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Trade finance is a unique career path in banking as it places more emphasis on regulatory and legal aspects rather than financial analysis and modeling. While quantitative skills are still necessary for complex transactions, such as multi-currency hedging or interest rate arbitrage, they take up less of the job responsibilities compared to other banking roles.
Being proficient in understanding and following rules and guidelines, as well as having product knowledge and the ability to gain the client’s trust, are crucial in trade finance. The various rules and legal jurisdictions involved in trade deals can be complicated, making it important for trade finance professionals to understand which products are best suited for a specific trade. Additionally, compliance with the laws of all countries involved in the transaction is important.
Sales skills and the ability to manage crises are also important in trade finance, as delays and losses can occur when trade deals get stuck due to documentary deficiencies. The ability to effectively manage different stakeholders and find solutions to these issues is valuable in this field.