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International Payments (June 27-29, 2022)

  • ID: 5546304
  • Training
  • June 2022
  • Region: Global
  • 3 Days
  • Eureka Financial
  • Training Dates: June 27-29, 2022
This is a unique opportunity to complete this programme online via a virtual interactive classroom which will be delivered over 3 x 4.5 hrs sessions on 27-29 Jun 2022 at 10 a.m. UK time. The course is delivered by a senior expert with over 20 years of international experience.

Our online classes are so much more than just a webinar - they provide an interactive experience where you will be able to get your questions answered in real-time by our senior experts and have discussions with other participants. You will receive a comprehensive set of course materials and course certificate on completion.

On completion, you will receive a comprehensive set of course materials and course certificate.

This practical course has been tailored for banking professionals who have some experience in domestic payments and want to expand their knowledge of international payments. You will explore the key principles, concepts, practices, and current developments in international payments.

You will have a chance to learn about the principles of foreign exchange and currency, high-value global payments, purpose, and role of SWIFT and CLS, global clearing and settlement mechanisms as well as about liquidity management, international trade facilitation, risk management, and legal and regulatory issues.

Who should attend? This course will be of special interest to payment professionals with some experience who wish to expand their knowledge base and advance their careers into the global payments arena.


What will you learn


On completion of this course you will:
  • Gain the practical knowledge of all key processes and concepts in international payments
  • Learn about the various stages of low and high value payment process
  • Understand the role and functioning of SWIFT and CLS
  • Get to grips with foreign exchange and currency principles
  • Explore the mechanisms in clearing and settlement
  • Learn about liquidity management principles
  • Gain the tools for managing all risks involved
  • Understand the legal and regulatory frameworks
  • Explore the current market trends and challenges

Main topics covered during this training

  • Foreign exchange & currency principles
  • High-value global payments
  • Cross Border Retail Payments
  • Alternative Payment Arrangements & Systems (Correspondent Banking, Hawala)
  • Purpose & role of SWIFT
  • Purpose & role of CLS
  • International Payments & the Law
  • International Standards, Conventions & Principles
  • Financial Action Task Force (FATF)
  • Anti-Money Laundering
  • Global Clearing & Settlement
  • Liquidity & Treasury management
  • International trade facilitation
  • How International Trade is financed
  • Risk management, and
  • Legal & Regulatory issues
  • Challenges for corporates in international payments
  • Current and future trends
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International Payments Primer


We introduce participants to the key concepts, principles, and terms relating to international payments. Delegates are provided a fundamental understanding of the field and a foundation for comprehending more advanced or topic-specific subject matter delivered subsequently in the program.
  • The purpose of a Payment System
  • Characteristics of International Payments
  • The Payment Process
  • The Current International Payments Scene
  • Who Makes International Payments

Cross-Border Retail Payments

  • Definitions and Overview
  • Nature of Cross-Border Payments
  • Demand and Supply Sides
  • Key Features
  • Overview of the Cross-Border Retail Payments Market
  • The Demand Side

The Supply Side - Front End

  • Payment Service Providers
  • Types of PSPs of Cross-Border Retail Payment Services
  • End-to-End PSPs
  • Payment Instruments
  • Payment Cards for Cross-Border Payments
  • Service Channels and Access Points

Supply Side - Back End

  • Back-End Arrangements
  • Correspondent Banking Model
  • Interlinking Model
  • Closed-Loop/In-House/Intragroup
  • Peer-to-Peer Model
  • Use of the Blockchain
  • Contractual, Legal and Regulatory Framework

Market Preferences

  • Demand Side - Different Preferences
  • Demand Side - Expectations
  • Supply Side - Front End - Innovation, Cash preferences, challenges and standards

ISO 20022 and International Interlinking of Payment Infrastructures

  • Supply Side - Back End Messaging, Settlement, Improvements, Alternatives

Regional Integration Case Studies

  • Directo a México
  • EACHA
  • Arab Regional Payment System
  • SEPA

Interdiction & Enforcement Aspects of International Payments

  • International Payments & the Law
  • Local Laws
  • International Principles and AML Requirements
  • Financial Action Task Force (FATF)
  • Examples of Legal Payments Structures - The USA, The UK, European Union
  • Anti-Money Laundering
  • Suspicious Activities

