Posts

Start your journey on September 22: International Treasury Management and Corporate Finance course

03-09-2020 | by Kendra Keydeniers | Francois De Witte | ATEL

Start your Treasury Management and Corporate Finance journey on September 22! This is your last reminder before the registration will be closed.

Invest in yourself, invest in knowledge

The treasurer is the custodian of the company’s daily liquidity. He manages, anticipates and secures cash flows by ensuring that financial needs are covered.

This cursus will give the ability to assist directly and practically the treasurer of large corporates or to take over the treasury responsibilities in a SME.

The various modules will allow acquiring an in-depth knowledge of the various areas of the “Corporate Treasure” profession.

Registration

This course will start 22 September 2020. It includes 13 training modules and 5 intermediary exams. It is necessary to complete this form before your official registration. Registration will be closed early September 2020.

Objectives

At the end of this programme, the participant will able to:

  • assist directly and practically the treasurer of large corporates
  • take over treasury responsibilities in a SME.

The various modules will allow to acquire an in-depth knowledge of the various areas of the “Corporate Treasurer” profession.

Programme

Module 0: Introduction to Treasury Management
Speaker: Benjamin Defays / Treasury Manager

  • Corporate Treasurer’s responsibilities
  • Cash management (bank account opening, closing, KYC, Cash pooling, Payments and bank connectivity)
  • Liquidity management (importance of working capital management,
  • Risk management (foreign exchange, fraud, credit risk)
  • Trade finance (general context, intro to bank guarantees and letters of credit)

Module 1: Financial Maths (Focus on treasury & corporate finance)
Speaker: Hugues Pirotte / Professor of Finance at Solvay Brussels School

  • Focus on treasury & corporate finance
  • Time Value of Money
  • Vocabulary
  • Compounding intervals
  • Discount and annuity factors

Module 2: Advanced Excel workshop for treasurers (Dedicated to treasury)
Speaker: Hugues Pirotte / Professor of Finance at Solvay Brussels School

Module 3: Corporate Finance
Speaker: Mikael Pereira / Associate, Finance

  • Valuations
    • M&A’s
    • Portfolios
  • Corporate Financing
  • Corporate Investments

Module 4: Cash Management (domestic and international)
Speaker François De Witte / Consultant

  • Payments (Process, Tools)
  • Liquidity Management
  • Cash-Flow Forecasting
  • In-House Banking
  • Banking Relationship

Module 5: Trade Finance
Speaker: Benjamin Defays / Treasury Manager

  • General contact, cultural aspects
  • Why trade finance in treasury
  • Bank Guarantees, Burgschafts, Surety Bonds, Letters of Credit, Cash against Documents
  • Alterative security instruments
  • Disruptive technologies

Module 6: Credit Control
Speaker: Anca Vasiliu / Counterparty Risk Manager

  • Concepts & Practices/Types of Credit Risks
  • Understanding Financial Statements and Ratios
  • Credit Scoring/Ratings – S&P, Bloomberg models
  • Collecting overdue receivables – setting priorities
  • Strategies dealing with overdue invoices
  • Debt collection services development

Module 7: Pension / Insurance 

  • General introduction on insurances and pensions
  • Typology of insurances
  • Risk management via insurances
  • Saving via insurances

Module 8: Compliance

  • KYC, GDPR, EMIR, Bale III
  • International sanctions and their impact on transactions & overall business activities
  • Anticorruption (FCPA, UK Bribery Act)
  • EU competition law compliance
  • INCOTERMS
  • Drafting a contract (main considerations)

Module 9: Risk Management
Speaker: Patrick Verspecht / Group Treasurer

  • FX, Interests
  • Counterparties
  • Others (Reputation, etc…)

Module 10: Regulations / Accounting
Speaker: Quentin Bodart / Senior Finance Engineer

  • Emir, Mifid 2, Basle II and III,
  • Dodd Frank, GDPR, Fatca, Section 385…

Module 11: Treasury Accounting
Speaker: Quentin Bodart / Senior Finance Engineer

  • Accounting for Derivatives
  • Hedge Accounting, IFRS9 (all from a treasury side)

Module 12: Technologies
Speaker: Patrick Verspecht / Group Treasurer

  • New Technologies
    • Blockchain, Crypto-currencies, Smart Contracts
  • Treasury Console (Bloomberg, Thomson Reuters)
  • TMS, Fintechs

Module 13: Cyber Fraud

  • Why Cyber fraud needs to be considered as a major risk
  • Identify the consequences of a cyberattack
  • Main fraud schemes
  • How to protect against fraud

Some homework might be proposed for some modules, there will be continuous control in the form of intermediary exams (under the form of QCM) and a final exam will be sanctioned by an attestation delivered by ATEL (The Luxembourg Association of Corporate Treasurers).

There might also be one or two “extra-activity”, such as a visit in a bank trading room or/and a special guest speaker addressing the cursus participants on a specific subject (still to be defined, optional events).

Target Audience

Anyone willing to acquire an in-depth knowledge in corporate treasury and wishing to exercise this knowledge in practice.

Prerequisites

  • Basic background in finance or accounting
  • For the Advanced Excel workshop, a preliminary (good) knowledge in Excel is required

Course Material

The course material can be downloaded free of charge via your portal the day before the start of the course (download the Client Portal User’s Guide here).

