29 Treasury Symposium thSan Francisco

Presented By: San Francisco Treasury Management Association www.sftma.org Silicon Valley Association for Financial Professionals www.svafp.org

Program:Sponsors & Volunteers

Session Descriptions & Speaker Biographies

Schedule of Events

Friday, May 18, 2018 • The Park Central San Franciscowww.sftreasurysymposium.org

San FranciscoTreasury Symposium 29th

SFTS 2018 Program master.indd 1 5/2/18 6:05 PM

San Francisco Treasury Symposium ~ May 18, 2018

RegistRation & Continental BReakfast 7:30 aM - 8:20 aM

Morning KEYnoTE 8:20 aM – 9:20 aMTreasurer on Speed Dial™: How to Cultivate Trust & Wield influence… Beyond Your imagination™

Molly sargent President and Ceo, Prolmpress

Delivering the goods on consistency, compliance, innovation and efficiency is already a daunting task for Treasury Professionals even before considering that the decisions and resources for such progress often require the buy-in or approval of others. The effective-ness of Treasury Professionals, therefore, to help guide key policies and procedures depends upon the ability to collaboratively consult with internal stakeholders, to garner their trust, and to influence their thinking, strategy, commitments and actions.

In this keynote, Treasurer on Speed Dial™: How to Cultivate Trust & Wield Influence… Beyond Your Imagination™, we’ll investigate what trust looks like, how to build it, and why a context of trust significantly increases the influence and success a Treasury Professional can enjoy as a key resource and leader to the business.

Since 1985, Molly Sargent has trained and coached thousands of executives in best practices for collaborative conversations, coaching, presenting, negotiating and professional image and brand. In her role as executive coach Molly provides corporations with employee training, strategic consulting and project management services. More recently her work includes skills for integrating mindfulness in business—playfully referred to as “Spinach in the Cookies”—these practical skills are an outgrowth of Molly’s personal commitment to the practice of consciousness. Molly earned her Bachelor’s degree and a teaching certificate from Penn State University, and spent two years teaching at the Center for English as a Second Language in France. She

Today’s Symposium is approved for up to

8 fP&a recertification credits and up to

8 CtP/CCM recertification credits by the Association for

Financial Professionals at the rate of one credit for each

50 minutes of attendance.

has earned numerous Certifications and Master Certifica-tions in training and performance/executive coaching. A key specialty is organizational culture transformation — aligning behavior with corporate strategy and realizing better business results. She has worked with Fortune 500 companies, including Aetna, American Express, AT&T, Goldman Sachs, J.P. Morgan, Master-Card and Prudential.

San FranciscoTreasury Symposium 29th

We extend a special thanks to our sponsors for their generous support of this year’s event:

Bank of america Merrill lynch

Citi

Clearwater analytics

goldman sachs asset Management

J.P. Morgan

MUfg Union Bank, n.a.

northern trust asset Management

PnC Bank

state street global advisors

tesorio

Wells fargo Bank

Through the commitment of time and effort of our volunteers, the Symposium becomes a reality each year. The following

are this year’s volunteers to whom we are extremely grateful for their contributions:

Wes Blair, PNC Bank

Jeanne Castro Schmidt, Treasury Management Solutions

Chris Ginieczki, Nvidia Corporation

Tina Kobetsky, DWS

Debra Haney, Citi

Helen Kane, Hedge Trackers, LLC

Jim Lindsay, Treasury Consultant

Que Nguyen, FitBit, Inc.

Julia Sadler, Goldman Sachs Asset Management

Jeff Scribner, State Street Global Advisors

Sonia Shah, Juniper Networks, Inc.

Lori Snow, Stanford University

Sue-Ellen Speight, INTL FCStone Financial

Fred Steele, Financial Consultant

Coleen Sullivan, MUFG Union Bank, N.A.

Candace Wenzel, Citi

Michael Young, Juniper Networks, Inc.

