutinized and aligned in order to survive the current age
  • Realise the difficulties of poor automation and the high costs implied (operational, legal, compliance and reputational risks)
  • Avoid loopholes which may potentiate the embodiment of risks
  • Understand the means of building an effective and comprehensive Financial Crime Risk Management Program, in achieving the organization’s goals

 CONTENT 

  • Understanding Financial Crime risks 
  • Strategic Approach to Financial Crime Risk Management 
  • Anti – Money Laundering  
  • Counter Terrorism Financing 
  • International Sanctions & Related Prohibitions 
  • Anti – Bribery and Corruption 
  • Fraud and Market Abuse 

TARGET AUDIENCE: Financial sevices professionals in roles such as: Anti-Financial Crime, Compliance, Legal, Governance, Risk Managers, Internal and External Audit, Law enforcement and Regulators, Professional Advisers. 

NUMBER OF PARTICIPANTS: limited to max. 12

The webinars will be highly interactive, based on discussions and case studies.


The webinars will be hosted and delivered using ENVISIA Online PlatformPowered by KNOLYX, a secured e-learning platform, allowing the virtual participation, both from home or from work, with no risks associated, using just a browser. After the registration to the course, one day before the webinars took place, the participants will receive a link to access the virtual classroom

DURATION: 4 hours (net)

LANGUAGE: Romanian (or English at request)

A CERTIFICATE OF ATTENDANCE will be issued by the e-learning platform, after the course.


CONTACT US:

Gabriela HÂRȚESCU, PhD

COO & Dean ENVISIA Business School

Tel: 0040.748.886.800

E-mail: gabriela.hartescu@envisia.eu

THE INTERNAL CONTROL SYSTEM FOR COMPANIES LISTED AT BUCHAREST STOCK EXCHANGE (OR AIMING AT)  

(A  8-hour online series: 2 sessions of 4 hrs. each) 

Facilitator:  MIHAELA STOICA, ICA, ACI

Consultant/ Trainer

Mihaela has over 20 years of experience in the financial markets; currently she is CEO of the Intercapital Invest SA, a business consulting company and an authorized consultant by the BSE for the SMT market. Previously, she has held various management positions in important banking and capital market institutions. Within the financial market, she has experience in the field of capital market governance and in investment services such as: portfolio management, investment advisory, depository, custody, trading, listing on the BSE quota, financing of companies by issuing shares or bonds. Mihaela is a business consultant and an authorized trainer for banking and capital market. She has a degree in mathematics, a master in International Financial and Monetary Systems – ATTF Luxembourg and holds relevant international professional certifications such as: International Diploma in Compliance (ICA) and ACI Dealing Certificate. 


The companies, as issuers listed on the Bucharest Stock Exchange (BSE), must have a rigorous internal control system consisting of complianceaudit and risk management principles which provides assessment and monitoring mechanisms in accordance with Financial Supervisory Authority (FSA) and BSE standards and also provides specialized advice to the company’s top management in order to achieve its objectives. 

 These standards represent the backbone of a sound corporate governance of a company looking for alternative sources of financing on the capital market. This online course present and explain with examples what the integrated internal control system means and how it leads to the best practices in the corporate governance on the capital market

LEARNING OUTCOMES

  • Understand the organizational requirements of the issuers internal control system 
  • Adopt the requirements for issuers from the perspective of MAD compliance 
  • Align with the best practices of the BSE Corporate Governance Code  
  • Understand the key functions of Investor Relations 

