Articles
2022 Pinnacle Finalists: Comcast Capital Corporation, Marsh McLennan and Oracle Cerner
Comcast Capital Corporation, Marsh McLennan and Oracle Cerner are finalists for the AFP 2022 Pinnacle Award. Sponsored by MUFG, the AFP Pinnacle Award was established in 1997 to recognize excellence in treasury and finance.
Comcast Capital Corporation, Marsh McLennan and Oracle Cerner are finalists for the AFP 2022 Pinnacle Award. Sponsored by MUFG, the AFP Pinnacle Award was established in 1997 to recognize excellence in treasury and finance.
08/30/2022
2022 AFP Liquidity Survey: Short-Term Investing in Turbulent Times
According to the 2022 AFP Liquidity Survey, underwritten by Invesco, safety continues to be the most valued short-term investment objective for organizations. During the companion webinar to the survey, an expert panel discussed planning liquidity in times of uncertainty.
According to the 2022 AFP Liquidity Survey, underwritten by Invesco, safety continues to be the most valued short-term investment objective for organizations. During the companion webinar to the survey, an expert panel discussed planning liquidity in times of uncertainty.
08/29/2022
CTP Profile: Another Auditor Goes Treasurer
Christiana Lim's education, a degree in accounting and finance, was the perfect backdrop to the career path she started down: working for one of the big four audit firms. But despite enjoying aspects of the job — the environment, working with a variety of clients — it wasn’t where her heart was.
Christiana Lim's education, a degree in accounting and finance, was the perfect backdrop to the career path she started down: working for one of the big four audit firms. But despite enjoying aspects of the job — the environment, working with a variety of clients — it wasn’t where her heart was.
08/26/2022
8 Differences Between Accounting and FP&A
Two forces are moving in tandem to tempt accounting personnel to move into financial planning and analysis (FP&A). First is a change at the corporate level. In recent years, organizations realized they needed staff with finance skills to improve forecasting and modeling and to work with the business. The second is more personal.
Two forces are moving in tandem to tempt accounting personnel to move into financial planning and analysis (FP&A). First is a change at the corporate level. In recent years, organizations realized they needed staff with finance skills to improve forecasting and modeling and to work with the business. The second is more personal.
08/23/2022
MEA Treasury Professionals React to Economic Issues in Egypt
Inflation is running rampant in Egypt. As the Egyptian pound (EGP) becomes inflated, companies are updating their prices and cutting back on output, thereby slowing the flow of goods. They cannot get banks to exchange EGP for USD — banks do not want to make the currency conversion due to the currency risk (1 EGP = .05 USD at the time of publication) — and they have no access to outside markets.
Inflation is running rampant in Egypt. As the Egyptian pound (EGP) becomes inflated, companies are updating their prices and cutting back on output, thereby slowing the flow of goods. They cannot get banks to exchange EGP for USD — banks do not want to make the currency conversion due to the currency risk (1 EGP = .05 USD at the time of publication) — and they have no access to outside markets.
08/17/2022
APAC FP&A Advisory Council: How Do We Forecast Now?
The AFP Asia-Pacific Financial Planning & Analysis Advisory Council (FPAAC) met to discuss what financial forecasting looks like now when there are so many disruptions. The group talked about defining their financial guidelines, re-examining budgeting and forecasting processes, and changing metrics used to operate the company.
The AFP Asia-Pacific Financial Planning & Analysis Advisory Council (FPAAC) met to discuss what financial forecasting looks like now when there are so many disruptions. The group talked about defining their financial guidelines, re-examining budgeting and forecasting processes, and changing metrics used to operate the company.
08/16/2022
Cost Accounting to FP&A: How to Transition & Grow
After spending most of his career in traditional cost accounting roles, Benn Wann recently changed jobs from manufacturing plant controller to head of FP&A. Making this type of change within the office of the CFO can hold many benefits for those with a strong accounting foundation.
After spending most of his career in traditional cost accounting roles, Benn Wann recently changed jobs from manufacturing plant controller to head of FP&A. Making this type of change within the office of the CFO can hold many benefits for those with a strong accounting foundation.
08/11/2022
APAC Treasury Advisory Council Profile: Shankar Ramaswamy, MBA, CTP
As a treasury business partner working in Group Treasury for Travelopia, Shankar Ramaswamy, MBA, CTP, covers a lot of ground. The experiential travel company he works for operates in over 130 source markets and 150 destinations across all continents.
