Certified International Payment Systems Professional (CIPSP) Course Overview

Certainly! To ensure that potential learners are prepared for the Certified International Payment Systems Professional (CIPSP) course, the following minimum prerequisites are recommended:

• Basic understanding of financial services and banking operations
• Familiarity with common banking terms and concepts
• Interest in payment systems and the mechanics of financial transactions
• Basic knowledge of information technology, especially as it pertains to financial applications
• Awareness of global payment systems and currencies
• Willingness to learn about compliance, risk management, and regulatory frameworks
• Some exposure to or understanding of the use of cryptocurrencies and digital payment methods

Please note that while having some background in finance or banking is helpful, the course is designed to provide comprehensive training, so beginners with a keen interest in the subject matter should not be discouraged from enrolling.

Target Audience for Certified International Payment Systems Professional (CIPSP)

The Certified International Payment Systems Professional (CIPSP) course is designed for professionals handling global payment operations and regulations.

• Payment Systems Managers
• Banking & Financial Services Professionals
• Compliance Officers
• Risk Management Specialists
• Treasury Managers
• Financial Analysts
• IT Professionals in Banking Sector
• Operations Staff in Financial Institutions
• International Trade Finance Officers
• Cryptocurrency Consultants
• SWIFT Operations Personnel
• Foreign Exchange Officers
• Regulatory and Policy Compliance Staff
• Financial Software Developers
• FinTech Entrepreneurs
• Business Consultants specializing in banking and payments systems

Learning Objectives - What you will Learn in this Certified International Payment Systems Professional (CIPSP)?

Introduction to the Certified International Payment Systems Professional (CIPSP) Course Learning Outcomes:

The CIPSP course equips participants with a comprehensive understanding of global payment systems, risk management, regulatory impacts, and the evolving landscape of digital transactions.

Learning Objectives and Outcomes:

• Understand the role and importance of payment and settlement systems in the global financial infrastructure.
• Identify and explain the three key elements of payment systems: message, clearing/netting, and settlement.
• Learn the transition from paper-based to electronic payment systems including check truncation and remote deposit capture.
• Gain insights into various payment processing methods and the evolution of mobile and cryptocurrency payment options.
• Comprehend the reasons behind banks making payments, including own account and customer transactions.
• Assess the different types of risks associated with payment systems such as Herstatt risk, credit risk, liquidity risk, systemic risk, and operational risk.
• Develop knowledge of risk mitigation techniques, including the roles of central counterparties and collateral management.
• Explore relationship structures in banking such as correspondent banking and network-managed banking.
• Differentiate between various payment types and systems, including RTGS, net settlement, and hybrid settlement, and understand their applications.
• Analyze regional payment systems across different geographies and understand their unique characteristics.
• Delve into the use of cryptocurrencies for payments, understanding the underlying blockchain technology and its implications.
• Learn about SWIFT messaging standards (MT and MX messages), their role in payment systems, and how corporates utilize SWIFT.
• Understand the application of international codes such as IBAN, BIC, and ABA routing codes in facilitating accurate and efficient payments.
• Gain a perspective on foreign exchange transactions from a payment system viewpoint, including exchange rate determination.
• Evaluate the impact of regulations including the Basel Committee guidelines, FATF/OFAC, Wolfsberg Group, FATCA/GATCA, and AML compliance on payment systems.