When he started in treasury, Deepak Patil had only a theoretical idea of how a treasury department functions. “And I had absolutely no idea how the financial operations, middle office and back office are separated by the systems and extensive responsibilities each department caters to,” he said. But he knew one thing for sure: that he wanted to get in to treasury.
When it comes to cash forecasting, the primary goal of treasury is to ensure the organization has enough cash to meet its obligations over a certain time period. Thanks to most organizations partaking in the trend of having a forensic-level focus on cash, treasury has a much clearer view of the dynamics of and correlations between the various cash flows that make up the forecasts.
After graduating from Business School, Sovanna Tang, CTP, took a job as a senior associate, where he largely worked in audit. He then worked as an accounting specialist. “The work in financial reporting is complicated at first, but eventually it is quite mundane and becomes routine,” said Tang. That’s when he decided to make the transition to capital liquidity control.
From the beginning of his time with Moody’s Analytics, Shakalya Nag, CTP, wanted to venture into the treasury domain. Understanding the systems and processes was of great interest to him. Then he started working on RFPs for major MNC banks in their treasury domain, and he’s has been working on the sales side of treasury operations and fund compliance ever since.
AFP recently met with a group of treasury professionals in the APAC region to see how things are progressing for the treasury profession there, if there is a skills gap, and if so, how it’s being addressed. The following is a compilation of their thoughts and insights.
What goes into an effective presentation? How is it different when you’re in the finance profession? At our second “Report Renovations” webinar, we asked the attendees what storytelling means to them.
AFP recently sat down with Carmen Turner, member of the North American FP&A Advisory Council and has held finance positions at SwipeSense, McGraw Hill and the CME Group, to get her opinion on daily life in FP&A.
Treasury and FP&A both develop forecasts to inform decision-making. Forecasts are developed for: the short-term, to help treasury ensure the company has sufficient cash to meet upcoming obligations; the medium-term, to ensure access to sufficient credit lines; and the long-term, to help ensure the capital structure can support the delivery of the business strategy.
Tharanga Gunasekara, FPAC, FP&A and financial performance analyst for AMP Capital Australia used his time during the pandemic to think clearly about how to best shape his career post-pandemic. And it paid off. He landed his dream job.
AFP recently met with a group of treasury professionals from the U.S. to discuss the war in Ukraine and how their organizations are responding to and dealing with the challenges stemming from the conflict.
Seeking to better connect with and serve treasury professionals in the Middle East and Africa region, the Association for Finance Professionals (AFP) recently launched the Middle East and Africa (MEA) Treasury Advisory Council.
In the recent webinar, “Getting Your Data Right: How Architecture Facilitates Data Culture,” two members of Chick-fil-A’s (CFA) Financial Solutions Lab — Camille Felton, CTP, FPAC, Principal Team Leader and Matt Burton, Director within Financial Operations & Technology — shared valuable insights from their journey.
In the past two years, the pandemic changed a lot in terms of how we live, travel and, in many cases, the way we work. Globally, organizations mandated that employees work remotely, which required companies to alter many of their processes and procedures. One of the processes impacted was payments.
“Over a relatively short time, cash forecasting has shifted from a function of survival to the ability to be nimble and react to strategic opportunities.”
A running theme throughout the submissions this year appears to be one of structure. At this point, most organizations understand the value of FP&A and are at the very least trending toward partnership with their internal team.
Treasury and FP&A can develop more meaningful forecasts to support the development of business strategy. There are potential benefits from a collaborative approach in a number of areas.
AFP recently caught up with Kerry Shattell, CTP, assistant vice president of Blackstone in Singapore, to discuss her decision to earn the CTP, and how it has affected her life and career journey.
The AFP 2022 Conference Planning Task Force recently met to review all educational session submissions and select the final session lineup for each of the six tracks. Because we’re too excited to wait until this fall to share the information with you, below are some highlights of the sessions that we are most interested in on the topics of risk, capital markets and payments.
In 2015, AFP first conducted a survey to help members understand the true cost of their payments by payment type, based on internal and external costs. In 2022, the survey was conducted again, underwritten by Corpay, to see how things had changed, and with over 300 responses, we were able to get a holistic and true price picture of the cost of payments.
When Jun Jep Lee, CTP, business development executive for Triterras, got his start in corporate banking, he didn’t understand why it was so important to have knowledge of treasury. AFP sat down with Lee to discuss how that perspective altered quickly when he realized treasury's impact in every aspect of his day-to-day career.
AFP recently spoke with Connagh Hopkins, head of Business Planning and Reporting for Western Power, as part of our spotlight on members of our APAC FP&A Advisory Council (FPAAC). Hopkins shared with us her perspective on using 'finance' to describe her role and her thoughts on educating others to see past assumptions of the description.
We all know the stressors and challenges in our professional finance lives. The AFP's North American Financial Planning and Analysis (FP&A) Advisory Council (FPACC) recently had a conversation regarding how life in finance has changed and how to navigate these changes.