As a treasury business partner working in Group Treasury for Travelopia, Shankar Ramaswamy, MBA, CTP, covers a lot of ground. The experiential travel company he works for operates in over 130 source markets and 150 destinations across all continents.
08/10/2022
Solving Problems with the Resources You Already Have
Corporate treasury and finance professionals are often tasked with solving big problems using existing resources. Dr. Simone Ahuja makes the case that a growth mindset and a simple toolkit of strategies are all you need to generate high-value solutions.
Corporate treasury and finance professionals are often tasked with solving big problems using existing resources. Dr. Simone Ahuja makes the case that a growth mindset and a simple toolkit of strategies are all you need to generate high-value solutions.
08/04/2022
CTP Profile: Dinner with a Client Changed His Life
He got his start in treasury over dinner. That’s how Lionel Lee, CTP, tells it. Lee started his career in investment banking, then, after working in the field for four years, dinner with a client changed his life. “During the dinner they asked me if I wanted to move to Hong Kong to join their corporate treasury team,” said Lee. “I thought it was, holistically, a good move, so I said yes.”
He got his start in treasury over dinner. That’s how Lionel Lee, CTP, tells it. Lee started his career in investment banking, then, after working in the field for four years, dinner with a client changed his life. “During the dinner they asked me if I wanted to move to Hong Kong to join their corporate treasury team,” said Lee. “I thought it was, holistically, a good move, so I said yes.”
08/04/2022
What Financial Planning and Analysis Looks Like Today
Both inside and outside of finance, FP&A — or financial planning & analysis — is often poorly understood. You might even know it by a different name, depending on your company or location. Regardless, the goal of FP&A is always the same: to optimize the use of capital and resources by supporting business decisions.
Both inside and outside of finance, FP&A — or financial planning & analysis — is often poorly understood. You might even know it by a different name, depending on your company or location. Regardless, the goal of FP&A is always the same: to optimize the use of capital and resources by supporting business decisions.
08/03/2022
Treasury as a Profit Center: Learning from Government Organizations
For organizations thinking of using their treasury as a profit center, there are many factors to consider. In a recent webinar, “Treasury as a Profit Center: A Government’s Perspective,” Tony Vu, CTP, treasurer and chief investment officer of the University of Colorado System, shared his experience operating treasury as a profit center for three government or government-like organizations.
For organizations thinking of using their treasury as a profit center, there are many factors to consider. In a recent webinar, “Treasury as a Profit Center: A Government’s Perspective,” Tony Vu, CTP, treasurer and chief investment officer of the University of Colorado System, shared his experience operating treasury as a profit center for three government or government-like organizations.
08/01/2022
Webinar Q&A: Risks for Payments Fraud and Mitigation Strategies
Overall payments fraud was down in 2021, according to the 2022 AFP Payments Fraud and Control Survey, underwritten by J.P. Morgan. Even so, the survey finds that the underlying fraud by payment type is changing, as companies shift from paper to digital methods.
Overall payments fraud was down in 2021, according to the 2022 AFP Payments Fraud and Control Survey, underwritten by J.P. Morgan. Even so, the survey finds that the underlying fraud by payment type is changing, as companies shift from paper to digital methods.
08/01/2022
9 Critical Pitfalls to Avoid on the AI Journey in Finance
Data insights provided by AI can allow finance professionals to move faster and nimbler, make more data-driven decisions and transform business operations. The main applications of AI in finance are financial modeling and forecasting.
Data insights provided by AI can allow finance professionals to move faster and nimbler, make more data-driven decisions and transform business operations. The main applications of AI in finance are financial modeling and forecasting.
07/22/2022
When an In-house Bank Makes Sense
Using your company’s own resources for financing, an in-house bank (IHB) is a cost-effective way of consolidating your treasury functions into one central entity rather than having each subsidiary work through a different local bank. It is transparent and efficient, and allows you to centrally handle your banking relationships, currency risk, payments and collections.
Using your company’s own resources for financing, an in-house bank (IHB) is a cost-effective way of consolidating your treasury functions into one central entity rather than having each subsidiary work through a different local bank. It is transparent and efficient, and allows you to centrally handle your banking relationships, currency risk, payments and collections.
07/19/2022
Planning Liquidity in Times of Uncertainty
The 2022 AFP® Liquidity Survey, underwritten by Invesco, aims to understand current and emerging trends in organizations’ cash and short-term investment holdings, investment policies and strategies in the current economic environment. The key findings are formed by the nearly 300 treasury practitioners who responded to the survey.
