Master program · Risk, Controls & Surveillance

Finance the cargo. Control the title. Get paid.

Master commodity trade finance end to end: contracts, documents and title, letters of credit and SBLCs, documentary collections, borrowing-base and inventory finance, collateral control, sanctions screening and the operational controls that decide whether a trade actually settles.

LC & SBLC · Documentary collections · Borrowing base · Inventory finance · Title documents · Sanctions

Enquire about this programme See the 130 chapters

130 chapters · 11 modules · Python + SQL labs · one continuous case · end-to-end capstone

How it is built

Cumulative, not modular

Chapter 130 should be impossible to complete properly without the artefacts built in the chapters before it. The programme follows one continuous fictional firm, NorthStar Energy Trading, so relationships between trades, positions, agreements, exposures and decisions accumulate rather than reset.

The learning chain

Contract → Documents → Title → Finance structure → Instrument → Collateral → Drawdown → Compliance → Settlement → Repayment

The technical build

Contract register → Document set → Title tracker → LC/SBLC model → Borrowing-base calculator → Collateral monitor → Sanctions screen → Trade finance platform

NorthStar Energy Trading is a fictional firm created for teaching. It does not describe any real company, person or investigation.

Curriculum

11 modules · 130 chapters

M0 Commodity Trade Finance Desk Primer Ch 1–8 · 8 chapters

Understand why physical trading needs finance

  1. What a Commodity Trade Finance Function Actually Does
  2. Why Physical Commodity Traders Need Working Capital
  3. Trade Finance vs Corporate Finance
  4. The Physical Trade-to-Cash Lifecycle
  5. Anatomy of a Financed Commodity Trade
  6. Banks, Traders, Buyers, Sellers and Service Providers
  7. Credit Risk vs Performance Risk vs Collateral Risk
  8. NorthStar Trade Finance Operating Model
M1 Commodity Contracts, Documents & Title Ch 9–20 · 12 chapters

Understand what the bank is actually financing

  1. Physical Commodity Sale Contract
  2. Incoterms and Financing Consequences
  3. Commercial Invoice
  4. Bill of Lading Fundamentals
  5. Original Bills, Copies and Electronic Documents
  6. Warehouse Receipts
  7. Tank and Terminal Documents
  8. Certificates of Quantity and Quality
  9. Certificate of Origin and Customs Documents
  10. Marine Cargo Insurance Documents
  11. Title Transfer and Risk Transfer
  12. NorthStar Commodity Document & Title Model
M2 Letters of Credit & Documentary Credits Ch 21–36 · 16 chapters

Master the most important documentary financing workflow

  1. Why Letters of Credit Exist
  2. Documentary Credit Parties
  3. UCP 600 Architecture
  4. LC Application
  5. Issuance and Advising
  6. Confirmed vs Unconfirmed Credits
  7. Sight vs Deferred Payment
  8. LC Availability and Nominated Banks
  9. Documentary Conditions
  10. Documentary Presentation
  11. Document Examination
  12. Discrepancies
  13. Waivers and Discrepancy Decisions
  14. LC Amendments
  15. Transferable and Back-to-Back Structures
  16. NorthStar End-to-End LC Case
M3 Collections, SBLCs & Guarantees Ch 37–48 · 12 chapters

Choose the right instrument for the commercial risk

  1. Open Account vs Advance Payment
  2. Documentary Collections
  3. Documents Against Payment
  4. Documents Against Acceptance
  5. Collection Instructions
  6. Standby Letters of Credit
  7. Demand Guarantees
  8. Performance Guarantees
  9. Advance Payment Guarantees
  10. Bid, Performance and Payment Security
  11. Instrument Selection Framework
  12. NorthStar Payment-Security Decision Engine
M4 Borrowing Base Finance Ch 49–64 · 16 chapters

Turn commodity assets into revolving financing capacity

  1. What a Borrowing Base Facility Actually Does
  2. Borrowing Base Architecture
  3. Eligible Inventory
  4. Eligible Receivables
  5. Advance Rates
  6. Haircuts
  7. Commodity Mark-to-Market
  8. Concentration Limits
  9. Ineligible Collateral
  10. Reserves
  11. Borrowing Base Certificate
  12. Redetermination
  13. Borrowing Base Deficiency
  14. Collateral Release
  15. Cash Dominion and Controlled Accounts
  16. Building the NorthStar Borrowing Base Engine
M5 Inventory Finance, Collateral & Title Control Ch 65–78 · 14 chapters

