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Auditing and Compliance - International Trade Finance (December 9, 2021)

  • ID: 5448408
  • Training
  • December 2021
  • Region: Global
  • 1 Day
  • Compliance Online
  • Training Dates: December 9, 2021

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. 

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  • December 9th, 2021 (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.
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  • Richard Barr Mr Richard Barr,
    Operational Risk & Back Office Specialist ,
    High-level Consulting Services


    Richard Barr , holds a B.S. in International Business Administration from San Jose State University in California. His professional experience spans over 23 years, 5 of which 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 Cross Border Banking. The past 14 years have been in 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.

    Richard has also filled the role of advisor to central banks on payment systems and technical payments issues. Furthermore, key staff members from the Bank of England, South African Reserve Bank, Central Bank of Ireland, Bank Indonesia, European Central Bank and Bank of Portugal have attended training sessions presented by Richard.

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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
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