 CONTENT 

  • Organizational requirements of the issuers  internal control system: audit, compliance and risk 
  • Transparency Reports (RM – Regulated Markets / MTF – Multilateral Trading Facility): periodic, continuous and ad-hoc information 
  • Obligations of issuers from the perspective of MAD (Market Abuse Directive) compliance 
    • Identifying inside information in order to disclose it 
    • Preparing the lists of insiders and updating them 
    • Preparation of lists with PDMR (Person Discharging Managerial Responsibilities) and related persons 
    • The obligation to publish the transactions of PDMR (definition of management staff) and of the related persons 
    • The obligation to notify PDMR according to art. 19 of the MAD 
    • Financial calendar 
    • Measures to avoid violation of specific MAD requirements 
  • Issuers compliance with the best practices of the BSE Corporate Governance Code 
  • Implementation program of a Compliance and Audit Assessment  
  • Implementation system of a Risk Assessment within the Internal Control System 
  • Relationship with Investors (IR) 
  • Case Studies 

TARGET AUDIENCE: Top level managers and directors, heads of: compliance, audit, risk, etc.and high level professionals with responsibilities in the relationship with investors, FSA and BSE. 

NUMBER OF PARTICIPANTS: limited to max. 12

The webinars will be highly interactive, based on discussions and case studies.


The webinars will be hosted and delivered using ENVISIA Online PlatformPowered by KNOLYX, a secured e-learning platform, allowing the virtual participation, both from home or from work, with no risks associated, using just a browser. After the registration to the course, one day before the webinars took place, the participants will receive a link to access the virtual classroom

DURATION: hours: 2 sessions of hrs/day – online

LANGUAGE: Romanian (or English at request)

A CERTIFICATE OF ATTENDANCE will be issued by the e-learning platform, after the course.


CONTACT US:

Gabriela HÂRȚESCU, PhD

COO & Dean ENVISIA Business School

Tel: 0040.748.886.800

E-mail: gabriela.hartescu@envisia.eu

THE IMPACT ON THE BUSINESS OF THE NEW STANDARD FOR
LEASE ACCOUNTING (IFRS 16) – A MANAGERIAL PERSPECTIVE

(A 4-hour online course)

Facilitator: MIRELA PAUNESCU, PhD, MBA, FCCA, CIA

Consultant/ Trainer/ MBA & ACCA Instructor

Mirela holds an impressive portfolio of international and national professional qualifications such as: FCCA, CIA, CAFR, CCF and CECCAR along with a solid academic background: a PhD in Accounting from ASE Bucharest and an MBA from Bentley University USA (graduated with High Distinction). She is a highly experienced practitioner, being a partner in a consulting firm. Her main fields of expertise covers: IFRS, Audit, Taxation, Budgeting, Business Planning, etc.  Mirela is also an accredited trainer with applied teaching experience both in classroom and on-line courses delivered to professionals looking to acquire additional practical skills, enhanced understanding and solutions in the fields of the trainings.


In today’s volatile business environment, most companies were affected by the new accounting standard for lease agreements. The impact was mostly seen in the balance sheet but also in various financial indicators used to analyse the performance of a business. On top of the challenges brought by the new standard, the rent concessions received or granted as a result of COVID raised new difficulties for companies.

This online course takes participants on a deep dive into lease agreements. They will explore the principles brought by IFRS 16 in reporting leases, differences from the old standard and the financial indicators most likely affected by the changes, both from the lessee’s and lessor’s perspectives.  The course facilitator will also introduce the latest developments in reporting on leases and will approach a very up-to-date topic: how to reflect the rent concessions COVID related in the financial statements.

LEARNING OUTCOMES

  • Understand the new principles behind the new standard  
  • Understand the impact on the financial statements, both for lessees and lessors 
  • Gain insights on how the reported financial performance of the business will be impacted 
  • Work through different scenarios involving lease agreements 
  • Understand the impact of COVID on how lease agreements are reported 

 CONTENT 

  • Identifying a lease 
  • Recognition, measurement, disclosure and presentation of leases from the lessees’ perspective 
  • Recognition, measurement, disclosure and presentation of leases from the lessors’ perspective 
  • Major differences from the old standard on leases 
  • Main financial indicators impacted by the new standard 
  • Major challenges and how to overcome them 
  • How to reflect the rent concession as a result of COVID in the financial statements 

 LEARNING ACTIVITIES

During the course the concepts introduced will be practiced with both interactive and individual activities. Different case studies will be given to illustrate the concepts presented. 