Certificate

At the end of the programme, the participants will receive a “Certificate of Attendance” delivered by the House of Training, and an attestation of “Exam Success Pass” delivered by ATEL.

In order to get certified, an 80% rate of attendance and a 60% average score on the examinations are required.

The participants will also receive a one-year free membership to ATEL (www.atel.lu) giving a number of advantages.

Register here

 

 

 

 

 

 

International Treasury Management and Corporate Finance course in September 2020

06-07-2020 | by Kendra Keydeniers | Francois De Witte | ATEL

The treasurer is the custodian of the company’s daily liquidity. He manages, anticipates and secures cash flows by ensuring that financial needs are covered.

This cursus will give the ability to assist directly and practically the treasurer of large corporates or to take over the treasury responsibilities in a SME.

The various modules will allow acquiring an in-depth knowledge of the various areas of the “Corporate Treasure” profession.

Registration

This course will start late September 2020. It includes 13 training modules and 5 intermediary exams. It is necessary to complete this form before your official registration. Registration will be closed early September 2020.

Objectives

At the end of this programme, the participant will able to:

  • assist directly and practically the treasurer of large corporates
  • take over treasury responsibilities in a SME.

The various modules will allow to acquire an in-depth knowledge of the various areas of the “Corporate Treasurer” profession.

Programme

Module 0: Introduction to Treasury Management
Speaker: Benjamin Defays / Treasury Manager

  • Corporate Treasurer’s responsibilities
  • Cash management (bank account opening, closing, KYC, Cash pooling, Payments and bank connectivity)
  • Liquidity management (importance of working capital management,
  • Risk management (foreign exchange, fraud, credit risk)
  • Trade finance (general context, intro to bank guarantees and letters of credit)

Module 1: Financial Maths (Focus on treasury & corporate finance)
Speaker: Hugues Pirotte / Professor of Finance at Solvay Brussels School

  • Focus on treasury & corporate finance
  • Time Value of Money
  • Vocabulary
  • Compounding intervals
  • Discount and annuity factors

Module 2: Advanced Excel workshop for treasurers (Dedicated to treasury)
Speaker: Hugues Pirotte / Professor of Finance at Solvay Brussels School

Module 3: Corporate Finance
Speaker: Mikael Pereira / Associate, Finance

  • Valuations
    • M&A’s
    • Portfolios
  • Corporate Financing
  • Corporate Investments

Module 4: Cash Management (domestic and international)
Speaker François De Witte / Consultant

  • Payments (Process, Tools)
  • Liquidity Management
  • Cash-Flow Forecasting
  • In-House Banking
  • Banking Relationship

Module 5: Trade Finance
Speaker: Benjamin Defays / Treasury Manager

  • General contact, cultural aspects
  • Why trade finance in treasury
  • Bank Guarantees, Burgschafts, Surety Bonds, Letters of Credit, Cash against Documents
  • Alterative security instruments
  • Disruptive technologies

Module 6: Credit Control
Speaker: Anca Vasiliu / Counterparty Risk Manager

  • Concepts & Practices/Types of Credit Risks
  • Understanding Financial Statements and Ratios
  • Credit Scoring/Ratings – S&P, Bloomberg models
  • Collecting overdue receivables – setting priorities
  • Strategies dealing with overdue invoices
  • Debt collection services development

Module 7: Pension / Insurance 

  • General introduction on insurances and pensions
  • Typology of insurances
  • Risk management via insurances
  • Saving via insurances

Module 8: Compliance

  • KYC, GDPR, EMIR, Bale III
  • International sanctions and their impact on transactions & overall business activities
  • Anticorruption (FCPA, UK Bribery Act)
  • EU competition law compliance
  • INCOTERMS
  • Drafting a contract (main considerations)

Module 9: Risk Management
Speaker: Patrick Verspecht / Group Treasurer

  • FX, Interests
  • Counterparties
  • Others (Reputation, etc…)

Module 10: Regulations / Accounting
Speaker: Quentin Bodart / Senior Finance Engineer

  • Emir, Mifid 2, Basle II and III,
  • Dodd Frank, GDPR, Fatca, Section 385…

Module 11: Treasury Accounting
Speaker: Quentin Bodart / Senior Finance Engineer

  • Accounting for Derivatives
  • Hedge Accounting, IFRS9 (all from a treasury side)

Module 12: Technologies
Speaker: Patrick Verspecht / Group Treasurer

  • New Technologies
    • Blockchain, Crypto-currencies, Smart Contracts
  • Treasury Console (Bloomberg, Thomson Reuters)
  • TMS, Fintechs

Module 13: Cyber Fraud

  • Why Cyber fraud needs to be considered as a major risk
  • Identify the consequences of a cyberattack
  • Main fraud schemes
  • How to protect against fraud

Some homework might be proposed for some modules, there will be continuous control in the form of intermediary exams (under the form of QCM) and a final exam will be sanctioned by an attestation delivered by ATEL (The Luxembourg Association of Corporate Treasurers).

