Retail treasurers were dealt a harsh blow when the Supreme Court declined to hear a challenge to a lower court decision that upheld current rules on debit interchange fees.
Big 5 Sporting Goods began its ERM program in 2011. The CFO took the leading role and has been the champion of the program internally. He assigned the ERM leadership role to treasury.
Uncertainty over corporate earnings continues but is leveling off, according to the 2015 AFP Risk Survey, produced in conjunction with Oliver Wyman, part of Marsh & McLennan Companies. Cyberattacks are also top-of-mind for many financial professionals, with reputational risk viewed as the most serious consequence.
President Barack Obama’s annual State of the Union Address last night offered little for corporate treasury and finance professionals. The speech, which focused on what the President called “middle-class economics,” did address corporate taxes and cybersecurity.
While some payments analysts argue that EMV chip-and-PIN cards do not provide much more security than chip-and-signature cards, Sen. Mark Warner (D-Va.) disagrees. Warner is calling on regulators to force banks to issue chip-and-PIN cards.
AFP is seeking qualified subject matter experts to participate on the Certified Treasury Professional (CTP) Body of Knowledge Committee. “The Essentials of Treasury Management”, the body of knowledge (BoK) for AFP and the CTP examination, is reviewed and updated every three years.
Happy 2015! The New Year has already brought plenty of risk -- plummeting oil prices, the rising U.S. dollar and European troubles. But the January Risk newsletter is here to help.
After Spectra Energy became an independent, publicly traded company, it need to determine a central location where risk excellence would reside. It was agreed that the function would reside under the CFO’s purview, and the treasury department was ultimately selected to lead the effort.
There are many reasons why many of today’s CFOs are not satisfied with their FP&A processes, not the least of which is having to perform activities that do not add value. However, driver-based planning—the focus of the latest meeting of the Dubai FP&A Club—can dramatically reduce these activities.
Do you work in accounts payable and/or accounts receivable? If so, the Accredited Standards Committee X9 wants to hear from you.
The soaring U.S. dollar and weakening foreign economies are hurting American multinationals’ earnings, treasurers tell AFP. But there are steps treasurers can take to fight back.
Treasurers can't afford to wait any longer on stepping up their cybersecurity efforts. President Obama has proposed legislation that would mandate companies notify the public within 30 days in the event of a breach.
Forecasts give an indication of the most likely outcome, within an assumed business environment. Here are two ways the forecasting processing can be greatly improved.
Analysts expect the soaring dollar, falling oil prices and expected volatility in the stock market in 2015 to wreak havoc on corporate earnings. The increased volatility is pushing companies into practicing what experts label risk-adjusted forecasting.
The United States continues to enjoy a healthy rate of growth, an improving employment situation, low interest rates, little inflation, and dropping energy costs. But while the U.S. economy seems to be on the ascent, the concern for the rest of the world is deflation and economic malaise.
At Diebold, treasury is included in the finance track of the company’s multi-track ERM program. For treasury, the chief risks tracked are cash management and foreign exchange.
With hackers stepping up their game, a breach at another major retailer, and a $31-million fraudulent wire transfer, the New Year is off to a scary start.
Liz Garner, vice president of the Merchant Advisory Group, discusses the pros and cons of retailers choosing chip and signature over chip and PIN, and weighs in on whether merchants as a whole will make the transition to EMV ahead of the October 2015 deadline.
On AFP’s discussion list, corporate treasury and finance professionals discussed ACH: CCD, PPD or CTX. What is the risk of incorrectly sending an individual a CCD payment or a corporation a PPD payment?
What does value creation mean – for companies and for financial planning and analysis professionals? And how do you measure it? The latest issue of FP&A newsletter digs deep to find the answers.
Speaking at AFP’s Annual Conference is a great opportunity to share what you’ve learned with your peers on an important stage. In order to speak, your session submission needs to stand out from stiff competition.
Treasury and finance professionals have largely been on the fence over virtual currencies—but several recent developments might send them running in the opposite direction. Bitcoin isn't off to a good start in 2015.
A new CTC guide, How Treasury Can Lead ERM, sponsored by Reval, argues that the treasury group can be the most appropriate champion of ERM efforts within the organization.
Chip-and-PIN technology for credit cards has been used in most of the developed world for over a decade. In Europe, Canada and Australia, chip-and-PIN is the standard. The United States, however, has lagged behind in this department, opting only to require PIN with debit cards (and even that is optional).
What is the most important point to remember when communicating with executives who don’t focus on numbers in their daily work? According to Irena Barisic, deputy CFO at the Brookings Institution, you first need to determine the purpose or goal of your communication.
As we close out the year, AFP is taking a look back at the most-read articles of 2014. How treasury can demonstrate its value to the CFO, as well as what treasury needs to do about new rules for money market funds and the Foreign Account Tax Compliance Act (FATCA) were hot topics this year.
As 2014 draws to a close, and we look back at the 10th annual Executive Institute at the AFP Annual Conference, the common thread that ran through the discussions was about global interconnectivity and the geopolitical and economic trends that affect us all.
ChildFund International regularly operates in remote areas where consumers have no access to banks, therefore, payroll has to be delivered by armored car—often a highly dangerous practice. To overcome this challenge, ChildFund’s treasury team rolled out a custom mobile payment program.
Will interest rates finally rise in 2015? According to a consensus of economists who spoke to AFP, it looks like it will happen in the United States—and across the globe.
AFP recently spoke with a number of economists on their expectations for the global economy in 2015. Canada and the Asia-Pacific region both look strong, while eurozone growth appears anemic.
The Home Depot breach has reportedly cost community banks more than $90 million, setting the stage for possible legal action. As accusations and lawsuits begin to pile up over data breaches, corporate treasurers need to consider just how much their organizations could be on the hook if an incident occurs.
The outlook for 2015 is all about global interconnectivity and geopolitical and cyber risks. Given that view, it is quite useful for those focused on managing risks to be able to avail themselves of a seminal work in risk, the 2014 Risk Journal produced by Oliver Wyman.
The Federal Reserve's new favorite word is "patient." That is how the central bank is describing its sense for the timing of when it will begin raising short-term interest rates.
This month features an in-depth look at how treasurers can adequately prepare themselves for meeting with the CFO, CEO and other internal stakeholders. Also, new AFP Chairman Anthony Scaglione, CTP, talks key leadership traits, and CFO Cindy Kraft provides financial professionals with tips on how to market themselves.
Value creation is one of the most commonly abused term in corporate strategy. How do companies create value? How do you measure it? How does finance fit in all this?
With new payments entrants disrupting the market, a security breach epidemic, and a push for new standards, payments are top of mind for treasury and finance professionals. This month, AFP Payments looks back on the key trends in 2014, and attempts to gauge just what they could mean as we head into the new year.
AFP spoke with a cross-section of economists and financial executives to get their perspective on 2015 and they agree: the U.S. economy looks primed to continue steady growth.
The Dec. 15, 2014 deadline has passed and COSO 1992 has been superseded by COSO 2013. Not interested in complying with COSO 2013? Your external auditors may have a different opinion.
The United States Supreme Court has delayed until Jan. 12 whether to hear a case seeking to overturn a key provision of the Dodd-Frank Act.
Conducting a request for proposal (RFP) for banking services is one of the most time-consuming tasks treasury teams face. In a new Treasury in Practice guide, underwritten by KeyBank, AFP provides treasurers with best practices for conducting a successful banking RFP.