The webinars will be highly interactive, based on discussions and case studies. 


PREREQUISITE A basic financial background is compulsory.


TARGET AUDIENCE: Managers, team leaders, and any professional in business, with a basic financial background, who wish to increase their knowledge and skills related to the leases from a managerial perspective.

NUMBER OF PARTICIPANTS: limited to max. 12

The webinars will be highly interactive, based on discussions and case studies.


The webinars will be hosted and delivered using ENVISIA Online PlatformPowered by KNOLYX, a secured e-learning platform, allowing the virtual participation, both from home or from work, with no risks associated, using just a browser. After the registration to the course, one day before the webinars took place, the participants will receive a link to access the virtual classroom

DURATION: 4 hours (net)

LANGUAGE: Romanian (or English at request)

A CERTIFICATE OF ATTENDANCE will be issued by the e-learning platform, after the course.


CONTACT US:

Gabriela HÂRȚESCU, PhD

COO & Dean ENVISIA Business School

Tel: 0040.748.886.800

E-mail: gabriela.hartescu@envisia.eu

EFFECTIVE LEADERSHIP & GOVERNANCE IN CRISIS

(A 6-hour online series: 3 sessions of 2 hrs. each)

Facilitator: ANCA DRAGU, PhD

Anca is an economist with experience in top-level national and international institutions, such as: National Bank of Romania, Ministry of Public Finance, International Monetary Fund and the European Commission – DG Economic and Financial Affairs.. During November 2015 – January 2017, she served as Minister of Public Finance. Starting 2019, Anca became deputy general director and board member of the energy company E.ON Romania. She is associate professor at several universities and she is the author of many research papers and articles.

Anca holds a PhD, master and bachelor degrees in economics and finance from Bucharest Academy of Economic Studies, National School for Political and Administrative Studies and George Washington University.


This series aims at providing answers to the following questions: What is the relationship between leadership and governance? What is expected from leaders during crisis?     

Effective leadership is about executing the company’s vision (or even redefining and improving it) and setting the tone and the culture in your organization. Leadership means creating and planning, securing resources and looking out for and improving errors. Leadership is about motivating people to work together and cooperate with themselves or with other teams in order to achieve the organization’s goals.

Governance is about more than just leadership — but without visionary and accountable leaders your governance can quickly become ineffective and can lack credibility. Leadership and governance are interdependent when dealing with and managing risks.

Crises, replete with complexity and change, require executives to both lead and manage effectively.

LEARNING OUTCOMES

  • What is the mindset behind the effective crisis leadership?
  • What kind of leadership contributes to effective governance in crisis?
  • How can you be part of the next generation of strong leaders in the aftermath of the crisis?

Session/Webinar 1: THE MINDSET BEHIND THE EFFECTIVE CRISIS LEADERSHIP (2 hrs)


Key concepts: Crisis management, Leadership essentials, Emotional intelligence

Leadership is about knowledge-led vision. This is the only way to send a strong message to people that things are under control. Only thus a ruler or a manager is perceived as a leader to be trusted and followed.

Effective crisis leadership implies a clear, calm, regular and balanced communication.

Crisis periods are also a very good opportunity to bring people on-board on your vision.

Now, more than ever, people should not feel abandoned; people should feel protected, encouraged and empowered; people need to receive rapid and encouraging feedback helping them to cope with the crisis times.


Session/Webinar 2: LEAD WITH HUMANITY WHEN CRISIS STRIKES (2 hrs)


Key concepts: Leading teams in crisis, Enhanced collaboration, Empathy    

The times of rigid and untouchable leaders it’s over. Humbleness and compassion are the most appreciated features, exposed genuinely.

When crisis strikes, we are alike. We share the same fears, concerns and uncertainties, but leaders are helping the others to find the answers, the strength and the ability to go through.

You, leaders, help people dealing with the unknown!

