From the November 2011 issue of Treasury & Risk magazine

Here We Are Again

It’s been a year of striving and surviving since Treasury & Risk last recognized excellence and innovation in corporate treasury and finance with its Alexander Hamilton Best Practices Awards.

Coping with the unexpected as political upheaval swept through the Mideast quickly segued into confronting the unthinkable when triple disasters of tsunami, earthquake and nuclear meltdown devastated Japan. Political risk, supply chain risk and contingency planning joined the conversation dominated by liquidity management and cash forecasting.

Spring brought a new wave of criminal hacking as Lockheed Martin, Sony and EMC Corp.’s security-systems unit RSA were hit. In May, T&R reported a glimmer of economic confidence, which bloomed into cautious optimism in June only to wilt in August when fear of a double-dip recession set in.

September felt like 2008 all over again as volatility roared back amid an endless loop of politicians’ inability to staunch the European debt crisis or deal with the U.S. deficit and high unemployment rate. The end of October finds the two-dip specter fading as economic forecasts that were revised downward last month are recast slightly upward. Meanwhile, new technology has picked up the pace of work as mobile apps and the cloud go mainstream with social media following close behind.

Judging by the record number of entries in this year’s AHA competition, treasury is ahead of the curve. The judges once again noted the sophistication, complexity, creativity and adaptability of the projects. Thank you to our judges: Mike Gallanis, partner at Treasury Strategies; Jean-Francois Heitz, former treasurer and deputy CFO at Microsoft; Marie Hollein, CEO of Financial Executives International; Craig Jeffery, managing director of Strategic Treasurer; and Chuck Kane, former CFO at several tech companies. And thanks to all for entering.

 

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