Communication & Stakeholder Relations Flashcards

In SWIFT messaging, what is the primary role of a Relationship Manager when a correspondent bank raises concerns about transaction delays?

Answer: Investigate root causes and provide timely, accurate status updates

Relationship managers must investigate issues and communicate accurate, timely updates to maintain trust with correspondents.

A SWIFT member bank receives an MT199 free-format message from a counterparty requesting clarification on a transaction. What is the most appropriate response channel?

Answer: Send an MT199 response directly through SWIFT

Free-format queries received via MT199 should be answered with an MT199 response through the SWIFT network to maintain secure, traceable communication.

When communicating AML-related transaction holds to a corporate client, which principle should guide the message content?

Answer: Inform the client of the hold without revealing the specific AML investigation details

Tipping-off regulations prohibit disclosing that an AML investigation is underway, so banks must communicate holds without revealing investigation specifics.

Which SWIFT publication is the primary reference for understanding changes to message standards that affect stakeholder communication workflows?

Answer: SWIFT Standards Release Guide (SRG)

The SWIFT Standards Release Guide details annual changes to message types and fields, directly impacting how stakeholders format and interpret communications.

A payment operations team notices an increase in returned SWIFT payments from a specific corridor. What is the first stakeholder communication step?

Answer: Notify senior management and the correspondent bank with supporting data

Prompt notification of senior management and the affected correspondent with supporting data enables coordinated investigation and resolution.

In SWIFT's Customer Security Programme (CSP), how should banks communicate their attestation results to counterparties?

Answer: Through the KYC Registry on the SWIFT portal

CSP attestation results are shared with counterparties through the SWIFT KYC Registry, providing a standardized, verified communication channel.

When a SWIFT gpi payment tracker shows a transaction stuck at an intermediary, what information should the originating bank communicate to the beneficiary bank?

Answer: The unique end-to-end transaction reference (UETR) and current status

Sharing the UETR and current tracker status allows the beneficiary bank to monitor progress and communicate meaningfully with their client.