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AFP Participation in International Roundtable Provides Members with a Voice on a Global Stage
The Association for Financial Professionals’ (AFP) director of Treasury and Payments Services, Tom Hunt, recently participated in the Financial Stability Board’s (FSB) Virtual Roundtable on Libor Transition and Benchmark Reforms. In attendance were 58 finance executives representing approximately 15 countries and the European Union. The president of the FSB, John Williams, CEO of the NY Fed, and Andrew Bailey, governor, Bank of England, ran the roundtable. The AFP was the largest U.S. treasury association in attendance.

02/23/2021

Scenario Planning with Steve Player
Scenario planning addresses the key question: What do we do? It enables you to respond to changes that cause your existing plans and forecast to be radically revised in order to deal with a new and different operating environment requiring rapid response. Examples of this could include events that radically change the demand for services, such as the COVID-19 pandemic, or the emergence of new business models that create disruption such as Airbnb, Lyft, or Uber.

02/22/2021

FP&A: Sustainability Practices and Talent Development
Last year, AFP announced the formation of its APAC FP&A Advisory Council (FPAAC). The networking and advisory group meets three to four times a year to discuss best practices, common challenges and innovative initiatives in the Asia-Pacific region. We’ll be profiling individual members of the council every month. This month we spoke with Keyur Shah, senior finance director, FP&A COE, APAC, Johnson & Johnson.

02/22/2021

Treasury Pros Must Get Data-Proficient to Remain Relevant, Competitive
Treasury professionals have been told for years that the keys to career success are to know the business, to embrace technology, and to master so-called soft, or people, skills. But an entire new set of skills has been added to the must-have list, all centered on data management, data analytics and software automation.

02/16/2021

ARRC Issues SOFR Recommendations for Intercompany Loans
In its ongoing effort to facilitate the transition to a new benchmark for floating-rate financial transactions, the Alternative Reference Rates committee (ARRC) recently recommended a method for using the secured overnight funding rate (SOFR) for intercompany loans. Treasury executives should discuss the language and how to address the issue most effectively with colleagues across their companies’ finance departments, if they haven’t already.

02/16/2021

Nacha Mulls Same-Day ACH Limit Increases to $1 Million and Above
After receiving enthusiastic responses to last year's same-day ACH limit increase, the National Automated Clearing House Association (Nacha) has proposed layering in major limit increases over the next three years that would enable corporates to speed up a wide variety of debits and credits.

02/08/2021

Negotiating Bank Fees: Two Strategies Share Upfront Approach
“Do not hesitate to ask your banks for information about their fees — and even ways to lower them. They’ll respect you for it.” This was the advice imparted by experts leading an AFP 2020 Virtual Experience session addressing strategies to ensure fees are competitive and how to reduce them.

02/02/2021

Even with the Extension, Corporates Struggle with Libor Transition
Support for Libor was set to end after 2021, but in November, the benchmark’s administrator proposed an 18-month extension to complete the array of complexities to transition legacy transactions. While the extension will give market participants more time to transition legacy transactions to a replacement reference rate, regulators still want new loans to reference a replacement starting in 2021, requiring significant business and operational issues to be addressed while many corporates are still in the early stages of the transition.

02/01/2021

Six Ways Scenario Planning Stretches Organizational Vision
FP&A’s response to a world of changing information and uncertainty is to maintain multiple points of view. We need to incorporate intelligence quickly (rapid reforecasting), remain focused on long-term strategy, and stretch the organizational mindset for the possibility of varied future outcomes, aka scenario planning.

02/01/2021

The Future of Finance is Tied to 3 Core Themes
After the AFP FinNext Virtual Conference Planning Task Force met in January to select the sessions, a few of the members sat back to reflect on the larger trends evident in the multitudes of proposals. What they found were three core themes that reinforced the need for finance to hold multiple points of view simultaneously.

01/27/2021

FPAC Now Stands for FP&A Certified
As of January 25, the acronym FPAC will officially be used to denote the Association for Financial Professional’s Corporate Financial Planning and Analysis Professional credential.

01/25/2021

AFP Announces New Members to the North American FP&A Advisory Council for 2021
We are pleased to announce the members of AFP’s 2021 Financial Planning and Analysis (FP&A) Advisory Council. These members represent a broad cross section of industries, size, and ownership structure, and are selected based on their contributions to the FP&A practice, expertise in specific areas, and desire to contribute to the advancement of their peers.

01/25/2021

Financial Modeling Best Practices
Our last article discussed model governance and risk management, the background to successful development. If we think about building a model as a product development process, we can apply best practices from decades of research and the current trends.

01/19/2021

Building a career in digital finance post COVID-19
Writing about career prospects for 2020 seems out of place at a time when professionals are worried about their jobs as much as companies are distressed about staying in business. But as history has shown us – there is a cycle to everything – and this period of relentless challenges will eventually come to an end, and professionals and businesses will begin anew.

01/19/2021

Surviving the pandemic aftermath: an FP&A perspective
Unlike a typical financial downturn, the impact of COVID-19 pandemic has been far more difficult to predict. In this environment, with traditional business models and old market assumptions no longer working, companies are turning to financial planning and analysis (FP&A) professionals to help them navigate the turbulent waters and prepare for the aftermath. But are they ready?

01/19/2021

Harnessing the Value of ISO 20022
With the ISO 20022 standard now seeing widespread adoption, financial messaging has never been more relevant in cross-border transactions.

