8:00 – 9:15 – Registration – Welcome Coffee sponsored by
8:15 – 9:05 – Early Bird Concurrent Sessions
The yield curve at its flattest level since the Great Recession and the Fed is expected to hike rates up to four times in 2018. This session will discuss several investment strategies; asset classes that can be used to diversify a portfolio against rising rates while still preserving fixed income-like characteristics of principal protection and lower volatility.
Andrew Bail, Longfellow Investment Management
The Faster Payments evolution has been widely publicized and eagerly anticipated. Some key solutions have launched, such as Same Day ACH, Zelle, and Real-Time Payments. Many organizations continue to assess the applicability of each. With this innovation, the overarching question remains… what’s next? Will these be the final result of this exciting initiative or will they serve as catalysts to future innovation that will continue to transform the payments landscape?
Irfan Ahmad, The Clearinghouse
Eric Foust, Early Warning Services
Michael Herd, NACHA
Adam Kruis, U.S. Bank
This session will provide a thematic and disciplined framework for evaluating country/geopolitical risk from a practitioner’s point of view. Given the abundance of available sovereign data and mass media coverage on most major countries and regions, it’s often difficult for the casual observer to separate relevant issues from noise. The intent will be to teach a system to consistently evaluate these forms of risk. Included will be an overview of risk management tools such as letters of credit and credit insurance and when companies should consider; common structured finance techniques that can be used for both risk and liquidity management, and; a current analysis of country/geopolitical risk for major countries and regions of the world utilizing the approach reviewed in the preceding module.
Andy Arduini, Huntington Bank
This session will discuss the major challenges and solutions confronting distributed ledger technology, accompanied by a look at the emerging Internet of Value and enterprise business cases moving from proof of concept to production.
Jonathan Rosenoer, IBM Blockchain & Digital Currency
9:15 – 10:15 – Concurrent Sessions
This session will focus on concrete comparison of various cash management products, and important ways investment strategies can be updated to reflect the new cash management environment.
After money fund reform, corporate treasurers are faced with increasing choices in alternative investments from government money funds to bond funds to separate accounts. Investors will need to weigh various features of these investment products with their own cash management strategies and whether investment policies and cash segmentation strategies need to be re-evaluated. This session will provide an update for corporate treasurers and treasury professionals on alternatives available for managing cash.
-Government vs Prime MMFs and alternatives: discussion of the characteristics of each
-Structuring cash and building a long-term strategy: what are industry trends for building a successful investment strategy?
-Significant market developments that will further impact cash investing: Basel III, interest rates, EU reform
While these changes are happening, corporate treasurers are facing a host of other challenges impacting cash management, including low yields, bank regulations, and a shortage of supply. Staying abreast of these changes and strategically adapting are critical.
Anthony J. Carfang, Treasury Strategies, a division of Novantas
Ian Rasmussen, Fitch Ratings
Analyzing your account analyses is as important – and pesky – as ever. Statements stretch dozens, sometimes hundreds, of pages. The 2,000+ AFP codes sometimes defy comprehension. Yet this is how your company pays for banking services. Plus, overly complex or fragmented banking relationships, caused by previous acquisitions or simple neglect, result in excess costs, poor use of funds, ineffective services, fraud exposure and weak balance management. We will discuss how taking control of your account analyses statements will help you examine account structure and services for strategic improvements; understand your wallet allocation – balances, services, credit; incorporate best practices and benchmark pricing, and; enhance bank relationships by focusing on factors important to both sides, such as quality, price, and cost-effectiveness.
Cathy Gregg, Treasury Strategies, a division of Novantas
Maxine Rotigliano CTP, Fresenius Medical Care
Proper support of a firm’s business objectives can be achieved through the proactive management of a company’s global cash positioning and forecasting. Liquidity management is a core treasury function that provides knowledge for minimizing an enterprises operational risk through strategic working capital allocations. To succeed, Treasury requires insight into their functional working capital strategies through the unlocking of bank balances and the mobilization of intercompany cash. This presentation will explore how leveraging Oracle Cloud provides multi-dimensional analysis that gives deep insight into Treasury’s various liquidity strategies around cash conversion, funding requirements, and the management of their strategic investments. Deploying Oracle Cloud as a Treasury work center allows an organization to manage established bank counterparties and their financial markets relationships, to fine tune a global liquidity program.
Logan Wacker, Elire
The role of treasurer was once well-defined and finite, often a voice of caution in even the most buccaneering corporations. But as the wider business world copes with the shock of rapid change, treasury must itself adapt and become more outward-looking and willing to take on manageable risk. This discussion looks at the changing strategic role of the treasurer, the need to embrace change in management processes and systems, and how the treasurer must adapt personally and professionally to stay ahead.
Matthew Harlan, Netcracker Technology
Rudi Heinisch, GCP Applied Technologies
Maria Logiopoulou, Bank of America Merrill Lynch
Steven Reed, Netcracker Technolody
Unfortunately, fraud in payments continues to be a very real and concerning problem. Paper checks are still a huge contributor to fraud but cybercriminals also lurk in the electronic alleyways, effectively plying their trade of separating businesses from their money. All methods of payments – ACH, wire, cards – can be compromised. Some methods of fraud can be creative, but most just take advantage of lack of oversight and gaps in processes. Join the discussion and hear the latest industry trends and statistics, methods of fraud being perpetrated (email scams, data breaches, account takeover, etc), best practices, and how bankers and practitioners can work together to combat payment fraud.
