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CTC Guides

An in-depth look at a specified topic that is developed via interviews with treasury executives. Presented as bi-monthly case studies, with practical applications and tools such as models and checklists.

CTC Guides are restricted to members who are corporate practitioners.


CTC Series on Global Interconnectivity

Issue 4: Setting a Global Payments Strategy


This guide examines how to set a global payments strategy. The guide recognizes that companies are at different stages of centralization: the discussion should be relevant to treasurers at any stage of this process. The guide is structured in two halves. The first half starts by examining the current global payment landscape. The second half of the guide has been designed to support any treasury practitioner seeking to review or introduce a global payments strategy. It identifies the most likely core objectives of such a strategy: improved efficiency, better risk management and access to more detailed data.



CTC Series on Global Interconnectivity

Issue 3: Communications in a Global Treasury


This guide focuses on the communications needed to make global treasury structures work as efficiently as possible. It explains how centralized treasury structures can never deliver the expected gains without an efficient flow of data and information. It also discusses why it is important for treasurers to spend time discussing treasury objectives with a full range of partners.



CTC Series on Global Interconnectivity

Issue 2: Netting, Pooling & In-House Banking


Netting and cash pooling techniques have changed over recent years as banks have altered their propositions, regulations have been liberalized, and technology has enhanced the benefits of these approaches. Download this guide to learn how to evaluate the benefits and costs of netting and pooling, and find the solution that best suits your organization’s needs.



CTC Series on Global Interconnectivity

Issue 1: Centralization of Treasury in a Global Context


In today’s global economy, multinationals have greater opportunities than ever before to expand into new territories and continents in order to seek growth. The treasurer’s primary role is to manage cash in support of the corporate strategy. In this context, treasurers have been looking to centralize the management of cash and its associated risk on a regional or even global scale. This Guide, the first in a series on Global Interconnectivity, highlights the types of structures available and in use today. It assesses the trend for centralization of treasury in light of developments in technology and changes in regulation. This is designed to help readers identify the challenges to be overcome when assessing the suitability of a centralized structure.



CTC Guide to Effective Compliance with Global Regulations

Supported by Thomson Reuters


One of the biggest challenges facing corporate treasurers is how to respond to the mass of proposed and new regulations around the world. This guide focuses on four areas in which new regulations have been implemented and outlines the key decisions that corporate treasurers need to make in the face of new or revised legislation affecting their operations.



CTC Guide to Cybersecurity

Supported by Marsh & McLennan Companies

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Seemingly every day there is a new report of a high-profile security breach at a major national or multinational corporation. The 2015 AFP Risk Survey found that 34% of companies had been subjected to a cyberattack in the last 18 months. These reported cases are the tip of the iceberg. This guide will explore cybersecurity threats in depth and lay out tips for setting a cyberrisk management strategy.



CTC Guide to Leading ERM

Sponsored by Reval


According to AFP's 2014 Strategic Role of Treasury Survey, 84 percent of treasury professionals are playing a more strategic role in their organizations today than they were five years ago; however, only 25 percent reported that their view of the organization is now more holistic. If treasurers are to reach their full potential and play a more leading role in their companies’ Enterprise Risk Management (ERM) programs, that needs to change.



CTC Guide to Entering New Emerging Markets

Sponsored by Reval


This guide focuses on the scenario where the requirement is to establish treasury operations in a new emerging market. One of the biggest challenges is to recognize when activities which may be taken for granted in a home or developed market, such as opening a bank account or effecting a cross-border payment, present a significant challenge in terms of time or documentation. Understanding where the potential pitfalls lie will help the corporate treasurer plan the move into the new market much more efficiently.



CTC Guide to Risk in the Supply Chain

Sponsored by Reval

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In this guide, we explore some of the ways treasurers can use their skills and insights to support strategic management of risk in the supply chain.It is unlikely that most treasurers will have the responsibility for implementing supply chain risk management policies outside finance. However, the treasurer can help to identify, evaluate and suggest mitigation techniques across the whole organization.This guide looks at the distinct stages in managing supply chain risk, and identifies ways in which the treasurer can add value to the organization as a whole.



CTC Guide to Attracting & Retaining Talent

Sponsored by Reval

CTC_14_TalentGuide_Thumb   Finding and developing talent is a challenge for all finance organizations. But nowhere is the challenge more pressing than in treasury groups, according to experts and eight treasurers interviewed for this guide. This CTC guide delves deep into the unique challenges treasurers face in finding and retaining top talent through non-monetary incentives. It includes practical examples from eight companies in different industries, from food to recreational vehicles, with a focus on how treasurers can identify and retain best performers.



