The AFP Liquidity Survey finds that both the size and management of corporate short-term cash holdings stayed relatively steady over the past year. The reasons are two-fold. First, the business and regulatory climate remains one of middling economic growth and uncertainty. At the same time, the historic ultra-low interest rate environment has greatly reduced the opportunity to generate yield.
You've probably heard about The New York Times’ explosive report that Russian hackers stole more than a billion user credentials. You were likely encouraged to change your passwords immediately—for everything. What you may not have heard is that all of the panic could be over nothing.
FP&A professionals understand that they need better business intelligence (BI) and analytics to substantially improve their ability to have a profit impact. So why aren't companies investing in BI and analytics and delivering the analytical functionality FP&A professionals say they need?
This is the second part of a question and answer session on the new money market fund rules with Jim Gilligan, CTP, FP&A, assistant treasurer for Great Plains Energy, and Tom Hunt, CTP, director of treasury services, AFP.
Leadership in Treasury, a new publication from the Corporate Treasurers Council, may be the second in a series of e-documents from the CTC, but the subject matter is top of mind with treasury executives.
Contrary to its name, financial modeling is neither purely math nor finance. For a model to be effective, precision financial calculations and accuracy of the principles are not enough and are only part of the equation. The second and equally important part is the appropriate application of subjectivity.
NACHA has introduced a new program that aims to reduce online bill payment exceptions and check volume associated with exceptions, which cost the payments industry nearly $800 million per year.
The August issue features a case study of how the financial planning and analysis team at Edward Hospital and Health Services improved its reporting process. Plus, new editorial advisory board member Juan Arangote, FP&A, offers his insights on financial modeling.
In this exclusive video interview, Steve Overholser, CTP, CPA, CFO & Treasurer for Great Clips, Inc. discusses how his role has changed over the past five years. On the whole, treasury has become more involved in operations and strategic decision-making.
Gavin Waugh, the treasurer of Wendy's, tells how he achieved his career goal, and how he keeps his team motivated.
More than 600 retailers may have point-of-sale malware installed in their stores, according to a new warning from government officials. Cybercriminals are reportedly targeting businesses that use remote desktop applications.
In an AFP webinar, treasury and finance professionals received an in-depth look at the new money market fund rules approved by the Securities and Exchange Commission (SEC). Jim Gilligan, CTP, FP&A, assistant treasurer for Great Plains Energy, and Tom Hunt, CTP, director of treasury services for AFP, provided an update based on some of the feedback they’ve received from AFP members.
Immediately following the recent AFP webinar on money market funds, Jim Gilligan, CTP, FP&A, assistant treasurer for Great Plains Energy, and Tom Hunt, CTP, director of treasury services, AFP, held a question and answer session with treasury and finance professionals in which they provided further insights into the Securities and Exchange Commission’s new rules.
More than 1 million paper checks are delivered to US Foods’ sales force annually at customer locations as payment for deliveries. The checks are then taken personally by each sales associate to their local division for processing, which represented a real pain-point. US Foods needed a solution that would reduce these check-related challenges as much as possible.
What caused last week's volatility? Treasuries sold-off after the second quarter GDP report came in significantly higher than expected (+4.0 percent versus a consensus +2.9 percent). The fear was that the increase in economic activity would force the Fed’s hand to raise interest rates sooner rather than later to stem the tide of potential inflation.
After 15 years of preparation and an additional six-month extension, the wait is over. The single euro payments area (SEPA) is fully operational as of August 1.
The bitlicense regulatory framework recently proposed by the New York Department of Financial Services (DFS) has been met by considerable pushback from the bitcoin community. Bitcoin enthusiasts are arguing that the licenses will give an unfair advantage to the bitcoin businesses that have the most money.
FP&A professionals traditionally oversee the budgets, perform business planning, and provide financial insights to management. It is time for FP&A professionals to spend more time and effort emphasizing analysis instead of planning.
Corporates lending directly in tri-party repurchase agreements remain rare. Now, spurred by new money market fund regulations that likely will make this favorite short-term investment less attractive, corporate treasurers are re-visiting repos.
Using multiple financial institutions around the world is a challenge for any global treasurer. But for John Hanbury, CPA, CMA, treasurer for CHC Helicopter, corporate banking across the globe presented a liquidity management challenge. CHC realized that the only way to solve the issue was to move to a notional pooling structure.
Eric Smialek, FP&A, Senior Financial Analyst for Neustar, discusses his experience becoming part of the first class of Certified Corporate Financial Planning & Analysis (FP&A) professionals.
