Mary Breede - Solution consultant at Thomson Reuters
Mary started out as a master scheduler and project manager. She was brought in on a project to close an on-site customs audit that had been dragging on excessively (3 years). She learned about Ch 98 or Ch 99, drawback, country of origin, marking, classification, valuation audits, and compliance improvement plans. Then her career just expanded from there, gaining experience in multiple industries: high-tech, consumer electronics, chemicals, and apparel and footwear. Today, as part of the customs insight team at Thomson Reuters she evaluates clients processes and how software could help them improve efficiencies and lower risk. To further our discussion we define “international trade”, “global trade compliance”, and “regulatory compliance”. International trade – everything that is required to conduct business in multiple countries. This involves the financial, tax, currency, supply chain, sourcing, procurement, transportation and organizational structure of a company. It is not necessarily just the movement of goods across borders. Trade compliance/Global trade management – cross border transactions and compliance with the applicable regulations. Moving goods across borders while adhering to each countries local laws and taking advantage of duty reduction policies where applicable. Regulatory compliance – Complying with the different governmental organizations that are involved in the import, export, and storage process for specific products such as agriculture (FDA and USDA) or chemicals (EPA). Why trade compliance is interesting: The industry and regulations are constantly in flux and to be successful you must always be learning. It is like a puzzle to put together the inbound and outbound customs rules each time the product moves across a border. On technology in trade compliance: global trade management software, block chain, artificial intelligence, process automation, and computer learning. Technology is helpful: - for record keeping facilitating a faster response in customs inquiries -managing/auditing all the data points required in a transaction -predictions to help with business decisions On mentoring: -Find a mentor that can remove roadblocks for you, expand your connection in the company, and introduce you to people that might expand your knowledge base as well as your network circle. -A mentor doesn’t necessarily have to be someone within trade compliance. -don’t just ask to learn something, ask to participate in a project and gain practical experience. Contact us: Email: womenintradepodcast@gmail.com Twitter: @Tradepodcast Full episode transcript available on my website here: Season 1: Episode 3 (kelliekemock.wixsite.com)
