COVID-19Cyber riskTechnology
January 12, 2021

Locking Up: Preventing Cyberfraud Attacks by Identifying Weaknesses

NeuGroup members share successes and failures keeping their companies secure amid the shift to an all-digital workforce.The all-digital work from home environment has left treasury teams more connected to their devices than ever, but also left them—and their companies—more vulnerable to fraud. But by identifying weaknesses early, teams can resolve issues before fraudsters even have a chance to strike. Members at a recent meeting of NeuGroup’s Treasurers’ Group of Thirty discussed their approaches to prevent the threat, one that continues…
ComplianceRisk Management
January 12, 2021

Why Internal Audit Needs to Blow Its Own Horn

Like other functions, internal audit needs to publicize its value to senior executives and the broader corporation.After the completion of a lengthy process audit at a multinational company, the chief audit executive (CAE) reported results to the owner of that process. After a cursory review, the process owner, also a senior executive, asked, “What else have you done?” The CAE was somewhat taken aback. The audit took several months and ate up lots of FTE hours. But since it only…
ComplianceFXTalking Shop
January 12, 2021

Talking Shop: Derivative Regulatory Compliance in Hedging Programs

Member question: “Our hedging programs have trading entities in multiple jurisdictions requiring continual monitoring of derivative regulatory compliance regulation. This is mostly handled internally, leveraging external counsel to advise on specific topics and questions. “How do others manage derivative regulatory compliance such as EMIR (European Market Infrastructure Regulation), FMIA (Financial Market Infrastructure Act) and others? Do you outsource, handle internally, hybrid solution or is it not applicable? Are there advisors that you would recommend?” Peer answer 1: “My company is…
TaxTreasury Management
January 7, 2021

Learning a New Language: Tax Experts Who Become Treasurers

Insights and advice from a tax professional who left her comfort zone to become treasurer. A “steep learning curve” is how one member of NeuGroup’s Treasurers’ Group of Thirty (T30) who has extensive experience in tax described what she encountered in taking on the added responsibility of treasury at her company at a recent meeting sponsored by Standard Chartered. She is one of several members in the group who previously led tax teams and are relatively new to leading treasury. Below…
Cash & Working CapitalRegionalTechnology
January 7, 2021

Raising the Bar: How AI, ML and Big Data Could Fix Cash Forecasts

Asia Treasury members discuss how advanced technology may boost satisfaction with forecasting tools.  A quick poll at a fall meeting of the Asia Treasury Peer Group sponsored by Standard Chartered underscored both the dissatisfaction of members with their cash forecasting tools and the intensifying scrutiny of cash positions by senior management since the beginning of the pandemic. None of the treasurers polled are highly satisfied with their current set of tools: 60% have low satisfaction and 40% said medium. All of…
COVID-19TechnologyTreasury Management
January 7, 2021

The Post-Covid Playbook: WFH Flexibility and Office Collaboration

The goal is keeping the good parts of work from home, replacing the bad with the benefits of office teamwork.Corporates looking ahead to a post-Covid world are taking stock of how the shift to work from home (WFH) has changed the ways that teams function—for better and worse. This requires weighing the beneficial flexibility offered by remote work against the detrimental loss of collaboration that is only possible when people are in the same building. As some companies consider abandoning…
BankingTalking Shop
January 7, 2021

Talking Shop: Allowing Vendors to Directly Debit Bank Accounts

Member question: “What are your policies with respect to allowing vendors to direct debit your bank accounts for invoices due? “Our policy does not support vendor direct debit of our bank accounts. We do have an exception process for situations where vendor stoppage may have material impact (i.e. utilities for a manufacturing plant) or the vendor requires DD and there are no other alternatives (i.e. postal service).“I think part of our position is a historical perception that it is ‘bad’…
Cash & Working CapitalTechnology
January 5, 2021

Getting Granular: A Tool to Dig Deeper and Improve Cash Forecasts

How Cashforce built a stronger foundation for one member’s cash flow forecasting and working capital optimization.Covid-19 shook the foundations of cash flow forecasting and working capital management for companies facing uncertainty about revenues, vendor payments, appropriate inventory levels and adequate cash reserves. At a recent NeuGroup virtual interactive session, one participant impressed others by describing how a fintech solution provided by Cashforce a year earlier allowed his company to dig into the weeds of business operations, examining line-item details of…
Cash & Working CapitalRegional
January 5, 2021

The Right Steps on the Path to Optimizing Working Capital Management

MUFG presents a working capital road map for technology companies at NeuGroup’s AsiaTech20 pilot meeting. At the inaugural meeting of NeuGroup’s AsiaTech20 Treasurers’ Peer Group, sponsor MUFG led a session titled “Optimizing Working Capital (in Uncertain Times)” and participants discussed challenges including how to get vendors to extend payment terms, the need for efficient collections processes and developing KPIs around working capital.Working capital cycle. MUFG’s presentation identified four areas, and goals for each, in the working capital cycle. Big Picture. The…
BankingCapital Markets
January 5, 2021

Banks Craving Yield Hear Case for Lightly Structured Corporate Notes

An option for members of the Bank Treasurers’ Peer Group coping with excess liquidity amid rock-bottom rates.Many members of the Bank Treasurers’ Peer Group (BTPG) find themselves looking to their investment portfolios as they search for yield in a manner that complies with policy risk parameters—a theme heard at other NeuGroup meetings in the second half as interest rates fell. Banks face the added challenge of tepid loan growth amid a surge in deposits driven by a flight to safe…