What past delegates say?
About the Trainer
"Richard was superb”
Former Delegate, Gulf International Bank
“ Thank you very much. You made it so easy and funny and I learnt a lot!’
Former Delegate, Abu Dhabi Council
“Very enthusiastic and personable trainer”
Head of the Department, SG Hambros OpRisk
In-Company, call us for more information
This practical 2 day 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 the 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:
Main Topics Covered During This Training
Who Should Attend
Operations and business staff from:
and other participants in the inter-dealer market.
In-Company, call us for more information
Group discount: 2 people - 5% discount, 3 people - 10% discount. Delegates have to be from the same company and register at the same time in order to claim the discount.
International Payments Primer
- The purpose of a Payment System
- Characteristics of International Payments
- The Payment Process
- The current International Payments Scene
- Who Makes International Payments
Low-Value Global Payments
- Payment Methods – Electronic Transfers, International ACH, Paper Based Methods, Cards,
International ACH Services
- What is an ACH?
- How ACH’s work – Credits and Debits
- The Global ACH Concept
- Global ACH Examples – FedACH, ACH via SWIFT, SEPA, Proprietary Bank Systems
- International Payments Framework Initiative
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
Requirements for Cross-Border ACH Payments
- The Business Case for Cross-Border Payments
- Criteria for Cross Border ACH
- Economic Considerations
High-Value Global Payments
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
- Straight Through Processing
- FIN Services – How it works
- SWIFT Message Types
- Cross Border ACH (SWIFT through a CUG)
- The FIN Message Dissected
- SWIFT Standards XML
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
- 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
- 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
Risk Management in FX
- What is Risk?
- The Size of the Problem
- FX Risks – Some Notes Case Studies
- 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
- How International Payments are Changing
- What the Future may Hold
Richard holds a B.S. in International Business Administration from San Jose State University in California.
His 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, Euroclear and Tullet Prebon amongst others.
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