Bridging the Gap: Global Perspectives on Trade Finance Operations Expertise Crisis [Webinar recap]

Last week, we brought together practitioners from across the globe during our webinar 'Solving the Expertise Crisis in Trade Finance Operations' to tackle one of the industry's most pressing challenges.

While the $2.5 trillion trade finance gap (by ITFA's estimations) continues to dominate headlines, our conversation revealed insights into another fundamental crisis brewing beneath the surface: the systematic erosion of human capital that powers international commerce.

The discussion featured:

• Jukka Kuusala, Managing Director and Head of Trade Finance at Danske Bank

• Peter DelGrasso, Deputy Chief Operating Officer for Mizuho Asia Pacific

• David Cooperman (Moderator), Head of Americas Business Development and Global Partnerships at Complidata

Despite being connected across vastly different time zones—from North America through the Nordics to Southeast Asia—the three participants' conversation painted a remarkably consistent picture across different continents, one that demands urgent industry-wide action.

We invite you to read some of the key takeaways, topics, and action points from the conversation below.

A crisis without borders

Perhaps the most striking revelation from the webinar was the universality of the expertise crisis. Whether in Nordic Europe, North America, or Asia Pacific, the same story emerges: a veteran workforce approaching retirement, a missing middle layer of professionals, and a struggle to attract young talent to what's perceived as a "paper-based" industry.

"It's interesting to see the common theme across the regions," noted DelGrasso, whose experience spans both the Americas and the Asia Pacific markets. "We're hearing the same story" from banks across different geographies, cultures, and economic environments.

This global consistency suggests the crisis runs deeper than regional economic cycles or local market conditions. Instead, it points to structural challenges within the industry that require coordinated, industry-wide solutions rather than isolated institutional responses.

The psychology of attraction and what really matters to new generations

One of the webinar's most valuable contributions was Kuusala's insight into what actually motivates young professionals to join and stay in trade finance. Drawing from academic research conducted at Danske Bank, he revealed a surprising priority hierarchy that challenges conventional thinking about talent attraction, especially from previous generations.

What new talent really values:

1. Career opportunities - Clear progression paths beyond document checking

2. Company brand reputation - Working for institutions they respect

3. Quality of direct leadership - Supportive, engaging management

4. Compensation - Traditional focus, but ranked fourth

"Are we as leaders, are we as recruiting managers capable of illustrating that there is a future path within trade finance as well?" Kuusala asked, highlighting the industry's failure to articulate clear career progression beyond document checking and compliance tasks.

The missing middle

Both speakers identified a particularly acute problem in the "middle layer" of expertise, professionals with 10-15 years of experience who should be bridging the gap between senior experts and junior staff. Kuusala's research into this phenomenon revealed a sobering truth: "The finding was that... they never got in."

This missing cohort isn't the result of poor retention or inadequate development programs. Instead, it reflects a period of economic stability when banks maintained steady workforces without significant expansion, creating few entry points for new professionals.

Now, as the industry faces simultaneous senior retirements and rapid growth in regulatory complexity, this demographic accident has created a dangerous knowledge vacuum.

The implications extend beyond simple succession planning. Without this middle layer, organizations struggle to maintain continuity while managing the dual challenge of knowledge transfer from retiring experts and skill development for new entrants.

Technology as amplifier, not replacement

Both speakers pushed back against the common narrative of technology displacing human expertise in trade finance. Instead, they positioned AI and automation as tools that enhance rather than replace human judgment—a perspective that carries important implications for talent development and retention.

"The direct answer is no," DelGrasso stated firmly when asked if technology would replace people. "Technology is going to make your job easier. It's going to put you in a position of quality assurance."

Cooperman echoed this sentiment while emphasizing the critical importance of communication during technology implementation.

Drawing from his banking experience, he shared a telling anecdote: "I recall once talking to an operations person in a global hub on the day we turned on a solution that we were very excited about... and she gave me some very negative feedback. Everybody was shocked.. But she wasn't concerned about the technology, she was just concerned about losing her job.”

When Cooperman explained that the technology was designed to help her handle increased workload rather than replace her, "she said, oh, I actually love this technology then...” Sometimes it's a failure to communicate."

Technology's role in trade finance evolution:

• Quality assurance focus - Moving from manual tasks to oversight and validation

• Higher-value activities - Enabling client advisory work and complex problem-solving

• Efficiency enhancement - Reducing repetitive tasks while preserving expertise requirements

• Capacity creation - Freeing up time for innovation and customer service

Kuusala's experience with technology adoption revealed an interesting dynamic: resistance often stemmed not from inability but from uncertainty about the technology's role. When senior staff were encouraged to identify use cases themselves rather than being directed to adopt tools, success rates improved dramatically, suggesting that engagement and ownership are as important as technical training.

Community as competitive advantage

One of the most compelling themes to emerge from the discussion was the unique community aspect of trade finance. Both speakers emphasized how the industry's collaborative culture creates both retention advantages and recruitment opportunities.

