FMO: prepared for expectations and estimates

International Financial Reporting Standard 9 (IFRS 9) was announced in 2014 by the International Accounting Standards Board (IASB) as the successor to IAS 39. As of 1 January 2018, this comes into mandatory effect for financial and non-financial organizations. According to Paul Buijze, director of finance and mid-office at FMO, the Dutch development bank, IFRS 9 impacts “almost all processes and systems.” So how is this atypical Dutch bank preparing itself for the new IFRS 9 regulation?

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The hybrid role of Treasury at Boskalis

As a maritime multinational, Boskalis is involved in large scale projects all over the world. Due to the complexity of these projects, the Treasury department has a strategic role within the company and is a role model for other multinationals.

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The additional insights of stress scenarios

Delta Lloyd Bank asked Zanders to build a stress test model

In order to assess their risk management practices, the Dutch Central Bank (DNB) requires all banks to complete an annual Supervisory Review and Evaluation Process (SREP), including capital and liquidity management self-assessments. To calculate the effect of specific stress test scenarios on the balance sheet and profitability, Delta Lloyd Bank asked Zanders to build a stress test model.

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How BAT turned virtual receivables into reality

Following a rigorous treasury transformation and global SAP implementation, British American Tobacco embarked on a project to further streamline its cash management structure and processes. This included introducing a ‘receivables on behalf of’ structure optimized with virtual accounts.

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IUCN’s new cash management journey

In 2014 the International Union for Conservation of Nature (IUCN) launched their Global Cash Management Project in order to improve cash management policies and processes throughout the organization. IUCN chose Zanders as their trusted advisor to support them on the journey.

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