Forty-seven percent of organizations’ cash and short-term allocation are maintained in bank deposits, according to the 2023 AFP Liquidity Survey, underwritten by Invesco. This figure is down 8 percentage points from 2022 and is the lowest recorded in four years.
After a private equity firm acquired a professional services company, a VP of FP&A came on to overhaul the monthly reporting for the new management and owners. The VP was tasked with bolstering the technical ability to get the reporting out and the challenge of designing reports that meet the different needs of various stakeholders.
USD LIBOR, the floating rate benchmark representing the rate at which banks borrow and lend to each other in the Eurodollar markets, will cease being published after June 30, 2023. While a rate, “Synthetic LIBOR,” will still be published by LIBOR’s administrator and will appear on a Reuters Screen, it will not “be representative” of the underlying markets.
With institutional money market yields now greater than 5% in several instances, corporate cash managers may need to reassess their short-term investment strategies. Our current yield environment is significantly higher than the prevailing rates observed in recent years. Indeed historically, short-end rates have never climbed so far so fast.
At the NYU Stern Center for Sustainable Business (CSB), we believe companies that embed sustainability into their corporate strategy and decision-making processes will deliver positive social impact and higher business value as seen through revenue growth, increased profitability and higher valuations.
How can treasury professionals stand out to recruiters? What career opportunities are there for treasury professionals outside of standard nine-to-five roles? And how can treasury advocate for its value?
The career benefits of networking are numerous, including gaining more exposure to career opportunities and learning from peers with similar interests. How can treasury professionals expand and maintain their network?
There are many benefits to building a strong personal brand, including expanding your network and gaining more exposure to career opportunities. What can treasury professionals do to build their personal brand?
A mentor can have an incredibly positive influence on your career by providing feedback and encouragement and helping you identify and achieve career goals. But how do you find a mentor, particularly if you’re in treasury?
An AFP member explains how a siloed work culture and time-consuming annual budget process created a rift between finance and the business at his company, and how creating a culture of forecasting promoted collaboration.
Many of the skills that make FP&A a strategic partner to the business lead well into the skills that make the CFO a trusted advisor. It’s no surprise then that FP&A has become a career stop for many on the path to CFO. At an AFP FP&A roundtable, one CFO shared his story of how he went from working almost exclusively in FP&A to becoming a CFO.
Nikita M. Miller, FPAC, has kept an FP&A lens on her work since her first job, before FP&A was even in her job title. Her interest in looking at the business as a whole ultimately led to her current role as Director of Facilities plus FP&A at The Kresge Foundation in Detroit.
Focusing only on the technical aspects of change within an organization can result in a new system that operates precisely the way it should — and is still a failure. Successful change management requires that we consider the human factor, engaging stakeholders as they move through the various stages of adoption.
For corporate practitioners dealing with money movement, it would have been hard to miss news of the pending launch of FedNow. The Federal Reserve has been working on this instant payment offering since 2019. FedNow is the first major new payment capability delivered by the Fed in more than four decades. As of this writing, FedNow is slated for delivery in July 2023.
When Mahmood Radhi, CTP, graduated from college, he headed into the back office of the treasury department of The Arab Investment Company. “Being in such an entry-level position enabled me to learn the whole cycle of treasury’s deal processing, as well as its relevant stockholders, both internal and external,” he said.
AFP’s Himashi Soriano shares key takeaways from the first AFP Asia-Pacific Treasury Advisory Council meeting of 2023. The topic at the top of treasury professionals’ minds? Managing liquidity and risk during an uncertain geopolitical and economic climate.
In 1975, 83% of the market value of S&P 500 companies was composed of tangible assets such as PPE (property, plant and equipment), inventory, cash, land or stuff you could touch. By 2020, that was down to 10%. The intangibles include goodwill, brand equity, licensing, customer lists, R&D, and intellectual capital assets such as patents, trademarks, copyrights, preference rights and data capabilities. They also include the value of human capital.