SFTS 2018 Program master.indd 2-3 5/2/18 6:05 PM


the san francisco treasury symposium is an educational forum for corporate treasury professionals. We strive to provide the most relevant and informative sessions for our at-tendees. We hope you enjoy the conference.

sftreasurysymposium.org

session one 9:40 aM-10:40 aMsession 1a

Capitalizing on Faster Payments and Technology: Finding Success in the Hype

theresa Clements, senior Vice President, faster Payments Product Management, treasury, Merchant & Payment solutions, Wells fargo Bank

John Christensen, Vice President treasury, lendingClub

The hype around new technology and the movement toward “faster” is at a fever pitch, but how do you determine what is real and what will make a difference to your company’s success. Deciphering the hype to find a strategic path is key. What are the faster payment options available in the market today? Investigate where up-and-coming payment methods and technologies are headed.

Theresa Clements is a Senior Vice President in the Treasury Management Product Management Team for Wells Fargo Bank. Theresa manages the faster payments product team, including Push to Card, B2P via Zelle and Real-Time Payments.

John Christensen has over 20 years’ experience in Finance and Treasury with both technology and financial services companies. John currently has spent the last two years at LendingClub leading payment strategy, capital markets and bank relations. Prior to that, John spent 8 years at PayPal and eBay where he was Assistant Treasurer and managed PayPal cash management and supported all company M&A including the integration of Braintree and Venmo into the company. John also spent 12 years at Providian Financial in a variety of Finance roles.

session 1B

Elevating the Compliance Conversation with the CFo— Focus on ErM

loren Crannell, senior Manager of finance, symantec Corporation

Historically, Treasury has been governed by policy and procedures to facilitate governance. In today’s world of risks, including hacking, phishing, and cyber extortion, the nature of risks faced by Treasury can lead to large losses. Elevating the responsibility of the Treasury team to be an important and required part of a company’s enterprise risk management (ERM) program is invaluable. Treasury is responsible for a majority of the balance sheet and deserves a dedicated seat at enterprise risk management conversations.

This session will discuss scenarios faced by Treasury and provide advice on starting the conversation of ERM participation in the corporate environment.

Loren Crannell has been a Treasury professional for over 20 years for many large multinational companies. In the past 9 years he has also been responsible for managing global risk and insurance in addition to his background in FX, Investments, and Treasury Operations. Recently at Symantec, Loren began the conversation of developing an ERM program and is involved with partnering with Internal Audit, Global Security, Treasury, and the Legal teams to understand and mitigate global risks. Loren now presents an annual risk update to the Audit Committee which is an illustration of how important this topic is to Symantec.

session 1C

Six investment Themes Driving the next 5 Years

Daniel Phillips, Cfa, Director, asset allocation strategy, northern trust asset Management

Gain actionable portfolio insights into the valuation super-structure and entrenched growth environment driving risk and return expectations in the coming years. This deep dive into portfolio construction will illustrate a modern approach to implementing a strategic outlook by: utilizing tactical adjust-ments, employing targeted risk exposures, and minimizing unintentional risks to help deliver better outcomes.

Daniel J. Phillips, CFA, is Director of Asset Allocation Strategy at Northern Trust. He is also an Investment Policy Committee Member and Portfolio Manager for Northern Trust multi-asset class products and strategies, including the Global Tactical Asset Allocation Fund.

As a Portfolio Manager, Daniel is responsible for the management of Northern Trust multi-asset class strategies. Daniel monitors the asset allocation framework to ensure the allocations are aligned with the firm’s evolving investment views and changing market and economic conditions.

Daniel received his BBA degree in finance and economics from the University of Iowa and his MBA degree in finance, economics, and international business from the University of Chicago. He is an active CFA® charterholder.

session 1D

Automation, robotics and Ai for your Treasury organization

Ranjana Clark, Head of transaction Banking ameri-cas and Bay area President, MUfg Union Bank, n.a.

David kane, Partner, kPMg adviory

stephen lamar, Director, kPMg advisory

Over the last three years, artificial intelligence and its place in the workforce has quickly evolved from a hypothetical possibility to a practical priority for many organizations. In this talk, we’ll discuss how AI, including simpler robotic process automation efforts and more complex machine learning transformations, are quickly becoming popular — and powerful – methods for enterprise transformation. More importantly, we will review how these tools are not just being used for cost reduction but also improvements in employee and customer satisfaction, enhanced risk controls and profitability improvement.