There might also be one or two “extra-activity”, such as a visit in a bank trading room or/and a special guest speaker addressing the cursus participants on a specific subject (still to be defined, optional events).

Target Audience

Anyone willing to acquire an in-depth knowledge in corporate treasury and wishing to exercise this knowledge in practice.

Prerequisites

  • Basic background in finance or accounting
  • For the Advanced Excel workshop, a preliminary (good) knowledge in Excel is required

Course Material

The course material can be downloaded free of charge via your portal the day before the start of the course (download the Client Portal User’s Guide here).

Certificate

At the end of the programme, the participants will receive a “Certificate of Attendance” delivered by the House of Training, and an attestation of “Exam Success Pass” delivered by ATEL.

In order to get certified, an 80% rate of attendance and a 60% average score on the examinations are required.

The participants will also receive a one-year free membership to ATEL (www.atel.lu) giving a number of advantages.

Register here

 

 

 

 

 

 

Start your International Treasury Management and Corporate Finance course in September 2020

29-5-2020 | by Kendra Keydeniers | Francois De Witte | ATEL

The treasurer is the custodian of the company’s daily liquidity. He manages, anticipates and secures cash flows by ensuring that financial needs are covered.

This cursus will give the ability to assist directly and practically the treasurer of large corporates or to take over the treasury responsibilities in a SME.

The various modules will allow acquiring an in-depth knowledge of the various areas of the “Corporate Treasure” profession.

Registration

This course will start late September 2020. It includes 13 training modules and 5 intermediary exams. It is necessary to complete this form before your official registration. Registration will be closed early September 2020.

Objectives

At the end of this programme, the participant will able to:

  • assist directly and practically the treasurer of large corporates
  • take over treasury responsibilities in a SME.

The various modules will allow to acquire an in-depth knowledge of the various areas of the “Corporate Treasurer” profession.

Programme

Module 0: Introduction to Treasury Management
Speaker: Benjamin Defays / Treasury Manager

  • Corporate Treasurer’s responsibilities
  • Cash management (bank account opening, closing, KYC, Cash pooling, Payments and bank connectivity)
  • Liquidity management (importance of working capital management,
  • Risk management (foreign exchange, fraud, credit risk)
  • Trade finance (general context, intro to bank guarantees and letters of credit)

Module 1: Financial Maths (Focus on treasury & corporate finance)
Speaker: Hugues Pirotte / Professor of Finance at Solvay Brussels School

  • Focus on treasury & corporate finance
  • Time Value of Money
  • Vocabulary
  • Compounding intervals
  • Discount and annuity factors

Module 2: Advanced Excel workshop for treasurers (Dedicated to treasury)
Speaker: Hugues Pirotte / Professor of Finance at Solvay Brussels School

Module 3: Corporate Finance
Speaker: Mikael Pereira / Associate, Finance

  • Valuations
    • M&A’s
    • Portfolios
  • Corporate Financing
  • Corporate Investments

Module 4: Cash Management (domestic and international)
Speaker François De Witte / Consultant

  • Payments (Process, Tools)
  • Liquidity Management
  • Cash-Flow Forecasting
  • In-House Banking
  • Banking Relationship

Module 5: Trade Finance
Speaker: Benjamin Defays / Treasury Manager

  • General contact, cultural aspects
  • Why trade finance in treasury
  • Bank Guarantees, Burgschafts, Surety Bonds, Letters of Credit, Cash against Documents
  • Alterative security instruments
  • Disruptive technologies

Module 6: Credit Control
Speaker: Anca Vasiliu / Counterparty Risk Manager

  • Concepts & Practices/Types of Credit Risks
  • Understanding Financial Statements and Ratios
  • Credit Scoring/Ratings – S&P, Bloomberg models
  • Collecting overdue receivables – setting priorities
  • Strategies dealing with overdue invoices
  • Debt collection services development

Module 7: Pension / Insurance 

  • General introduction on insurances and pensions
  • Typology of insurances
  • Risk management via insurances
  • Saving via insurances

Module 8: Compliance

  • KYC, GDPR, EMIR, Bale III
  • International sanctions and their impact on transactions & overall business activities
  • Anticorruption (FCPA, UK Bribery Act)
  • EU competition law compliance
  • INCOTERMS
  • Drafting a contract (main considerations)

Module 9: Risk Management
Speaker: Patrick Verspecht / Group Treasurer

  • FX, Interests
  • Counterparties
  • Others (Reputation, etc…)

Module 10: Regulations / Accounting
Speaker: Quentin Bodart / Senior Finance Engineer

  • Emir, Mifid 2, Basle II and III,
  • Dodd Frank, GDPR, Fatca, Section 385…

Module 11: Treasury Accounting
Speaker: Quentin Bodart / Senior Finance Engineer

  • Accounting for Derivatives
  • Hedge Accounting, IFRS9 (all from a treasury side)

Module 12: Technologies
Speaker: Patrick Verspecht / Group Treasurer

  • New Technologies
    • Blockchain, Crypto-currencies, Smart Contracts
  • Treasury Console (Bloomberg, Thomson Reuters)
  • TMS, Fintechs

Module 13: Cyber Fraud

  • Why Cyber fraud needs to be considered as a major risk
  • Identify the consequences of a cyberattack
  • Main fraud schemes
  • How to protect against fraud

Some homework might be proposed for some modules, there will be continuous control in the form of intermediary exams (under the form of QCM) and a final exam will be sanctioned by an attestation delivered by ATEL (The Luxembourg Association of Corporate Treasurers).

