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Justin Jones

ESGRisk Management
December 3, 2020

Verifying Virtue: Who’s Checking on Those ESG Promises?

Assuring ESG numbers is coming, but for now internal audit is stepping lightly.Members of NeuGroup’s Internal Auditors’ Peer Group (IAPG) agreed that their companies’ environmental, social and governance efforts (ESG) often felt like marketing campaigns. Internal audit (IA) has so far provided little assurance regarding the validity of reported ESG numbers, but that likely is about to change. One member said his technology company’s investor relations team had for the first time reported out ESG numbers according to frameworks established…
Justin Jones
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InsuranceRisk Management
December 3, 2020

Softening the Blow of Rising Insurance Rates With Differentiation

Risk managers at life sciences companies hear analysis, share pain, discuss options. Virtually no company is immune to the ongoing pain meted out by rising insurance premiums in the wake of the pandemic. But one way to soften the blow, when possible, is differentiating yourself from the pack. That takeaway and others emerged this week at a NeuGroup meeting for life sciences treasurers featuring an update on property insurance and directors and officers (D&O) coverage by Brad Zechman, an account executive…
Justin Jones
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ESGRegionalTreasury Management
December 3, 2020

Europe in Flux: Business Decentralization, ESG and Brexit

Key takeaways from the European Treasury Peer Group 2020 H2 meeting sponsored by Standard Chartered. By Joseph NeuAgile businesses with centralized support functions. Covid-19 and the need for business pivots have, at some companies, sparked calls for the pendulum to swing back toward decentralized business authority to promote agility and swift decision-making. Treasury in turn is asking how best to support decentralized business accountability with the efficiencies and controls of a centralized corporate support function. It’s a perennial challenge. But now…
Justin Jones
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Libor SOFRRisk Management
December 1, 2020

What an Extended Libor Deadline May Mean for Corporates

Takeaways on a proposal backed by the Fed that would allow more legacy Libor contracts to mature. Libor relief? Monday brought news that US regulators welcome a proposal by Libor’s administrator to offer an additional 18 months—until June 30, 2023—for legacy contracts to mature before Libor fully winds down. Reuters called the plan a “stay of execution.” What it means for corporates. We reached out to Amanda Breslin, managing director of treasury advisory at Chatham Financial, to get the significance of…
Justin Jones
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BankingTechnology
December 1, 2020

Corporates to Banks: Untangle Processes, Offer Simple Solutions

NeuGroup members want simple but powerful improvements to banking services.In a recent meeting of treasurers for high-growth companies, sponsored by Bank of the West BNP Paribas, representatives from the bank opened a session with a question: how can banks improve treasurers’ experience? While not directing their response to Bank of the West specifically but rather to banks generally, the answer, overwhelmingly, was clear: simplify the day-to-day experience. NeuGroup members outlined how banks can streamline basic authorization and documentation processes that…
Justin Jones
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COVID-19Risk ManagementTreasury Management
December 1, 2020

Unearthing the Risks—from Printers to Stress—of Working from Home

Internal auditors discuss WFH challenges including data security and the mental health of employees.Internal auditors are trying to keep on top of myriad risks brought about by millions of employees at thousands of companies working from home as a result of the pandemic. At a recent NeuGroup meeting, two of the risks discussed demonstrated the wide spectrum of issues companies face, ranging from the somewhat mundane (printers) to the very personal (mental health). Risky printers. One member said her company…
Justin Jones
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BankingFXTalking Shop
December 1, 2020

Talking Shop: Whom Do You Pay Using Your Offshore Renminbi Account?

Member question: “Has anyone opened a CNH (offshore renminbi) account? And if so, what do you use it for? Do you: a) pay onshore China vendors, b) offshore vendors?”Peer answer: “Yes, we have a CNH account in Singapore. We bill to our local distribution entities in local currency and we use the account for intercompany receivables before converting to USD. We make FX settlement payments from the account.” For more insights on trends in Asia from NeuGroup Members, read founder…
Justin Jones
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COVID-19RegionalTechnology
December 1, 2020

China’s Digitalization, Quick Covid Recovery and Tension with the US

Key takeaways from the 2020 H2 Asia CFOs’ Peer Group meeting sponsored by Standard Chartered.By Joseph Neu2019 as the 2021 baseline. China has been the economy to bounce back soonest from Covid-19 and is up substantially in H2. Standard Chartered is forecasting 2020 GDP growth of +2.1% for China. Meanwhile, many of our member CFOs for greater China are hopeful that they will get back to flat for the year since some have had stellar Q3s and good Q4 outlooks,…
Justin Jones
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COVID-19Risk Management
November 24, 2020

Rightsizing and Reshaping: What Post-Covid Corporates May Look Like

Internal auditors assess risks as companies shift where and how employees work. Members of NeuGroup’s Internal Auditors’ Peer Group (IAPG) agreed that the pandemic will quite literally reshape the physical look of companies—mostly large technology firms—as well as introduce a host of new risk concerns that are just starting to be considered. Companies’ real estate is bound to shrink as they consider how and when to support the significant number of fully remote and hybrid employees—those coming to office less frequently—that…
Justin Jones
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Pension and BenefitsRisk Management
November 24, 2020

Pension Puzzle: Insights for Managers Putting the Pieces Together

Willis Towers Watson weighs in on WACC, the efficient frontier and pension financing alternatives.Pension fund managers evaluating alternative funding strategies should not necessarily use their companies’ weighted average cost of capital (WAAC) as a discount rate; the risks of the pension should be viewed differently than a normal project investment considered by the company. That was among the key takeaways from a recent NeuGroup Virtual Interactive Session sponsored by Willis Towers Watson, “Relative Value: Pension De-risking in a Post-Covid World.”…
Justin Jones
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