The 2022 AFP® Liquidity Survey, underwritten by Invesco, aims to understand current and emerging trends in organizations’ cash and short-term investment holdings, investment policies and strategies in the current economic environment. The key findings are formed by the nearly 300 treasury practitioners who responded to the survey.
07/18/2022
How Finance Deals with Supply Chain Challenges
Supply chain issues are affecting every single business in the world in some way, shape or form. For an international tire manufacturer and hospital supply chain group, this is a mission-critical issue. So how are they dealing with it? How have things changed over the past two years, and have prices increased as a result? To find out, AFP’s Bryan Lapidus, director of FP&A Practice sat down with Tom Russell, CPA & FPAC, director of Global FP&A for Cooper Tire & Rubber Company, and Pete Geiler, director of supply chain finance for a large hospital system.
Supply chain issues are affecting every single business in the world in some way, shape or form. For an international tire manufacturer and hospital supply chain group, this is a mission-critical issue. So how are they dealing with it? How have things changed over the past two years, and have prices increased as a result? To find out, AFP’s Bryan Lapidus, director of FP&A Practice sat down with Tom Russell, CPA & FPAC, director of Global FP&A for Cooper Tire & Rubber Company, and Pete Geiler, director of supply chain finance for a large hospital system.
07/14/2022
New DEI Partnership Seeks to Increase Awareness of Treasury and Finance Careers
AFP is proud to announce that Wells Fargo has joined the AFP Diversity, Equity and Inclusion (DEI) Initiative for Treasury and Finance, which introduces treasury and finance careers to underrepresented communities.
AFP is proud to announce that Wells Fargo has joined the AFP Diversity, Equity and Inclusion (DEI) Initiative for Treasury and Finance, which introduces treasury and finance careers to underrepresented communities.
07/12/2022
What Is Driving, and Enabling, Digitization in Treasury?
It is clear that automation and digitization permitted companies to continue to operate in a remote working environment in a way that simply would not have been possible just a few years ago. The requirement to work remotely simply accelerated changes that were already in transit. So what happens next?
It is clear that automation and digitization permitted companies to continue to operate in a remote working environment in a way that simply would not have been possible just a few years ago. The requirement to work remotely simply accelerated changes that were already in transit. So what happens next?
07/11/2022
The Many Faces of FP&A: Which One Are You?
In our roles as FP&A professionals, we carry out our craft under the guise of a multitude of archetypes. In a fun — and telling — exercise, we recently presented the FP&A Advisory Committee with the following slate of images and asked: Which one best describes you as you’re engaged in the FP&A function at your organization? Below is what they had to say.
In our roles as FP&A professionals, we carry out our craft under the guise of a multitude of archetypes. In a fun — and telling — exercise, we recently presented the FP&A Advisory Committee with the following slate of images and asked: Which one best describes you as you’re engaged in the FP&A function at your organization? Below is what they had to say.
07/11/2022
Hiring? Six Ways to Land Top FP&A Talent - And Five Ways for Candidates to Stand Out
The struggle to find - and secure - finance and accounting talent is real and palatable. AFP’s North American FP&A Advisory Council (FPAAC) recently met to discuss the recruiting and hiring landscape.
The struggle to find - and secure - finance and accounting talent is real and palatable. AFP’s North American FP&A Advisory Council (FPAAC) recently met to discuss the recruiting and hiring landscape.
07/05/2022
Personal Growth: Learn, Unlearn and Relearn
Anxiety over job security is real. The World Economic Forum reports that 42% of core skills required for most jobs are going to change by 2022, and many sources estimate the half-life of most professional skills to be five years or less.
Anxiety over job security is real. The World Economic Forum reports that 42% of core skills required for most jobs are going to change by 2022, and many sources estimate the half-life of most professional skills to be five years or less.
07/01/2022
Treasury Professionals Discuss Getting the Best Rates on FX
AFP recently met with a group of treasury professionals from the Asia-Pacific Region (APAC) to find out which methods their companies are using to get the best rates on FX (foreign exchange) contracts and derivatives.
AFP recently met with a group of treasury professionals from the Asia-Pacific Region (APAC) to find out which methods their companies are using to get the best rates on FX (foreign exchange) contracts and derivatives.
06/30/2022
We Took a Deep Dive into Data; Here’s What We Learned
The AFP FP&A Series is a half day, virtual mini conference designed to take a deep dive into one cutting-edge topic per event. The first event was titled, “Get Your Data Right” and was held in June and exclusively sponsored by AARP.