Lucy Suarez CTP, ACI Worldwide
Many organizations have improved their payables processes, but is there more opportunity and time to re-examine? Automation is typically the goal with eyes on saving (or earning) more money. Payment options such as ACH and card are widely utilized, while additional digital payment options are expanding for the first time in decades. The migration of payments to faster and more efficient methods is an ongoing transformation exercise that each organization must continue to explore.
Tonya Adams, Boston Properties
Adam Kruis, U.S. Bank
Taunya Stokes, Boston Properties
Visa, MasterCard, and Discover interchange rates are complex, confusing, and constantly changing. Combined with the recent debit card regulations and network actions, understanding card payments becomes very difficult and cumbersome. What are the long-term implications and strategies for companies in effectively managing their electronic payment acceptance costs as customers increasingly demand multiple methods to remit electronic payments?
This session will outline a revenue control framework to attendees so they can understand and implement a strategy to reduce the cost of credit/debit card payments.
Anand Goel, Optimized Payments Consulting
Roberto Perli, Cornerstone Macro
10:15 – 10:30 – Refreshment Break
10:30 – 11:45 – Concurrent Sessions
This session is geared towards corporate cash managers, and other professionals dealing with money markets. Money fund expert Peter Crane (with potentially a money fund manager or corporate cash manager to be named later) will review past problems in money market investments, the current state of yields, asset flows and cash options, and the outlook for money fund products and investments going forward. Attendees will learn how to maximize their yield and avoid potential risks in a rising rate environment, whether prime money funds are still (or again) a valid investment alternative for cash, and what higher-yielding (and higher risk) products and strategies investors are exploring in 2018.
Peter Crane, Crane Data
This session will provide an overview of the tax function’s intersection with corporate treasury. Issues to be discussed include: Tax issues occurring in domestic and cross-border management and transfers of funds; Relevant tax terminology and concepts; Examples of common scenarios and their outcomes, and; Current tax developments impacting treasury management.
Charles R. Hills CPA, L&V Partners
Janice Leahy-Daniels, L&V Partners
Interest rate hedging has a number of new twists. Companies are revisiting interest rate risk for the first time post-crisis after a more sustained climate of Fed rate hikes. LIBOR replacement is being solidified, impacting loans and hedges alike. New opportunities from changes in accounting standards have also played a role in the economic financial risk management strategies being employed. This session will focus on how companies have been navigating the current landscape of interest rate hedging, and the key factors to consider now.
Geoff Lewis, Bright Horizons Family Solutions
Amanda Breslin CFA, CTP, Chatham Financial
Given that many consider payment operations a 24×7 job, these practitioners provide a roadmap of both day to day and longer-term strategies. Optimizing payment operations to function and succeed in the current day environment requires constant management of risk policies. Managing fraud mitigation, formatting, and enhancing straight-through payments are a priority. Mr. Bernstein and Mr. D’Amadeo will share how they have optimized receivable payment and remittance, Payable conversion from check and wire to ACH, and the tools they have leveraged in order to re-order the playing field when managing corporate and consumer payments. In some cases, these parties have achieved nearly 100% straight-through processing in their operations. They will share the tools and results both from a bank-and-client facing process.
Frank D’Amedeo, ConEd
Steven Bernstein, J.P. Morgan
This session will discuss the goals, challenges, and implementation of creating a best practice FX global balance sheet and intercompany netting system. Included in the discussion will be case studies, object lessons, and current events.
Rob Richards, GPS Capital Markets, Inc.
Tyler Thurgood, GPS Capital Markets, Inc.
Today’s treasury of Risk Management, Cash & Liquidity Management, Corporate Financing and strong governance and controls has been the norm for the last 20-30 years. Of course with every 5 years in passing there’s a new focus which impacts corporate treasury. Today’s focus points for treasury, risk and finance are regulatory changes such as BEPS and IFRS9, geo-political risks, cybercrime and exponential technology. But what’s going to impact corporate treasury tomorrow and beyond ? And how will this impact materialize?
In collaboration with the AFP, Zanders has created a whitepaper on the potential impact of exponential technology on corporate treasury ant the evolution towards a next treasury maturity stage. In our presentation we will share our view on the future of treasury especially in the context of mega trends, such as big data & analytics, artificial intelligence, blockchain and APIs, and discuss if and how transformed & strategic treasuries will be impacted as these well publicized, global developments move from the drawing board to the mainstream corporate world.
Keith Bergman, Zanders Treasury & Finance Solutions
Laurens J.A. Tijdhof, Zanders Treasury & Finance Solutions
Navigating your career is more important than ever as the pace of marketplace changes requires new skills, stronger networks and an open mind. Our panel discussion will focus on the perspectives of a bank provider (Lynne Marlor, Managing Director, BNY Mellon Treasury Services); a former banker and current executive recruiter to the banking community (Nicole Meyer, owner of The Meyer Partnership and former Managing Director of Citibank); and a corporate practitioner. Each will discuss their career progression and career advancement with insights as to what worked, what didn’t work, and how they overcame obstacles.
Lynne Marlor, BNY Mellon
Nicole Meyer, The Meyer Partnership
Patricia Mullen, Cambridge Trust Company
12:00 – 2:00 – Luncheon
|sponsored by||Keynote: Adm. James Stavridis USN (Ret.)|
2:00 – 3:15 – Concurrent Sessions
After years of negative ramifications from the liquidity crisis, the economy and yield environment are finally recovering. Treasury investors have endured historically low yields, new money fund regulations and the implementation of Basel III. This session will touch on those subjects and offer practical strategies for investors to consider in this market.