There might also be one or two “extra-activity”, such as a visit in a bank trading room or/and a special guest speaker addressing the cursus participants on a specific subject (still to be defined, optional events).

Target Audience

Anyone willing to acquire an in-depth knowledge in corporate treasury and wishing to exercise this knowledge in practice.

Prerequisites

  • Basic background in finance or accounting
  • For the Advanced Excel workshop, a preliminary (good) knowledge in Excel is required

Course Material

The course material can be downloaded free of charge via your portal the day before the start of the course (download the Client Portal User’s Guide here).

Certificate

At the end of the programme, the participants will receive a “Certificate of Attendance” delivered by the House of Training, and an attestation of “Exam Success Pass” delivered by ATEL.

In order to get certified, an 80% rate of attendance and a 60% average score on the examinations are required.

The participants will also receive a one-year free membership to ATEL (www.atel.lu) giving a number of advantages.

Register here

 

 

 

 

 

 

Webinar Alert: Treasury Management in the COVID19 crisis

| 26-05-2020 | Francois De Witte

On June 15th, our Expert Francois de Witte will present a Webinar in collaboration with Febelfin-Academy, regarding Treasury Management in the COVID19 Crisis. The Webinar is in Dutch

Omschrijving

Ten gevolge van de COVID19 zijn veel ondernemingen geconfronteerd met cash & liquiditeits problemen. Hoe ga je hiermee om? Welke tools heb je ter beschikking om dit te beheren? Hoe benader je de stakeholders incluis de banken voor bijkomende kredieten.

Deze opleiding heeft als doelstelling om inzicht te geven in:

  • de tools voor het cash & liquidity management en hoe ze te gebruiken;
  • hoe creëer je bijkomende financiële ademruimte: beheer van werkkapitaal – uitstel van kosten;
  • hoe benader je de banken voor uitstel van aflossingen en/of bijkomende kredieten;
  • de inschatting van de risico’s en opportuniteiten van deze nieuwe situatie;
  • het opstellen van een concreet actieplan.

Vereiste voorkennis

Advanced level: biedt praktijkgerichte toepassingen op de reeds verworven theoretische kennis van de “basic level” opleidingen (uitdieping).

Voor wie is deze opleiding bestemd?

De opleiding kan gevolgd worden door verschillende doelgroepen:

  • KMO relatiegelastigden van banken;
  • Financiëel verantwoordelijken van KMO’s en non profit organisaties;
  • Corporate Treasurers.

Programma

Inleiding: Belang van cash & liquidity management

Deel 1: Tools voor het beheer van cash & liquidity management van je onderneming:

  • Wat is mijn cash positie vandaag?
  • Cash forecast voor de komende dagen, of zelfs weken?
  • Beheer van werkkapitaal
  • Cash Burn Rate – Cash runway
  • Dagelijkse stuurgroep Cash Positie
  • Beheer van financiële risico’s

Deel 2: Tips voor het verbeteren van je cash positie:  

  • Beheer van de klantenpost
  • Beheer van de voorraden
  • Beheer van je leveranciers
  • Uitstel van bepaalde uitgaven

Deel 3: Onderhandeling van uitstel vervaldagen of nieuwe kredieten bij de banken:

  • Kredietbeoordeling door banken: aandachtspunten
  • Wat is momenteel voorzien door de overheid, Febelfin en de bank community?
  • Hoe benadert je best de banken: tips en tricks voor je kredietdossier

Deel 4: Risico’s en opportuniteiten – Actieplan:

  • Risico’s en opportuniteiten
  • Tips & Tricks
  • Actieplan

Q & A – Coaching

Pracktische Informatie

  • Duurtijd: 2u30
  • Uren: 10u – 12u30
  • Plaats: Inloggen op online platform
  • Kosten: Leden €160 / Niet-leden: €180

Schrijf je hier in voor de training

 

Online training 5 en 6 mei 2020: Beheer van wisselrisico’s

| 23-04-2020 | Francois De Witte

Online training op 5 en 6 mei 2020 van 9.00 tot 12.00 uur.

Zaken doen is onvermijdelijk verbonden met het nemen van financiële risico’s. Het komt erop aan deze op een verantwoorde wijze te beheren.

Omschrijving

Het is belangrijk om deze risico’s te identificeren en te kwantificeren (aankopen of verkopen in vreemde munten, klanten risico’s, beleggingsrisico’s, cash flow risico’s, …). U moet beslissen in welke mate deze risico’s kunnen worden vermeden, aanvaard, getransfereerd  naar derden of ingedekt worden door verzekeringen, wisselkoersinstrumenten, …. Hiervoor moet u beschikken over de nodige kennis van de juiste verzekerings- en indekkingstechnieken en het gebruik ervan begrijpen. Hoe organiseert u een performante controle, opvolging en rapportering van de risico’s. Dit programma focust dus op een goed inzicht in de diverse financiële risico’s met, de impact hiervan op uw bedrijf, de mogelijkheden om ze in te dekken, met de focus op de wisselrisico’s.

