The latest meeting of AFP’s Treasury Advisory Group began this week with a discussion on electronic bank account management (eBAM). Although the idea of eBAM has been floated around for a while, the future of the initiative is unclear at best—leaving corporate treasurers to ponder how much they actually want or need it.
Making meaningful changes to an organization’s financial performance requires more than a cursory fine-tuning of your cost base. There needs to be a significant cultural shift in the way costs are managed.
News broke last week of another major data breach—this time against the federal government. AFP compiled four best practices for corporate treasury and finance professionals to help their organizations avoid similar incidents.
The treasury units at many multinational corporations (MNCs) are evolving to include in-house banks, treasury centers and other functions often supported by treasury management systems (TMS). If those systems are chosen poorly, however, the adverse impact can be felt well beyond treasury.
We all know the moment: Your CFO or CEO calls you into the office, takes a deep breath, and announces that the acquisition target said “yes”. All you need to do is find the money to pay for it.
When Giovanni Edwards attended his first AFP Annual Conference last November, he wasn’t expecting was, as he put it, “Comic-Con for financial professionals.”
In the latest edition of AFP's In-Depth series, Nicole Meyer, founder and managing partner of the Meyer Partnership, discusses what employers are looking for when they see a resume.
During a special event at Microsoft’s Cybercrime Center, Richard Boscovich, assistant general counsel of Microsoft's Digital Crimes Unit, warned corporate treasury and finance professionals to be on the lookout for “stealth” attacks.
The recent surge in cyberattacks is not merely a spike in a particular method of crime. What we are currently witnessing is the evolution of crime itself, and treasury and finance professionals need to be ready for it.
This month, we recap the AFP FP&A Leadership Summit, underwritten by Tidemark, which was held in Amsterdam.
Making SDDs more available and easier to facilitate provides a great opportunity to move more of a corporate's payments over to a recurring direct debit format. This will, in turn, make cash forecasting more predictable and accurate.
Susan Hauser, corporate vice president, enterprise and partner group for Microsoft, provided insights on how corporate treasurers, CFOs and boards can work closer with IT.
Recently on AFP’s discussion board corporate treasury and finance professionals discussed Foreign Bank Account Reporting signature authority.
In recent years, treasury has been facing a virtual onslaught of new federal regulations affecting everything from liquidity to risk to bank account and relationship management. Among these regulations are FBAR, FATCA, and rules governing swaps under Dodd-Frank.
As treasurers’ responsibilities continue to grow, they need the best technology available to stay ahead. Last week during the opening general session of the CTC Corporate Treasurers Forum, practitioners provided insights into how their functions have undergone a rapid evolution in recent years.
One of the biggest challenges for treasurers is identifying the best way to respond to the many proposed and new regulations around the world. Whereas best practice might dictate a proactive response to each new regulation, practicalities dictate otherwise.
China’s tax system is still at the development stage, and there are a lot of gray areas and inconsistencies in the tax regulations. So what can treasury and finance professionals do -- especially if they must manage their firm’s China treasury and finance operations from afar?
FBAR has been extremely burdensome to treasury and finance professionals. Nonetheless, the deadline for filing is June 30.
FP&A professionals can practically read numbers with their eyes closed, but do the numbers really speak when they present them in meetings? Can FP&A staff explain the story to non-financial audiences?
Calling cybersecurity “asymmetrical warfare,” the former Chief Technology Officer of the United States, who spoke Thursday at the CTC Corporate Treasurers Forum, stressed the need for standards for cyber insurance products to improve their quality and value.
The latest data shows companies shifted more excess cash into corporate bonds for the fifth straight month in April, to a new record of 47.95 percent of total investment.
This month, we review the results of the 2015 AFP Compensation Survey. The survey found that for the second year in a row, treasury and finance professionals experienced have seen an increase in pay.
Recently on AFP’s discussion list corporate treasury and finance professionals discussed the effectiveness of ACH enrollment methods.
One of the biggest challenges facing corporate treasurers today is how to respond to the mass of proposed and new regulations around the world. The new CTC Guide, Effective Compliance with Global Regulations, supported by Thomson Reuters, is designed to help treasurers determine when and how best to respond to a range of current and planned regulatory changes.
Business executives know that they should tap into the power of advanced data analysis and data visualization. For financial planning and analysis (FP&A) professionals, accomplishing this is no easy task.
The implementation of ISO 20022 has not been without some turbulence. Nevertheless, the standard will help to simplify international payments, and corporations can benefit greatly from it.
Among the many challenges financial planning and analysis (FP&A) professionals face, talent acquisition and retention is likely the sharpest of double-edged swords.
This month saw NACHA’s voting membership approve Same Day ACH. Corporate treasurers have shown overwhelming support for the initiative, viewing it as a positive step toward modernizing payments in the United States. Nevertheless, it brings with it some risks.
Corporate treasurers have a wide variety of services at their disposal to cut down on payments fraud. But if they don’t use them, they could be on the hook.
In the latest video from AFP's In-Depth series, Anna Akbari, a sociologist and entrepreneur, discusses the best ways to use social media to help land a new job. A prominent thought leader, she is frequently called on as an expert.
NACHA announced that the financial institutions that comprise its voting membership have approved Same Day ACH. The new rule enables a ubiquitous same-day capability for virtually any ACH transaction.
Many executives are focusing on identifying, developing and retaining their high-potential staff (HIPOs) to fill future leadership gaps. But to effectively develop the HIPOs of today into the leaders of tomorrow, treasury and finance leaders need to avoid pitfalls in three areas.
While Basel III is aimed at banks, it will have a much more significant impact on companies than its predecessors. Therefore, corporate treasurers would be wise to begin preparing now.
Treasury and finance departments are all-too-familiar with cyberattacks that strike their organization’s website, or steal data. But a new kind of cyberattack on its way is even more disturbing, warns one expert.
Treasury and finance executives of multinational corporations need to pay attention to a regulatory initiative that could dramatically alter international lending and taxation.
Businesses are spending unprecedented amounts of cash on cybersecurity. But if that money is solely going to cybercrime prevention, then the hackers have likely already won, argues Josh Goldfarb, chief security strategist, enterprise forensics for FireEye.
The New York Department of Financial Services, arguably the most influential state financial regulator in the nation, intends to propose cybersecurity regulations for banks and insurance companies before the end of the year, and the implications for corporate treasury and finance likely are profound.
With implementation of ISO 20022 in the United States drawing closer, treasury and finance professionals who want to sharpen their knowledge of the standard should tune in for one of two upcoming webinars being offered by the Federal Reserve.
Corporate treasurers whose companies handle customer data need to take steps to keep themselves from ending up in a situation like Target.
AFP’s Payments Security Guide features key suggestions from the FBI Cyber Division on how treasury and finance professionals can shore up payments security.