High-Value Global Payments

  • TARGET2
  • CHIPS
  • TARGET T2-Securities

The Purpose & Role of SWIFT

  • SWIFT’s Evolution
  • Network & Transaction Volumes
  • Before SWIFT - How payments worked
  • What SWIFT is used for
  • The Role of SWIFT in Payments
  • BICs
  • Straight Through Processing
  • FIN Services - How it works
  • SWIFTNet
  • SWIFT Message Types
  • Cross Border ACH (SWIFT through a CUG)
  • The FIN Message Dissected
  • SWIFT Standards XML: Comparing FIN & XML, SWIFT Global Payments Innovation (gpi)

Global Clearing & Settlement

  • A Study in complexity
  • Settlement Under Correspondent Banking

Foreign Exchange & Currency Principles

  • Foreign Exchange (FX) Terms
  • Nostro & Vostro
  • How Foreign Exchange Works - A Case Study
  • Exchange Rates - How rates are set, Supply & Demand, International Monetary Issues, Purchasing Power Parity
  • Foreign Exchange Issues: Gold Standard, National Fiat Money, Bretton Woods, Floating Rates

Alternative International Payment Systems

  • Hawala - What it is and how it works
  • A Case Study
  • Why is Hawala used?
  • Is Hawala Legal?
  • Hawala and Money Laundering
  • How the system can be misused

Workers’ Remittances

  • What are Remittances?
  • Who are the SenderS and the Receivers?

The Purpose, Role & Operation of CLS


This section deals with risks in International payments and the role of CLS in their mitigation.


International Payments and Risk

  • Herstatt Risk
  • What are all the Foreign Exchange Risks?
  • Settlement Methods and their Effect on Risk

The Mathematics of Foreign Exchange Settlement

  • How Exposures are Measured
  • The Foreign Exchange Settlement Process
  • Projecting FX Settlement Exposures
  • Duration of FX Settlement Exposures
  • Size and Duration of Exposures
  • Payment System Operating Hours & Time Zones

Continuous Linked Settlement

  • How CLS Works
  • Benefits of CLS
  • New CLS Services
  • CLS & Correspondent Banking

Liquidity Management

  • Traditional Tools of Liquidity Management
  • Managing Liquidity
  • Managing Liquidity Within a Bank System
  • Multi-Currency Liquidity Management

International Trade Facilitation

  • The Trade Process
  • Payments Within the Trade Process
  • Payments in International Trade
  • Documentary Credits & Documentary Collections
  • Linking Goods to Documents

Guarantees & Letters of Credit

  • Guarantees - types, uses and processes
  • Letters of Credit
  • Standby Letters of Credit

International Trade Financing Methods

  • Balancing cost and risk
  • Customer financing solutions - Letters of Credit, Documentary Collection

Risk Management in FX

  • What is Risk?
  • The Size of the Problem
  • FX Risks - Some Notes Case Studies

Managing Risks

  • Enterprise Risk Management
  • Implementing a Risk Management Policy
  • Operational Risk
  • Managing Operational Risk
  • Risk Analysis
  • Risk Appetite
  • Risk Impact Vs. Frequency
  • Risk Impact Vs. Probability
  • Regulation as a Payment System Risk

Advanced Legal and Regulatory Issues

  • Achieving an Efficient International Payment Service
  • UNCITRAL and its Model Law
  • FATF and International Payments

Corporate Perspectives & Challenges in International Payments

  • What Corporates Want
  • RosettaNet

Emerging Trends

  • How International Payments are Changing
  • What the Future may Hold
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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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Operations and business staff from:

  • Commercial banks
  • Investment banks
  • Foreign Exchange dealers
  • Brokerage companies
  • Multinational corporations
  • Money Managers
  • Commodity Trading Advisors
  • Insurance companies
  • Governments
  • Central banks
  • Pension Funds
  • Hedge Funds
  • Investment companies
  • Brokers/dealers and other participants in the inter-dealer market.
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