Ranjana Clark is a global banking leader with more than 25 years of executive experience and deep knowledge of the financial services industry. She is Head of Transaction Banking for MUFG Americas Hold-ings Corporation and its primary subsidiary, MUFG Union Bank, N.A., including its offices in the United States, Canada, and Latin America. In addition, she serves as Bay Area President for MUFG and MUFG Union Bank, N.A., and as Executive Officer for The Bank of Tokyo-Mitsubishi UFJ (BTMU). Ranjana is a member of MUFG Americas Holdings Corpora-tion’s Executive Committee for the Americas, the primary policy making group for the bank and holding company. Prior to joining MUFG in 2013, Ranjana was Chief Customer and Marketing Officer at PayPal. She also served as President of Global Business Payments and Head of Global Strategy at The Western Union Company.

David Kane and Stephen Lamar oversee the Financial Services division for KPMG’s Intelligent Automation Advisory Group and are responsible for developing the firms robotics offerings in addition to successfully delivering Robotic Process Automation and Cognitive Automation engagements. David and Stephen both have over 15 years in financial services consulting experience focusing on process innovation and large-scale enterprise transformations.



session tWo 10:55 aM-11:55 aMsession 2a

What is the optimal Bank Account Structure?

scott Hogate, sVP & treasury solutions advisor, the PnC financial services group

al acevedo, former treasurer of Blackhawk network

This session addresses a topic rarely discussed, but always assumed to be working efficiently for organizations. Two former practitioners will help provide some guidance as to how to identify whether or not your account structure is working optimally. They will also identify different types of structures, common justifications or reasons for structures, review the effects of the structure on various internal departments, and review two case studies.

Scott Hogate is a Senior Vice President & Treasury Solutions Consult-ant at PNC Bank with a focus on growing PNC’s West Coast presence while leveraging his 20+ years of practitioner experience in overseeing Treasury, Acquisition Integration, Accounts Payable, Accounts Receiv-able, Fleet Vehicle Management and Risk Management. Prior to PNC Bank, Scott was a Treasury & Financial Consultant at Universal Services of America. Scott’s record of Treasury design, operational optimization and integration includes positions as Assistant Treasurer at 99¢ Only Stores (Retail), Treasurer at DDi Corp (Manufacturing), Consultant at Guthy-Renker (Sales Marketing), Assistant Treasurer at Abbott Medical Optics (Medical Device), formerly Advanced Medical Optics, Treas-ury Manager at AmerisourceBergen (Distribution), Apria Healthcare (Home Healthcare), and FHP Healthcare (HMO). Scott graduated from the University of Redlands with a Master’s Degree in Business Administration and an undergraduate degree from Chapman Univer-sity with majors in Finance and Economics. Scott is a Certified Treasury Professional (CTP).

Al Acevedo formerly managed the Treasury and Financial Operations functions at Blackhawk Network, a leading FinTech company in the prepaid space. He and his team managed over $20 billion in annual funds flow and partnered with leading retailers and corporate clients to enhance brand value and acquire new customers. In addition to Treasury, Al led global shared services functions that manage quote to cash, procure to pay and acquisition integration.

Al has over 20 years of experience in banking and corporate finance. Previously, he was VP, Finance and the primary financial officer at Molecular Devices a medical device company which is part of Danaher Corporation. Prior to that, he managed payment operations and margin accounting at PayPal where his team built up scalable processes during a period of hyper growth and international expansion. Al also worked at Hewlett Packard and its spinoff companies Agilent Technologies and Avago Technologies (now Broadcom) in various financial management roles and started his career in middle market lending with Wells Fargo.

