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Managing Settlement Risk in FX Operations
- Basic foreign exchange principles
- Foreign exchange settlement risk
- Correspondent banking.
- How CLS reduces foreign exchange settlement risk
- Detailed case study - foreign exchange operational risk
- Foreign exchange best practices
- The foreign exchange process flow
Overview of the webinar
- Understanding foreign exchange operational risks and why they are different 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 foreign exchange operational risks
Who should attend?
- Operations and business staff at all levels involved in any aspect of foreign exchange.
- Foreign exchange dealers and brokerage companies
- Compliance Managers & Officers
- Compliance Analyst/Investigators
- Registered Investment Advisors
- Due Diligence staff
- Corporate Management
- Directors
- CEOs
- CFOs
- Asset Managers
- Finance Officers
- Stock Transfer Secretaries
- Money managers
The following business segments are included;
- 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
- Foreign exchange dealers and brokerage companies
Why should you attend?
- This course provides a solid foundation for all parties involved in foreign exchange into how the actual trading processes work, what the risks are and how these can be managed by using clearly defined standards of best practice
- The last two decades have seen the diversification and massive expansion of the foreign exchange market
- Foreign exchange dealing is wide-ranging and includes commercial banks, investment banks, foreign exchange dealers, brokerage companies, multinational corporations, money managers, commodity trading advisors, insurance companies, governments, central banks, pension, and hedge funds, investment companies, and other participants in the interdealer market
- The increased complexity of the market, as well as higher trade volumes, have necessitated constant changes in trading procedures, trade capture systems, operational procedures, and risk management tools
- In Foreign Exchange operations, risk management is especially critical because many of the day-to-day operational risks are not well understood
- This course represents 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
Faculty - Mr.Stanley Epstein
Stanley Epstein has a Master’s in Economics, which he earned with a dissertation on financial innovation, and a Bachelor’s in Accounting. He has had extensive experience in banking and IT specifically the operations, payments, RTGS and the operational risk aspects of banking in the UK, Europe, the USA, Australia and Southern Africa. His bank-operations, payments systems, operational risk, and clearing house experience is wide ranging and includes working closely with organizations such as UNCITRAL, Deutsche Bank and CHIPS in New York; APACS, British Bankers Association, CLS and Barclays Bank in London; Crédit Agricole in France; UBS and Credit Suisse in Switzerland, the central bank in the Netherlands; Alpha Bank in Greece; the central bank in Romania; the central bank in Kazakhstan; Bank Leumi and the central bank in Israel; the Standard Bank, Clearing Bankers Association; Bankserv and the central bank in South Africa and ANZ and Commonwealth Bank in Australia.
Commencing his career at the Standard Bank of South Africa he gained a thorough grounding in all aspects of banking ranging from the bank’s branch system, back-office payments processing. He was also closely involved in the development of electronic banking at the Standard Bank. At a banking industry level he was involved in the creation and development of STRATE (Central Securities Depository) in South Africa dealing with the dematerialization, clearing and settlement of all financial instruments in that country. He also served as Vice Chairman of the South African Clearing Bankers Association’s ERAG Group (an interbank payments/operations risk initiative established to identify and eliminate operational, legal and other risks in electronic payments) and later as Chairman of the Payments Association of South Africa Operational Risk Committee.
On leaving South Africa he joined Fundtech Corporation, a leading provider of financial technology based in the US.