DVIDS – News – New Banking Short Course Prepares Army For Next Major Conflict

It is said that armies prepare to fight their last war instead of the next, but the US Army Financial Management Command aims to make that an old adage when it comes to funding the fight of the future.

In that effort, USAFMCOM is now accepting applications through June 24 from active, reserve, and National Guard Soldiers for its new Banking Short Course, which will run via a hybrid model from July 5 through November 1. 18.

“The next major conflict will occur with a speed and a lethality that humanity has never seen before,” said Colonel Greg Worley, commandant of the US Army Finance and Comptroller School. “We are a force projection army, which means we must be able to quickly open a theater to project decisive force anywhere in the world.

“Either we take it all with us, or we buy it along the way. There is no in-between,” Worley added. “Between the U.S. Army Contracts Command and our Finance Corps, it’s critical to make sure we can do the latter, and USAFMCOM is getting a head start in training our personnel to do that. .”

U.S. Army Banking Officers and NCOs are responsible for establishing relationships with host nation banking institutions, evaluating them as potential partners, and negotiating operating agreements with them to fund operations. on the theatre.

“The way the military pays semi-monthly and in the host nation’s currency makes them the customer of choice for banks in a competitive environment,” Worley explained. “In the next major conflict, which will likely be on another continent, resources will be limited, so being the customer of choice is key to getting the banking resources we need.”

Army banking professionals also work hand-in-hand with the U.S. State Department and embassies to ensure the military does not do business with sanctioned entities or inadvertently provide money to companies that funnel money to adversaries.

“As we fix our eyes on large-scale combat operations against potential close adversaries, we must develop the skills and capabilities our soldiers and commanders will need to fight and win the next war,” said Captain Jose. Rivera, of USAFMCOM banking. officer and responsible for the course program. “And we know we will need multiple banking teams due to the potentially distributed nature of the future battlefield.”

Currently, USAFMCOM is partnering with the Armed Forces Bank for a year-long training course with the banking industry, but this training course only provides the Army with a bank officer and a non-commissioned officer. banking each year, and the program is only available for the active component.

“You train for the known and you train for the unknown, and the new Banking Short Course is a combination of education and training,” Worley said. “What is known is that we know that we will need banking and banking support in the next war. The unknown is at the required scale.

To prepare for any scale needed, the short course will be held three times a year for a total of 18 soldiers from the regular army, army reserve and army national guard.

“The course will give them an overview of banking and equip them with the tools they can one day use to support a theater commander as banking officers and NCOs,” Rivera said.

It will focus on understanding banking industry practices; international laws and considerations; liaison responsibilities with the host country bank; financial institutions on DoD facilities; impact of sanctions; assessment of financial institutions; and how to set up a limited deposit account.

Students will also learn about anti-money laundering, bank secrecy law compliance, and counterfeit and fraud investigation.

“This short course gives everyone in all three components the opportunity to build a bench of officers and NCOs who understand the fundamentals of banking,” Worley said. “And, if we engage in a theater where multiple banking systems are used, we will have the ability to get the right people with the right talent in the right place at the right time.”

The course’s hybrid model includes two online training sessions through the American Bankers Association, a week-long on-site visit with the Armed Forces Bank in Kansas City, and a week in Indianapolis with the Banking Officer from USAFMCOM.

“The final phase of USAFMOCM is where we pull everything together and everything clicks into place,” Rivera explained. “They will engage in real-world scenarios and make recommendations to our leaders on courses of action so they know they can talk and walk.”

USAFMCOM is also working with the Army Finance and Comptroller School to establish a personnel development competency identifier for course graduates.

“By taking this course, these NCOs and officers will be able to add it to their file as an additional credential and show their leaders that they are trained in this set of missions,” Rivera said. “Not only that, but they also show that they are driven to improve as finance and controlling professionals and are willing to step out of their comfort zone to get there.”

“It’s professional development and it helps you hone your craft,” Worley agreed. “If you’re a finance and controller professional, you understand that money doesn’t grow on trees, and this course provides you with situational awareness as to what matters and how that money appears.”

Applicants must be finance and comptroller soldiers in grades E-6 through E-8 and O-1 through O-3. Eligible soldiers wishing to apply for the course can contact Rivera at [email protected]

Date taken: 22.06.2022
Date posted: 22.06.2022 14:35
Story ID: 423528

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