Al graduated from the University of Texas at Austin with a Master’s Degree in Business Administration.

session 2B

optimization Model for open Market Share repurchases

Victor Chow, treasury Manager, intuitive surgical

In the beginning of 2017, senior executives at Intuitive Surgical wanted to opportunistically buy shares under an open market repurchase (OMR) program to complement the $2 billion accelerated share repurchase (ASR) program it had previously announced. Rather than rely solely on advice from invest-ment banks or pay fees to an external provider, the execu-tives asked the Treasury department to develop an in-house model that gives them the flexibility and control to optimize how much to spend at the lowest average purchase price. The Treasury department developed a model, using @Risk software from Palisade that can automatically run through thousands of stock price scenarios and iterations of share repurchase grids to identify an efficient frontier that optimizes spend and price.

Victor Chow has over 12 years experience in Treasury. Since 2016, Victor has been at Intuitive Surgical as the Treasury Manager, covering cash management, foreign exchange risk management, investments, corporate finance and insurance. Prior to Intuitive Surgical, Victor worked at LinkedIn and Hewlett-Packard.

session 2C

Exchange Traded Funds (ETFs): How ETFs Work and Why Corporate Cash Managers Should Care

Will goldthwait, Portfolio strategist, state street global advisors

ETFs have been around for almost 30 years and are now seeing significant market share growth. This growth is similar to that seen in mutual funds in the 1990s. However, a broad understanding of ETFs is still somewhat limited.

ETFs are being recognized as an attractive way to comingle investor’s money and return a strategies’ performance to that investor. By incorporating 3 mechanisms of investing in their strategy, these mechanisms allow for better liquidity which ultimately helps the investor mitigate costs while improv-ing returns. We’ll explain and discuss these mechanisms and illustrate how they improve liquidity in the product in more depth.

Currently, all ETFs are categorized as an Equity security due to their structure. This presentation will provide a level of understanding and discuss why the underlying investment strategy is a more important topic of focus. We’ll also explain the wide variety of strategies that comprise the ETF univers-es. These strategies include ETFs that are comparably safer than some treasury only Money Market Funds and others that are similar to both Prime Money Market and Ultra Short-Term Bond Strategies.

So, why should Corporate Cash Managers care? ETFs are currently providing hundreds of fixed income strategies across multiple currencies. These strategies can help corporate cash managers refine their cash management post money market reform. We’ll discuss why ETFs deserve further considera-tion and evaluation for a Corporate Cash Manager’s broader investment strategy.

Will Goldthwait is a Fixed Income and Cash Management Port-folio Strategist with State Street Global Advisors. His role at State Street involves bringing a more detailed conversation about portfolio management and strategies to its clients and prospects. Prior to joining State Street Will worked at RBS and Merrill Lynch in Institutional Sales. Prior to that Will was a portfolio manager at Columbia Management.

session 2D

Anticipating the Known Unknowns: Creating Treasury Strategies for Business Challenges

fabian khoshbakht, treasury Consulting, J.P. Morgan

Robert lau, treasurer, informatica llC

Preparing for the unknown is oftentimes difficult however it is imperative to reducing risk and ensuring a successful outcome. While organizations may not be able to control the unexpected, they should prepare for action. Creating a strat-egy in advance helps organizations to continue to drive results even in challenging times. Better management of Liquidity, Payments and Receipts in the unlikely event of a disaster (government, geopolitical, financial, provider) will position the organization to survive the outcomes versus its competitors. Hear from a corporate practitioner on how his organization strategically managed a banking provider exit with minimal damage.

A business’ cash management strategy should be a living, breathing document that is regularly updated and communi-cated across the organization (not as a one-time event). More importantly it should be owned collectively by all departments (Sales, Procurement, Finance, etc.) to prepare them for unexpected events across their locations. Fabian Khoshbakht is the head of the Corporate Treasury Consulting within the Commercial Bank at J.P. Morgan. The group is responsible for Corporate Actions and Treasury Consulting to help drive strategic dialogue across and obtain an understanding of key treasury require-ments, concerns and plans with a view to develop solutions to meet their Treasury needs. Prior to joining J.P. Morgan Singapore in 2010, Fabian was with Australia and New Zealand Banking Group (ANZ) for over 14 years holding various roles that culminated in the development of Cash Advisory at ANZ. Cash Advisory generated over $2 Million AUD in fees per annum when Fabian departed to join J.P. Morgan.Fabian holds an MBA from Deakin University of Australia and has presented at local AFP events and at the New York Cash Exchange as well as other client events.