Kirk Black CTP CPA, BNY Mellon
The number of companies planning to issue an RFP for treasury services or replace a credit bank are at an all-time high. What are the causes of this churn? Has the glue to the relationship become technology and service instead of credit? Are your existing banks still partners, or are they becoming interchangeable vendors?
The selection and management of bank relationships are the keys to reducing both direct bank fees as well as the time and staffing levels required of your treasury, cash application, and accounts payable groups. Price, technology, quality of service, and the ease of doing business are the cornerstones for controlling these expenses.
In this session, we will review data-driven steps that participants can take to ensure that they find and maintain the “right” bank relationship(s) in a world of faster payments.
James G. Brunnquell CTP, Phoenix-Hecht
Accept a payment from your customer’s car, no swipe needed. Scan your eye instead of entering a PIN. Use Big Data to gain insights from your cash flows. Rapidly advancing technology is altering the way we do business, enabling us to increase convenience and relevance. Will it also make us smarter? From the Internet of Things to biometrics and more, we’ll discuss essential new technologies and how each fits into the treasury landscape.
Seth Marlowe, CTP, CPCP, AAP, Wells Fargo
Business Email Compromise (BEC) scams are exploding because of criminals’ use of social engineering, and their schemes continue to grow, evolve and target businesses of all sizes. BEC scams are often paired with wire fraud, payment diversion, and account takeovers. The increase in frequency and sophistication deployed by criminals make these scams difficult to identify, and have resulted in thousands of victims and billions of dollars in losses. Knowing how to spot a scam, coupled with continual vigilance, are crucial in thwarting attempts.
Criminals are also making inroads in Mobile Banking fraud, the newest frontier in the “Wild, Wild West” of financial fraud. The rise in mobile banking and mobile Remote Deposit Capture (mRDC) has increased the complexity of check fraud. Very few organizations and bankers know how to resolve the losses caused by double-presentments, e.g. a check being deposited via mobile device and later cashed at a check-cashing store, or other mRDC scams. Meanwhile, old-school check fraud still produces more losses than all other forms of payment fraud. Most businesses still issue checks, and check fraud is not going away.
Greg Litster, SafeChecks
Electronic payments pose one of the greatest risks of loss to a financial institution. Transfer speed, paired with high dollar and high volume transactions and the challenge to recover funds once they are transferred, leave financial institutions vulnerable to significant risk. This session will review the various risk areas that should be addressed, such as regulatory record keeping minimums, FFIEC guidance’s, associated regulations and other industry trends. This presentation brings together an industry expert and hands on experience from an advisor to create an interactive session with the audience allowing conversations of their electronic payments businesses and risk mitigating practices.
Sandy Cinelli Gobin, NEACH
Liz Grayeck, NEACH
Many top multinationals continue to use legacy, manual FX programs, which unintentionally reduces the effectiveness of their currency risk management programs.
Find out how one of world’s leading pharmaceutical companies adopted a fully automated FX program, leveraging sophisticated currency analytics and accurate, complete and timely data. By evolving away from a manual program, the company’s treasury team saw greater visibility into the company’s true exposures, enabling team members to effectively reduce costs and risk. Learn how to build a business case convincing the CFO to automate FX, how cutting-edge analytics and real-time data expands exposure visibility and what a roadmap for an automated FX environment looks like.
Andy Gage, FiREapps
Jeff Hynes, Alexion Pharmaceuticals
The days of being a purely domestic enterprise with exclusively American suppliers customers are no longer a reality for most businesses. There is significant pressure on treasury teams to align to the global reach of the entire business and progress from supporting the business to helping lead business across the glove.
In this session we will discuss the top initiatives that treasury teams are focused on to become more global, including SWIFT connectivity, FX hedging, cash pooling and forecasting, multi-lateral netting, Hybrid treasury structures, and international vs. local payments.
Tom Gavaghan, Kyriba
The presentation focuses on the history of blockchain and how it has evolved into a very useful tool through distributed ledger systems. The presentation will discuss the many applications of this technology along with the potential benefits and challenges that need to be considered. This innovative technology vastly improves how we make global payments, improves the lending and finance space, and improves the Capital Markets space by reducing or removing many post-settlement operations.
Laura Fontana, Wells Fargo
3:15 – 3:45 – Refreshment Break in Exhibit Hall
3:45 – 4:00 – New England AFP Annual Business Meeting
- Election of Officers
- Treasurer’s Report
- New Initiatives
- Introduction to Committees
New England AFP utilizes a committee structure to ensure that member interests are served. We encourage you to participate in one or more committees. If you have a particular talent, a special interest in a given subject, or if you just want to learn more, we want you to be part of charting New England AFP’s course! Participating on a committee is easy, does not take a great deal of time, and is extremely rewarding. To view the mission of each committee, please visit https://neafp.org/committees/.
Attend the Annual Business meeting during the Conference to find out how you can get involved!