01/06/2021

Introducing AFP’s New Board Members
AFP is proud to introduce the new Chairman and Vice Chairmen of its Board of Directors, as well as some new members.

01/06/2021

Insurance Roundtable: Treasurers Weather the Pandemic Crisis
During the AFP 2020 Insurance Industry Roundtable, sponsored by Fifth Third Bank, treasury professionals discussed their response plans to the COVID-19 pandemic.

01/05/2021

Investing in Resiliency: Q&A with a Finance Thought Leader
Mat McBride, finance leader for Microsoft’s Cloud and Gross Margin, recently sat down with us for a virtual conversation. We asked him about the challenges currently faced by CFOs, CPOs, and other financial decision makers, the concerns of customers and investors, and building resiliency.

01/05/2021

Ameribor: A Look at the Other Libor Alternative
While SOFR is the chosen successor to Libor in the United States, other rates have emerged as potential alternatives. The latest AFP Treasury in Practice Guide, underwritten by Kyriba, takes a look at Ameribor.

01/05/2021

The role of financial models; an interview with Rob Trippe
Rob Trippe, M&A, corporate finance advisor and analyst for Corporate Finance Consulting & Advisory, discusses the role that models play and the challenges that they present to FP&A departments.

01/05/2021

FP&A: Ever-Evolving with New Technology and Challenges
Peggy Ang, FP&A Leader for APAC for National Instruments and a member of AFP's APAC FP&A Advisory Council, discusses the ways in which finance has changed as her career has progressed.

01/05/2021

Inside the FSB’s Cross-Border Payments Roadmap
AFP's new Payments Guide features an in-depth look at a new plan by the G20 and the Financial Stability Board (FSB) to strengthen and modernize the cross-border payments infrastructure.

01/04/2021

The CTP Opens Doors for APAC Treasury Professionals
During a recent webinar, treasury practitioners based in the Asia-Pacific (APAC) region discussed the value of earning the Certified Treasury Professional (CTP) designation.

12/21/2020

Keys to Bridging the Talent Gap in FP&A
We are already in the midst of a talent war. Nowhere is this more evident than in the role of financial planning and analysis (FP&A).

12/11/2020

Global FP&A: Unique Challenges Arise in All Regions
Martha Sierra of the British Council and AFP's APAC FP&A Advisory Council has handled FP&A duties in multiple countries, taking on unique challenges with each new role.

12/11/2020

Survey: Forecasting Services to Remain in Demand in 2021
The 2020 AFP FP&A Survey, underwritten by Workday, Inc., found that demand for forecasting services increased in 2020 and is expected to remain at an elevated level.

12/11/2020

Technology and Multiple Points of View
The 2020 FP&A survey examines FP&A’s abilities by focusing on the quality and accessibility of the data, and the tools available to examine and find meaning in that data. Here are a few highlights.

12/10/2020

Model Governance and Model Risk Management
Model governance is a set of activities, policies and procedures which formalize model and model risk management activities for implementation.

12/01/2020

Regulators Signal Libor’s End in the U.S.
The Federal Reserve, the FDIC and OCC issued a joint statement urging banks to cease entering into new contracts that use U.S. dollar Libor as a reference rate.

12/01/2020

Survey: Companies Embrace Electronic B2B Payments
U.S. businesses finally appear ready to shed paper checks and embrace digital payments for business-to-business (B2B) transactions, according to the 2020 AFP Survey, sponsored by Truist.

11/17/2020

How Treasury Interacts with Third Parties
The 2020 AFP Asia-Pacific Treasury Management Handbook, sponsored by Kyriba, explores the ways in which treasury interacts with a range of third-party organizations, within a regulatory framework set by a number of legislators and regulators.

11/16/2020

Finance Holds Multiple Points of View
Every year, FP&A goes through the exercise of preparing a plan for the upcoming year. And then it all changes. What is a planning function to do in the wake of this? Be ready for everything.

11/16/2020

Making the Move From Engineering to FP&A
Kwaku Agyemang-Duah, Senior Manager of FP&A at AirtelTigo Ghana, tells the story of his transition from engineering to FP&A.

11/13/2020

Digital Adoption Surges in Remote Working Environment
In order to maintain business continuity in the remote working environment, treasury departments have been forced to rapidly move towards digitalization.

11/10/2020

AFP Introduces APAC FP&A Advisory Council
To bolster its expansion into the Asia-Pacific (APAC) region and support the financial planning and analysis (FP&A) profession around the world, AFP has formed the APAC FP&A Advisory Council (FPAAC).

11/05/2020

Remote Working Challenges for FP&A
At the AFP 2020 FP&A Happy Hour, sponsored by CCH Tagetik, Planful and Vena, the conversation quickly turned how finance has changed in a remote working environment.

11/03/2020

AFP, Beacon Partner on CTP & FP&A Prep Courses
AFP and Beacon FinTrain have joined forces to offer special training courses for treasury and finance professionals throughout the Middle East.

11/02/2020

Daniel Pink: Viewing Time as a Science, Not an Art
At AFP 2020, keynote speaker Daniel Pink, New York Times bestselling author, provided attendees with a look at the importance of timing in their professional and personal lives.

11/02/2020

From Cost to Service Center: Becoming a Cherished Advisor
AFP 2020 FP&A keynote speaker Amy Vetter outlined how to prepare ourselves and our department to deliver finance expertise that is insightful, timely and well presented.

10/28/2020

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