Voor wie is deze opleiding bestemd?

Deze module richt zich tot bedrijfsleiders, alsook alle financieel verantwoordelijken, treasurers, leden van het treasury team, controllers, financieel adviseurs, accountants, relatiegelastigden ondernemingen bij financiële instellingen.

Voorkennis

Financieel basisinzicht en ervaring met financiële transacties is vereist. Voelt u zich hier nog onvoldoende mee vertrouwd dan kan u voorafgaand de opleidingsmodule ‘Cash- en werkkapitaalbeheer’ volgen.

Programma

1. Financieel risico management: algemeen

  1. Definitie
  2. Identificatie, kwalificatie en kwantificatie van de risico’s
  3. Risico tijdslijn
  4. Verzekerings- en indekkingstechnieken: instrumenten
  5. Risico politiek: strategie en tactiek
  6. Risicomanagement: procedures, opvolging, controle en rapportering

2. Wisselkoersrisico’s

  1. De financiële markten – algemeen
  2. Type exposures: transactie, boekhoudkundig en economisch
  3. Natuurlijke indekkingen
  4. Interbancaire markt versus futures
  5. Instrumenten voor de indekking van de wisselrisico’s
  • FX: Spot (contante) indekking
  • Forward (termijn) indekking
  • Currency swaps
  • Valuta-futures
  • Valuta-opties
  1. Contractuele aspecten – ISDA documentatie
  2. Bancaire aspecten: risicoweging
  3. Regulering
  4. Boekhoudkundige aspecten
  5. Aanbevelingen
  6. Case study in groep

 

Schrijf je hier in voor de training

 

Seminar SAP S/4HANA – What treasurers need to know

| 21-01-2020 | by treasuryXL |

Are you dealing with the replacement of existing SAP-systems with SAP S/4Hana and its impact on treasury departments? Discover the opportunities offered by this transition and what you need to be aware of by attending the SAP S/4Hana seminar on June 25, 2020 in Amsterdam organised by Schwabe, Ley & Greiner (SLG).

The transition to SAP S/4HANA

Many companies are currently transitioning to SAP S/4HANA. Hardly any other issue is presently as hot in IT departments of SAP clients. Treasury departments are also affected by the switch of their companies’ ERP systems.

It is therefore helpful, as a treasury department, to address this issue regardless of the extent to which you have relied on SAP in the area of treasury in the past. Why? Because these changes are going to impact everyone. Irrespective of whether you use a stand-alone TMS (in this case, at least because the interfaces and data sources will change) or your processes are reflected using SAP treasury modules (in this case the impact will of course be greater since your own systems will be affected by the switch).

Many corporates are taking the opportunity offered by the switch to the new SAP version to integrate their systems to a greater extent. As such, the fundamental question of what system to use also arises. This could be an opportunity to efficiently design your treasury processes using a new or optimised system-based solution.

What key issues are covered in the seminar?

  • SAP S/4HANA – an overview of what’s new compared to the old version
  • How your future system landscape needs to be configured – which options are available and what to pay attention to
  • Understand the IT approaches relevant to the S/4HANA launch
  • What to do during the transition while selecting a new system – possible strategies
  • A quick insight into the system: SAP S/4HANA
  • A quick insight into the system: SAP Analytics Cloud (SAC)

Target Audience

Managers and personnel in the areas of treasury, cash and liquidity management, risk management, controlling, finance and accounting, payables and receivables management, IT and SAP applications.

Objectives

1. SAP S/4HANA – an overview of what’s new compared to the old version.

  • General system architecture
  • The new design – web-based interface as an alternative to the SAP GUI
  • Which new features does SAP S/4HANA offer in the area of treasury?
  • A brief explanation of the new models: SAP Cloud Platform (connection to external systems), SAP Analytics Cloud (new approach to reporting and forecasting) and SAP Leonardo (machine learning)

2. How your future system landscape needs to be configured.

  • An overview of possible scenarios
  • What if you already use SAP treasury modules and there’s a switch to S/4HANA? What’s going to change? Which functions will have to be modified? Which functions are going to be added? Which licenses will you need?
  • Integrated system v. side-by-side approach – which advantages and disadvantages are there?
  • How can your existing non-SAP TMS be integrated into an SAP landscape?
  • If you currently use a non-SAP TMS, does it make sense to fully or partially switch to using SAP treasury modules?

3. Understand the IT approaches relevant to the S/4HANA launch

  • Greenfield v. brownfield approach; on-premise v. cloud strategy
  • Why is it also important for treasurers to understand their IT strategy?
  • What do these approaches mean for treasury departments?
  • S/4HANA best practices

4. What to do during the transition while selecting a new system – possible strategies

  • Treasury now needs a new system-based solution but it’s going to take time to implement the new S/4HANA system landscape
  • Possible interim solutions
  • Can and should your treasury department be the test bed for S /4HANA?
  • When is it better to wait?

5. A quick insight into the system: SAP S/4HANA

  • Navigation
  • New look and feel
  • Insight into several important apps

6. A quick insight into the system: SAP Analytics Cloud (SAC)

  • Brief overview
  • Comprehensive treasury reporting in real-time
  • SAC options in cash flow forecasting

Participation

The participation fee for the seminar is EUR 1,500.00 (ex VAT). This includes documentation, lunch and beverages.