4:00- 5:00 – General Session
Join J.P Morgan Commercial Bank’s Chief Control Officer, Julia Bates, and Treasury Services Sales Executive, Nancy McDonnell, for a fireside chat on best practices businesses can implement for “keeping it under control” by identifying risk, improving internal oversight, and managing regulatory compliance, all while improving the client experience. Discussion topics will include:
• Artificial intelligence (AI), RegTech and Compliance
• Due Diligence 3.0: Know Your Customers’ Customer
• Risk Assessment – Not a “One and Done”
• Effectively Communicating An Internal Controls Agenda – It’s a Two-Way Street
• Monitoring: A 24/7/365 Activity
• Keeping it Under Control While Improving the Client Experience
Julia Bates, J.P. Morgan
Nancy McDonnell, J. P. Morgan
5:15 – 6:30 – Welcome Reception in Exhibit Hall sponsored by
8:00 – 9:00 – Continental Breakfast/Exhibit Hall
9:00 – 10:15 – Concurrent Sessions
Since last year’s New England AFP annual conference a storm of attention has been at the forefront of the ESG news as the United States pulled out of the Paris Accord. Other highlights include the need for gender equality and workplace diversity. These are a few of the many actions that has brought to the forefront the need to incorporate ESG into the investment process. Many believe that by incorporating positive integration, it will lead to a competitive advantage and superior risk adjusted returns and will also improve the brand of a company such as a financial institution. The topic continues to evolve at lighten speed. The large firm names associated to this panel will create interest as the topic has moved well beyond the notion of just tree huggers.
The Panel will discuss for various industries point of view what are now the best practices as we enter the era of Impact Investing 2.0. We will touch of the United Nations 17 Sustainable Development Goals and balance with theory and the ability to implement. Some of the unique factors of this conversation will be balancing the distribution of wealth from the Baby Boomers to the Millennials and the ever increasing new evidence of research.
Lily Fayerweather, NEPC
Sarah Gelfand, Fidelity Charitable
Kathryn Hersey, Cambridge Trust Company
Michelle Knight, Ropes Wealth Advisors
Andrew Shafter, Community Capital Management
Currently there is a large incentive for companies to maintain a detailed cash forecast given tightened credit, heightened investor scrutiny, increased deal activity, increased regulatory changes, etc.; however, forecasting at many companies is limited to a high-level P&L forecast or a short-term daily treasury forecast. Improving cash forecasting is a top strategic priority. Treasury functions are increasingly being asked to support senior management in strategic decision making. It has become essential for companies to have visibility into the underlying cash “levers” which drive cash. Even with the desired cash focus, companies still struggle with cultural, process and technology issues. In order to provide an accurate global liquidity picture, it is essential to have a strong cash forecasting process in place.
This session will explore the different approaches management can take to overcome the obstacles that hinder organizations from achieving an effective cash flow forecast program and instill cash culture to improve cash generation. These approaches include tone at the top, accountability model, and standardized processes and will highlight some of the best practices and lessons learned for effective cash forecasting programs.
Lisa Bita, American Tower
Davide I. di Gennaro, PricewaterhouseCoopers LLP
Jeffrey Frankovic, PricewaterhouseCoopers LLP
The digital shift has evolved and every industry is affected. Companies can no longer afford to be stuck in processes and systems operating on technology and frameworks that were designed decades ago.
It is imperative for Treasury to be actively engaged in the organization’s digital agenda and to leverage emerging innovations for faster payments and artificial intelligence, potentially resulting in cost efficiencies across business flows.
Join this informative discussion and build your understanding of forces that are impacting our world and how these threats translate to risk. See what opportunities they may generate for your business.
Steven Kim AAP CTP, Citibank
David Guzman, Citibank
Cyber-attacks are becoming both more brazen and more common. After reading this sentence, the first thing that comes to one’s mind is how secure is my network? Believe me, you do not want to be in the list of those companies who had to apologize to their customers for lost “private” information. To combat the ongoing threat of cyberattack, SWIFT has introduced the Customer Security Programme (CSP). This Programme lays down both mandatory and advisory set of security controls that need to be followed by customers using the SWIFT network.
Mohan Murali, Axletree Solutions Inc.
This session will present the fundamental workings of virtual currencies with an emphasis on Bitcoin and the current state of the regulatory front. We will get your thinking caps energized as to how treasury professionals and bankers might approach virtual currencies and some thoughts about what the future might hold for virtual currencies and blockchain.
Bitcoins have gotten much more traction than early detractors and pundits expected and its price has risen dramatically. With that reality, what do companies and banks need to do, if anything, to prepare for their continued existence and surprising acceptance?
No one can afford to ignore what bitcoin and the blockchain promise for the ongoing avalanche of digital innovations to come, including fighting crime and combating cyber-attacks.
Ray Graber, Graber Associates
Learn about the merits and risks of the asset class including how to access the private equity market, the typical structure of private equity funds, and considerations for building a private equity portfolio.
Amanda Outerbridge, HarbourVest Partners
As the baby-boomer generation nears retirement, every workplace needs to consider its strategy for hiring, managing and motivating the right people from every generation – and that’s especially true of treasury, where experience matters but emerging technologies can call for different approaches than were used in the past.
In this session, a carefully-selected panel of experts from the treasury and finance and HR sectors will examine what steps we all need to take now to ensure a ‘sustainable workforce’ that will allow our organizations to prosper today and well into the future.
Treasury leaders will take away from this session a deeper understanding of how to build and maintain a team to face the challenges, not only of the present but into the future.
Clare Carr, Bank of America Merrill Lynch
Anna Ettin, Bank of America Merrill Lynch
Stevie Goida, CRA International
Carolyn Maloney, Hypertherm
Nicole Sahin, Globalization Partners
Practitioner Only Open Forum
10:15 – 10:45 – Refreshment Break in Exhibit Hall sponsored by
10:45 – 12:00 – Concurrent Sessions
Fidelity Investments Kerry Pope along with Jamie Cortas, Director of Global Investment Management for Dell will offer their insight on balancing safety, liquidity and return through aligning liquidity segments with appropriate investment objectives and constraints that prudently structure corporate liquidity to opportunistically benefit from a shifting environment in which products, rates and regulations continue to evolve.
