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Justin Jones

BankingESG
October 18, 2021

Treasury’s Need for an ESG Filter to Keep the Focus Where It Belongs

Tech treasurers in Asia discuss ESG priorities with Goldman Sachs Asset Management. Members of NeuGroup for Asia Tech Treasurers heard insights on treasury’s growing role in the accelerating efforts of corporates to promote sustainability through environmental, social and governance (ESG) initiatives at a recent meeting sponsored by Goldman Sachs Asset Management (GSAM). Among the key takeaways: Figuring out what matters and what doesn’t to investors and other stakeholders diving into the ESG pool is critical for treasurers facing pressure to innovate and manage…
Justin Jones
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RegionalTreasury Management
October 18, 2021

Payoffs From ‘Preaching the Gospel of Global Treasury Operations’

Partnering with global business services (GBS) helped one treasury team boost cash visibility and achieve consistency.Companies expanding globally have often left regional affiliates with their own treasury back offices to support the local business, resulting in fragmentation of the treasury function and costly inefficiencies. That takes time away from corporate treasury that could be spent addressing more strategic issues.   “Preaching the gospel of global treasury operations,” the assistant treasurer (AT) of one NeuGroup member company said, required convincing local…
Justin Jones
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FXTalking Shop
October 18, 2021

Talking Shop: Who Outside Treasury Reviews Hedging Strategy?

Editor’s note: NeuGroup’s online communities provide members a forum to pose questions and give answers. Talking Shop shares valuable insights from these exchanges, anonymously. Send us your responses: [email protected]. Member question: “Do other companies review their FX hedge strategy with functions/leadership outside of treasury? “We review FX impact results (underlying + hedge) monthly with the CFO, but we don’t discuss our hedge strategy, which has raised questions on governance.“If you do review your hedge strategy (hedge ratios, currencies, execution approach, instrument…
Justin Jones
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NeuGroup News
October 7, 2021

Achieving Best Practice with NeuGroup

Benchmarking with fellow NeuGroup members has been influential for Medtronic treasurer Tim Husnik.  Medtronic Senior Director Tim Husnik’s mission to achieve treasury best practices started with learning what other world-class companies are doing by listening to his peers at NeuGroup peer group meetings.  “Your first goal is: You got to get to best practice,” he said. “Seeing what other peers are doing through the NeuGroup, that was my first way to see, at other companies, how are people doing this?”  The NeuGroup advantage: achieving best practice. Hear Mr. Husnik’s full thoughts on how NeuGroup helped…
Justin Jones
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BankingCompliance
October 7, 2021

A Treasury Dream Coming True: Handing KYC to Corporate Governance 

One treasury team made a winning case that the governance group should own KYC.Call it reaching the treasury promised land or a dream come true. Whatever you call it, one treasury team’s early-stage success at shifting responsibility for know your customer (KYC) compliance to a corporate governance group generated plenty of buzz and some envy at a recent meeting of NeuGroup for Global Cash and Banking. “I’m really excited to get out of the KYC business,” the member told his peers…
Justin Jones
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CryptoRisk Management
October 7, 2021

Cryptocurrency Challenges: A Risk Manager Prepares with Peers

Insights and observations on the intersection of treasury and crypto in a video interview with Medtronic’s Tim Husnik.Medtronic senior treasury director Tim Husnik loves a challenge. So it’s no surprise that he’s giving lots of thought to what his FX risk management team and other treasury groups will need to do, and how to do it, if Medtronic customers start asking to pay for products with cryptocurrency. “There will be an intersection with treasury at some point in the future,”…
Justin Jones
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Investment ManagementTalking Shop
October 7, 2021

Talking Shop: Cash Needs in Israel, Cash Investments in China

Editor’s note: NeuGroup’s online communities provide members a forum to pose questions and give answers. Talking Shop shares valuable insights from these exchanges, anonymously. Send us your responses: [email protected]. Member question: “A global banking partner is discontinuing physical cash services in Israel, where our cash needs typically exceed ATM levels. “Does anyone have experience obtaining USD and ILS (Israeli new shekel) in country without opening a local bank account?” Peer answer: “Our global bank partner can offer USD and ILS accounts…
Justin Jones
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BankingTechnology
October 5, 2021

Money Is Time: How TIS Simplified One Treasurer’s Bank Connectivity

With flexibility in both bank file types and system compatibility, TIS can be the key to a “best-of-breed” approach. Fernando Tenuta, an assistant treasurer at the staffing solutions provider ManpowerGroup, knew he was in for a steep climb when he was tasked with digitizing treasury and assisting with a cloud-based ERP. But he got a lift in the form of Treasury Intelligence Solutions (TIS), a bank connectivity aggregator whose solutions are specifically designed to make this kind of process simpler.…
Justin Jones
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CryptoCyber risk
September 30, 2021

The Treasury Cryptocurrency Handbook, Chapter 1: Ransomware

Finance teams prepare for questions on crypto as corporates plan for ransomware attacks.Cryptocurrency and ransomware proved popular topics at a recent meeting of NeuGroup for Global Cash and Banking, during both the Projects and Priorities session and in a smaller breakout group. Some members are being asked how treasury plans to respond if cryptocurrency is needed in the event of a ransomware attack.Most members said their companies have no current interest in investing in or holding cryptocurrency.  A few members…
Justin Jones
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ESGRisk Management
September 30, 2021

Environmental Scrutiny: Internal Audit Takes Stock of ESG Goals

As ESG initiatives grow, audit teams work to ensure companies meet their publicized targets. At recent NeuGroup meetings, internal audit heads discussed taking the first steps at integrating ESG into their audit plans, conducting tests to ensure alignment with public statements on environmental goals. Though only a handful of members currently have ESG in their audit plan, others recognized the need and are kickstarting the process to get out ahead.ESG goals “can become a sales pitch,” one member said, adding he…
Justin Jones
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