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Agenda

Download the full Global Treasury Americas Miami event agenda below in English and Spanish.

Downloadable agenda        Download in Spanish

Approved for up to 13.8 FP&A and up to 17.0 CTP/CCM recertification credits by the Association for Financial Professionals.

Examine the factors shaping the US economy and how to respond to risk and uncertainty whether by streamlining operations, new cash management strategies or utilising technology from AI to APIs.

Learn how other treasurers are raising capital and managing their cash flows in the current economic environment.

Gain practical guidance on how to manage operational challenges in the region. Topics include FX, cross border payments, near-shoring business operations and supplier and trade financing.

Moderated by:
  • Daniel Blumen

    Partner,

    Treasury Alliance Group

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8:00am -8:55am

Registration and breakfast

    9:00am -9:10am

    Welcome address

    • Emma West

      Managing director,

      EuroFinance and CPI

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      9:10am -9:50am

      Economic factors shaping the US economy in 2024

      The U.S. economy has been on a positive recovery path since the waning of the pandemic, with inflation more than halving from a high of 9 percent in 2022 to 3 percent today. Yet the economy is still vulnerable to a downturn and recession, as further Federal Reserve rate rises to combat underlying inflationary pressures might further dampen economic activity as borrowing costs rise, with growth projected at 1.9 percent for 2024. Slowing global growth might drag on US exports leading to a potential slowing of domestic growth, and the ongoing trade war with China could also weigh negatively on the economy. On the positive side, low unemployment rates, wage rises and strong consumer spending, all point to steady growth in the year ahead. As the economy stabilises into 2024, increased business confidence and investment, will mean that treasury is likely to support new business growth as companies move through the new economic cycle. The outcome of the presidential election later in 2024 might impact economic policy, although unlikely to feed negatively into short term financial forecasts. In this session, we discuss the macroeconomic factors that might impact the economy, business forecasts in the year ahead and strategies to manage risk in both upside and downside scenarios.

      • David Andolfatto

        Professor and chair, department of Economics, MHBS,

        University of Miami

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      Moderated by:
      • Robert Novaria

        Senior EuroFinance tutor and partner,

        Treasury Alliance Group

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      9:50am -10:30am

      Risk, uncertainty and predictions for 2024/2025

      The famous statistical adage that the only certainty is uncertainty holds true in corporate finance and treasury risk today. From the uncertainties of geopolitics and global trade and supply disruptions to domestic uncertainties in interest rates, inflation and a potential recession, uncertainties in the financial system and foreign exchange, rapid evolution of finance technologies, cyber-attacks, fraud and AI, and how climate change will alter markets. In the face of all these uncertainties and risks come great opportunities for corporate finance and treasurers to differentiate themselves by focusing on what matters most – cash flows, forecasts, liquidity planning and working capital provisions. So how do leading finance executives develop risk mitigation strategies and monitor in real time? What technologies can be deployed to create risk warning systems and how is data collected and analyzed to proactively identify and develop mitigating actions? In this session finance executives from leading global companies discuss their risk outlook and how they work with bank partners to make the uncertain a little more certain.

      • Mack Makode

        VP, treasurer,

        Under Armour

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      • Todd Yoder

        EVP and chief financial officer,

        S&B USA

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      • Mandana Sadigh

        SVP and treasurer,

        Mattel Inc.

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      Moderated by:
      • Robert Novaria

        Senior EuroFinance tutor and partner,

        Treasury Alliance Group

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      10:30am -11:20am

      Networking break

        11:20am -12:00pm

        Cash management and forecasting strategies: pooling and intercompany netting in the region

        The extent to which treasurers can successfully manage and execute intercompany transactions between different entities within the same corporate group, can make a positive difference in supporting business growth. A core strategy in central cash management across treasury operations, treasurer’s are focussed on the efficient execution of cash pooling and intercompany netting, to reduce cash flow volatility by offsetting payments between different entities. Netting, including payments, loans, and transfers of cash, can also reduce transactions and costs, improve cash visibility and enhance liquidity by providing cash where it is needed, improving overall cash flow management and forecasting. Yet across the group, working in multiple jurisdictions in the region, legal and regulatory compliance issues can be complex and potentially introduce new risks. In this session, treasurers discuss their intercompany pooling and netting strategies in the region, especially in managing ‘trapped’ pools of liquidity, and the tools that improve efficiency in their execution. Treasurers will also reflect on how their cash management strategies impact cash visibility and the tools that help produce strategic cash forecasting.

        • Connie Miner

          SVP, global head of treasury,

          News Corp

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        • Tamara Saront-Eisner

          Treasurer and vice president, mergers and acquisitions, Americas Hub,

          Air Liquide

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        • Vincent Joseph

          Assistant treasurer – capital and liquidity,
          TechnipFMC

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        Moderated by:
        • Daniel Blumen

          Partner,

          Treasury Alliance Group

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        12:00pm -1:00pm

        Roundtables

        Interactive, moderated roundtable discussions, providing the opportunity to share experiences and learn from speakers and peers that share your priorities.