Prudent liquidity management starts with cash forecasting that drives liquidity segmentation. Once the segments are defined, investment objectives and constraints are aligned to create the basis of a strong investment policy. To further strengthen participants’ understanding, Kerry/Jamie will explore the applicability of investment alternatives with specific focus on prime money market and ultra-short bond funds. During the presentation, Fidelity will examine product risks and explore total return as a performance measure.
While a general overview may suffice for many topics, the devil is in the details regarding the management of corporate liquidity. Jamie will share insights from her direct experience in managing corporate liquidity for Dell Understanding the fine nuances within the liquidity markets may enable corporate managers to better assess the risk/return dynamics of these strategic liquidity alternatives.
Jamie Cortas, Dell
Kerry Pope, Fidelity Investments
This session will outline how Boston Scientific achieved over $150 million in increased operating cash flow by leveraging supply chain finance and overhauling how Boston Scientific pays its Suppliers.
Robert Castagna, Boston Scientific
Graeme Williamson, CTP, Boston Scientific
This presentation will focus on the treasury function of the future. The presentation will provide an overview and perspectives around how emerging technologies (i.e., blockchain, RPA, AI, cloud, and IoT) will not only transform, but disrupt, the treasury functions of the future, and ultimately change how Treasury delivers on its mandate to optimize financial assets and liabilities, drive cash flow improvements, process cash transactions and manage financial risk. We will then discuss how emerging technology will be applied to treasury objectives, such as financial risk management, by discussing a use case. Lastly, the session will include an in-depth discussion on steps that can be taken today to prepare Treasury functions for these technological changes in the future.
Shakshi Kamath, GE
Adam Taplinger, Pricewaterhouse Coopers LLP
This panel discussion will include representatives from a major Supply Chain Finance (SCF) technology platform provider, a major international bank & a well known credit insurance brokerage firm. The continuing trend seen in market to use SCF including both payables and receivables, as a major source of Working Capital for companies big and small will be discussed. We will also be discussing the overall size and scope of the now global SCF market, credit requirements, role and expanded use of Technology / Technology Platform in this business, off and on the balance sheet aspect, documentation, cost, and the expanding use of credit insurance to leverage exposure.
Andrew Colgan, Mizuho Americas
Bob Dyckman, Orbian
William Folker, Citizens Financial Group-Commercial Banking
Tom Malloy, Risk Protection International
Why are companies willing to face an uncertain currency market when something can be done to mitigate this risk? Currency movements – whether overnight surprises like the GBP’s free fall the morning after Brexit (the UK’s vote to withdraw from the EU) or the slow rise of the Euro over the last ten months –immediately impact international companies and their reported earnings unless the company hedges their international operations. We will use the rising Euro exchange rate to review the benefits of hedge accounting, demonstrate how the hedge can impact your earnings, and review a few typical response actions you can take to improve your financial outcome in particular situations.
Sandra Koch, Hedge Trackers
Cyber Security isn’t just about the black box of I.T. spend. There are a plethora of technologies that can prevent a breach. While hackers are targeting data in our new information age, it’s the people who are vulnerable & it’s the people with whom we should focus to prevent a breach.
Are you aware of how a cyber criminal will attack a corporation vs. a hacktivists vs a nation state? What motivates them? What tools do they use? How can you stop them?
What are the detriments of a hack? How much have the top ten hacks cost US corporations?
Come learn from industry expert, Eddie Doyle, Head of Global Customer Engagement at Check Point Software, the few simple disciplines necessary to prevent being hacked & how to take advantage of this burgeoning industry
Eddie Doyle, Checkpoint Software
For many years, finance was a male-dominated profession. Today, treasury teams are becoming more diverse and discovering the benefits that come with it, but is that being reflected at board level in our corporations?
This session brings together a panel of experts to look at what’s needed to encourage greater gender diversity in America’s boardrooms, and what that could mean for company performance.
You will leave this session with a deeper understanding of what’s needed to foster change at the top, and how you can contribute.
Andrew Arsenian, Bank of America Merrill Lynch
Geri DenterLein, Denterlein
Deborah Lawrence-Swallow, Bank of America Merrill Lynch
Pam Lenehan, Ridgehill Consulting
Linda Whitlock, The Whitlock Group
Practitioner-Only Open Forum
12:00 – 2:00 – Luncheon
|sponsored by||featuring Michael Wolff|
2:00-3:15 – Concurrent Sessions
ETFs have been active for 30 years, yet a broad understanding of ETFs is still somewhat limited. They are recognized as an attractive way to comingle monies, provide strategic returns and liquidity in a low-cost structure. Currently they are categorized as an equity security. We will discuss why corporate treasurers should understand these structures and utilize them to employ cash management objectives.
ETFs provide hundreds of fixed income strategies across multiple currencies. These strategies can help corporate cash managers refine their cash management post money market reform.
Will Goldthwait, State Street Global Advisors
Enhancing technology to optimize treasury processes, controls and reporting is now an essential treasury requirement rather than an optional commodity. A TMS selection and implementation is a risky undertaking! But Corporates demand − and in some cases, are required to have − current, global financial information with sophisticated analytics and intuitive reporting.