When crisis strikes, make sure that you encourage people to build a right balance between professional and personal life and objectives, adjusted to the difficult times we are all passing through.


Session/Webinar 3: LEADERS, DO YOU HAVE A VISION AND A STRATEGY FOR THE POST-CRISIS? (2 hrs)


Key concepts: inspirational leadership, strategic thinking

Apply a step-by-step approach: understand the current situation, use analysis, data and trustable information and forecasts to build your own vision and strategy for the post-crisis period. Show people this future, with confidence and professionalism.

Crisis brings also opportunities for people to change and to progress. Encourage and motivate people to take the opportunity to evolve and to be better adapted to post-crisis times.

Empower your team members to take part in the decision-making process. Fully transparent management and decision-making process is critical.

Future is about trust, which is built in years but lost in hours!

The webinars will be highly interactive, based on discussions and examples.


TARGET AUDIENCE: top and middle managers, team leaders, business owners


NUMBER OF PARTICIPANTS: limited to max. 12


The webinars will be hosted and delivered using ENVISIA Online Platform, Powered by KNOLYX, a secured e-learning platform, allowing the virtual participation, both from home or from work, with no risks associated, using just a browser. After the registration to the course, one day before the webinars took place, the participants will receive a link to access the virtual classroom.  

DURATION: 6 hours (net)

LANGUAGE: Romanian (or English at request)

CERTIFICATE OF ATTENDANCE will be issued by the e-learning platform, after the course.


CONTACT US:

Gabriela HÂRȚESCU, PhD

Dean & COO ENVISIA Business School

Tel: 0040.748.886.800

E-mail: gabriela.hartescu@envisia.eu

ESSENTIALS OF CHANGE MANAGEMENT

(A 4- hour online series)

Facilitator: STEVE WILLIS, FCCA

International Trainer/ Presenter/ Consultant/ MBA Instructor

Steve Willis, FCCA is passionate about helping business, banking and finance professionals learn new skills and advance in their careers.  Over the past 15 years, Steve has delivered thousands of days of consulting and training for global organizations such as the Big 4 accountancy firms, multinational companies, shared services centers, USAID, World Bank, ACCA, and many others, and had delivered training courses in over 30 countries across the globe.

Steve specializes in technical training in finance and accounting and in a range of human and people skills, such as change management, performance management, communication, and presentation skills. He holds a FCCA certificate from ACCA.


This training course aims to introduce and equip participants with a practical and well-respected set of tools and techniques for managing the change process, overcoming resistance to change, and successfully handling a change event.  We’ll explore the causes and triggers of change, the impact of your company’s culture of the change management process, and useful models to employ for managing change. Finally, we’ll practice with what you’ve learned using an interactive case study. Constant change has become the new normal in business as competitive landscapes continually shift, and we are faced with new challenges to overcome. To succeed in this new environment, team leaders, managers, and aspiring managers need to both appreciate the importance of change management and be able to employ methods that enable them to successfully lead their teams to the desired outcome.

With a new understanding of change management essentials, participants will be able to apply what they’ve learned to the workplace and maximize their ability to manage change.

TARGET AUDIENCE: Managers, Team Leaders, Business Owners and Professionals who need to advance their skill set in Change Management


LEARNING OUTCOMES

  • Assess a change situation impacting you or your team
  • Learn practical change management frameworks
  • Build a toolbox of techniques to help you mitigate resistance and successfully overcome a change situation

CONTENT

  • Understand the triggers of change
  • Analyze your organization’s culture and its impact on managing change
  • Introduction and practice with change management frameworks
  • Managing resistance to change
  • Case-study activity to apply the newly learned skills

The webinar will be highly interactive, based on discussions and case studies.


TARGET AUDIENCE: Managers, Team Leaders, Business Owners and Professionals who need to advance their skill set in Change Management


NUMBER OF PARTICIPANTS: limited to max. 12


The webinars will be hosted and delivered using KNOLYX platform, a secured e-learning platform, allowing the virtual participation, both from home or from work, with no risks associated, using just a browser. After the registration to the course, one day before the webinars took place, the participants will receive a link to access the virtual classroom.   