DelGrasso's personal anecdote about being brought to industry conferences as a junior professional illustrated the power of external networking: "I felt part of a bigger community. Again, I was proud of the company I worked for... and at the same time, I felt that the veteran staff were so kind as external mentors."

Trade finance community advantages:

• Collaborative culture - Unlike other competitive financial services sectors

• External mentoring opportunities - Industry-wide knowledge sharing

• Natural networking - Conference and event participation

• Career-long relationships - Professional bonds that span decades

• Institutional pride - Connection to global commerce infrastructure

This community dimension offers a distinctive value proposition for attracting young talent. The challenge lies in making this community visible to potential entrants who may not understand the industry's unique culture until they experience it firsthand.

Regional nuances in a global challenge

While the fundamental challenges appear universal, subtle regional differences emerged during the discussion:

Regional variations in approach:

• Nordic markets - Stronger "gentleman's agreements" around talent poaching

• Asia Pacific - Leveraging time zone advantages and global service centers

• Collaborative vs. competitive environments - Different cultural approaches to talent sharing

• Best practice opportunities - Knowledge transfer across regions

Kuusala noted stronger collaborative approaches in Nordic markets, while DelGrasso's Asia Pacific perspective highlighted opportunities created by global service center models. These regional variations point to opportunities for knowledge sharing and best practice transfer across markets.

The innovation paradox

A particularly insightful observation emerged around the relationship between operational capacity and innovation. As Kuusala noted, expertise shortages create a difficult choice: "Because we need to prioritize, if the lack of a professional workforce forces us to focus on that to avoid bottlenecks in the processes, then the necessary future steps to digitalization will be postponed one way or another.”

This creates a vicious cycle where understaffing reduces the capacity for process improvement and technology adoption that could address the very staffing challenges the industry faces. Organizations struggling with operational demands lack the bandwidth to invest in solutions that might reduce future operational pressure.

Breaking this cycle requires strategic thinking about resource allocation and potentially accepting short-term operational stress to invest in longer-term capacity building.

Beyond recruitment and towards retention

The webinar revealed that successful organizations are shifting focus from recruitment to retention and development. Rather than competing for scarce experienced professionals, leading institutions are investing in comprehensive development programs that create expertise internally.

Successful retention strategies:

• Work buddy systems - Combining senior mentors with peer support

• Job rotations - Cross-functional experience across front, middle, and back office

• Team-based training - Group learning approaches for new hires

• Knowledge transfer programs - Structured documentation and mentoring

• Internal community building - Creating belonging and engagement

Kuusala's "work buddy" system demonstrates how thoughtful program design can accelerate knowledge transfer while building internal community. Similarly, DelGrasso's emphasis on job rotations creates well-rounded professionals who understand end-to-end processes.

Cooperman added a crucial implementation perspective, emphasizing that these programs require significant upfront investment but create sustainable competitive advantages. His experience across different institutions showed that organizations willing to invest in comprehensive development programs not only solve immediate staffing needs but position themselves as employers of choice in an increasingly competitive talent market.

These approaches require significant upfront investment but create sustainable competitive advantages through stronger internal expertise and reduced dependence on external talent markets.

The perception challenge and a new perspective on the industry

One of the questions from the audience that Cooperman brought up was about how the industry is perceived as very paper-oriented, and that is a bit of a turn-off to new recruits. However, with new technologies being implemented how can that be leveraged to make the industry more attractive?

DelGrosso had a direct answer to this: “It's paper-based, but you have the opportunity to be part of a change (the implementation of new technologies) that's gonna last for many years, so I think it's an exciting time to come into trade.”

Kuusala noted the importance of changing perceptions: "Let's make sure that we are understood properly, as of contemporary terms, not yesterday's legacy." The speakers agreed that industry marketing requires collective effort beyond individual institutions, with organizations like BAFT or ITFA creating promotional videos and other initiatives to reach young professionals before they've formed opinions about career paths.

Moving forward: An industry imperative

The webinar's final exchanges revealed both urgency and optimism about addressing the expertise crisis. DelGrasso's emphasis on building relationships and finding mentors, Kuusala's focus on curiosity and continuous learning, and Cooperman's insights on technology implementation for effectiveness and efficiency of current teams provide a comprehensive roadmap for both individual professionals and institutional leaders.

However, the scale of the challenge demands coordination beyond individual company efforts. As global trade volumes continue growing and regulatory complexity increases, the human capital required to support international commerce becomes ever more critical. The expertise crisis represents not just a staffing challenge but a fundamental threat to the infrastructure of global trade.

The practical examples shared by all three participants in the webinar show that solutions to this crisis exist, but their implementation requires industry-wide commitment to change. Organizations that act decisively on talent development, technology adoption, and community building will not only address their immediate staffing needs but position themselves as leaders in trade finance's next chapter.

The conversation has moved beyond identifying the problem to implementing solutions. The question now is whether the industry will act with the urgency the crisis demands, or continue discussing challenges while the expertise gap widens further.