Committees and Working Groups

Name Description Participation Staff Contact
BAFT - Asia Trade Finance Committee The Asia Trade Finance Committee addresses the interests of BAFT Asia-based members seeking to optimize the role they play in supporting their clients’ open account and traditional trade finance activities. This includes trade financing, transaction processing, payments, and associated regulatory compliance concerns. The committee provides the opportunity for participants to engage in dialogues on market practice and develop best practices within the banking industry that can be leveraged across stakeholders in trade finance. Participation: Open. Meets every other month. Open. Meets every other month. Steve Nichols ([email protected]) Scott Stevenson ([email protected])
BAFT - Commercial Letters of Credit Committee The Commercial Letter of Credit Committee focuses on issues and responds to questions that directly impact the processing environment related to commercial letters of credit. The committee provides comments on various ICC rules, practices and queries related to commercial letter of credit operations. The Commercial LC Committee also develops input, case study material, speakers and oversight to the LC workshops as well as applicable participation in conference sessions on Trade. Additionally, the committee supervises and supports the on-going work of the regional sub-committees: West Coast Letters of Credit, Southeast Letters of Credit, and Central Letters of Credit. Subject to eligibility. Meets monthly. Participation in Regional Subcommittees: Open. Shawn Haynes ([email protected])
BAFT - Global Regulatory Affairs & Public Policy The Global Regulatory Affairs & Public Policy Committee provides subject matter expertise to BAFT staff on legislative and regulatory matters important to the general membership of BAFT. Participation: Open to all members who lead regulatory or government affairs. Meets on an ad hoc basis. Open to all members who lead regulatory or government affairs. Meets on an ad hoc basis. Diana Rodriguez ([email protected])
BAFT - IBOR Transition Working Group The IBOR Transition Working Group assesses the implications of IBOR transition for transaction banking and develops industry priorities to present to reference rate committees across various geographies Open to all bank members. Diana Rodriguez ([email protected])
BAFT - Legal Advisory Group The Legal Advisory Group provides legal advice for the vetting and creating of products and ideas that affect the industry. The group provides advice on how and whether to proceed on various projects and initiatives and advance the discussion on industry best practices. Meets on an ad hoc basis. Nancy Monahan ([email protected])
BAFT - Membership Committee The BAFT Membership Committee is established under the aegis of the board of directors, and is responsible for oversight of membership policy, development of member recruitment and retention strategy, approval of new members, and guidance regarding changes to membership benefits or dues. Subject to eligibility. Nancy Monahan ([email protected])
BAFT - Payments Committee The Payments Committee monitors and addresses national, regional, and global payments issues, especially those involving high-value, cross-border payments. The committee follows compliance requirements related to payments, including AML/CFT and sanctions. It covers significant changes to payments formatting and processing. The committee also discusses the development and management of funds transfer products. The committee interacts with the key messaging and payment system operators to ensure it keeps abreast of and communicates changes in their processes, rules, and standards. The committee assists the industry in the formulation of policy positions and shares industry best practices related to payments. Finally, the committee oversees and updates the BAFT Interbank Compensation Rules. Subject to eligibility. Meets monthly. Deepa Sinha ([email protected])
BAFT - Solution Provider Committee The Solution Provider Committee is open to all BAFT non-bank members and addresses issues that are unique to the solution provider community. Areas of committee focus are avenues for sharing information with BAFT financial institution members and participation in BAFT conferences, workshops, and working groups. Open. Meets on an ad hoc basis. Matthew Kaitz ([email protected])
BAFT - Standby Letter of Credit/Guarantee Committee The Standby Letters of Credit Committee is an operations-oriented committee focused on issues that directly impact the daily processing environment related to standby letters of credit. The committee provides comments on all ICC rules, practices, and queries related to standby letter of credit operations. Subject to eligibility. Meets monthly. Shawn Haynes ([email protected])
BAFT - Structured Trade/Export Finance Committee The Structured Trade/Export Finance Committee focuses its efforts on structured trade finance, commodity finance, international credit risk developments, legislation and export credit agency actions that could impact the members’ ability and willingness to finance structured trade transactions. The committee’s work focuses on trade finance products, export credit agencies, activities of the international financial institutions, such as members of the World Bank group, and private insurance. Open. Meets on an ad hoc basis. Scott Stevenson ([email protected])
BAFT - Supply Chain Finance Committee The Supply Chain Finance Committee plays an integral part in defining the role of global financial institutions in the banking aspects of the global supply chain by aligning financial supply chain strategy to business strategy. The committee’s mission is to identify early issues of importance to trade bankers and attempt to shape those issues to support the strategies of commercial banks. Open. Meets every other month. Scott Stevenson ([email protected])
BAFT - Trade Compliance Committee The Trade Compliance Committee monitors and addresses compliance issues that directly impact the trade finance functions of financial institutions. The Committee assists in developing industry positions and comments on compliance issues affecting Trade Finance. The Committee addresses KYC, AML, OFAC and other sanctions-related matters as they relate to trade finance. Open. Meets every other month. Scott Stevenson ([email protected])
BAFT - Trade Finance Committee The Trade Finance Committee is a product-oriented committee focused on issues affecting Trade Finance products, standards, best practices, international trade risk developments, and matters affecting the broader Trade Finance community. The committee’s work focuses on traditional trade finance products, supported by the work of the operations committees focused on commercial and standby letters of credit, collections and reimbursements. Open. Meets monthly. Scott Stevenson ([email protected])