X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Few companies come close to Visa in terms of the number of daily foreign exchange transactions, yet the company struggled with a hidebound spreadsheet-based system to assess the effectiveness of its hedging strategy.

Visa’s credit cards are used in more than 200 countries, and its volume of transactions reached $4.4 trillion in 2009. But its processes for managing the related FX risks were antiquated. “We were beset by a historically and manually intensive FAS 133 hedge accounting process that was partially outsourced to a third-party vendor and globally distributed, with the accounting work done in four different places around the world,” says Alan Weindorf, Visa’s senior business leader for treasury. “It was very cumbersome, to say the least.” He adds that from his perspective as the person in charge of FX risk management, “it was also untenable.”

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

Already have an account?

 

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.