        • CASH: Cash management and forecasting practice and trends in treasury in the region
        • FX: FX, hedging and risk in US, Lat Am and international markets
        • PAYMENTS: Improving payments and receivables processes and practice in domestic and cross border transactions
        • OPS: Operational challenges for treasury, including managing centralised and regionalised functions and teams across the region
        • TECH: Technology for treasury – the promise and challenges of AI, APIs and automation and their current applications
        • LIQUIDITY: Financing and liquidity challenges including working capital, RCF, bonds, loans, sustainable finance and money markets
        • MARKETS: Economic outlook and risk in regional markets, including macro and fiscal environments, inflation, rates and growth trends 
        • COMPLIANCE: Treasury compliance, tax and KYC and ESG requirements in US and regional markets for companies and subsidiaries
        • Tai Carr-Fraser

          Senior director, assistant treasurer,
          Capri Holdings Limited

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        • Albert Pla Arasa

          Global head of eFX sales,

          BBVA

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        • Arijit Dasgupta

          Assistant treasurer

          Viatris 

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        • Daniel Fleming

          Former assistant treasurer,

          Target

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        • Bruce Edlund

          Group director, assistant treasurer,

          Cloud Software Group

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        • Mike Sheehan

          Director, international cash management sales,

          BNP Paribas

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          1:00pm -2:00pm

          Lunch

            2:00pm -2:40pm

            Latin America: growth in 2024

            Whilst the region will underperform a resilient US economy in 2024, variable factors shaping the economies of Latin America, especially Mexico, Brazil, and Argentina, will play out in the year ahead. Both positive and negative economic forces at play in Latin America will determine growth in 2024, forecast at 2% by the IMF. The Fund forecasts the major economies of Mexico and Brazil will grow by 2.4% and 2.2%, with Argentina declining by 2.8%. As global growth slows in 2024, Latin America will likely see a decline in exports and commodity prices, whilst ongoing political instability might lead to some economic uncertainty and discourage investment in specific countries. On the positive side, resilient domestic demand as incomes rise. Mexico will benefit from US nearshoring, and the US-Mexico-Canada Agreement (USMCA) is likely to boost trade and investment in the country. Any decline in demand for energy or commodities will impact Mexico and Brazil, whilst Argentina is grappling with still high inflation. For treasurers, whilst the overall growth outlook is positive, risks in foreign exchange and commodity markets will persist. In this session, we evaluate the growth scenarios in the region and look at regional strategies to mitigate risk. With the US Fed now back to keeping rates “higher for longer” what are the implications for interest rates and currencies in Latin America?

            • Robert Wood

              Principal economist, financial risk manager Latin America and the Caribbean,

              Economist Intelligence Unit

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              2:00pm -2:40pm

              Evolving the next generation in-house bank for treasury

              The In-house bank has evolved over time as corporate treasurers have developed more efficient ways to manage cash and liquidity operations. As a centralised hub for treasury operations, the in-house bank has gained support as a means of optimising treasury flows. Yet the technology build and development of in-house banking operations and infrastructure involves resources and know-how that includes partnerships with IT, tech, legal, tax and financial insitutions. Here our panel of treasurers will describe how they built the business case for their in-house bank operations, the services and functions they decided to include, the technology build required, how banking partners helped and the measurable ROI.

              • Mari Jõgila

                Director treasury operations,

                Circle K Europe

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              • Tim Kolenda

                Regional treasurer, North America,

                AbbVie

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              • Amy Goldstein

                Managing director, international cash management sales,

                BNP Paribas

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                2:00pm -5:20pm

                Event breaks into 2 tracks: Core and LatAm

                  2:40pm -3:20pm

                  Hedging foreign exchange risk in Latin America

                  Latin American major currencies, including the Mexican peso, Chilean peso and Brazilian real have strengthened against the dollar in recent months, as inflation has fallen in the US from last year’s highs, enabling an uplift in trade, export and investment in the region. Yet other currencies, such as the Argentinian peso and Colombian peso have weakened against the dollar, creating some volatility in these countries. With high levels of debt, ongoing political instability and price volatility in commodity markets, risks in Latin American currencies remain in foreign exchange trading for corporate treasurers. Yet forward contracts, or currency swaps, to exchange currency at a specified price in the future, can be expensive and complex. Hedging strategies need to be evaluated against the size of the foreign exchange exposure, the volatility of the currencies exchanged, the risk tolerance of the business and the capital available to commit to the hedging program. Automated dynamic hedging is also an option for companies dealing with large flows, or do not have the manual capacity to execute trades daily. FX automation might improve efficiencies, and even reduce risks, but requires treasury monitoring and interventions and might not be suitable for all trading. In this session regional treasurers discuss strategies around intra regional FX trading in Latin American local currencies as well as dollar trading, risk tolerances and approach to hedging, and where and when automation helps.

                  • Pamela Potrie

                    Latam finance senior director,

                    PedidosYa / Delivery Hero

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                  • Ciaran Fegan

                    Senior director, FX risk management and strategic projects,

                    Viatris

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                  • Juan Lezica

                    Southern cone treasury leader,

                    Corteva Agriscience

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                    2:40pm -3:20pm

                    Cash investments: money markets, yields and reform - the short and medium outlook

                    With rising rates, cash investments in money market funds and short term bonds and notes are yielding higher returns than in the pre-pandemic period. Money market funds, which experienced high outflows in March 2020, requiring government intervention and support to stabilise markets, are now enjoying strong performance, averaging 4.5 percent. Whilst the Security and Exchange Commission’s introduction of liquidity fees at 5% redemptions of net assets are designed to stem large fund outflows in future crises. In short term treasury markets, an uplift in yield to near 5%, with long date bonds closer to 4%, points to an inverted yield curve and a potential recession red flag. For corporate treasurers in the investment arena, the short term outlook is positive, yet the process of making effective, risk-based decisions when investing cash surpluses and developing strategies to maximise returns in the longer term remain uncertain. In this session, treasurers share their outlook and risk strategies in cash investments.

                    • Samuel Vallotton

                      VP, treasury

                      Salesforce

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                    • Dan LaRocco

                      Head of US liquidity,

                      Northern Trust Asset Management

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                    • Doug Tropp

                      SVP and treasurer,

                      Booking Holdings Inc.

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                    Moderated by:
                    • Robert Novaria