Register with 20% discount via treasuryXL

We are delighted to give you the opportunity to register for the seminar with a 20% discount. Please be aware that discounted places are limited. The seminar allows a maximum of 15 attendees. We recommend to sign up early to secure your spot. You can use code treasuryXL20 at check out to receive your discount.

You can register here.

Date, Time & Location

Postponed until further notice (date unknown due to COVID-19)

10:00 – 18:00

Hotel NH Amsterdam Schiphol Airport
Kruisweg 495,  2132 NA Amsterdam

Lecturer

Florian Maak

Manager at Schwabe, Ley & Greiner

 

 

 

 

About Schwabe, Ley & Greiner

Schwabe, Ley & Greiner (SLG) has been in existence for more than 31 years and is the leading consultancy firm in the area of finance and treasury management. During these years, they have carried out more than 5,000 projects mainly in Germany, Austria and Switzerland for over 2,000 large and medium-sized clients in all sectors and on behalf of these clients for their subsidiaries in almost all Western European countries and overseas.

 

Visit website

Exclusive interview with FX specialist Arnoud Doornbos about FX Risk Management

6-1-2020 | by Kendra Keydeniers | Arnoud Doornbos | Ilfa Group

On January 23rd, 2020 Ilfa and Global Reach are organising a masterclass on foreign exchange risk management. FX experts Michael Jansen of Global Reach and Arnoud Doornbos of Ilfa will guide you through the design of a FX risk management program and demonstrate which opportunities a program like this has for your organisation.

Go to event and register for the masterclass. Places are limited so we recommend to secure your spot today.

treasuryXL is delighted to share our exclusive interview with one of the organizers and FX specialist, Arnoud Doornbos of Ilfa.

What is Foreign Exchange Risk Management?

Foreign exchange risk management strategy or FX hedging strategy are terms used to define all the measures devised by businesses or investors to protect the value of their cash flows, assets or liabilities from adverse fluctuations of the exchange rate.

Hedging is used by companies to manage their currency exposure. If a company needs to buy or sell one currency for another, they are exposed to fluctuations in the foreign exchange market that could affect their costs (or revenues) and ultimately their profit.

By booking a hedge, companies protect an exchange rate against a specified sum of currency for a desired timescale, providing companies with certainty.

There are a range of products that can be used for hedging, depending on the companies objective and the exposure they are trying to protect.

Typically, a company would hedge their foreign exchange (FX) exposure to protect its profit margin from market volatility. Hedging is most common in companies that have an exposure to a secondary currency and have fixed prices on their products or services.

What are the types of Foreign Exchange risk?

Foreign Exchange exposure is classified into three types:

  • Transaction exposure deals with actual foreign currency transaction.
  • Translation exposure deals with the accounting representation
  • Economic exposure deals with little macro level exposure which may be true for the whole industry rather than just the firm under concern.

Currency risks can have various effects on a company, whether it operates domestically or internationally. Transaction and economic risks affect a company’s cash flows, while transaction risk represents the future and known cash flows. Economic risk represents the future (but unknown) cash flows. Translation risk has no cash flow effect, although it could be transformed into transaction risk or economic risk if the company were to realize the value of its foreign currency assets or liabilities. Risk can be tricky to understand, but by breaking it up into these categories, it is easier to see how that risk affects a company’s balance sheet.

What are the most common critical Foreign Exchange risk problems that companies make?

Businesses that operate internationally or domestically must deal with various risks when trading in currencies other than their home currency.

Companies typically generate capital by borrowing debt or issuing equity and then use this to invest in assets and try to generate a return on the investment. The investment might be in assets overseas and financed in foreign currencies, or the company’s products might be sold to customers overseas who pay in their local currencies.

Domestic companies that sell only to domestic customers might still face currency risk because the raw materials they buy are priced in a foreign currency. Companies that do business in just their home currency can still face currency risk if their competitors operate in a different home currency.

What critical elements of Foreign Exchange risk are often overlooked?

One of the critical elements of the currency risk that are overlooked is the correct identification of the type of FX risk. A distinction must be made between certain and uncertain cash flows in FX. With certain cash flows, the company has to deal with a linear risk that must be covered with a linear financial hedging instrument, an FX forward. With an uncertain cash flow, risk profile is not linear and it is dangerous to use FX Forwards to hedge. FX Options are better financial products to hedge.

If the company does not include FX Options in its Treasury policy, the second best option is to use FX forwards for, for example, 50% of the principal sum of the underlying risk.

Anticipated and committed exposure cycle

How can you measure Foreign Exchange risk and the different types?

There are many ways to measure foreign exchange risk, ranging from simple to quite complex. Sophisticated measures such as ‘value at risk’ may be mathematically complex and require significant computing power.

Register of foreign currency exposures

A very simple method is to maintain a register of exposures and their associated foreign exchange hedges. Basically the details of each hedge are recorded against its relevant exposure. This type of approach may also assist with compliance with accounting standards.

