Implementing Operational Risk in Foreign Exchange Activities

Instructor: Stanley Epstein 
Product ID: 704115
Training Level: Intermediate
  • Duration: 90 Min

recorded version

1x Person - Unlimited viewing for 6 Months
(For multiple locations contact Customer Care)
Recorded Link and Ref. material will be available in My CO Section
Last Recorded Date: Dec-2016

Training CD / USB Drive

One CD/USB is for usage in one location only.
(For multiple locations contact Customer Care)
CD/USB and Ref. material will be shipped within 15 business days

Customer Care

Fax: +1-650-362-2367


Read Frequently Asked Questions

This training program will discuss basic foreign exchange principles, foreign exchange best practices, the foreign exchange process flow, and general best practices for managing foreign exchange operations risk.

"Implementing Operational Risk in Foreign Exchange Activities" - This course is approved by NASBA (National Association of State Boards of Accountancy). Attendees of Live Webinar are eligible for 1.5 CPE credit up on full completion of the course.

Why Should You Attend:

This intensive course will detail how FX trading processes work, what are the risks and how these can be managed and mitigated effectively. This highly interactive course will comprise of PowerPoint presentations, case studies, multidirectional discussions and exercises.

The foreign exchange market is the largest and most liquid sector of the global economy. According to a survey conducted by the Bank for International Settlements, foreign exchange turnover averages over $5.5 trillion per day. Put another way in three days foreign exchange turnover is sufficient to cover world trade in a year.

The increased complexity of the market plus higher trade volumes have necessitated constant changes in trading procedures, trade capture systems, operational procedures, and risk management tools.

This course will provide a solid foundation to all parties involved in foreign exchange activities whether at 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.

Learning Objectives:

  • Basic Foreign Exchange Principles
    • How foreign exchange operates.
    • What does the jargon mean – we explore foreign exchange definitions.
    • Foreign exchange settlements – Correspondent banking and Continuous Linked Settlement (CLS).
  • Case Study. 'NAB - A bank, a foreign exchange trading system and operational risk'. This case study illustrates all the aspects of operational risk and is drawn from recent events in a major bank's trading division.
  • Foreign Exchange Best Practice; how these practices may also help to reduce the level of risk in the foreign exchange market
  • The Foreign Exchange Process Flow
    • Pre-trade preparation
    • Trade capture
    • Confirmation
    • Netting
    • Settlement
    • Nostro reconciliation
    • Accounting & financial control processes
  • General Best Practices for Managing Foreign Exchange Operations Risk

Areas Covered in the Webinar:

  • Foreign exchange – restating the 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 – National Australia Bank
  • 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

Who Will Benefit:

  • Operations and business staff at all levels involved in any aspect of foreign exchange
  • Staff from commercial banks
  • Investment banks
  • Foreign exchange dealers and brokerage companies
  • Multinational corporations
  • Commercial firms
  • Import/export firms, brokers and agents
  • Stock transfer secretaries
  • Money managers
  • Commodity trading advisors
  • Insurance companies
  • Government and central banks
  • Pension and hedge funds
  • Bank/financial institution managers
  • Compliance managers/analyst/investigators
  • RIA management
  • Registered investment advisors
  • HR and payroll
  • Accountants
  • Due diligence departments or individuals
  • Other financial intermediaries
  • Corporate management
  • Directors, CEOs, CFOs
  • Asset managers
Instructor Profile:
Stanley Epstein

Stanley Epstein
Company Director & Principal Associate, Citadel Advantage

Stanley Epstein has a master’s degree in economics which he earned with a dissertation on financial innovation and a bachelor of commerce degree 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.

Topic Background:

The foreign exchange market serves as a primary mechanism for making payments across borders, transferring funds, and determining exchange rates between different national currencies.

The last decade has 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.

We are registered with and adhere to the Statement on Standards for Continuing Professional Education programs of the National Registry of CPE Sponsors. Our registration number is 109066. Please check with the governing body of your license and state for specific CPE requirements. Grievances may be forwarded to the company at 650 620 3961. Grievances may also be forwarded to the National Registry of CPE Sponsors-NASBA, 150 Fourth Avenue North, Suite 700, Nashville, TN 37219-2417, 615-880-4200,, e-mail

Field of Study Minutes CPE
Administrative Practice 10 0.2
Behavioral Ethics 5 0.1
Business Management & Organization 10 0.2
Social Environment of Business 15 0.3
Specialized Knowledge and Applications 35 0.7
Total Duration - 90 Min Total Credits - 1.5

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Refund Policy

Registrants may cancel up to two working days prior to the course start date and will receive a letter of credit to be used towards a future course up to one year from date of issuance. ComplianceOnline would process/provide refund if the Live Webinar has been cancelled. The attendee could choose between the recorded version of the webinar or refund for any cancelled webinar. Refunds will not be given to participants who do not show up for the webinar. On-Demand Recordings can be requested in exchange.

Webinar may be cancelled due to lack of enrolment or unavoidable factors. Registrants will be notified 24hours in advance if a cancellation occurs. Substitutions can happen any time.

If you have any concern about the content of the webinar and not satisfied please contact us at below email or by call mentioning your feedback for resolution of the matter.

We respect feedback/opinions of our customers which enables us to improve our products and services. To contact us please email call +1-888-717-2436 (Toll Free).

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