Mulling a proposal that would limit banks’ participation in the physical commodities market, the Federal Reserve is attempting a delicate balance—companies seeking to hedge commodity risk and concerns about systemic risk.
Treasury and finance executives whose companies do business in Russia and the Ukraine are seeing the effects of the mounting crisis on their bottom lines. The ruble’s exchange rate has plummeted, corporate borrowing is more expensive, and sanctions against individual banks are complicating cross-border payments.
Six individuals were arrested last week in connection with an international cybercrime ring that hacked more than 1,600 customer accounts. What’s different in this case is that the company detected the cybercriminals first instead of receiving the news of the hack, as usually happens, and then it alerted law enforcement.
Lisa Joublanc, CCM, CFA, Vice President and Treasurer for Global Payments, and Mary Guzman, Senior Vice President and E&O Practice Leader, McGriff, Seibels & Williams, discuss what treasurers need to consider when selecting cyber insurance coverage. They also provide a look at the 2012 cyber breach incurred by Global Payments.
Coinciding with the SEC’s money market mutual fund ruling for corporations, the AFP Corporate Cash Indicators ® (AFP CCI), underwritten by State Street Global Advisors, revealed that U.S. businesses built cash reserves at a faster pace during the second quarter of 2014 and invested those assets more conservatively. But the burst in cash accumulation is expected to be short lived.
The market had the feeling of being on a teeter-totter this past week, as general positive feelings about the U.S. economy were counter-balanced by geopolitical concerns, specifically in Ukraine and Gaza. Overseas, the flight to safety continued.
The Pension Benefit Guarantee Corporation (PBGC) recently announced a six-month moratorium on its enforcement of ERISA section 4062(e). The moratorium, scheduled to last till the end of 2014, will be used to review the application of 4062(e).
Vanguard’s Money Movement Unit, which initiates billions in payments on a daily basis, was too dependent on manual processes and legacy systems that couldn’t handle the workload. Migrating to a treasury workstation and utilizing SWIFT enabled the company to streamline its payments process and reduce risk.
Tom Hunt, CTP, Director of Treasury Services for the Association for Financial Professionals, lists 10 steps every treasurer should take to prepare for the new money market fund rules approved today by the Securities and Exchange Commission.
This month, we bring you two exclusive video interviews with members of our inaugural class of Certified Corporate Financial Planning & Analysis (FP&A) professionals. Travis Lockhart of IMC and Todd Peterson of AARP discuss why they were interested in taking the beta exam and how they prepared for it. Also this month, we have the second installment in the AFP Advisors Network's series on the three core competencies of independent consulting.
Todd Peterson, FP&A, Senior Financial Analyst for AARP, discusses why he wanted to be part of the first class of Certified Corporate Financial Planning & Analysis (FP&A) professionals.
In a 3-2 vote, the Securities and Exchange Commission passed a rule that will force institutional prime money market funds (MMFs) to move from a stable $1 per share net asset value (NAV) to a floating NAV. Additionally, the new rule also allows fund boards to impose two safeguards to stave off runs: liquidity fees of up to 2 percent on redemptions, and temporary suspensions of redemptions, or “gates.”
U.S. Treasury Secretary Jacob Lew is calling on the financial services sector to improve its efforts to better protect consumer data and strengthen defenses against cyberattacks, thefts and disruptions. He also called for legislation that advances public-private sector information sharing.
Greg Baldwin, Deputy Treasurer for Johnson County, Kansas, tells how his office streamlined its collections process.
After seven years of debate, one round of rules changes in 2010, followed by three more years arguing over yet another round of regulation, money market funds may get their final changes this Wednesday.
A downed commercial airliner in the Ukraine and yet another flare up of violence in the Middle East has caused a worldwide flight to safety. These events probably will not have much of a long-term effect on the strengthening U.S. economy. But as we have witnessed in recent years past, small, distant and seemingly unconnected events can have quite an unanticipated impact.
The New York Department of Financial Services (DFS) has released the details of its proposed BitLicense regulatory framework. If passed, New York would become the first state in the U.S. to directly regulate virtual currencies.
Today’s CFO superstar is involved in every aspect of the business, solving problems across all aspects of the organization. At the core of the problem solving is finance and numbers, but it is now intricately woven with operations and the need for a broader base of business and finance acumen.
Travis Lockhart, FP&A, CTP, Manager of Financial Planning & Analysis, IMC, discusses his experience preparing for and taking the Certified Corporate Financial Planning & Analysis (FP&A) Professional exam.