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What are the most effective strategies for managing international banking relationships and mitigating risks?

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Managing international banking relationships can be challenging and rewarding for any bank professional. Whether you are working with clients, partners, or regulators across different countries and regions, you need to understand the opportunities and risks involved in cross-border transactions and operations. In this article, we will explore some of the most effective strategies for building and maintaining strong international banking relationships and mitigating the potential pitfalls.

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Aleksei Maslov

GM Carta Group, Member of Board of Directors, Consultant, SWIFT User Group Chairperson, Qorus Ambassador
Shakila Thassim

International Banking Proposition Manager, HSBC Sri Lanka
Oluwaseun Lijoka

Lead Non-Oil Export and Agric Business @Nova Bank Ltd

1 Know your counterparts

One of the first steps to establish a successful international banking relationship is to know your counterparts well. This means conducting thorough due diligence on their background, reputation, financial performance, regulatory compliance, and business objectives. You also need to understand their culture, preferences, and expectations, and communicate clearly and respectfully. By building trust and rapport with your counterparts, you can foster long-term cooperation and mutual benefit.

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Aleksei Maslov

GM Carta Group, Member of Board of Directors, Consultant, SWIFT User Group Chairperson, Qorus Ambassador
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I joint American Express as a full time employee in 1993. I supported American Express Bank (NY, London and Vienna teams) to establish correspondent banking relations with some key newly established financial institutions in the former Soviet Union. It was a very important part of my role, so I dedicated a lot of my time and cooperated with my colleagues from the AEB. At that time it was difficult to get a lot of information on potential partners. So I communicated with the Central Banks in the region to get more information. The result was really great, we opened a lot of accounts with a big business potential and our team got the Grand Chairman’s Award from Mr. Harvey Golub in 1995 in NY.

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2 Diversify your portfolio

Another important strategy for managing international banking relationships is to diversify your portfolio. This means spreading your exposure across different markets, currencies, sectors, and products, and avoiding over-reliance on a single or few sources of income or funding. By diversifying your portfolio, you can reduce the impact of market volatility, currency fluctuations, political instability, or other external shocks on your profitability and liquidity.

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Shakila Thassim

International Banking Proposition Manager, HSBC Sri Lanka
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As one would diversify their portfolio in their home market, international banking portfolio too should follow suit. Not only should there be funds committed in investment and growth products but also in liquid state for an emergency. Wealth hubs globally do this right.

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3 Manage your risks

Managing your risks is a crucial aspect of international banking relationships. You need to identify, measure, monitor, and mitigate the various risks that may arise from your cross-border activities, such as credit risk, market risk, operational risk, legal risk, compliance risk, and reputational risk. You also need to have contingency plans and backup solutions in case of unforeseen events or crises. Some of the tools and techniques that can help you manage your risks include hedging, insurance, guarantees, escrow accounts, and arbitration clauses.

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4 Leverage your network

Leveraging your network is another effective strategy for managing international banking relationships. This means using your existing contacts and connections to access new opportunities, markets, and resources, and to gain insights and advice. You can also expand your network by joining industry associations, trade groups, chambers of commerce, and other platforms that can facilitate networking and collaboration among international bank professionals. By leveraging your network, you can enhance your reputation, visibility, and influence in the global banking arena.

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5 Stay updated and informed

Staying updated and informed is a vital strategy for managing international banking relationships. You need to keep abreast of the latest trends, developments, and regulations that affect your international banking activities, and to adapt accordingly. You also need to educate yourself and your staff on the best practices, standards, and norms of international banking, and to comply with them. By staying updated and informed, you can avoid mistakes, fines, or sanctions, and maintain your competitiveness and credibility.

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6 Seek professional guidance

Seeking professional guidance is a helpful strategy for managing international banking relationships. You can consult experts, advisors, or mentors who have experience and expertise in international banking, and who can offer you valuable insights, tips, or feedback. You can also enroll in courses, workshops, or programs that can enhance your knowledge and skills in international banking, and help you earn relevant certifications or qualifications. By seeking professional guidance, you can improve your performance and career prospects in international banking.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Oluwaseun Lijoka

Lead Non-Oil Export and Agric Business @Nova Bank Ltd
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As a relationship manager, I prioritize transparent communication to foster trust with international clients. I continually adapt strategies by staying updated on global economic trends, conducting risk assessments, and maintaining a diversified portfolio to mitigate potential pitfalls. Regular client engagement allows me to address concerns promptly and strengthen our banking relationships.

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What are the most effective strategies for managing international banking relationships and mitigating risks?

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1 Know your counterparts

2 Diversify your portfolio

3 Manage your risks

4 Leverage your network

5 Stay updated and informed

6 Seek professional guidance

7 Here’s what else to consider

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