DURATION: 4 hours (net)

A CERTIFICATE OF ATTENDANCE will be issued by the e-learning platform, after the course.


CONTACT US:

Gabriela HÂRȚESCU, PhD

COO & Dean ENVISIA Business School

Tel: 0040.748.886.800

E-mail: gabriela.hartescu@envisia.eu

THE CRISIS LEADER – Fighting CRISIS with RESPONSE

(A 8-hour online series: 2 sessions of 4 hrs. each)

Facilitator: OWEN FERNANDES, MBA, PhD

Personal & Leadership Development Coach, International MBA Instructor / Speaker / Trainer

Owen Fernandes, MBA, PhD is a certified member of THE JOHN MAXWELL TEAM, a world-class team of leadership coaches and mentors that have served almost all the Fortune 500 companies in the world. He carries 26 years of experience with him and has delivered workshops in USA, Europe, Africa and Asia. As a professional certified Psychometric Analyst, he is able to offer an approach with holistic understanding of one’s personality and gifting and to chart a unique and tailored personal or organizational growth and development plan.

Dr. Owen is also on the external teaching faculty of three Universities in Europe and specializes in teaching Global Leadership & Business Operation modules at the MBA level. He also holds a 6 SIGMA black belt certification – expert level.


Crisis in a way exposes or reveals a leader. It separates a pretender from a player. It inflicts an acid test about resilience, agility and creativity of a leader, imposing tremendous time pressure to act and make wise decisions.The real test of leadership does not occur when everything is smooth sailing. Rather, leadership is oftentimes tested during a crisis. The way a leader behaves and acts during a crisis will establish their credentials as a good leader or a poor one. During a crisis, everybody looks to a leader for the next step or for re-assurance. They seek for answers that all will be back to normal again and their current plight is at the forefront of their leaders attention.

Can a Manager without Leadership skills handle a severe Crisis?

Can a Leader without Management skills handle a severe Crisis?

What differentiates a “PRETENDER” and a “PLAYER” when it comes to showcasing Leadership abilities to handle crisis?

LEARNING OUTCOMES

  • The Crisis Leader- Is that You?
  • The Crisis Leader-What they do Well
  • The Crisis Leader- Handling Uncertainty
  • The Crisis Leader- Turning Adversity to Advantage

CONTENT

  • Understanding a Crisis – What does it actually do?
  • Who is a Crisis Leader? How does one know?
  • Respond OR React – Choices in Crisis.
  • How do you decide in Uncertainty?
  • Two CURRENT GENERATION short case Studies
  • Lessons and Learnings from a Crisis
  • Obstacles to Opportunities
  • 7 Leadership Practices in Times of Crisis

TARGET AUDIENCE: Managers/ Team Leaders/Business Owners


Session/Webinar 1 (2 hrs)

  • Introduction
  • Short Commentary on Crisis
    • Types of Crisis
    • COVID-19-Global Pandemic (6 crisis in 1)
  • Identifying Emotions Clearly (131 kinds of Emotions)
  • Who is a Crisis Leader? How does one know?

Session/Webinar 2 (2 hrs)

  • Choices in Crisis! Who is in control?
  • How does a Leader show up?
  • How do you decide? React Or Respond?
  • Perspective Check
    • Obstacles OR Opportunities
    • Complain OR Compete with Conviction?
    • Build OR Get Buried

Session/Webinar 3 (2 hrs)

  • Case Studies
    • Case 1 – ENRON
    • Case 2 – NEW YORK CITY
  • 7 Leadership Practices in Times of Crisis

Session/Webinar 4 (2 hrs)

  • Lessons & Learnings from a Crisis?
  • Anticipating the NEXT wave
  • Summary & Close

The webinar will be highly interactive, based on discussions and case studies.


