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Justin Jones

Risk ManagementTechnology
August 3, 2023

Generative AI’s Promise and Peril Weighed by ERM, Internal Audit

Analyzing interviews, drafting reports and auditing expense reports are among AI use cases for auditors and risk managers. At recent peer group meetings of NeuGroup for Enterprise Risk Management and NeuGroup for Internal Audit Executives, members interested in harnessing the power of generative artificial intelligence tools discussed use cases as well as potential data security risks posed by AI. Several member companies have contracted with OpenAI—creator of ChatGPT—or Microsoft to set up in-house, large language models (LLMs) while others are considering the move.Extra…
Justin Jones
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Cash & Working CapitalFP&A
August 3, 2023

Boosting Agility by Increasing Speed in Budgeting and Planning

Balancing act: FP&A must balance a faster budget cycle with business unit accountability and effective targets. Agility is about keeping up with and adjusting to the rapid pace of change in market and business conditions. This flexibility often runs counter to FP&A’s deliberate, typically granular, budget-setting process. At a recent session on agility in annual planning, members of NeuGroup for Heads of FP&A discussed how to balance the need for speed with setting effective performance targets and ensuring business unit-level accountability. Keeping…
Justin Jones
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BankingTreasury Management
July 27, 2023

Gauging Strength and Progress: Treasury Performance Metrics

Regular monitoring and analysis of metrics can help identify areas of strength and weakness, and ensure efficiency. Treasury performance metrics are crucial for corporations as they provide a framework for assessing the efficiency and effectiveness of their treasury operations. They serve as a window into how well the treasury team is functioning in a variety of areas, from cash management to payments to foreign exchange. At a recent meeting of NeuGroup for Mid-Cap Treasurers, one member gave an updated presentation on…
Justin Jones
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Accounting & DisclosureCryptoTax
July 27, 2023

Clearing the Crypto Fog: Experts Offer Clarity on Tax Questions

TaxBit joined NeuGroup’s digital assets peer group to make sense of crypto tax and accounting issues. A revised cryptocurrency bill proposed by US Sens. Cynthia Lummis and Kirsten Gillibrand last week would provide much-needed clarity on issues including definitions for stablecoins, decentralized finance and—crucially—brokers. The bill joins proposals from the IRS, FASB and the Financial Stability Board, and yet-to-be-implemented standards from the Bank for International Settlements. However, at last month’s meeting of NeuGroup for Digital Assets, members shared that, despite a great deal of proposed crypto regulation, a lack…
Justin Jones
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Talking ShopTax
July 27, 2023

Talking Shop: Tax Withholding Methods for Restricted Stock Units

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]. Context: Restricted stock units (RSUs) are a form of equity-based incentive compensation awarded to employees. They allow corporates to delay dilution caused by issuing stock until a vesting period is complete, often linked to the employee’s performance or their time at the company. Like with other forms of compensation, RSUs require the employer…
Justin Jones
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Cash & Working CapitalESG
July 19, 2023

Walmart Spurs Suppliers To Cut Carbon With Special Finance Terms

The retailer’s Sustainable SCF program via HSBC helps suppliers access capital and reduce its Scope 3 emissions. The toughest nut to crack for many corporates committed to reducing their carbon footprint is so-called Scope 3 emissions generated by their suppliers. To address the challenge and encourage its suppliers to cut carbon, NeuGroup member Walmart established a Sustainable Supply Chain Finance (SCF) program with HSBC through which companies can access more favorable conditions than available in traditional SCF offerings. To qualify,…
Justin Jones
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CryptoTechnologyThe NeuGroup Insights Interview
July 19, 2023

Airbnb Treasurer Brian Moore’s Healthy Skepticism About Crypto

A Strategic Finance Lab podcast on hedging, crypto risk, using revolving credit facilities and keeping duration short. Healthy skepticism and sharp critical thinking are governing principles for Airbnb treasurer Brian Moore. In this episode of NeuGroup’s Strategic Finance Lab Podcast, available on Apple or Spotify, he explains how a critical—but not negative—approach provided the framework for deciding whether Airbnb should start accepting cryptocurrency from guests who use its booking platform. The decision, for now, not to accept crypto like bitcoin…
Justin Jones
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Risk ManagementTalking Shop
July 19, 2023

Talking Shop: Who Owns Global Workers’ Comp Insurance?

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]. Context: Oversight of insurance—policies for directors and officers, property, cybersecurity, product liability and other risks—is among the responsibilities of many finance organizations in the NeuGroup Network. As for workers’ compensation coverage, one treasurer and NeuGroup member responsible for insurance at his current and former employer said, “my experience is that the department which…
Justin Jones
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BankingRisk Management
July 13, 2023

Digging Deeper: Finding New Metrics for Counterparty Credit Risk

Treasurers are adding new ways to measure the credit risk posed by their banks, new NeuGroup Peer Research shows. The nearly overnight demise of Silicon Valley Bank jolted many corporate treasurers into taking a hard look at what metrics to include when assessing banks’ creditworthiness. New NeuGroup Peer Research shows many treasury teams are now going beyond the obvious to evaluate their counterparty credit risk. Missing the signs. The urgency of this review and retooling is fueled in part by the realization, in…
Justin Jones
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BankingCrypto
July 13, 2023

Own Your Own Key: Cutting Out the Crypto Custody Middleman

Why one member set up cryptocurrency self-custody with Fireblocks instead of using a custodian. When El Salvador officially recognized bitcoin as legal tender in 2021, one NeuGroup member company that does business in the country had to act quickly to figure out how to pay or be paid via bitcoin. “If someone wants to pay in bitcoin, we couldn’t say no,” the member said at a recent meeting of NeuGroup for Digital Assets sponsored by Fireblocks. So the treasury team started a focus group to…
Justin Jones
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