Operations Certificate Programme (OCP)

Brussels: 27 March - 2 April 2011

Course Overview

The International Capital Market Association (ICMA) Executive Education's OCP Certificate is an intermediate and examined qualification that places strong emphasis on developing practical skills based on a thorough understanding of the main operational processes for cash markets securities (equities, bonds and hybrid securities). It is very valuable for persons who manage operational departments and need to have a broad and in-depth understanding of the operations area as a whole.

The syllabus is built around the more advanced topics in the text (provided to all candidates in advance of the course): "Securities Operations: A Guide to Trade and Position Management" published by Wiley Finance in 2002 and written by Michael Simmons, one of the course instructors.  Particular emphasis is placed on:

  • Reference/static data management 
  • The trade life cycle 
  • Settlement and fails management 
  • Securities lending and borrowing
  • Safe custody 
  • Corporate actions
  • Cash funding
  • Reconsiliations  

The OCP was completely updated in 2008 and provides current and authoritative content in all its areas.

As an intermediate qualification, the OCP requires that the candidate should have familiarity with the key topics listed below (note that Background Reading is provided on these topics for those who require reading on any of the topics):

  • The Securities Marketplace
  • Definitions and Feature of the Main Types of Corporate Actions
  • Forms and Types of Securities

The OCP is a "Recommended Exam" on the Wholesale Banking/Operations list, compiled by the FSSC (Financial Services Skills Council) in the United Kingdom.

Course Content and Format

The course is presented in lecture style by the teaching faculty and is interspersed with group exercises and a settlement simulation model. Time is set aside for course review and examination revision.

The course sessions are as follows: 

  1. Participation in the Securities Industry

  2. Reference Data Management

  3. The Role of the Front Office

  4. The Role of the Middle Office

  5. The Trade Lifecycle: Pre-Settlement

  6. The Trade Lifecycle: Settlement & Fails Management

  7. Securities Lending & Borrowing

  8. Case Study/Summary: Settlements

  9. Safe Custody

  10. The Role of the Custodian

  11. Group Exercise: Settlement Simulation (Double Session)

  12. Corporate Actions (Double Session)

  13. Cash Funding

  14. Case Study/Summary: Custody & Corporate Actions

  15. Regulation & Compliance

  16. Reconciliation

Click here for course syllabus

Target Audience 

The OCP Certificate is intended primarily for two types of candidate.  Firstly, operations practitioners within their first ten years in the industry and, secondly, operations managers who would benefit from a broader knowledge of the various operational functions in the industry.

Candidates will come from organisations involved in both the sell-side and buy-side of the industry plus Central Banks, Central Securities Depositories, International Central Securities Depositories, Global Custodians, Stock Exchanges and Regulators.

The course is open to ICMA members and non-members.

Programme Faculty

The OCP is a professionally-taught programme using trainers with both practitioner experience and training expertise both gained over many years in the securities industry.  The members are:

Keith Dickinson
Keith Dickinson is Programme Director for the Operations Certificate Programme (OCP) and Visiting Fellow at the ICMA Centre, The University of Reading. His career spans almost 40 years, formerly in operations management, both in securities and banking as well as fund management, and latterly the training business. His training covers a wide variety of operational topics and has delivered courses internationally.

John D. Evans CFA
John Evans is a full-time member of the academic staff of the ICMA Centre, University of Reading and is also Program Director for the Centre's MSc Investment Management. He is also Programme Director for the ICMA International Fixed Income & Derivatives Course and Financial Markets Foundation Course certificate programmes. Prior to academia, John spent twenty years in the fixed income market in Toronto, New York and London in areas of research, origination and sales & trading.

Neil Schofield  
Neil Scofield is a Visiting Fellow at the ICMA Centre and principal for FMT Limited a UK-based firm that specializes in providing training in financial markets.  He lectures on both the MSc degrees at the Centre and also with ICMA Executive Education.   Previously, he was Global Head of Financial Markets training at Barclays Capital.  He holds a BSc in Economics from Loughborough University and an MBA from Manchester Business School.  He was elected as a Fellow of the IFS School of Finance (formerly the Chartered Institute of Bankers) in 1999.  Neil is author of the book ‘Commodity Derivatives' published by Wiley in November 2007. 

Mike Simmons
Mike Simmons is an independent training consultant and has been involved with the capital markets and operations throughout his career, focusing originally upon securities settlement and more recently on the broader aspects of operations (e.g. derivatives, trade finance, payments, corporate finance and corporate lending). Mike is also the author of two books on the subject published by Wiley Finance, including the book "Securities Operations: A Guide to Trade and Position Management", published in 2002, which all candidates are provided with for the OCP.

Details of the next seminar

Venue: Dolce La Hulpe
27 March - 2 April 2011
Brussels, Belgium

Please note there is only one OCP per annum

Course Registration 

Registrations will be open soon.

To register, please use our online registration system: https://www.icmacentre.ac.uk/exec_registration

Please note that you should follow the online guidance regarding course confirmation and making payment.

Fees

Included in the course fee is accommodation at the Dolce la Hulpe Brussels hotel from Sunday with departure on Saturday. Also included are all meals, coffee breaks plus course handouts and supplies. There is a welcome reception on Sunday 18:00, just before dinner.

£3,500.00 for Members and £4,550.00 for non-members.

Discounts are available as follows:
2 to 4 candidates - 5% discount each*
5 to 9 candidates - 10% discount each*
10+ candidates - 15% each*

*Please note that discounts are applied by way of a refund to the organisation when registration has closed and the final number of candidates from the firm has been determined.

Contact Details

Should you require further information, please contact:
Mike Kirkman, Marketing Executive

Email:  ocp@icmacentre.ac.uk
Tel:     +44 (0)20 7538 5656 (ext 2221)