TARGET AUDIENCE: Managers, Team Leaders, Business Owners


NUMBER OF PARTICIPANTS: limited to max. 12


The webinars will be hosted and delivered using ENVISIA Online Platform, Powered by KNOLYX, a secured e-learning platform, allowing the virtual participation, both from home or from work, with no risks associated, using just a browser. After the registration to the course, one day before the webinars took place, the participants will receive a link to access the virtual classroom.

 DURATION: 8 hours (net)

A CERTIFICATE OF ATTENDANCE will be issued by the e-learning platform, after the course.


CONTACT US:

Gabriela HÂRȚESCU, PhD

COO & Dean ENVISIA Business School

Tel: 0040.748.886.800

E-mail: gabriela.hartescu@envisia.eu

GROWING IN CRISIS – Opportunities are Everywhere

(A 4-hour online series) 

Facilitator: OWEN FERNANDES, MBA, PhD

Personal & Leadership Development Coach, International MBA Instructor / Speaker / Trainer

Owen Fernandes, MBA, PhD is a certified member of THE JOHN MAXWELL TEAM, a world-class team of leadership coaches and mentors that have served almost all the Fortune 500 companies in the world. He carries 26 years of experience with him and has delivered workshops in USA, Europe, Africa and Asia. As a professional certified Psychometric Analyst, he is able to offer an approach with holistic understanding of one’s personality and gifting and to chart a unique and tailored personal or organizational growth and development plan.

Dr. Owen is also on the external teaching faculty of three Universities in Europe and specializes in teaching Global Leadership & Business Operation modules at the MBA level. He also holds a 6 SIGMA black belt certification – expert level.


Crises never leave us the same; they move us forward to higher ground or backwards to fear and despair, but never the same.

“In the midst of every crisis, lies great opportunity” Albert Einstein

This is the time for many people to adapt to the current climate without lowering ethics and values.

Remember do no harm first; many people are extremely vulnerable mentally and emotionally at this time. So, choose wisely.

LEARNING OUTCOMES

  • Understanding Crisis
  • Identifying Fears and Emotions
  • Learning & Finding Opportunities
  • Experiencing Growth

TARGET AUDIENCE: all employees – building resilience in the face of a crisis


 CONTENT (2 webinars of 2 hours each)

  • Common nature of Crises
  • Impact of Crisis – Emotional, Mental, Social, Physical, Financial, Spiritual
  • Handling Fear & Discomfort
  • Patience, Calmness and Comfort
  • Learning zone – Evolving of Character
  • Hidden Opportunities & Growth
  • A Mature and Wise YOU

The webinars will be highly interactive, based on discussions and case studies.


TARGET AUDIENCE: all employees – building resilience in the face of a crisis 


NUMBER OF PARTICIPANTS: limited to max. 12


The webinars will be hosted and delivered using ENVISIA Online Platform, Powered by KNOLYX, a secured e-learning platform, allowing the virtual participation, both from home or from work, with no risks associated, using just a browser. After the registration to the course, one day before the webinars took place, the participants will receive a link to access the virtual classroom.

DURATION: 4 hours (net)

A CERTIFICATE OF ATTENDANCE will be issued by the e-learning platform, after the course.


CONTACT US:

Gabriela HÂRȚESCU, PhD

COO & Dean ENVISIA Business School

Tel: 0040.748.886.800

E-mail: gabriela.hartescu@envisia.eu

DIGITAL TRANSFORMATION – LEADING INNOVATION IN BUSINESS AND FINANCE

(A 4-hour online series)

Facilitator: JOHAN WINBLADH, MSc, PhD

International Trainer/ Speaker/ MBA Instructor


Johan Winbladh, PhD 
has a background from Management Consulting at Ernst & Young (now EY) in Stockholm and other locations in Europe and USA. He is currently an instructor at City University of Seattle/VSM in Bratislava Slovakia and an associate professor at the Wittenborg University of Applied Sciences, Amsterdam, The Netherlands. He also provides corporate seminars for learning and development for top and middle management, covering Strategic Management, Finance and Operations. He is passionate about innovation, Fintech and Digitalisation. Dr Winbladh has been lecturing in university campuses or giving presentations in high profile conferences, both in Europe and in Asia. His background is from Stockholm School of Economics, one of the premium business schools in Europe, where he earned a Master of Science in Finance and earned his PhD at CityU/VSM in Bratislava, Slovakia.