We will describe the common stumbling blocks for a technology initiative, and will provide strategies to successfully mitigate the traps that can cause delays, overruns or both. We’ll discuss what to do before the selection and implementation, what you can (and cannot!) expect of a TMS vendor, and how to keep an implementation on track and on budget.
Elaine Filus CTP, Treasury Strategies, a division of Novantas
Marci Lerner CTP, Hologic, Inc.
Effective use of KPIs requires regular reporting of the measures the organization has decided best reflect progress towards their goals. This session will show how to create an effective Executive Summary of the KPIs and visual representations of the data that can help executives see the insights from the analysis. It will show how groups can leverage tools like Excel to make the reporting easy to update each month, saving time and effort.
Dave Paradi, ThinkOutsideTheSlide
FX forwards and options are often presented as viable hedging strategies in corporate treasury and risk management. However, the economic fundamentals of those strategies are very different, and for companies whose goal is certainty in cash flows with minimum cost, the alternative is more between forwards and cross-currency swaps. But is that a fair comparison? This session explores how treasurers should think about alternatives that provide 100% cash flow certainty at no cost.
Razvan Ionescu CFA, Citizens Commercial Banking
The millennial generation is now the largest segment of our population, and they are continuing to drive changes in how we communicate and utilize technology. With nearly 80 million millennials born between 1980 and 1999, their behaviors and expectations are shaping developments in business, commerce, and even more simply, access to money. Through the use of payment sharing applications, millennials have driven the adoption of digital wallets.
With the accelerating participation in these peer-to-peer payment networks, opportunities to address a variety of business-to-consumer transaction sets are now available. Initial solutions are focused on offering a more efficient, secure and lower-cost alternative to traditional check payments. This session will describe the current landscape and how millennials are changing payments. We will discuss potential use cases and relevant solution considerations including settlement, reconciliation and the respective user experiences.
Cody Mamone, CTP, PNC Bank
Faster payments improve accounts payable efficiency. Successful accounts receivables need a strong focus on smarter payments. If you don’t receive the right payment data, cash application takes longer than with checks. How can you reduce costs and cycle times for processing electronic receivables? How can you accommodate business growth when FTEs are mired in exception handling and data entry? Hear Tronex discuss their approach to smarter receivables.
Seth Blacher, Wells Fargo & Co.
Marguerite Versacci CTP, Tronox
In economics, the popular take isn’t always the right one. It’s important to dig past the headline to get the whole story. Hear Jim Glassman, J.P. Morgan’s Commercial Banking Economics Head discuss key trends, economic insights and other factors driving the current markets. You won’t want to miss this timely, dynamic and educational presentation.
Jim Glassman, J.P. Morgan
Practitioner-Only Open Forum
3:15 – 3:45 – Refreshment Break in Exhibit Hall sponsored by
3:45 – 5:00 – Concurrent Sessions
This panel of corporate practitioners and industry experts discuss the realities and challenges involved in managing bank relationships in 2018. The panel will speak to the complexity of banking relationships today, what drives the decision to work with one or more banks, Basel III’s continued impact on banks and corporates alike, how to engage your bankers in your regular banking reviews, and will recommend tools to help grade your banks’ performance and to divide up your share of wallet.
Michael Lenihan, RedBridge DTA
Marci Lerner CTP, Hologic, Inc.
Gina Powers, Dunkin Brands
Cash management & forecasting are fundamental tasks for all treasurers. Creating a timely and accurate cash forecast from analyzing reports produced by misaligned systems, across your business lines is a challenge.
Treasurers need to be proactive in addressing these challenges through TMS and ERP tools that produce appropriately formatted reports with relevant content. Integrating a TMS with other business systems (e.g. ERP, financial planning systems etc.) will collate information automatically.
Leverage the right technology to harmonize your treasury, amplify your abilities, and become a Treasury superhero!
Jeff Diorio, Treasury Strategies, a division of Novantas
Benjamin Haws, Axletree Solutions, Inc.
FX hedging decisions should theoretically be agnostic of market rates and driven purely by treasury’s desire to protect results from adverse market fluctuations. Therefore, should forward points, i.e. difference between forward and spot, matter? Should market prices be considered in hedging decisions, hedge ratios or tenors? Obvious benefits can be captured, but can also be obliterated in volatile times by market movements. This session showcases examines hedging parameters and incorporating market dynamics in designing FX programs.
Razvan Ionescu CFA, Citizens Commercial Banking
In a ever changing global landscape, Flywire is working alongside partner banks such as Commerce Bank to help global treasury teams manage and grow their international customer base.
Please join us as Flywire’s Director of Global Payments Mohit Kansal talks with Brian Gordon from Commerce Bank about how collaboration between finchtech’s, banks, and corporate treasury teams is more important than ever.
Mohit Kansal, Flywire
Brian Gordon, Commerce Bank
Meghan Lovetere, Sevo Systems
“Your brain starts working the moment you are born and never stops until you stand up to speak in public.” The good news is that the skills of effective public speaking and presenting can be learned. Learn how to prepare and practice, control your nerves, create and deliver effective PowerPoint presentations, and conquer the anonymity of presenting over the internet. Whether you are presenting to a large audience, a team meeting, or to your volunteer group, learn the tips and techniques to improve your performance as a public speaker.
