8:30 – 9:00 Registration & Check-In
9:00 – 9:15 Welcome & Opening Remarks
Michael BYRNE (IIBLP)
9:15 – 9:40 The Professor James E. Byrne Memorial Keynote Address:
Alan KETLEY (Executive Secretariat of The Wolfsberg Group)
9:40 – 10:30 Latest News and identified Trends in Trade and TBFC
Overview of the top news stories, trends and developments.
- Cryptocurrency: Time to sit at the Big Table
- Fraud and knowing your customer
- Wolfsberg - guidance on best practice for correspondent banking RFIs
- Vessel Monitoring: The Latest + Bangladesh Requirements
- Increased regulatory focus on AML and FIs
- How effective are AML regulations?
- ESG Reporting Requirements
- Green washing from illegal activities
- Managing Shipping & Vessel Risks
Moderator: Lorna STRONG (HSBC)
Panellists: Byron McKINNEY (S&P Global); Alexander MALAKET (Opus Advisory)
10:30 – 11:00 Coffee & Networking Break
11:00 – 11:45 KYC & Beneficial Ownership: Safe Parties = Safe Transactions
Your sanctions compliance program starts and ends with knowing what is under your customers fingernails. New transparency rules prevent hiding beneficial ownership in “data vaults” like Delaware, ensuring you do not run afoul of government SDN lists.
Topics include:
- Beneficial Ownership and Legal Entity Identifier (GLEIF) use
- Regulated BO databases – Singapore?
- Delaware: the blackhole of BO no longer
- Transactions, pricing and HS Codes
- Onboarding New Customers: Can we make it easier?
- Understanding what you should know about your customers and their related companies
- What do the Wolfsberg principles say about KYC?
- KYCC – limitations of cross border privacy laws
- Supply Chain Finance platform/service providers – onboarding limitations
Panellists: John BARANELLO (Lloyds); Ehsan VALIPAY (Guidehouse); Laurent CORBEL (Host: Hoisting the Sail); Samantha WELCH (Guidehouse)
11:45 – 12:10 The role of ESG and Compliance
Green finance and sustainability in trade and trade finance are now key business and financing drivers.Environmental and Social issues are a concern to banks, their customers and consumers in general. What does this mean for ESG within a bank and how does a bank incorporate E&S governance (ESG) into their compliance programme?
- Why do Banks care about Environmental and Social Issues
- Green Finance – opportunities and risks – Greenwashing
- International ESG Standards and Guidelines
- Declarations, reporting and regulations
- Resources, overlap and responsibilities
Panellists: Lorna STRONG (HSBC) & Alexander MALAKET (Opus Advisory)
12:10 – 12:30 Crypto: The New Frontier
Cryptocurrencies feature regularly in the press for a wide range of reasons – good and bad. Increasingly this year we have seen them highlighted as a tool to commit financial crimes. This panel will look at how FIs can assess the various risks in transactions where crypto has a role.
Panellists: Andrew FIERMAN (Chainalysis)
12:30 – 1:30 Lunch Break
1:30 – 2:30 Fintech Helping to Digitize Trade & Compliance
FIs are facing a number of industry-specific challenges in the coming years, including the upcoming “skills cliff”, the increasing costs of trade compliance, and the unique challenges of scaling trade business. Break-throughs technologies are required to check documents more efficiently, and JPMorgan will share how they are solving this challenge with their technology partner ClearEye.
Moderator: Michael BYRNE (IIBLP)
Panellists: Mariya GEORGE (Cleareye.ai); Tom FITZGERALD (JPMorgan); Charlotte FRYER (JPMorgan)
2:30 – 3:30 Trade Sanctions
Trade Sanctions play an important role in international foreign policy. Sanctions exert pressure on persons, organisations, or political regimes to comply with the law or policy of the state or the organisation imposing the sanctions. As a Bank, providing trade financing or involvement in a trade transaction that includes a sanctioned ‘entity’ is a big NO-NO. Adherence to sanctions is critical for all Banks involved in trade finance and non-compliance can result in severe penalties.
- The Russian / Ukranian Conflict
- Lack of resources
- Ethiopia and the 50% Rule
- Supply Chain Due Diligence
- Chinese Anti-sanction Law
- Iran
3:30 – 4:00 Coffee & Networking Break
4:00 – 5:00 Trade Fraud & Money Laundering
Fraud and money laundering go hand in hand. Let’s defund these fraudsters who obtain multiple financing on the same goods, and study tools available to prevent it. Listen as our panelists discuss leading practices for your AML team to spot these ill-gotten gains, and the tools and resources available to strengthen your AML program.
- AML Act of 2020 – No More “Black Hole of Delaware”
- Data sharing and analytics between countries
- Multiple Invoice Financing for Goods
- Complicated STR/SAR filings drive TBML: time for Standards?
- Dual Use Goods and Pricing: to report or not to report?
Moderator: Ben ARBER (MonetaGo)
Panellists: Alexander MALAKET (Opus Advisory); Ed STOLTENBERG (trade banker)
5:00 – 5:15 Wrap Up, Closing Remarks and Lucky Draw
In closing we will look at the key takeaways along with a quick Q&A with the Conference Committee.
- Key takeaways from the Conference
- Certificate in Trade Finance Compliance (CTFC)
- The Association of Trade Finance Compliance Professionals
- Q&A – Conference Committee