Drawing on both his accounting background and finance experience, Pankaj Kabra, Senior Vice President of Finance for Traveloka and AFP Asia-Pacific FP&A Advisory Council member, has been an active business partner for over a decade. Pankaj discusses the essential skills for FP&A, how to obtain those skills and how working in FP&A prepares you for a number of different careers.
USD LIBOR, a floating rate benchmark, is being phased out. The original December 31, 2021 deadline was extended to June 30, 2023, as regulators were concerned with the lack of progress in amending LIBOR-based instruments. Despite that extension, regulators determined that a hard cut-off of LIBOR’s publication after June 30 could still have negative consequences for the financial markets. The solution … Synthetic LIBOR!
As reported by Bloomberg, Credit Suisse “never really learned its lesson from the global financial crisis” of 2008. The effects of the crisis stirred by the missteps of this 166-year-old institution are still being calculated, but it is a fair bet that they will be felt around the world, including the Middle East and Africa (MEA) region. For a frontline perspective on how this, plus the collapse of Silicon Valley Bank and Signature Bank, is affecting the region, we spoke with members of AFP’s MEA Treasury Advisory Council.
Finance and treasury as a profession was the last thing on Isha Goel’s mind. As part of her MBA program, they were required to complete a two-month internship, which she did in the finance department of Apollo International Limited. But her interest was in International Business.
Five years ago, after 16 years in banking, Jessie Toh made the switch to buy-side treasury. As the Global Treasurer for Coda Payments, a FinTech company headquartered in Singapore, she and her team manage the company’s FX, cash, banking relationships and credit.
Preparing for an interview can go a long way toward making a good impression on an interviewer. We review seven things to do before your next interview, including questions to help prepare you for an interview.
Interviewing is an important step for candidates and hiring managers to find the right match. When done well, an interview is a two-way conversation where both parties can share what they’re looking for and what they can deliver.
Sixty-five percent of respondents report that their organizations were victims of attempted or actual payments fraud activity in 2022, according to the 2023 AFP Payments Fraud and Control Survey, underwritten by J.P. Morgan.
Corporate finance interviews include business case or word problem questions to assess candidates' analytical thinking and grasp of business strategy.
In 2017, Alex Mbuthia Karuri, FPAC, attended a finance town hall with Smollan’s Global CFO, where he heard an idea that would change his career trajectory: “As finance, we need to start focusing on how we can add value and transform into business partners.” Alex was inspired. His confidence bolstered, he began the journey to become a business partner.
When leadership changes prompted a global IT company to rethink its business review process, finance helped transform the process, implementing a new framework to simplify reporting and better communicate the main message.
A career path is the series of jobs or roles you have as you progress toward your ultimate career goal. It’s also about the skills and education you acquire to help you succeed in your chosen career.
After the company had grown through a series of major acquisitions, Comcast Capital Corporation had to navigate cash and liquidity management structures that were complex and fragmented. To create shared liquidity and access cash in a more efficient manner, the treasury team implemented an in-house bank structure.
There have been many initiatives targeting trade finance automation over the last 20 years, yet full digitalization of the core trade finance techniques (L/Cs and documentary collections) seems some way off.
It was just mid-March when GPT4 blew us away with its applications and advances. Bard is moving quickly on its heels, and DeepMind is not far behind. The obvious outgrowth is that artificial intelligence (AI) is changing the way companies operate in many sectors, but AI needs a solid data backbone for AI to perform its magic.
David Oh, CTP, shares his journey into treasury and his role in integrating acquired companies into the group banking infrastructure on AFP Conversations.
Agility has become essential as businesses face increasing complexity and dynamics. Learn how organizations need to be responsive, flexible, and resilient to adapt to environmental changes.
The Head of FP&A revives and strengthens the influence of the FP&A function at an air navigation services company through proactive measures and improved financial acumen.
"Green investing" stimulates investments in climate-friendly products and low-emission production.
Integrating ESG into enterprise risk management programs is gaining importance for organizations and regulatory compliance.
Middle East and Africa treasury professionals discuss the financial uncertainty impacting their region.
Digital payments gain popularity due to faster processing and improved security measures. Privacy and security concerns are alleviated.
Reda Shousha, a finance professional in the Middle East and Africa, shares his career change story.