Digitisation vs Digitalisation. Digitisation is to transfer information from its physical form to a numerical form. Digitalisation is the process of leveraging Digitisation to improve business processes. We are dealing with the latter, but Digitisation enables Digitalisation. Digitalisation is the key to e-commerce, e-banking and e-marketing. Consumer retail, Banking and Financial Services, both online and traditional, is undergoing quick Digitalisation. Digitalisation is changing how business is running. Healthcare and pharmaceutical business relies more and more on Digitalisation. There are over 3 billion smartphones in the world, a considerable number of “sensors” in other words that can be used to collect data for business, and the government. Companies must integrate Digitalisation into their business model to enhance the customer experience. Companies operate not only in a physical landscape but also in a digital landscape of equal importance. Digitalisation will lead to disruptions and new business models. Digitalisation enables organisations to make better-informed decisions, it lowers the information asymmetry, transforms key levers for “faster execution” in time to market, flexibility, quality, safety & operational efficiency, while also creating new business opportunities. Digitalisation is the way to improve, Time to market, improved safety & reliability, enhanced flexibility, improved quality, and increased efficiency. In banking, finance and business Digitalisation is one avenue to combat operational risk, as well as improving customer experience and at the same time to control costs.

LEARNING OUTCOMES

  • Analyse Digitalisation and how organisations can utilise it
  • Why modernisation and Digitalisation of business processes is necessary
  • Becoming a data-driven organisation
  • Understand why Digitalisation is a must to survive the current age
  • Realise the difficulties of Digitalisation
  • Understanding the means and resources to Digitalise: Software engineers; Data architect; Data scientists; UX designers; Cloud computing specialists; Product managers

CONTENT

  • What is Digitalisation
  • How to Digitalise
  • Digitalisation in Organisations and Businesses
  • How to Know If You Should Digitalise Your Business?
  • Digitalisation Strategy
  • Digitalisation Process – How to Get Started?
  • Pitfalls of digitalisation

Key concepts: Industry 4.0, Efficiency (resource efficiency, cost efficiency and speed of operation) Job destruction, Automation, Robotisation, Learning machines, Zero marginal cost economy, Safety and Security (Control, Resilience, Risk Reduction), Quality (Effectiveness of operations, compliance with regulations and expectations), Internet of Things (IoT)

The webinars will be highly interactive, based on discussions and case studies.


TARGET AUDIENCE: Mid to Senior level Managers, Product Managers, Project Managers, (Digital) Marketing Managers, Operations Managers, Consultants


NUMBER OF PARTICIPANTS: limited to max. 12


The webinars will be hosted and delivered using ENVISIA Online Platform, Powered by KNOLYX, a secured e-learning platform, allowing the virtual participation, both from home or from work, with no risks associated, using just a browser. After the registration to the course, one day before the webinars took place, the participants will receive a link to access the virtual classroom.

DURATION: 4 hours (net)

A CERTIFICATE OF ATTENDANCE will be issued by the e-learning platform, after the course.


CONTACT US:

Gabriela HÂRȚESCU, PhD

COO & Dean ENVISIA Business School

Tel: 0040.748.886.800

E-mail: gabriela.hartescu@envisia.eu

FINANCE – KEY ASPECTS FOR BOARD OF DIRECTORS MEMBERS – Coaching programme one-to-one

Facilitator: LUMINITA DANETI, MBA

Consultant/ Trainer/ MBA Instructor

Luminița has more than 25 years of experience in corporate finance, in different industries, with companies ranking from SMEs to EUR 400M turnovers, as well as more than 10 years in financial services (banks, mortgage, financial leasing). Her business experience covers: 13 years in aircraft engineering, 25 years in corporate finance and general management, locally and internationally (Europe, USA, Canada, Egypt).