Lucy Suarez CTP, ACI Worldwide
Practitioner-Only Open Forum
5:00 – 6:30 – Reception
8:15 – 9:15 – Continental Breakfast
9:15 – 10:30 – Concurrent Sessions
Unclaimed property can be confusing and confounding, but the risk of material liabilities is very real. Most companies are already aware of unclaimed property and how it arises, but often feel that the rules surrounding unclaimed property are confusing and contradict many of their standard processes and procedures. That’s why we pulled together this list of things that every financial professional, as well as anyone concerned about managing their company’s risk, should know about unclaimed property. In addition to providing a refresher on unclaimed property, this session will address how unclaimed property can arise, identifying and remediating risk associated with unclaimed property, and how to address it so that it can be resolved, or reported, correctly. In addition, this session will also address the impact of unclaimed property audits and how to develop, and implement, effective unclaimed property policies and procedures.
Jim Sadik, True Partners Consulting
For many corporations, optimizing working capital is a priority. However, initiatives such as extending payment terms can have serious negative consequences for important suppliers. What’s needed is a working capital strategy that brings together treasury with procurement and other internal teams while not forgetting the needs of key suppliers.
Directing and managing this strategy demands fresh thinking about goals and performance indicators. Drawing on real-life examples, this session will look how corporates are tackling these issues, and how a new role of Head of Working Capital may be able to drive change throughout the organization and its global physical and financial supply chain. It will argue that treasury should lead the charge on working capital but that CFO sponsorship and cross-functional co-operation is essential.
Steve Gomes, BOSE
Maria Logiopoulou, Bank of America Merrill Lynch
Carolyn Maloney, CTP, Hypertherm
The fraud landscape is constantly evolving. Ready or not, fraud attacks will likely hit your company. 74% of companies were victims of payment fraud in 2016. Fraudsters now have access to complex malware and exploit kits in criminal forums, lowering the bar for entry to cybercrime. In this session you will learn which fraud threats pose the greatest risk to companies today and critical strategies your company needs to protect itself. With corporations’ assets, information and reputations at significant risk, real-world solutions and partnerships are required to protect against fraud. In this session, you’ll hear first-hand the various types of fraud attacks one company has been exposed to and what they’re doing to thwart future attacks. Find out what the federal government is doing to reduce and prevent fraud and how your company can organize to respond against fraud before it happens.
The fraud you thought you knew is changing. Fraud schemes have become more sophisticated and have been enabled by technological shifts, such as the proliferation of smartphones, and the emergence of extremely tech savvy criminals, ensuring attacks are more likely and can come from anywhere.
In this session, you’ll learn about emerging fraud threats, and security and fraud protection best practices for online and mobile banking.
John Kolar, Wells Fargo Bank
This session will cover The Clearing House’s new Real Time Payment system in particular the Business to Business implications of RTP, how acceptance of ISO 20022 messaging will create opportunities for improved business to business invoicing and remittance processing, and how a Payment Hub strategy can help modernize payment processing for banks and their commercial clients.
Robert E. Lajoie, Citizens Financial Group – Commercial Banking
Jim Maimone CTP, Citizens Financial Group – Commercial Banking
As companies grow their global footprint, they often struggle with decentralization, which makes it difficult for efficient cash management. “How much cash do we have?” is a question that a treasury organization should always be able to answer. However, according to Ovum’s 2016 survey of 200 treasurers across 23 countries, only 13% of multinational corporates can see their real-time global cash position. Attaining full visibility and efficiency can prove quite challenging for multinational companies without uniform internal systems and with thinly spread local staff.
This session will focus on gaining control of your company’s most important asset: cash. We will be sharing strategies for organizing cash management operations strategically in order to uncover and address any inefficiencies. The goal of the discussion will be to not only highlight best practices but also delve into prioritizing the steps you need to take.
Anthony Guide CTP, PNC Bank
Malware, Ransomware, Hacking, Personal Identifiable Information (PII), Protected Health Information (PHI), Internet of Things (IoT), Skimming, Rogue Employees, Rogue Vendors, Phishing, Foreign Government sponsored attacks… the list continues to grow with no end in sight. Companies large and small are under constant threat of attack – from inside as well as out. 48% of data security breaches are caused by acts of malicious intent – human error or system failure account for the remaining 52%.
Join us for a panel discussion of Cyber Professionals to outline today’s threats and identify ways organizations can utilize a compilation of risk-transfer and risk management techniques to reduce exposure, reinforce network security and monitor and manage threats in real time – internal & external. Learn the ins-&-outs of a robust incident response plan and ask questions of an experienced group of Cyber Professionals ranging from insurers to legal to response experts as well as the FBI’s Cyber Terrorism task force.
William Danielewski, Eastern Insurance
Rich Frankel, former FBI Terrorism/Cyber Terrorism
Jeff Kulikowski, Endurance/Sompo Insurance
Conor O’Brien, The Crypsis Group
Dave Perkins, US Risk Brokers
10:30 – 10:45 – Refreshment Break sponsored by
10:45 – 12:00 – Concurrent Sessions
Laddering bond portfolios is a time-honored strategy, but the fixed income market environment over the past ten years has made the strategy more challenging to execute. Fixed income managers have recently entered the ladder space, professionalizing the processes and improving the outcomes for investors. In addition to longer-term bond ladders, short corporate ladders can provide corporate treasurers with a diversified portfolio of high quality bonds for their ultra-short fixed income needs.
