Cash & Working CapitalTechnologyTreasury Management
November 10, 2020

Taking a Hard Look at Structure, Resources and Where to Rationalize

A cash manager with staff across the globe considers how technology may reshape and resize his team.  Strategically important goals are the new organizational focus for one NeuGroup member who leads a cash management team of nearly 50 people at a sprawling global company that has a new CEO. At a recent meeting, the member described the structure and responsibilities of his staff today and how rationalization and an increased focus on technology may change his use of resources in the future.…
ESGRegionalTreasury Management
November 10, 2020

The Benefits for Tech of Having More Than One Headquarters

Key takeaways from the Tech20 Treasurers’ Peer Group 20th Annual Meeting, sponsored by MUFG. By Joseph NeuTreasury at multiple headquarters. Technology companies, whether megacaps or midsized, are experimenting with multiple headquarters which will resume as work from home phases out. Treasury will be represented across them, even within the US. Cost and competition for talent are drivers, but also diversity; it can be more challenging to get people of color to move to expensive and majority-white communities where US tech firms…
COVID-19Treasury Management
November 3, 2020

No More Offices? Corporates Debate Making Work from Home Permanent

NeuGroup members face a future where some workers may never return to office buildings. NeuGroup members have learned to adapt to working from home (WFH) during the pandemic. Some like it, some don’t. But nine months into Covid, many remain uncertain about what role actual, old-school offices will play moving forward. Several discussed their thinking at a recent meeting of the Assistant Treasurers’ Leadership Group. Two members work for companies that have announced plans to close all office buildings, although many…
COVID-19TechnologyTreasury Management
October 8, 2020

Tonic for Zoom Fatigue: Shorter Meetings—and a Day Without Them

NeuGroup Members discussed their approaches to making WFH situations more palatable.“Six hours on Zoom is like 10 hours in the office,” one treasurer of a mega-cap company said during a recent NeuGroup meeting (yes, a Zoom meeting), quantifying a feeling about the side effects of virtual meetings. Almost everyone who has been working from home for seven months knows what she means. At the same meeting, another treasurer said he is encouraging his team “not to book 30-minute calls, to…
ESGTreasury Management
October 1, 2020

Tough Love Is What You Want From a Career Sponsor

Takeaways from the latest Women in NeuGroup event, sponsored by Deutsche Bank.Women—and men—who seek sponsorship to help them advance professionally should expect the relationship—if it’s a good one—to involve some tough love. That insight was among the key takeaways from a Women in NeuGroup virtual meeting held this week. Sponsorship is not mentorship. Tough love is one way to distinguish sponsors from mentors—a difference addressed at the spring WiNG event as well. While mentors may offer you a shoulder to…
Capital MarketsCOVID-19Treasury Management
September 29, 2020

Busting Talent Silos and Reading the Signs on Hong Kong

Highlights from the Assistant Treasurers’ Group of Thirty 2020 H2 meeting sponsored by HSBC.By Joseph NeuTalent development is focused on silo busting. There are two silos in focus for AT members at the moment. The first is the diversity of hires, especially Black and Hispanic professionals along with women, into finance roles.  There is also a mandate to make this a long-term effort to build up the capacities and pool of potential candidates for corporate finance roles. The other silo…
COVID-19TaxTreasury Management
September 10, 2020

Auditors Eye Risks of Not Knowing Where Remote Workers Call Home

Employees who move to other states or countries raise tax issues, and others, for employers. Everyone knows that millions of people are still working from home (WFH). But not every employer knows exactly where every employee is working—a potential headache discussed by members of NeuGroup’s Internal Auditors’ Peer Group (IAPG) at a recent virtual meeting. “We’re super worried about it,” said one auditor about the various tax, legal and compensation issues WFH can raise for corporates.It is critical that employers…
COVID-19TechnologyTreasury Management
September 8, 2020

Post-Labor Day Rethink: Reinventing Finance Teams and Redefining the Office

How should corporate finance and treasury roles adjust to extended remote work and further delay of in-person team interaction? By Joseph Neu NeuGroup exchanges with members about team (aka labor) performance during the Covid-19-induced work from home (WFH) period have been generally positive. Productivity has been good, even up, as team members take back time lost to commuting as they give up spontaneous communication and collaborative teaching moments.Sustainability is a concern, though, as WFH requires balancing work and home priorities…
BankingTreasury Management
August 25, 2020

Waiting Game: Fed’s Update on Dividend Regs Reflects Increased Back-and-Forth With Banks

Earnings hold the key to whether a bank qualifies for “expedited consultation” with regulators. Recent clarification by the Federal Reserve about the timing of regulatory reviews of dividends paid by banks has raised a few questions and concerns for members of NeuGroup’s Bank Treasurers’ Peer Group.  Even before the guidance, banks have delayed or considered delaying their dividend declaration dates to provide more time for back-and-forth with regulators over the payout. Experience suggests that approaching the Fed with a concrete plan…
Cash & Working CapitalCOVID-19Treasury Management
August 20, 2020

Finance Teams Kept More Hands on Deck in Q2 to Navigate Rough Waters

The pandemic is taking a toll on working capital, leading to more rationing of cash, an FEI survey says. Far fewer finance teams planned on cutting headcount in the second quarter of 2020 than in the first, according to a survey released this week by Financial Executives International in collaboration with Deloitte. Meanwhile, the percentage of companies reporting a drop in working capital balances in Q2 rose by a third as the pandemic took hold. The survey of 170 of FEI’s…