CTC Guide to RMB

Sponsored by Standard Chartered

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The Chinese government’s 12th five-year plan calls for continued liberalization of the renminbi (RMB), with the eventual relaxation of the capital account. The most recent developments along this line came in July this year when the Chinese authorities eased several requirements making it possible to further integrate the RMB into global corporate treasuries. First, the rules for cross-border trade settlement have been simplified. Next, and perhaps most importantly, the government opened up the spigot on lending onshore RMB to offshore affiliates and even third parties. The above developments together with the new China (Shanghai) Free Trade Experiment Zone (CSFTEZ), which was officially opened on September 27, are cause for excitement.



CTC Guide to ERM

Sponsored by PwC


This is not the typical Enterprise Risk Management (ERM) guide. Instead it focuses on the experiences of five companies and their ERM programs. Based on extensive interviews with corporate risk practitioners and experts and including quantitative data, this practitioner’s guide presents detailed examples of the ways in which companies have approached ERM and how their efforts provide valuable insight into leading ERM practices.



CTC Guide to Corporate Insurance


The corporate insurance market is going through a profound transformation. The costs of premiums are rising, reflecting trends in the insurance market. At the same time, insurance managers are becoming savvier managers of comprehensive risk, looking at concepts like total cost of risk (TCOR) rather than just purchasing insurance coverage. The issue no longer is about what the year-over-year increase is in premium cost, rather, it’s about the company’s risk tolerance threshold. Given that tolerance level, what level of risk should a company retain? How can it finance that retained risk? What risks should be transferred? Instead of automatically buying the same coverage, companies are asking these important questions about their risk profile and their needs. And so are insurers.



CTC Guide to Treasury Technology


The Cloud and emerging ERP functionality are reshaping the treasury technology landscape. What do these new trends mean for treasurers and how are companies leveraging automation to improve their treasury operations? This is an exciting time in treasury technology. It’s therefore an important time for treasurers to survey the emerging landscape so they can make long-term decisions about systems investments.


CTC Guide to Global Treasury Structures


Treasury is facing increased pressure to support global business as companies look for growth outside the US and Europe. This guide will explore how treasury is restructuring its operations, deploying technology and altering its skill mix in order to provide the business with the liquidity, risk management and decision-making support it requires to succeed internationally.


CTC Guide to FX

CTC-12_Guide_FX_Thumb   Foreign exchange risk is not a new issue for today's organizations. Multinationals have struggled with it for years. However, the current financial and economic environment presents new challenges and opportunities, and they are triggering a reexamination of the way corporations manage their currency exposures.


CTC Guide to eBAM


Bank account management has not changed in decades. It almost always requires a wet signature, reams of paperwork and a tedious manual process that involves multiple communications between banks and corporate clients. eBAM, or electronic bank account management, promises to change all that. It will enable treasury to send electronic messages to their bank partners, to open, close, manage signatories and get account information without manual intervention, along the way dramatically reducing error, shrinking response time and increasing the level of control and regulatory compliance.



CTC Guide to Counterparty Risk Management


Counterparty credit risk is an issue of growing concern among Boards, senior management and now treasurers. The economic slowdown and major shocks to the global banking industry have raised awareness of the dangers of default, even at large institutions. As a result, there's a greater emphasis on how companies measure, manage and mitigate their counterparty credit risk exposures, and treasurers are increasingly in the thick of it. As more treasurers get involved in managing credit risk beyond just their exposure to financial institutions, they are using new methodologies and tools to identify and mitigate risk. This upcoming CTC Guide highlights the approaches of leading organizations, as well as offers a glimpse into some of the available tools that are reshaping the way companies view and protect their counterparty credit risk exposures.



CTC Guide to Treasury Metrics


Treasury metrics are hard to find. Only 50% of companies measure their treasury's performance according to AFP research. But more want to, and there are multiple trends that are forcing more treasuries to begin to track their performance. As treasury plays an increasingly strategic role in the organization, its visibility grows and with it senior management and Board scrutiny. Finally, the economic environment has shined a spotlight on treasury's traditional activities of managing cash. Boards and senior management want greater visibility into liquidity, demanding new measures as a result. This CTC Guide explains the trends behind the search for treasury metrics, outlines multiple approaches to creating a treasury scorecard or dashboard and includes real-life examples of dashboards and scorecards that companies use. It also offers helpful hints on how to begin building your own treasury scorecard.



CTC Guide to Capital Structure


The science and the art of constructing the right capital structure and the role treasurers play in optimizing their companies' use of capital to support corporate strategy and maximize value. We surveyed capital structure theory and compared it to the "real-life" decision-making factors firms use when arriving at their ultimate decisions. We interviewed treasurers from diverse organizations, from cash-rich tech firms to cash-strapped, highly leveraged multinationals. We talked to them about the key factors driving the decision-making at their firms, from target ratings to target liquidity, and how they adjust their capital structure to support their companies' business.


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