Andrew Goodall, Eaton Vance
Treasury teams around the globe are looking for ways to automate their processes to allow for more time to be spent on strategic tasks. While some organizations explore Treasury Management Systems (TMS) to fulfill a specific need, such as cash management, other organizations look to purchase a more robust solution to fulfill all their treasury needs and then some. A more comprehensive TMS would involve functionality such as: cash management, accounting, banking, payments, debt and investments, forecasting, etc. In this session, we will discuss the benefits a Treasury Management System can offer to assist treasury teams with streamlining their processes and managing their liquidity. Session attendees will learn more about how their TMS can collaborate with departments outside of treasury to not only send payments, but integrate with a back office system, and improve controls all through a centralized TMS platform. Real world examples will be given to highlight what a robust treasury system may look like and how to match your organizations needs with the solutions provided by the TMS vendor.
Scott Chin, MFS Investment Management
Warren Davey, Gtreasury
In this session, a subject matter expert from Hedge Trackers will present an overview of the latest updates on hedge accounting simplification ASU 2017-12 published by the FASB in August 2017. Hedge Trackers will touch on the key changes with respect to commodities and suggest ways to optimize hedging under the new rules, and discuss consideration factors for an early adoption decision. Participant takeaways include a review of the final hedge accounting rules under ASC 815 regarding commodities, an understanding on how the new accounting rules may affect the participants company’s current hedge accounting treatment, and how other corporates are thinking about the changes to ASC 815.
Glenn Suarez, HedgeTrackers
This session will contain a presentation and be structured as an open discussion around the many different factors and issues that are involved with Liquidity risk globally. The themes that will be involved in the open discussion are as follows:
-Global Regulatory Overview and Pressures involving Liquidity
-Current Landscape of Banks and Risks in the Global Financial System
-Cash is always king, but Collateral is key
-Liquidity – A globally scarce and precious commodity that must be preserved.
-The Digital Revolution meets Liquidity Management and Monitoring Infrastructure – How Technology is Transforming the Landscape
-Keys to Mitigating Liquidity Risk Globally
Phyllis Swanson-Welton, State Street
The initial rollout of Same Day ACH is now complete, and NACHA projects that use of Same Day ACH now exceeds more than 100 million payments annually.
In this session, Michael Herd of NACHA and Joe Hussey of JPMorgan Chase (and chair of NACHA’s Rules Committee) will identify some of the best corporate use cases for Same Day ACH, as well as several other surprising use cases.
The speakers also will look to the future and outline potential enhancements to Same Day ACH, including expanded hours for same-day processing, faster funds availability, and an increase in the transaction size limit for Same Day ACH payments.
Attendees will leave this session with an understanding of the key strategies for leveraging Same Day ACH payments, implementation considerations for Same Day ACH use cases, and the latest news on potential upcoming NACHA rule changes
Michael Herd, NACHA
Joe Hussey, JP Morgan Chase
Although it has become easier than before to transact in a different country, sending and receiving payments remains a headache-inducing experience for many businesses. Merchants are so concerned about the ability to transact payments as quickly across borders as they do locally with minimal impact to the bottom-line that it has stopped 39% of them from expanding into new and international markets.
Shamez Mangalji, AscendantFX
12:00 – 12:15 – Break
12:15 – 1:30 – Concurrent Sessions – Working Lunch
Anthony Carfang, Treasury Strategies
Treasury Management (TM) is one of the most complex operations in any financial institution, requiring multiple approval layers, paper-intensive documentation and disparate onboarding procedures. To better understand the complexities and inefficiencies associated with treasury onboarding, WAUSAU Financial Systems commissioned a study with Treasury Strategies, Inc. that not only got to the root of treasury management onboarding challenges but revealed a number of ways banks can streamline the process.
Ellen Kluge, Deluxe Treasury Management Solutions
Vaske Progri, Deluxe Treasury Management Solutions
This session will cover Treasury’s role in Global expansion and M&A and its key considerations. Audience takeaways will include and understanding of the various components of signals for change and key considerations Treasurers should address while going through the journey of Global expansion, M&A and Integration stages.
Arup Sinha, J.P. Morgan
Payment systems are changing at an unprecedented rate as the industry responds to consumer and business demands for faster and more secure payment options. Throughout the past few years, a new wave of innovation and collaboration within the payments industry has aimed to tackle these payment issues for businesses through a set of new systems and solutions.
This session will feature a panel of industry professionals who will review the progress that has been made so far; the types of issues that remain; what the next wave of payments digitization may reveal; and security options for organizations that pursue the changes.
Presenters will review industry case studies detailing how the latest global payments solutions and innovations have been performing and what the new options may mean to your business. Topics covered will explore:
- Drivers for employing immediate payment services
- Causes behind today’s cross-border payment process challenges
- Potential implications of new and alternative payment channels and technologies
- Examples of innovative solutions in pilot or readily available across the industry
- What the future holds and where we are headed
Vesi Dimitrova, Computershare
Jeanne Keane, CTP, Staples
Lynne Marlor, BNY Mellon
Ryan McHugh, BNY Mellon
Hank Seemore, Partners Healthcare
Help your organization create a leadership culture that profoundly improves the performance of the organization by incorporating the 5 simple yet powerful principles that will change the way we view human behavior and our belief about accountability and responsibility. We will discuss these 5 principles and also address elements of personal effectiveness and self-awareness which are so essential for leaders and where there is often much room for improvement. To help everyone implement what they are learning and take their leadership to the next level, everyone in attendance will receive an access code to take a FREE Everything DiSC Work of Leaders on-line assessment. This is a $100 value! There are no strings attached, you get the code and take the assessment online and the result will be send to you via email. This is a powerful instrument that gives important feedback on your behavioral style and your leadership strengths and recommendations for improvement.
Bernhard Heine, Professional Business Coaches, Inc.