This course is an advanced primer for banking, compliance and audit professionals. In this course, we will address compliance issues, and the unintended consequences contributing to market gaps in trade finance, as well as providing information aimed at preventing criminals from using the financial system and your organization for their own purposes.
Over the years, shortcomings have been identified in the international trade finance examination process that, when resolved, contribute to closing market gaps, promote a shared understanding of the financial crime risks of international trade, while strengthening the fight against crime.
This course aims to address these shortcomings by providing a guideline to an effective audit and/or examination process (by auditors, compliance officers, risk managers, and regulators) as it relates to international trade finance.
The course is based on extensive risk management and international trade finance experience and working with bank regulators and commercial banks.
Learning Outcomes:
After attending this 1-day course, you will be able to
- Identify the key compliance processes in international trade finance.
- Recognize the critical stages of the international trade finance audit process.
- Be able to set up the audit of international trade finance.
- Recognize the critical issues that must be addressed to ensure that your international trade finance audit is effective.
- Identify the vital issues involved in compliance when dealing with international trade finance.
Teaching Method:
This highly interactive course is comprised of a combination of prepared tuition, presentations, case studies, multidirectional discussions, and comprehensive exercises.
Most importantly, it will offer participants, opportunities to plan such work within small working groups, providing practice in the application of the techniques and tools generating active participation.
In-Person Seminar going Virtual with increased learner satisfaction.
Yes, attend this seminar from anywhere. We are making it real and more interactive – Here's a sneak peek:Our enhanced delivery process and technology provides you an immersive experience and will allow you to access:
- The real-time and live presentation as in in-person events
- Private chat for company-specific conversation – the same as you would get in an in-person seminar
- Opportunities to connect with your peers to share knowledge at a different time and have group discussions
- Live workshop activities
- Live Q&A during the event and offline Q&A assistance after the event
- As usual more content, activities and case studies and now adding homework for a comprehensive understanding
- Certification
Who will Benefit:
The course will be of value to professionals in the following areas:
- External & Internal Auditors
- Compliance Officers
- Commercial bankers from front/middle/back offices
- Commercial bankers dealing with the Forex market
- International division bankers
- Trade finance supervisors and managers
- Risk managers and risk management officers
- Trading company, multinational corporate & treasury staff
- Trading company managers, senior and operations staff
- Central Bank and Monetary Authority supervisors/regulators
January 10th, 2022 (9:00 AM - 3:00 PM PST)
- A Brief Overview of International Trade Finance
- Understanding the perspective of international trade and global supply chains
- Key characteristics of international trade finance
- The Audit – Getting everything in place
- Setting the scene – key parameters for definition
- Trade based money-laundering typologies
- Planning the audit
- International trade finance operating models
- Compliance Processes in International Trade Finance
- AML/CFT issues
- Countering trade-based money laundering. Illustrative best practice
- Technology, reporting & analytics
- Audit conclusions and recommendations
- Illustrative example - Bank Secrecy Act & Anti-Money Laundering Examination Manual (FFIEC)
- Auditing International Trade Finance in a Multifaceted Regulatory Environment
- The Regulatory environment
- Trade Finance red flags
- Operational considerations, controls and risks
- Sanction screening investigations
- Trade Finance audit approach – we examine the audit approach under each of the following control descriptions;
- customer standing
- trade finance policy and procedures
- transaction review against red flags
- counterparty due diligence
- verification of automated sanction screening
- supplementary manual sanction screening
- approved client lists
- compliance with US anti-boycott laws
- ensuring adequate metrics, and
- ensuring staff have appropriate OFAC/compliance training.
- Case Study
- Common weaknesses in the banking industry regarding Trade Finance.
Richard Barr
Operational Risk & Back Office Specialist
Richard holds a B.S. in International Business Administration from San Jose State University in California. His professional experience spans over 30 years. The first 5 years were spent with Wells Fargo Bank. Another 5 were spent honing his global banking skills, when Richard was intimately involved with International Trade Finance, Real Time Gross Settlement and International Payments, Cross Border Banking.
Richard then repositioned into the private and high-tech sectors providing high-level consulting services, business analysis, project management and training to a wide range of banking clientele across the globe.
He has spent extensive time servicing a diversity of corporates and “financial institutional” clients, in China, Singapore, Hong Kong, Philippines, Korea, Malawi, Ghana, Nigeria, Kenya, South Africa, Poland, Sweden, Ireland, Netherlands, Greece, United Kingdom, Norway, Georgia, Bermuda and across North America. Clients that Richard has trained & consulted to include with such notable firms as ANZ Bank, AIB Bank, Eurobank, ABSA Bank, CitiBank, Swedbank, IBM, Montran and Fundtech, as well as many others.
Richard has also filled the role of advisor to ministries of finance, central banks on risk management, corporate governance, cash management, payment systems and technical payment and risk issues. Furthermore, key staff members from the Georgia Ministry of Finance, Bank of England, South African Reserve Bank, Central Bank of Ireland, Bank Indonesia, European Central Bank, Norgesbank, Central Bank of Kenya, Central Bank of Tanzania and Bank of Portugal have attended training sessions presented by Richard.
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Payment:
Payment is required 2 days before the date of the conference. We accept American Express, Visa and MasterCard. Make checks payable to MetricStream Inc. (our parent company).Cancellations and substitutions for In-person Seminars:
Written cancellations through fax or email (from the person who has registered for this conference) received at least 10 calendar days prior to the start date of the event will receive a refund - less a $300 administration fee. No cancellations will be accepted - nor refunds issued - within 10 calendar days before the start date of the event.On request by email or fax (before the seminar) a credit for the amount paid minus administration fees ($300) will be transferred to any future ComplianceOnline event and a credit note will be issued.
Substitutions may be made at any time. No-shows will be charged the full amount.
We discourage onsite registrations, however if you wish to register onsite, payment to happen through credit card immediately or check to be submitted onsite. Conference material will be given on the spot if it is available after distributing to other attendees. In case it is not available, we will send the material after the conference is over.
In the event ComplianceOnline cancels the seminar, ComplianceOnline is not responsible for any airfare, hotel, other costs or losses incurred by registrants. Some topics and speakers may be subject to change without notice.