How has finance talent changed today? What changes have you noticed or consciously made in what you look for, or how have you trained your people up differently? AFP’s Asia Pacific FP&A Advisory Council considered this question at their February meeting, and what emerged was an understanding of a finance function in flux.
AFP recently caught up with Nozomi Abe, FPAC, financial analyst at Qualcomm in Japan, to discuss her decision to earn the FPAC, and how it has affected her life and career journey. The Certified Corporate Financial Planning and Analysis Professional (FPAC) designation is a set of core competencies for the corporate financial planning and analysis (FP&A) profession and a a global symbol of excellence.
When Saima Jamil joined Transworld Associates in 2013, she took a job in the finance division where she dealt with the banks and related matters. At that point in time, the finance department was small and there was no formal treasury role, even though treasury activities were happening. The company started to expand and massively enhanced its core projects to the point where a formal treasury department was established.
After nine years in the banking industry, Colin Ho, CTP was ready to move on to his next career development challenge. What he came to discover is that he’s most passionate about taking on complex commercial challenges such as managing strategic liquidity requirements, financial risk management across foreign exchange, interest rate and other market risks and securitization financing.
If there's anything we've learned in the past year, it's that there is no normal anymore. We at AFP realized that most of our members were going to be creating a budget or a forecast without a stable basis of comparison for operations due to market, talent and high supply chain disruptions. All of our historicals were thrown out of whack!
Cash forecasting is top of every financial professional’s mind, particularly as we continue to climb out of the coronavirus pandemic worldwide. In a recent webinar, “Cutting Through the Hype: Pearson’s AI-based Cash Forecasting Marvel,” Nicolas Christiaen and James Kelly, walk us through their journey to an AI-based cash forecasting system.
The Indian economy is expected to evolve rapidly in 2022 and beyond — and the call for knowledgeable and skilled financial planning and analysis (FP&A) professionals has never been greater. These strategic thinkers have risen to the role of essential business partners, and their influence and value are expected to be sought by corporations throughout the APAC region for the foreseeable future. And, with the right credentials, financial professionals in India can expect to rise in their organisations to fill these essential talent gaps.
How are our peers in Ukraine’s treasury and finance profession faring? This is a question we’ve all been wondering as we watch the world news each night, read the latest headlines and, for those of us who are operating outside the warzone, offer a moment of gratitude.
Comprised of top FP&A professionals from around the globe, the FP&A Advisory Council aids AFP’s staff in understanding current and developing areas of focus pertinent to FP&A, allowing us to better serve our association members. In this month's profile we spoke with Raja Ramachandran, MBA, FPAC, CTP, CMA, director of global FP&A for Owens & Minor.
When we talk about changing culture in an organization, it rarely starts with finance, but maybe it should. Why? Because finance has a significant impact — good or bad — on the culture of any organization. In an ownership culture, people spend money like it's their own, and that leads to more discipline. And it leads to more willingness to invest in good things.
Swing pricing is widely used in Europe to regulate money market mutual funds. If instituted here in the U.S., funds would be required to adjust their share prices to reflect transactions costs. During periods of heavy withdrawals, that would also include the effect of selling assets that are less liquid.
What do the ancient pyramids of Egypt and corporate hierarchies have in common? They have both existed for as long as civilization, they require a large base to support the apex, and neither is the best way of building for the future. Just as technology has been empowering our personal worlds with faster, cheaper, and more democratized access to knowledge, the same is happening in the corporate world.
We work in FP&A, analysis is in our name and DNA. We should be presenting insights, and visualizations are effective forms of communication, to elevate our work from good to great. AFP set out create a webinar series that shows in practical terms what can be created through a reporting renovation, with graph glow-ups and charting conversions.
How can we find motivation and meaning, rethink assumptions and live more generous and creative lives? Just ask Adam Grant. By way of prolific and passionate writings, talks and teachings, Grant is helping us rethink leadership, work and life. And this year, he’s also the AFP 2022 Tuesday Keynote.
The Association for Finance Professionals (AFP) opened its Asia office in Singapore in June 2019 seeking to better connect with and serve finance professionals in the Asia-Pacific region. This year, we formed the APAC Treasury Council to further our understanding of the unique challenges and needs within the region.
What does design have to do with finance? Finance has the ability to design processes that derive more value for themselves and their business partners with lower pain points and increased efficiency by applying design thinking principles.
Xin Gan, finance controller for Valeo Service China, is a current member of AFP’s Financial Planning and Analysis Advisory Council (FPAAC), which is instrumental in the delivery of relevant and timely content to the membership and community. We recently spoke with Gan about his management style and the impact and importance FP&A has had on his skillset.
Speaking at a national conference of your peers is a great recognition of your hard work and success. Lots of proposals will be submitted for AFP 2022, so how can you make sure your topic shines and gets strong consideration?