CertBALM vs BTRM: Choosing the Right Path in Treasury Management
The start of a new year is the perfect time to reflect on your professional goals and chart a course for where you want to be this time next year. For professionals in banking, treasury, or ALM, enhancing your knowledge with a specialised course can provide a valuable career boost. Two leading qualifications in this field are the Certificate in Bank Asset and Liability Management (CertBALM) and the Balance Sheet Management and Treasury Risk Management (BTRM) programme. While both aim to develop expertise in ALM and treasury functions, their approaches, focus, and value differ significantly.
CertBALM: A Structured Foundation in ALM
CertBALM, developed by the Asset and Liability Management Association (ALMA) and accredited by the Association of Corporate Treasurers (ACT), is a Level 6 qualification equivalent to the final year of an honours degree. Spanning approximately six months, the course provides a structured introduction to ALM across five units:
Banking, Treasury, and ALM Overview
Capital Risk Management
Liquidity and Funding Risk
Market Risk in the Banking Book
Integrated Asset and Liability Management
CertBALM combines online study with a mandatory four-day residential course, blending theoretical learning with practical application. Assessments include progress tests, examinations, and a final assignment.
However, it is worth noting a peculiar aspect of CertBALM’s final assessment. The course’s concluding assignment focuses heavily on valuations, an area that some may consider tangential to the core subject of bank treasury management*. In my opinion, valuations should not play such a prominent role in the assessment. It feels misplaced, especially as it can determine whether you pass or fail, even if you have excelled in every other aspect of the course that directly relates to treasury and ALM.
CertBALM is also more UK-focused, both in terms of content and audience, as it is designed primarily with the UK banking sector in mind. While it provides a strong foundation, this narrower focus may limit its applicability for those working in or aiming for roles in international banking environments.
The cost of CertBALM is approximately £4,150 plus VAT, with additional fees for accommodation and assessment. For those new to ALM, this can be a valuable entry point, though its alignment with practical treasury needs and international relevance warrants consideration.
*As this may be subjective, I asked ChatGPT in order to obtain a neutral opinion:
BTRM: A Comprehensive and International Approach
The BTRM course is a globally respected qualification created by Professor Moorad Choudhry, a name that resonates with anyone in the field of banking and treasury. Moorad is globally recognised not only for his extensive practical experience but also for his prolific contributions to the field, including numerous authoritative books on ALM, treasury, and risk management.
Much like dining at a celebrity chef’s restaurant, enrolling in BTRM offers the opportunity to learn from a globally renowned figure in the industry. While the course may cost more at £8,450, it reflects the premium value of learning from a leading expert whose insights and practical knowledge are unparalleled.
One of the standout features of BTRM is Moorad’s meticulous approach to selecting the best lecturers. Each lecturer is a distinguished professional with decades of experience in banking, treasury, or risk management. This team of experts ensures that every module is delivered with exceptional depth, clarity, and practical relevance. Students are not just learning from textbooks as they are benefiting from the insights and real-world experiences of some of the best minds in the industry.
The BTRM is also distinctly international in its scope and delivery. It is designed for professionals working in global banking environments, with content that addresses international banking challenges and best practices. The programme’s flexible, online-first approach ensures that participants from across the globe can access live and recorded lectures, making it a truly international learning experience.
The BTRM is a six-month, part-time course designed to provide an in-depth exploration of balance sheet management. It goes far beyond the fundamentals to cover advanced topics like:
Bank Balance Sheet Risk Management
ALM Operating Models and Governance
Strategic ALM and Financial Markets
Liquidity Risk Management
Bank Capital Management
Unlike CertBALM, the BTRM emphasises practical application. Participants engage with real-world case studies, interactive workshops, and industry-standard tools that allow them to apply their knowledge directly to their roles.
Choosing BTRM is not just about gaining knowledge; it is about tapping into the expertise of a banking “celebrity” and an elite team of lecturers carefully chosen for their deep understanding of the industry. Its global relevance, practical focus, and premium delivery make it a transformative journey for mid- to senior-level professionals.
CertBALM vs BTRM: Which is Right for You?
Both qualifications offer valuable learning opportunities, but they cater to different professional needs:
CertBALM is ideal for individuals new to ALM, providing a structured, foundational approach. If price is a significant consideration, this course is also slightly cheaper. However, the inclusion of valuations in the final assignment could feel misaligned with the core focus on treasury management. Additionally, its UK-centric content may not fully meet the needs of professionals in global roles.
BTRM is suited for any professional, including mid- to senior-level or those seeking a more comprehensive, practical focus on treasury risk management. Its international scope, practical application, and the prestige of learning directly from Moorad Choudhry and his handpicked team of leading industry experts set it apart.
BTRM’s edge lies in its depth, real-world applicability, and global relevance. Much like the premium cost of a celebrity chef’s restaurant, the investment in BTRM reflects the unparalleled opportunity to learn from some of the most respected figures in banking, on a course that is truly international in scope.
A New Year, A New Opportunity
As you consider your professional development for the coming year, ask yourself: Where do you want your career to be next January? Both CertBALM and BTRM can be completed within a year, providing a structured pathway to enhance your expertise in ALM and treasury management. Your decision should reflect your current experience, career aspirations, and the level of practical application you seek.
If you are unsure which course aligns best with your goals or would like personalised advice, my inbox is always open. I would be happy to provide more detail or career guidance for either option.
Investing in your knowledge today can help shape your future tomorrow. Make this year the one where you take a decisive step towards your ambitions.
References:
CertBALM: ukalma.org.uk
BTRM: btrm.org
