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Banking on a global turf

The world is groping for the most appropriate international banking system. International banking is about banking services provided to residents in foreign countries from offices located in the home country.

Banking on a  global turf


Amit Goyal

The world is groping for the most appropriate international banking system. International banking is about banking services provided to residents in foreign countries from offices located in the home country. This also includes  services of proprietary trading on behalf of customers without establishing a foreign presence. An international bank could help you meet your banking needs by providing you essential services and assistance. Anyone who has extensive business dealings in foreign countries or is trying to expand into the foreign marketplace would require services of an international bank.  

Need for overseas banking

International banking is required to be able to work in other countries. Each country has its own set of complex regulatory laws. International banking falls in the domain of cross-border trade, be it of commodities, currencies, equities and bonds. International banking facilitates you convert or exchange your currency, and  make and receive payments for your goods and services. Banks with global presense usually have a dedicated international banking department.  

Sectors and scope 

There are several forms of international banking structures and relationships. For example, a correspondent bank provides services for another bank. The bank neither has an ownership interest nor any control over the other. They just engage in a mutually beneficial relationship. 

Qualification required

Although the specific education varies on the basis of work profile, most employers will require that you have an undergraduate or graduate degree in a field related to banking or management.

Experience and expertise

The basic experience required is five years or more in progressive banking industry. Post Graduation in banking and finance helps if you plan on taking this route. The banking and other financial institutes offer management training programmes for university graduates who wish to become bankers. Although, basic qualification will be a university degree in business, economics, finance, management or marketing.

Remuneration 

Banking is a highly lucrative field. A candidate can begin the career by earning Rs 50,000 per month and with experience salary only gets better. 

NRI banking officer 

The NRI banking officers are responsible for the formation of new business and maintenance of professional relationships with clients. She makes calls to prospective clients and proposes sales presentations to clubs, organisations, groups, associations and other companies. She usually implements the financial solutions to meet the requirements of the NRI customers and ensure value-added customer service. She manages  accounts of existing NRI customers and enhancing customer profitability by capturing the larger share of wallet. 

NRI RM further strengthens relationships with existing customers through emails and phone calls and shares insights on the fluctuations in interest rates, exchange rates and various product offerings. 

Different Domains

Several domains fall under the international banking sector. Some of these are: 

  • International trade officer 
  • International trade specialist has major responsibilities of coordinating credit and financial activities. The employee acts as an advisor on matters of tariffs markets, federal and foreign regulations. International trade specialist ensures that paperwork and letters of credit are according to trade laws. 
  • The specialist gets an opportunity to work on diverse concepts, practices and procedures, thereby getting a vast professional exposure. 
  • The officer will closely work with managers or head of departments. 

Forex officer

Forex officer assists clients in understanding and capitalising on foreign currency markets by giving them information on exchange rates and insights into global markets. She makes forecasts, provides in-depth analysis of market and makes trade recommendations based on her findings. The forex exchange officer maintains and monitors the records of a bank’s funds. She keeps a check on deposits in the foreign and outstanding purchase and sales contracts and lists the cash totals in the holdover register. She  also reviews the records to determine when balances need replenishing.

— The writer is director of TKWS Banking and Finance

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