The AFP FP&A Series is a half day, virtual mini conference designed to take a deep dive into one cutting-edge topic per event. The first event was titled, “Get Your Data Right” and was held in June and exclusively sponsored by AARP.
06/30/2022
A Three-step Route to Optimization
Companies are under constant pressure to operate as efficiently as possible, and the treasury department is no exception. Automation of mundane activities offers a clear way to improve efficiency. The difficulty for most treasury practitioners is determining how best to automate the range of activities within the department.
Companies are under constant pressure to operate as efficiently as possible, and the treasury department is no exception. Automation of mundane activities offers a clear way to improve efficiency. The difficulty for most treasury practitioners is determining how best to automate the range of activities within the department.
06/27/2022
FPAC: Making a Successful Transition from Accounting to FP&A
AFP recently caught up with Kamlesh Bhojwani, FPAC, senior director and head of Finance, Facilities & Finance Shared Services at AMH’s Global Capability Center (GCC) in India, to discuss his decision to earn the FPAC, and how it has affected his life and career journey.
AFP recently caught up with Kamlesh Bhojwani, FPAC, senior director and head of Finance, Facilities & Finance Shared Services at AMH’s Global Capability Center (GCC) in India, to discuss his decision to earn the FPAC, and how it has affected his life and career journey.
06/21/2022
Vigilance and Education Are Key to an Effective Fraud Response Say Experts
Fraud continues to dominate and indiscriminately impact companies of all sizes and across all industries with ever more sophisticated methods. For the 14th year in a row, J.P. Morgan has underwritten AFP’s Payments Fraud and Control Survey to support the education, insights and knowledge it provides in the hope of protecting our companies and our flows.
Fraud continues to dominate and indiscriminately impact companies of all sizes and across all industries with ever more sophisticated methods. For the 14th year in a row, J.P. Morgan has underwritten AFP’s Payments Fraud and Control Survey to support the education, insights and knowledge it provides in the hope of protecting our companies and our flows.
06/21/2022
APAC Treasury Advisory Council Profile: Max Sunarcia
Having served Jardine Matheson of Hong Kong for 9 years, Max Sunarcia, Group Treasurer, is a relative newcomer to the nearly 200-year-old company. An Asian-based conglomerate mainly operating in, you guessed it, Asia, the company is focused on China and South-East Asia.
Having served Jardine Matheson of Hong Kong for 9 years, Max Sunarcia, Group Treasurer, is a relative newcomer to the nearly 200-year-old company. An Asian-based conglomerate mainly operating in, you guessed it, Asia, the company is focused on China and South-East Asia.
06/16/2022
De-Conflicting Terminology of Analytics
In attaining an analytics culture, the mindset an organization embraces must be aligned with its attitude toward decision-making.
In attaining an analytics culture, the mindset an organization embraces must be aligned with its attitude toward decision-making.
06/14/2022
New Partnership Seeks to Drive Capability Building for Finance Teams in Support of Bold CFO Agendas
The Association for Financial Professionals (AFP) has partnered with Bain & Company to meld the Company’s performance improvement expertise with AFP’s finance industry acumen in order to invest in industry-leading finance training for Bain’s clients. This partnership will also deliver the most cutting-edge industry insights on financial planning and analysis (FP&A) and treasury.
The Association for Financial Professionals (AFP) has partnered with Bain & Company to meld the Company’s performance improvement expertise with AFP’s finance industry acumen in order to invest in industry-leading finance training for Bain’s clients. This partnership will also deliver the most cutting-edge industry insights on financial planning and analysis (FP&A) and treasury.
06/13/2022
FPAC Profile - Kelvin Chu: An Advocate for Modern Accounting Found FP&A
Kelvin Chu, CA, CFA, FPAC located in New Zealand, started his career in audit. It provided him with first-hand insights into how different finance disciplines would collaborate and drive financial values.
Kelvin Chu, CA, CFA, FPAC located in New Zealand, started his career in audit. It provided him with first-hand insights into how different finance disciplines would collaborate and drive financial values.
06/13/2022
Why 2020 Mattered So Much for Bank Fees
AFP Service Codes are used in bank billing to allow corporate treasurers to perform analytics on their cash management spend. The new AFP 2020 version of the codes is a major facelift to the old 2013 version, with only 32% of the codes left unchanged.
