Best Practices for Letter of Credit/Bank Guarantees
Speakers: Victor Chow, Intuitive Surgical ' ' Ankit Pahuja, Trade Finance, Citi Michelle Toyoshima, Intuitive Surgical
Let us have a refresher on letter of credit/bank guarantees. We will take a journey through the basics of letter of credit/bank guaranty 101 and understand the importance of trade service risk and what we can do to mitigate this. We will walk through how we developed a company-wide global policy, share our framework and best practices, and discuss how we can leverage technology in the issuance and monitoring process.
Victor Chow is a Senior Treasury Manager at Intuitive Surgical, covering cash and liquidity management, foreign exchange (FX), investments, corporate finance, insurance, bank relationship management in addition to treasury planning and reporting. He has previously held treasury, working capital, FP&A, and forensic accounting roles at LinkedIn, Hewlett-Packard, and various consulting firms. Victor currently holds a CFA and CTP certification, earning his MBA from UCLA and BS in Business Administration from UC Berkeley.
Ankit Pahuja is a Director of Trade Finance at Citi. He supports large institutional clients with a variety of solutions, including letters of credit, pre and post-shipment finance, receivables finance, and supply chain finance. He has held a number of key banking roles in global financial institutions and has worked in the trade finance arena for over a decade; across a number of geographies such as North America, Asia, and Australia. Ankit holds a CPT certification, earning his Bachelor of Commerce/Finance from the University of Melbourne in Australia.
Michelle Toyoshima is a Treasury Manager at Intuitive Surgical with experience ranging from advisory, process improvement, compliance, and treasury; having previously worked at Ernest & Young and The Gap. Her areas of expertise include FX strategies, working capital, cash, investment and liquidity management, cash forecasting, and banking relationships. With the ever-evolving world of treasury, she continues to expand her knowledge base and incorporate new and innovative solutions and serves as a liasion to cross-functional global teams and management. Michelle earned her BS in Business Administration from the Haas School of Business at UC Berkeley with a double minor in Global Management and Education. She has held her current CTP certification (currently inactive) since 2017.
Samanta Winters is a Senior Vice President, Global Solution Sales at Citi. She supports tech clients across their Treasury and Trade Solutions needs, including liquidity management, payments & receivables, trade services, commercial cards, plus data and connectivity. Prior to joining Citi, Sam spent a number of years in corporate treasury, most recently at Microsoft where she focused on new business enablement, payments, and ecommerce. She holds a CFA and CTP certification along with an MSc from the London School of Economics and bachelor’s degree from the Foster School of Business at the University of Washington.