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Audit and Compliance in International Trade Finance (London, United Kingdom - December 9, 2020)

  • ID: 5025128
  • Training
  • December 2020
  • Location: London, United Kingdom
  • 1 Days
  • Eureka Financial
  • Training Dates: December 9, 2020
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An advanced 1-day primer for banking, compliance and audit professionals

This practical 1-day course conducted by an expert in International Trade Finance will focus on effective compliance practices preventing criminals from using the financial system and your organisation for their own purposes.

Over the years, shortcomings have been identified in the international trade finance examination process which when resolved, contribute to closing market gaps and 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 examination process by auditors, compliance officers, risk managers and regulators involved in the international trade finance.

The programme is based on extensive risk management and international trade finance experience as well as work with bank regulators and commercial banks.

What will you learn

By the end of this 1-day course you will be able to:

  • Identify the key compliance processes in international trade finance
  • Recognise the critical stages of the international trade finance audit process
  • Be able to set up the audit of international trade finance
  • Recognise 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

Main topics covered during this training

  • A brief overview of International Trade Finance
  • Audit - getting everything in place
  • International trade finance operating models
  • Compliance processes in International Trade Finance
  • Auditing International Trade Finance in a multifaceted regulatory environment
  • The regulatory environment
  • Trade Finance red flags
  • Operational considerations, controls and risks
  • Sanction screening investigations
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A Brief Overview of International Trade Finance

  • Understanding the perspective of international trade and global supply chains
  • Key characteristics of international trade finance

Audit - Getting everything in place

  • Setting the scene - key parameters
  • Trade based money-laundering topologies
  • Planning the audit
  • International trade finance operating models

Compliance Processes in International Trade Finance

  • AML/CFT issues
  • Countering trade-based money laundering - best practice
  • Technology, reporting and analytics
  • Audit conclusions and recommendations
  • Illustrative example - Bank Secrecy Act and 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 sector regarding Trade Finance practices.
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Richard’s professional experience spans over 25 years. He started his career with Wells Fargo Bank, following by Fundtech and then moving to international advisory and consulting for the private and high-tech sectors providing high-level consulting, business analysis, project management and training to a wide range of banking clientele across the globe.

Over his career Richard was involved in International Trade Finance, Cross Border Payments and Settlements, Operational Risk, AML and Corporate Governance amongst others.

He has spent extensive time servicing a diversity of financial institutional clients in many countries including: UK, Ireland, China, Singapore, Hong Kong, Philippines, Korea, Malawi, Ghana, Nigeria, Kenya, South Africa, Poland, Sweden, Netherlands, Greece, Norway, Bermuda and across North America.

Clients that Richard has trained & consulted to include: JP Morgan, Abu Dhabi Commercial Bank, Qatar Exchange, Abu Dhabi Investment Authority, Central Bank of Egypt, Irish Gas, UBS, Central Bank of Ireland, Central Bank of Norway, Merrill Lynch, PGGM, BP, Asian Development Bank, African Development Bank, Instinet, Fundtech, European Central Bank, Brunei Investment Agency, British Steel Pension Fund, Salesforce and Tullet Prebon amongst others.

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  • 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
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ADDRESS

London
United Kingdom

Venue to be announced shortly.

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