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UCP 600

UCP 600. Training Issues Derek Ennis, CEO, Coastline Solutions. The Problem/Challenge. The new rules will impact on ALL aspects of LC operations Advising Issuing Confirming Doc checking and Compliance All staff need to be trained Operations Sales Legal Trainers

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UCP 600

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  1. UCP 600 Training Issues Derek Ennis, CEO, Coastline Solutions

  2. The Problem/Challenge • The new rules will impact on ALL aspects of LC operations • Advising • Issuing • Confirming • Doc checking and Compliance • All staff need to be trained • Operations • Sales • Legal • Trainers • Multiple locations – Global, Regional, Local? • Customers – does the bank have a responsibility? Opportunity?

  3. The Problem/Challenge • Materials on the subject matter do not exist • Seminars, Conference materials, Courseware, Experience, Notes etc. • For UCP 500 you had materials to draw from. For UCP 600 you don’t • Multiple offerings will appear – • What’s good? What’s not? • Who’s good? Who’s not? • How do you roll it out? • Time is limited…6 to 9 month rollout period

  4. Issues to consider • Quality of training • Training from a reputable source • Presentation/Delivery • Consistency of training • Consistent delivery across organisation • Consistent application of training when on the job • Audit • Who took the training vs who should have taken the training • How did they do? Evaluation of effectiveness of selected methods

  5. Issues to consider • Scheduling • Trainer’s time • Trainees’ time (away from work) • Classrooms • Travel • … All within time constraints • Budgets • Have you planned your budget for this? When to do this?

  6. Options • In house training • By in house staff • By external consultants • Training events organised by others • ICC Paris • IFSA • ICC National Committees • IIBLP • Independent Consultants • Banking • … • Online training • Developed in house • Off the shelf • On the job training

  7. Online training • Advantages of Online Training • Anytime, any place training • Consistency of training • Learner determines pace • No Scheduling headaches • No travel costs • Reduced dependence on senior staff to support repetitive training.

  8. Our offerings • Upskill 600 • Mentor 600

  9. Upskill 600 Train experienced LC staff - what has changed in UCP 600 • Full Article by Article comparison of 500 to 600 • Structured multimedia training in Key Issues • Online Assessment to test knowledge Benefits • Personalised Certificate on Completion • ICC Approved • PDUs towards CDCS recertification Available November 2006

  10. Mentor 600 Full UCP 600 training course for new LC staff • Assumes no prior knowledge • Full training in all articles of UCP 600 • Interactive training modules • ICC Approved • Personal assessments and results

  11. Key points • Start planning now • Quality • Consistency • Timing • Cost – Spend your $$$ sensibly

  12. Thank You Derek Ennis Coastline Solutions Derek.Ennis@CoastlineSolutions.com

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