International job takes bank skills around the globe for Oklahoma banker
OVERSEAS DEALINGS REQUIRE CULTURAL, MONEY KNOWLEDGE
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BY DON MECOY
Published: December 21, 2008
Marta Morrow was recently hired by Arvest Bank to launch its international banking department as a senior vice president. Photo By Larry Levy, For The Oklahoman
If an Oklahoma business owner has a problem in Pakistan or trouble in Thailand, Marta Morrow may be the banker of choice.
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Special knowledge
Morrow, who came to the U.S. from El Salvador in 1975, has worked with international commerce for years. The field requires specialized knowledge, she said.
Customers transacting business in foreign countries typically need letters of credit, Morrow said. But services range from advice on trading terms and currency to complex deals, she said.
"Some transactions are very complicated,” Morrow said. "Some (customers) are doing business in high-risk countries — Pakistan, India. These are not typical transactions. They need to know how to prepare documents, what to say, what not to say.”
The variety of countries that Oklahoma business people deal with and the varied rules, regulations and adherence to rules make the job a challenge, Morrow said.
"Some countries abide by rules, but some don’t abide by the rules,” she said. What I may be able to do in Korea, I may not be able to do in China.”
Looking for one more
Morrow has hired one employee for the new department, and is looking for one more.
But finding people in this region with international banking experience can be challenging, she said.
Oklahoma businesses must be able to compete in a global market, Morrow said.
"You cannot just stay in a specific market in the United States,” Morrow said. "But, just like in the U.S., we tell customers that you have to know your customers — who you’re doing business with.”
Morrow is trying to help Oklahoma businesses make those connections.
Related Topics:
Economic Issues, Globalization
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