AFP Service Codes are used in bank billing to allow corporate treasurers to perform analytics on their cash management spend. The new AFP 2020 version of the codes is a major facelift to the old 2013 version, with only 32% of the codes left unchanged.
06/06/2022
Before and After Data Visualizations
Creating good visuals to communicate quantitative information is part art and part science. With the increased focus on business partnership and communication, “now” is always a great time to ask if your reports are effectively delivering your message in a clear, succinct manner.
Creating good visuals to communicate quantitative information is part art and part science. With the increased focus on business partnership and communication, “now” is always a great time to ask if your reports are effectively delivering your message in a clear, succinct manner.
06/06/2022
Impacts of the War in Ukraine on the Asia-Pacific Region
AFP’s director of Treasury Services, Tom Hunt, CTP, recently sat down with a group of treasury professionals in the APAC region to talk about the impacts of the war in Ukraine.
AFP’s director of Treasury Services, Tom Hunt, CTP, recently sat down with a group of treasury professionals in the APAC region to talk about the impacts of the war in Ukraine.
05/30/2022
CTP Profile: From Theoretical to Fully Realized
When he started in treasury, Deepak Patil had only a theoretical idea of how a treasury department functions. “And I had absolutely no idea how the financial operations, middle office and back office are separated by the systems and extensive responsibilities each department caters to,” he said. But he knew one thing for sure: that he wanted to get in to treasury.
When he started in treasury, Deepak Patil had only a theoretical idea of how a treasury department functions. “And I had absolutely no idea how the financial operations, middle office and back office are separated by the systems and extensive responsibilities each department caters to,” he said. But he knew one thing for sure: that he wanted to get in to treasury.
05/27/2022
What is Cash Forecasting?
When it comes to cash forecasting, the primary goal of treasury is to ensure the organization has enough cash to meet its obligations over a certain time period. Thanks to most organizations partaking in the trend of having a forensic-level focus on cash, treasury has a much clearer view of the dynamics of and correlations between the various cash flows that make up the forecasts.
When it comes to cash forecasting, the primary goal of treasury is to ensure the organization has enough cash to meet its obligations over a certain time period. Thanks to most organizations partaking in the trend of having a forensic-level focus on cash, treasury has a much clearer view of the dynamics of and correlations between the various cash flows that make up the forecasts.
05/26/2022
CTP Profile: Capital and Liquidity Management in an Emerging Market
After graduating from Business School, Sovanna Tang, CTP, took a job as a senior associate, where he largely worked in audit. He then worked as an accounting specialist. “The work in financial reporting is complicated at first, but eventually it is quite mundane and becomes routine,” said Tang. That’s when he decided to make the transition to capital liquidity control.
After graduating from Business School, Sovanna Tang, CTP, took a job as a senior associate, where he largely worked in audit. He then worked as an accounting specialist. “The work in financial reporting is complicated at first, but eventually it is quite mundane and becomes routine,” said Tang. That’s when he decided to make the transition to capital liquidity control.
05/25/2022
CTP Profile: Venturing into the Treasury Domain
From the beginning of his time with Moody’s Analytics, Shakalya Nag, CTP, wanted to venture into the treasury domain. Understanding the systems and processes was of great interest to him. Then he started working on RFPs for major MNC banks in their treasury domain, and he’s has been working on the sales side of treasury operations and fund compliance ever since.
From the beginning of his time with Moody’s Analytics, Shakalya Nag, CTP, wanted to venture into the treasury domain. Understanding the systems and processes was of great interest to him. Then he started working on RFPs for major MNC banks in their treasury domain, and he’s has been working on the sales side of treasury operations and fund compliance ever since.
05/25/2022
Handling the Skills Gap in the Asia-Pacific Region
AFP recently met with a group of treasury professionals in the APAC region to see how things are progressing for the treasury profession there, if there is a skills gap, and if so, how it’s being addressed. The following is a compilation of their thoughts and insights.
AFP recently met with a group of treasury professionals in the APAC region to see how things are progressing for the treasury profession there, if there is a skills gap, and if so, how it’s being addressed. The following is a compilation of their thoughts and insights.
05/24/2022
Report Renovations: How to DIY an Effective Presentation
What goes into an effective presentation? How is it different when you’re in the finance profession? At our second “Report Renovations” webinar, we asked the attendees what storytelling means to them.
What goes into an effective presentation? How is it different when you’re in the finance profession? At our second “Report Renovations” webinar, we asked the attendees what storytelling means to them.
05/20/2022