Table of projected foreign currency cashflows

Where the business both pays and receives foreign currency, it will be necessary to measure the net surplus or deficit for each currency. This can be done by projecting foreign currency cash flows. This not only indicates whether the business has a surplus or is short of a particular currency, but also the timing of currency flows.

To properly determine the FX risk, account must be taken of the differences in sensitivity of the incoming and outgoing FX cash flows.

Sensitivity analysis

A further extension of the previous measure is to undertake sensitivity analysis to measure the potential impact on the business of an adverse movement in exchange rates. This may be done by choosing arbitrary movements in exchange rates or by basing exchange rate movements on past history.

Value at risk

Some businesses, particularly financial institutions, use a probability approach when undertaking sensitivity analysis. This is known as ‘value at risk’. While it is useful to know the potential impact of a given change in exchange rates (say a USD one cent movement) the question will arise: how often does this happen? Accordingly, we can do a sensitivity analysis using past price history and apply it to the current position. Then, given the business’s current position, and based on exchange rates observed over the last two years, it can be 99 per cent confident that it will not lose more than a certain amount, given a certain movement in exchange rates. In effect, the business has used actual rate history to model the potential impact of exchange rate movements on its foreign currency exposures.

What steps do you need to make to create a Foreign Exchange strategy?

Transaction risk is often hedged tactically (selectively) or strategically to preserve cash flows and earnings, depending on the companies treasury view on the future movements of the currencies involved. Tactical hedging is used by most firms to hedge their transaction currency risk relating to short-term receivable and payable transactions, while strategic hedging is used for longer-period transactions.

Translation, or balance sheet, risk is hedged very infrequently and non-systematically, often to avoid the impact of possible abrupt currency shocks on net assets. This risk involves mainly long-term foreign exposures, such as the firm’s valuation of subsidiaries, its debt structure and international investments. However, the long-term nature of these items and the fact that currency translation affects the balance sheet rather than the income statement of a company, make hedging of the translation risk less of a priority for management. For the translation of currency risk of a subsidiary’s value, it is standard practice to hedge the net balance sheet exposures, i.e., the net assets (gross assets less liabilities) of the subsidiary that might be affected by an adverse exchange rate move.

Translation risk is for a large part a Finance issue. Within the framework of hedging the exchange rate risk in a consolidated balance sheet, the issue of hedging a companies debt profile is also of paramount importance.  The currency and maturity composition of a firm’s debt determines the susceptibility of its net equity and earnings to exchange rate changes. To reduce the impact of exchange rates on the volatility of earnings, the company may use an optimization model to devise an optimal set of hedging strategies to manage its currency risk.

What is, in your perception, the biggest benefit of a working Foreign Exchange strategy?

Foreign exchange risk management is thus fundamental but it is often considered to be too complex, expensive and time-consuming. Nonetheless, with a simple, tailored monitoring activity, it can neutralise currency fluctuations and bring the following benefits: Securing marketing margins. Optimising cash-flow estimates.

What is your best advise for companies dealing with Foreign Exchange risk?

This Forex market is open 24 hours a day, 5 days a week and with a daily volume of $ 6.6 trillion the most liquid and largest financial market in the world. For most companies, FX risks are non-core risks The objective of most companies is not to be an FX trader. By correctly identifying and quantifying the FX risks and then neutralizing them with the correct financial FX hedging instruments, companies will have little or no trouble with currency fluctuations on the financial FX markets. The implementation of the correct procedures forms the basis of good FX risk management and will make opportunistic behavior of management disappear.

 

Arnoud Doornbos

Associate Partner Ilfa

FX specialist

 

 

 

 

 

Join ILFA and Global Reach for a Foreign Exchange Masterclass on 23rd January 2020

16-12-2019 | by Kendra Keydeniers | Ilfa Group

Learn about the different FX risks, how to mitigate these, and how the use of tools might help.

About this Event

Ilfa and Global Reach are organising a masterclass on foreign exchange risk management. FX experts Michael Jansen of Global Reach and Arnoud Doornbos of Ilfa will guide you through the design of a FX risk management program and demonstrate which opportunities a program like this has for your organisation.

During the masterclass they will focus on:

  • Creating a foreign exchange strategy
  • Analysing your business’ operating cycle to identify FX risks
  • Calculating your business’ exposure to FX risks
  • Managing your foreign exchange exposure via hedging
  • Specialist FX tools

Program

16:00 Walk in with coffee and thee

16:15 Introductions Ilfa and Global Reach

16:20 Part 1: Educating FX risks

17:30 Break

17:45 Part 2: Ilfa’s Treasury as a Service and Global Reach Intelligence

18:15 Drinks and snacks

19:00 End

Register

You can register for the masterclass until the 8th of January 2020.

If you have questions, please do not hesitate to get in touch with Michael Jansen via mjansen@globalreachgroup.com, +31 6 11 35 07 60 or Arnoud Doornbos via arnoud@ilfa.nl, +31 6 83 94 16 99.

About Ilfa

Ilfa helps businesses and social organisations to obtain funding and to manage their treasury. Since 1995, they are specialised in attracting bank and/or alternative financing, managing liquidity and managing financial risks. Ilfa’s core values are innovative, professional, driven and transparent. Since 2013, ILFA Group is in possession of a permit as an investment firm in accordance with the Financial Supervision Act.

