Trade finance is constantly evolving, and staying ahead requires both a deep understanding of the fundamentals and an awareness of emerging risks. To help trade finance professionals navigate this complex landscape, we’ve introduced a new qualification, the Level 4 Certificate in International Trade Risk (CITR).
We sat down with Alex Gray, LIBF’s Director of Trade and Transaction Banking, to discuss why this qualification was created, who it’s for, and how it can benefit your career.
Addressing specific industry needs
Q: Why did LIBF decide to introduce the Level 4 Certificate in International Trade Risk (CITR)?
The initial idea for CITR came from our partners at the China Council for the Promotion of International Trade (CCPIT). We discussed the concept with other stakeholders and conducted market research, which confirmed the demand for additional education around trade risk. It had been a while since we introduced a new qualification, our last one was in 2018, so the timing was right.
Trade risk is a complex area of banking and requires proper expertise. More and more leading banks are recognising this, by creating specific trade risk functions to support with trade credit decisions. We want to support industry professionals to leverage career opportunities and position themselves as experts within this field.
Q: What specific benefits will CITR provide to trade professionals?
Trade finance is a specialised area within banking, and within that specialisation, risk management is critical. CITR has been developed to bridge the knowledge gap between trade finance and risk management. It’s designed for trade professionals who need a deeper understanding of risk, and for risk professionals who need to become more conversant with trade finance. This dual focus makes CITR a unique and valuable qualification in the current education and training landscape.
Industry-focused learning
Q: How will CITR equip professionals with the necessary skills and knowledge to navigate evolving risks?
Trade professionals today face a wider array of risks than ever before. For instance, ESG risk has become mainstream, whereas five years ago it was barely on the radar. CITR addresses these evolving risks by providing up-to-date knowledge and practical skills. It’s aligned with the latest trends in the global trade sector, ensuring that professionals are well-equipped to handle the complexities of international trade risk.
This industry-focused qualification offers real-world, tangible benefits for those working within trade finance, empowering them to navigate and mitigate the multifaceted risks they encounter in their roles.
Q: Can you elaborate on how CITR's curriculum was developed to meet the needs of trade professionals?
The development of CITR’s curriculum has been guided by some of the foremost experts in trade finance, ensuring that it meets the highest industry standards and addresses the latest challenges faced by professionals in the field.
Here’s a short summary about the authors and collaborators of CITR.
Olumuyiwa Damilola Esan, a trade finance consultant with over 16 years of experience, has shaped the curriculum with his expertise in risk management and regulatory compliance.
Jun Xu, with over 31 years of experience and involvement in international trade finance organizations, ensures the curriculum aligns with global standards.
Peter Milne, who spent 40 years with HSBC, has contributed his extensive knowledge in corporate banking and trade finance education.
These experts have created a curriculum that addresses current trends and challenges and includes innovative features like interactive learning modules and real-world case studies, making CITR a valuable tool for trade professionals.
Studying CITR
Q: What unique features or components sets CITR apart from other similar programmes?
As with all our trade and transaction banking qualifications, CITR will be available to study online, from anywhere in the world – at any time! This greatly increases the accessibility of skill and career advancement for many learners globally.
Q: What support does LIBF provide for those who enrol in CITR to ensure their success in mastering trade risk management?
To ensure you’ve gained a core understanding of the terminology, roles, responsibilities, and products that underpin international trade finance, CITR offers a robust and engaging curriculum. You'll dive into interactive case studies that let you analyse and devise strategies to tackle various risks, from trading parties and settlement methods to bank security options.
The course includes interactive knowledge checks to reinforce what you've learned and multimedia elements that make complex ideas clear and engaging. Plus, there are plenty of opportunities throughout to reflect on how the material applies to your own work.
By enrolling for CITR, you’ll become a Member of LIBF, gaining access to career support and professional networking events. Through your studies, you'll not only enhance your skills but also connect with a community of trade finance professionals.
Career enhancing tool
Q: Anything else you want to share about CITR?
CITR has been designed to be a career-enhancing tool that you can use to show you have the knowledge and skills to manage risks effectively in today’s complex global environment. Whether you’re looking to deepen your expertise in trade finance or expand your understanding of risk management, CITR offers the comprehensive education you need to stay ahead.
CITR will be available to study from 24 June 2024.
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