Swift Communication & Stakeholder Relations 2

Question 1

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

Accepted Answer

Investigate root causes and provide timely, accurate status updates

Answer

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

Question 2

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?

Accepted Answer

Send an MT199 response directly through SWIFT

Answer

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

Question 3

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

Accepted Answer

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

Answer

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

Question 4

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

Accepted Answer

SWIFT Standards Release Guide (SRG)

Answer

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

Question 5

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

Accepted Answer

Notify senior management and the correspondent bank with supporting data

Answer

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

Swift Practice Test

Swift Practice Test

Swift Communication & Stakeholder Relations 2