She is a senior consultant with experience in corporate finance, business valuation, strategic planning and general management and possesses an innate creative potential, giving her the ability to approach situations with foresight and originality. Luminița is idea-driven and is able to see situations in the larger perspective, enthused by future possibilities and continuous improvement. 

Strong business and financial professional, she holds three master degrees (business, aeronautics and mathematics) and is alumna from prestigious schools: City University of Seattle (WA, USA), Polytechnic Institute Bucharest-Aeronautic Faculty and University of Bucharest–Faculty of Mathematics. Luminița has a strong experience as lecturer and facilitator for courses and seminars: City University of Seattle, MBA program: Business Valuation, Capital formation and Venture Capital, Financial Analysis and Investments; Controlling Institute Romania: Strategic Management, Finance and Investments; Romanian Banking Institute: European Banking Certificate (and co-author of the manual), Financial Analysis for a Financial Institution, Finance for Managers. 


OBJECTIVES AND BENEFITS

Finance can be a complex business and Board Members need a strategic understanding of it, they do not need to know every aspect or detail of their organization’s finances. However, the Board is ultimately responsible for ensuring that the organization is financially sound and all Board Members are expected to discharge certain key financial responsibilities.

This modular coaching programme will provide the essential set of knowledge and skills required to assess the financial health of a business and contribute more effectively to boardroom decision-making process.

The benefits of the programme are the following:

  • Enhanced understanding of financial statements as a whole; understand how individual components of financial statements relate to each other and how are affected by management decisions.
  • Mastering the key financial terminology, accounting concepts and standards and understand what information is required at the level of Board Members.
  • Understanding how to use financial ratios and interpret accounts; identify and raise the relevant questions and therefore more effectively review and assess the financial health and position of the company.
  • Scrutinizing key financial data with more confidence and challenge financial proposals, business plans, projections, and reports.
  • Confidently influencing Board level decisions and company management based on a sound understanding of financial concepts in the context of company’s strategic objectives.
  • Making more informed Board level decisions while communicating more confidently and effectively with Board Members on financial issues.

 CONTENT 

Financial management 

  • Functions 
  • Types of financial decisions 
  • Business model: financial needs, financial sources 
  • Operations financing, investment financing 
  • Fundamental concepts: accounting principles, accrual accounting, going concern principle 

Financial statements 

  • Income statement, recognition rules, reporting challenges 
    • Revenue analysis 
    • Expense analysis 
  • Balance sheet, recognition rules, reporting challenges 
    • Assets 
    • Liabilities and equity 
  • Cash flow statement 
    • Major components 
    • Methods 

Financial analysis 

  • Objectives, instruments 
  • Ratio analysis 
  • Limitations and pitfalls of ratio analysis 

Financial decisions – types, factors 

  • Time value of money 
  • Net present value, internal rate of return, payback period 

Financing decisions 

  • Short term, long term 
  • Capital structure, cost of capital 
  • Factors affecting financing decisions 

Investment decisions 

  • Short term, long term 
  • Projects’ appraisal  
  • Study case for project appraisal 

Dividend decisions 

  • Factors affecting dividend policy 

 COACHING PROGRAMME PROCESS:

1 exploratory/introductory session (1hr): assessment and evaluation of the needs of coachee – what to focus on

2 – 3 tailored coaching sessions (2 hrs/each): the key concepts will be strategically explained and practiced using case studies and examples


LANGUAGE: Romanian (or English at request)


CONTACT US:

Gabriela HÂRȚESCU, PhD

COO & Dean ENVISIA Business School

Tel: 0040.748.886.800

E-mail: gabriela.hartescu@envisia.eu