International trade is dynamic. Traders will come across different rules, different regulations, and even different trade patterns. Yet despite these challenges, traders still require tailor-made solutions for every business situation, according to Mayowa Egunjobi, Vice President at Deutsche Bank.
Mayowa knows this, thanks to her eclectic background. Her career began after a brief stint with an educational service agency, which brought her to the world of banking. But what started as an opportunity to fill a vacancy at the International Operations department has since evolved into a lifelong passion for global trade—with some important lessons learned along the way.
Today she focuses on advising and engaging with financial institutions within Wes Africa as Vice President, Institutional Cash and Trade Finance at Deutsche Bank based in Nigeria.
“I also support the executive management in coordinating the Nigerian franchise with Deutsche Bank as a group with things like strategic planning and revenue drives for the portfolio that we manage. For my portfolio I’m also responsible for the Know Your Customer (KYC) and Anti-Money Laundering (AML) reviews that need to be done, especially with the peculiar compliance requirements involved with this region. Depending on the risk criteria of that country, clients are classified as such, and this is what determines the frequency of the periodic review to be performed as part of our compliance processes. And I also manage the high level engagements with the financial institution/regulatory body to ensure that compliance,” Mayowa explains.
Overcoming the challenges of global trade
International trade is not always a linear career path.
“International trade is a field that covers very diverse areas,” reflects Mayowa. “Import and export trade operations, investment and international project consultancy, global management strategies, market research…”
The key to overcoming those challenges, according to Mayowa, is building relationships. She regularly engages with a wide array of professionals and enterprises to discuss business opportunities and global trends.
In one case, she even facilitated a complex trade deal across different continents—including a local oil company in Liberia, a U.S. oil franchise, and a small business in Nigeria and manufacturer in China.
Mayowa calls this kind of balance and versatility a delicate operation. Her secret weapon: careful research.
“The IOC was divesting their business from Liberia and some other West African countries and needed to sell off the entities to a competent local oil company,” says Mayowa.
“Another small business was struggling to find a reliable supplier for a unique product they wanted to sell and who would accept trade terms convenient for both parties. Through careful research and negotiations, we were able to facilitate the trade business between a manufacturer in China who produced high-quality goods at a competitive price with the Nigerian small business owner.”
In this case, because the IOC was divesting its operation from Liberia and other West African countries, the deal required two parties—so Mayowa used her attention to detail and expertise on trade instruments to facilitate acceptable contract terms to fit into the buying capacity of the local Liberian company in order to purchase the franchise, while also providing confidence to the seller-IOC that they would receive their funds when due.
Matching the two wasn’t necessarily easy. It required a complicated look at the books, as well as an agreement structure that both the IOC and the local Liberian companies would find favorable.
The solution came by finding the right structure for trade instruments and a long-tenured guarantee between two entities.
“This sale involved payments working with their partner local banks,” notes Mayowa. Without that detail of international trade, the deal may not have come together at all.
It’s also important to understand how these complex trade agreements can affect companies and individuals across the globe. Mayowa notes that negotiating and finalizing these high-value trade deals has not only brought significant revenue to her company, but helped optimize supply chains and reduce costs for different companies affected by the trade deal. The result is a contribution to the global economy that’s difficult to put in dollar terms.
The power of relationships in international trade
For Mayowa, putting together the right details like that depends on building relationships to support her career in international trade. Given how dynamic international trade can be—with international rules and regulations constantly changing—these relationships help keep her in the loop and address complex issues by cutting to the heart of negotiations.
Negotiations like these also highlight Mayowa’s love for finding small business solutions for what are sometimes international trade concerns. She believes small businesses—like the local banks in her negotiation between U.S., China, Nigerian and Liberian trade partners—can “thrive and grow by tapping into global markets.”
After all, the significance of the Liberia-U.S.- a deal in question can be seen as a bridge-building endeavor. It brought together the continents with different economic priorities and sets of economic rules. Even so, finding the right instruments and identifying the key local business partners was essential to executing the trade the right way.
That’s where relationships enter the picture.
Whenever mentoring young professionals in international trade, Mayowa recommends relationship-building from the very beginning. Since every trade pattern has its own sets of rules and local needs, building those relationships helps trade experts quickly decipher the problems that may be getting in the way of negotiations.
She says that the power to adapt and provide the best value for clients often depends on the strength of one’s personal connections. And pursuing connections like that can be a career-long endeavor.
Becoming a Certified International Trade Professional (CITP)
“I found out about the CITP four years ago. And at that point in my career, I had already transitioned into the international banking space, and I wanted to do something more. After earning my Certified Trade Finance Professional (CTFP) in 2020, I wanted to take on additional challenges and continue to move up the ladder within the international banking space.
“One of my colleagues mentioned the CITP to me as the highest form of certification for international trade professionals recognized in the Americas.”
“And I said ok, let me give it a try and started reading up on the CITP designation. The more I learned about it the more fascinated I got and decided to go for it.”
One of the biggest milestones in Mayowa’s career was applying to earn her status as a CITP.
“Having the CITP designation demonstrates your expertise and professionalism in the field of international trade,” notes Mayowa.
It not only enhances one’s credibility with peers but boosts reputations among clients and employers as well.
It also demonstrates a commitment to the kinds of skills that have helped her develop her career in international trade.
Looking to the future: What’s next for Mayowa Egunjobi
Mayowa is confident that her CITP designation will have a major, critical role in her career progression. Since relationship-building is the name of the game, having this certification helps establish credibility within new relationships, which can help move the wheels that turn global trade.
She also sees that the international trade market is nothing if not unpredictable. “Dynamic” is an understatement to Mayowa. And because international trade is always fluid, it takes someone with both passion for learning and a willingness to adapt—traits that attracted her to international trade.
In fact, she identified being part of a professional community like this as a great way to help her stay ahead of emerging trends. New trade regulations and innovative market technologies will always be on the move. But Mayowa believes that a steady approach to building the right relationships—and finding the right details in trade negotiations—will always win the day.
For professionals like Mayowa, building a strong network of relationships while staying open to the changing winds of trade dynamics always creates opportunities to build bridges where there were none before.
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