About Global Reach

Global Reach is a leading provider of corporate foreign exchange, offering insight and guidance to help clients in managing their currency requirements more effectively. Our proprietary technology is at the core of the multi-faceted services we provide our clients. Whether your business requires an one-off transaction or a complex, multi-currency hedging strategy, protecting your bottom line is paramount for us. Global Reach is proud winner of Feefo’s Gold Trusted Service Award.

 

 

 

 

Understand Banking Asset & Liability Management

| 23-8-2019 | treasuryXL | Financial Training Hub

The management of Assets & Liabilities, known as ALM, is key to potential success of banks. The ALM strategy is set by the Board of Directors that has to decide about different financial activities in connection with two risks: interest rate and liquidity risk. This interactive course introduces you to Asset & Liability Management and the world of finance. Several workshops are included. This training is available for English and Dutch groups.

Key Takeaways

This training will learn you:

1. Yield curve impact on Asset & Liability Management
2. Gaps as basis to determine ALM exposure
3. Duration to manage the ALM mismatch
4. The use of interest rate swaps to change equity at risk
5. Basel regulation impact on capital management
6. How the new liquidity ratio’s will affect ALM

Who can do this course

The course is suitable for people that (want to) work in the financial sector. It is not necessary for participants to have specialized finance experience or education. (Duration: 1 or 2 days depending on participants experience)

Program

This training is a mix of presentations, discussions and workshops.
Topic overview:

  • Introduction of assets & liabilities of financial institutions
  • Bank risks in general
  • Specific bank risks
    − Interest rate margin and risk
    − Liquidity risk: why?
  • Reading the yield curve
    − Short and long term interest rates
    − Forward rates
  • Gap analysis to measure ALM exposures
  • (Modified) Duration for interest risk management
    − Money Duration
    − Basis Point Value
    − Equity at risk and supervisor minimum requirements
    − Interest rate swaps and ALM
  • Basel Supervision on risk management
  • Capital requirements in general
  • Liquidity ratio’s workshop: NSFR and LCR

MORE INFO HERE

 

Blockchain een hype? Training voor Financials

| 01-08-2019 | by treasuryXL | Kendra Keydeniers

Training: Blockchain voor Financials

Is blockchain een hype of gaat het de wereld echt drastisch veranderen? Wat is de gigantische impact van blockchain op de toekomst van uw financiële functie? Ontdek in twee dagen wat blockchain is, hoe u het toepast en hoe u ermee begint in uw eigen functie, organisatie of bij uw klanten

Uniek: Ontvang waardevol advies op uw eigen Blockchain Case

Breng uw eigen blockchain-use case in en deze wordt al tijdens de training besproken en beoordeeld op haalbaarheid. Ontvang bruikbare tips en adviezen waarmee u direct na de training verder kunt.

In deze training onthullen blockchain-experts Paul Bessems en Jeroen Perquin de nieuwe wereld van blockchain en geven u daarbij vele aanknopingspunten om direct met blockchain aan de slag te gaan binnen uw organisatie of netwerk. Paul en Jeroen illustreren de theorie met vele voorbeelden uit hun eigen praktijk waardoor de potentie van blockchain direct duidelijk wordt. Schrijf direct in.

Inclusief 2 E-learning modules

Bij dit programma ontvangt u 2 E-learning modules die uitstekend aansluiten op uw training. Haal alles uit Blockchain voor Financials en behaal 4 extra PE Uren.

Online modules Blockchain voor Financials:

  • Wat is Blockchain?
  • Blockchain in de praktijk
 Periode 2 dagen
 Investering. 1895 euro ( excl. BTW )
 Certificaat
14 PE-uren klassikaal + 4 PE-uren E-learning
 Datum / Locatie
17 en 18 december 2019 
Hotel Mercure Amsterdam Airport

27 en 28 mei 2020 
Randstad

22 en 23 september 2020 
Randstad

Uw voordelen
  • Nieuw | Wat is blockchain en waar gebruikt u het voor?
  • Disruptief | Wat zijn de gevolgen voor uw functie/organisatie/netwerk?
  • Begin! | Hoe start en (bege)leidt u een blockchainproject?
  • Design | Ontwerpoefening met de Harvard Case Methode
  • Praktijkgericht | Ga naar huis met uw eigen aangepaste use case
Onderwerpen
  • Wat is Blockchain?
  • Het verhaal achter Bitcoin
  • Blockchain in de praktijk
  • Data Economics
  • Toekomst van Blockchain
Boeken en materialen

Alle deelnemers ontvangen:

  • Het boek ‘Blockchain Organiseren voor managers: een andere kijk op managementinnovatie’ van Paul Bessems en Walter Bril.
  • De mogelijkheid tegen gereduceerd tarief community member te worden met toegang tot blockchain experts en het Kenniscentrum Blockchain Organiseren met artikelen, scripties, onderzoeken etc.
Voor wie?

Dit programma is specifiek ontwikkeld voor financials zoals controllers, financieel managers, financieel adviseurs en financieel directeuren die betrokken zijn bij (management) innovaties zoals blockchain en digitalisering.