Key Factors in Managing Settlement Risk in Foreign Exchange Operations
  • CODE : STEP-0003
  • Duration : 90 Minutes
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Stanley is a Principal Associate and Director of Citadel Advantage Ltd. Since 2001 Citadel Advantage has been working with banks and financial institutions to make them safer and more profitable, through consulting and training, specifically in the key areas of Governance, Risk Management, and Compliance.

Stanley has over 40 years of banking and IT experience, 33 of which were with the Standard Bank of South Africa where during the 1990s he filled an industry-level role holding several key positions including that of Chairman of the PASA Risk Committee. He also represented South Africa at two sessions, in New York, of UNCITRAL (the United Nations Commission on International Trade Law).

He holds a Master's Degree in Economics and a Bachelor of Commerce (BCom.) degree, both from the University of South Africa, Pretoria. Stanley has had extensive exposure to banking practice and banking operations in a number of countries including the USA, United Kingdom, South Africa, Israel, Europe, and Australia. He has also acted as advisor to a number of central banks on payment systems, oversight, policy, and payment risk issues. More recently, he spent time in the high-tech sector as a payment systems designer and consultant to a global payments software developer.

Since 2000 we have seen the diversification and massive expansion of the foreign exchange market. While in the past, commercial banks dominated the market; participants today also include commercial as well as investment banks, foreign exchange dealers and brokerage companies, multinational corporations, money managers, commodity trading advisors, insurance companies, governments, central banks, pension, and hedge funds, investment companies, brokers/dealers, and other participants in the interdealer market. The increased complexity of the market plus the higher trade volumes have necessitated constant changes in trading procedures, trade capture systems, operational procedures, and risk management tools.

This webinar will provide a solid foundation to all parties involved in foreign exchange activities whether at the executive, marketing, audit, or operational levels, into how the actual trading processes work, what the risks are and how these can be mitigated by using clearly defined standards of best practice

  • Understand what the Foreign Exchange operational risks are and why they differ from other operational risks
  • Discover what the operational risk management principles are and what they cover
  • Examine the various implementation issues that are involved in effectively managing operational risks in Foreign exchange activities
  • Distinguish the different kinds of operational risks as well as their sub-components that are unique to foreign exchange transactions
  • Find out what key elements are involved in managing these foreign exchange operational risks

Areas Covered    

  • Foreign Exchange – restating basic principles  
  • Foreign Exchange settlement risk – the weak link in the chain
  • CLS Bank and the reduction of foreign exchange settlement risk
  • Foreign Exchange Operational Risk Case Study 
  • Foreign Exchange best practices
  • The Foreign Exchange Process Flow - the seven stages of foreign exchange trade and settlement, and the best practice in each stage. Foreign Exchange–restating basic   principles 
  • Foreign Exchange settlement risk – the weak link in the chain
  • CLS Bank and the reduction of foreign exchange settlement risk
  • Foreign Exchange Operational Risk Case Study 
  • Foreign Exchange best practices

The Foreign Exchange Process Flow - the seven stages of foreign exchange trade and settlement, and the best practice in each stage.

Course Level - Advanced

Who Should Attend

  • Operations and Business Staff at all levels involved in any aspect of foreign exchange
  • Foreign Exchange Dealers and Brokerage Companies
  • Multinational Corporations
  • Commercial Firms
  • Import/Export Firms
  • Import/Export Brokers and Agents
  • Stock Transfer Secretaries
  • Money Managers
  • Commodity Trading Advisors
  • Insurance Companies
  • Government and Central Banks
  • Pension and Hedge Funds
  • Compliance Managers
  • Compliance Analyst/Investigators
  • RIA Management
  • Registered Investment Advisors
  • Due Diligence Departments or Individuals
  • Corporate Management
  • Directors, CEOs, CFOs
  • Asset Managers
  • Finance Officers

Why Should You Attend

The effective management of risk is an important aspect of all business activities. In Foreign Exchange operations, risk management is even more critical because many of the day-to-day operational risks are not well understood. Not understanding one's “enemy” is a sure prescription for disaster.

This webinar provides a practical approach to explaining the unique risks in foreign exchange operations, as well as how to implement an effective operational risk management system for these transactions.

  • Can you distinguish between the different types of operational risks in the operations of foreign exchange?
  • Can you define Operational Risk?
  • Can you explain the foreign exchange process in detail?
  • Are you able to identify procedures for introducing new products, new customer types, or new trading strategies in the foreign exchange field?
  • Do you understand how the Continuous Settlement Process operates and why it is a primary method for reducing foreign exchange settlement risk?
  • If you do not know the answers to any of the above questions or if you are unsure, then this webinar is for you
  • $200.00



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