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Treasury Management

Libor SOFRTreasury Management
June 25, 2020

Transition to SOFR Pushing Ahead Despite Pandemic

The pandemic and its aftermath forced bank treasurers to move the Libor-to-SOFR transition to the back burner; but make no mistake, it is still very much still on the stove.With apologies to the real estate industry, there were three critical issues that mattered to bank treasurers before the pandemic: 1) Libor to SOFR transition, 2) Libor to SOFR transition and 3) Libor to SOFR transition. But now, given COVID-19’s damaging impact on world economies, banks have been presented with new…
Ted Howard
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Cash & Working CapitalRisk ManagementTreasury Management
June 25, 2020

March Madness: Searching for Answers on Cash Flow and Credit

Data from Clearwater underscores the concerns of treasury investment managers reducing risk during the pandemic. If you needed any more proof that the pandemic has made treasury investment managers even more attuned to the risks in their portfolios, check out the table below from Clearwater Analytics, which sponsored a NeuGroup meeting this week on market trends and improving balance sheet management.  Cash flow and credit. It may not be surprising, but relative to other searches, the sheer number of views in…
Ted Howard
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Senior ExecutiveTreasury Management
June 23, 2020

Juneteenth and Beyond: NeuGroup Member Companies Take Action on Racial Justice

Treasurers at major retailers discuss what’s been done so far and what lies ahead. Calls for major societal change in the wake of the killing of George Floyd have sparked many corporations, including NeuGroup member companies, to take a range of actions in support of change and racial justice. For some, those actions included the observation of Juneteenth, which commemorates the end of slavery in the US. At a NeuGroup virtual meeting for retailers last Friday on changing regulation and business norms…
Antony Michels
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Accounting & DisclosureComplianceCOVID-19Treasury Management
June 4, 2020

Smooth Sailing: One Investment Manager’s Painless Adoption of CECL

Taking a qualitative approach and doing no discounted cash flow calculations produced a calm CECL debut for at least one investment manager.At a recent NeuGroup meeting, the only investment manager whose company adopted the new accounting standard for estimating credit losses in the first quarter described a relatively painless process, giving comfort to some of his peers. The meeting, sponsored by BlackRock, included a presentation by Aladdin on FASB’s current expected credit losses (CECL) methodology. Aladdin offers risk management software…
Ted Howard
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Cash & Working CapitalRegionalRisk ManagementTreasury Management
June 2, 2020

Founder’s KTAs from NeuGroup for European Treasury Peer Group 2020 H1 Meeting

By Joseph Neu The European Treasury Peer Group 2020 H1 meeting took place last week, sponsored by HSBC. Here are some takeaways that I wanted to share: COVID-19 validates regional treasury centers. HSBC said the case for regional treasury centers has been further validated by the pandemic. In comments on how clients have shown resilience and are preparing for markets to reopen, the bank noted the importance of real-time global exposure information, including a centralized liquidity and risk management framework; but also critical…
Ted Howard
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Capital MarketsTreasury Management
May 28, 2020

How Corporates Tapping Capital Markets Use Minority and Diversity Firms

NeuGroup members discuss benefits, challenges and process as treasury promotes diversity and inclusion.  Many treasury teams at multinational corporations strive to include firms owned by women, people of color and disabled veterans when selling debt, buying back stock or issuing commercial paper. At a recent NeuGroup meeting focusing on capital markets, members shared their insights on the process of including minority and diversity firms in various transactions.Formalize the process. The member who kicked off the discussion described her company’s path…
Ted Howard
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TechnologyTreasury Management
May 19, 2020

Lessons Learned From a Major Treasury Integration and Enhancement

Consultants and lots of testing may pay off for corporates picking a single TMS following an acquistion.  The merger of two large technology companies resulted in a highly ambitious integration and upgrade of numerous treasury functions and systems, and provided lessons for one NeuGroup member about setting realistic goals and the value of rigorous testing. TMS timing. The member, who worked through many long days during the process, walked peers through the decision-making and implementation steps. The acquired company went live on…
Antony Michels
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TechnologyTreasury Management
May 14, 2020

Treasurers Are Making the Most of Zoom and Microsoft Teams

The buzz: Zoom’s security improves, Teams may help IT governance, and more access to Bloomberg. Virtual meetings have been a godsend to corporate treasury executives sheltering in place, despite occasional glitches. In a recent Zoom meeting, NeuGroup members exchanged valuable tips about making their virtual interactions more efficient and effective. Kudos for Teams. A few participants using Microsoft Teams while working from home heaped praise on the solution. Responding to requests to elaborate, one member called it “absolutely superb for team working,”…
Antony Michels
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Cyber riskRisk ManagementTreasury Management
May 7, 2020

Cyberattacks: Post-Pandemic May Be Worse Than the Lockdown

Best practices pre-pandemic have become even more important as the economy reopens. A top treasury concern for years, cyberattacks ramped up following the sudden transition to the work-from-home regimen prompted by the pandemic. They’ll likely ramp up even further when the economy begins opening up.  That was among the takeaways from a session on cybersecurity at a recent virtual NeuGroup meeting headed by Jenny Menna, deputy chief information security officer at U.S. Bank, and Chris Moschovitis, CEO of technology consultancy tmg-emedia.…
Ted Howard
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