Perfecting your profession

The London Institute of Banking & Finance (LIBF) turned 140 years in 2019. Since it was founded in 1879 the LIBF has provided first-rate training for financial institutions and individuals and in 2013 it became a fully-fledged university college. Each year 20,000 students study its professional qualifications in the United Kingdom and more than 90 countries worldwide.

Over the last three years the LIBF has supported the EBRD’s TFP “Tools for Trade” two-day workshops delivered by trade finance expert Vincent O’Brien of the ICC. The workshops have proven to be an excellent foundation for delegates who wish to study for a formal qualification in trade finance, in particular the LIBF’s Certificate in International Trade and Finance (CITF®).

As international trade moves forward so must any associated training, and the CITF is no exception. The text for the CITF was revised extensively for 2019 and now includes chapters on supply chain finance, digital disruption and innovation, and trade-based financial crime compliance.

Interestingly, the CITF is to become an “on demand” qualification. This means that the exam may be taken at a date and time of the candidate’s choosing at one of hundreds of exam venues around the world. So if you live in Baku, Tashkent, Tbilisi or Minsk – or indeed anywhere else in the world – there will be an exam venue near you.

The LIBF has a number of other trade and transaction banking qualifications for those that wish to widen their knowledge still further.

• Certificate for Documentary Credit Specialists (CDCS®)
  This is a qualification for documentary credit practitioners to increase their understanding of the complexities associated with issuing, amending and checking documents presented.

• Certificate for Specialists in Demand Guarantees (CSDG®)
  Designed to enable demand guarantee professionals to build and apply their knowledge in issuing guarantees and standby letters of credit and processing claims.

• Certificate in Trade Finance Compliance (CTFC)
  Created to provide compliance, trade operations and client-facing personnel with technical expertise in this important area for international banks. The syllabus covers anti-money laundering, counter terrorism financing, sanctions, anti-bribery and fraud.

• Certificate in Supply Chain Finance (CSCF)
  With the exponential growth in open account trade, awareness of alternative methods of financing international trade such as factoring, invoice discounting and forfaiting are becoming vital. The CSCF examines every financing technique for supply chains.

• Certificate in Principles of Payments (CertPAY)
  CertPAY helps professionals working in the global payments industry to increase their knowledge of this specialist subject and attain an internationally recognised qualification.

Many finance professionals study for the LIBF’s qualifications. Some simply want to develop their expertise in their chosen specialism. Some will value their professional title of, for example, Certified Documentary Credit Specialist, and the opportunities it brings for career development. Employers will often encourage their employees to study these courses because it adds real value to the business. So however you decide to develop yourself and your career, good luck with your studies!

More information on all of these qualifications can be found at
www.libf.ac.uk/study/professional-qualifications/trade-finance