Determine whether financed goods really protect the lender

  1. Commodity Inventory Finance
  2. Warehouse Control
  3. Terminal Inventory Control
  4. Commingled Inventory
  5. Quantity Reconciliation
  6. Quality and Grade Risk
  7. Location Basis Risk
  8. Inventory Ageing
  9. Insurance and Collateral Protection
  10. Pledge and Security Interests
  11. Collateral Monitoring Agents
  12. Release Fraud and Unauthorized Movement
  13. Duplicate Financing Risk
  14. NorthStar Collateral Control Framework
M6 Structured Commodity Finance Ch 79–90 · 12 chapters

Finance transactions beyond standard LC facilities

  1. Structured Commodity Finance Foundations
  2. Pre-Export Finance
  3. Commodity Prepayment
  4. Offtake Agreements
  5. Tolling and Processing Structures
  6. Receivables Finance
  7. Supply Chain Finance
  8. Repayment Waterfalls
  9. Covenants
  10. Trigger Events
  11. Structural Risk Analysis
  12. NorthStar Structured Finance Case
M7 Sanctions, AML, TBML & Commodity Fraud Ch 91–106 · 16 chapters

Build the financial-crime control layer

  1. Why Commodity Trade Is Vulnerable to Financial Crime
  2. Sanctions Control Architecture
  3. Counterparty Screening
  4. Vessel and Maritime Screening
  5. Bank and Payment Screening
  6. Commodity and Origin Controls
  7. Trade-Based Money Laundering Fundamentals
  8. Over- and Under-Invoicing Indicators
  9. Over- and Under-Shipment Indicators
  10. Multiple Invoicing and Duplicate Financing
  11. Circular Trading
  12. Third-Party Payments
  13. Phantom Cargo and Non-Existent Inventory
  14. Forged and Manipulated Documents
  15. Trade Finance Red-Flag Analytics
  16. NorthStar Financial Crime Investigation
M8 Treasury, Cash & Financing Economics Ch 107–114 · 8 chapters

Understand the real cost of financing the trade

  1. Trade Finance Pricing
  2. Working-Capital Days
  3. Interest Calculation
  4. Currency & FX Funding
  5. Cash Forecasting
  6. Liquidity Stress
  7. Financing P&L
  8. NorthStar Treasury & Trade Finance Dashboard
M9 ETRM, Data & Trade Finance Technology Ch 115–122 · 8 chapters

Build the enterprise implementation

  1. ETRM as the Trade Finance Source
  2. Trade Finance Canonical Data Model
  3. Document Workflow Architecture
  4. Facility & Limit Engine
  5. Payments & Bank Integration
  6. Inventory & Collateral Integration
  7. Exception and Case Management
  8. Building the NorthStar Commodity Trade Finance Platform
M10 NorthStar Commodity Finance Crisis Capstone Ch 123–130 · 8 chapters

Finance, control and recover a difficult commodity portfolio

  1. Capstone Portfolio
  2. Reconstruct Facilities and Transaction Funding
  3. Validate Documents and Title
  4. Recalculate the Borrowing Base
  5. Sanctions and Fraud Signals Emerge
  6. Liquidity Shock
  7. Credit & Trade Finance Committee Decision
  8. Final Commodity Finance Case Pack
How it is delivered

Three ways to take Commodity Trade Finance

Self-paced is a document-and-media programme with lifetime access - no live sessions. Cohort and enterprise add live instructor-led training. Mentorship is not offered in any tier.
Feature Self-paced Cohort Enterprise
Format Written chapters, video explainers and podcasts Everything in self-paced, plus scheduled live sessions Everything in cohort, delivered privately to your team
Live sessions None Scheduled, instructor-led Scheduled, instructor-led, private
Mentorship Not offered Not offered Not offered
Access Lifetime Lifetime Lifetime for every enrolled seat
Pace Entirely your own Guided schedule with a peer group Agreed with your desk
Tailoring Fixed curriculum Fixed curriculum Sequenced to your markets, systems and governance
Best for Individuals learning around a job Individuals who want structure and deadlines Desks building the same capability together
For individuals

Get the programme guide

The full chapter list, what each module covers, and how the tiers compare - sent to your inbox as a PDF.

For teams

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Private delivery for your desk, sequenced to your markets and systems. Tell us the team and we will scope it.

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Bring this to your team

Download the full curriculum, or talk to us about running it for a desk or a control function.

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