Robert Lau is the Treasurer at Informatica LLC where he is responsible for Treasury, Investor Relations, and Stock Administration. His prior treasury experience includes Treasury Director at Yahoo! and Treasury Manager at Agilent Technologies. Robert has a BA in Economics from the University of California, Berkeley and a MBA from the Haas School of Business.



LUnCH KEYnoTE 12:10 PM – 1:40 PM

The ABCs of Blockchain – Awareness, Benefits and What Corporate Treasury needs to Know

greg la Blanc, Distinguished teaching fellow and faculty Director of the Berkeley fintech institute at University of California, Berkeley

guy Berg, Vice President Payments, standards, and outreach group, federal Reserve Bank of Minneapolis

anita Bubna, senior Director of treasury, flex ltd. anant kadiyala, Director of Blockchain and iot industry solutions, oracle Corporation

Hear from a panel of experts on the topic of blockchain and what it really means for business and corporate treasury. There is much in the news today about block-chain and how it can prevent fraud, increase efficiency and bring organizations and their ecosystems closer together. Many of us are still grappling with the idea of blockchain and what we, as treasury professionals, need to be aware of as we consider various use cases for this advanced technology. This panel, moderated by an industry expert, brings together business, technology and a regulatory body to define what blockchain is and how companies should view the technology and what it ultimately means to the corporate treasury practitioner.

Greg La Blanc is a Distinguished Teach-ing Fellow and Faculty Director of the Berkeley Fintech Institute at University of California, Berkeley, where he has taught since 2004 in the Business, Law, Engineering, and Economics programs, primarily in the areas of finance, strategy, organizational design, and data driven decision making. He has run training, consulting, and education programs for numerous companies on digital transformation, data strategy, business model design, risk manage-

ment, and innovation and has also taught at dozens of universities in the Americas, Asia, Europe, Africa, and the Middle East including Wharton, Duke, and the University of Virginia. His current research and teaching focuses on applications of information technology, data analytics, and blockchain on all aspects of business. He received a B.A. in History, Politics, Philosophy, and Economics and a B.S. in Economics from the University of Pennsylvania, where he continued his education as a University Scholar and graduate fellow, studying in the schools of Arts and Sciences, Business, and Law. He later pursued a J.D. at George Mason University and an L.L.M. at Berkeley’s Boalt Hall.

Guy Berg is Vice President and manages the Payments, Standards, and Outreach Group for the Federal Reserve Bank of Minneapolis with responsibilities for advocating payment efficiencies, payment security standards development and adoption, payment fraud mitigation research and outreach, and the study of emerging payment technologies. He has over twenty years of experience working in the payments industry with a diverse background ranging from merchant

acquiring and terminal hardware and software development to fraud mitigation solutions and mobile contactless consulting. He joined the Federal Reserve Bank of Minneapolis in 2016 after spending the previous four years at MasterCard leading EMV (Europay, Mastercard, Visa) migration and contactless payments consulting projects. Previous to that, he worked on EMV migrations globally in various capacities including as President of Collis America, an EMV and mobile consulting firm serving North and South America. He is chair of the Accredited Standards Committee X9 Distributed Ledger and Blockchain Study Group.

Anita Bubna is the Senior Director of Treasury at Flex Ltd., an American multinational technological manufac-turer and a leader in manufacturing supply chains. She is a treasury profes-sional exploring the use of blockchain for supply chains and in her current role she manages global cash, credit, and strategic cross functional team projects. A large part of her experi-ence in treasury has been focused on developing innovative working capital solutions. She has implemented and

managed global supply chain finance, dynamic discounting, and asset based securitization programs. In addition to her experience in treas-ury, she has also held roles in software project management, FP & A, and operations finance.

Anant Kadiyala is director of block-chain and IoT industry solutions at Oracle. He is currently driving solutions for supply chain transparency, visibility and agility. Anant is a specialist in enter-prise digital transformation and applied innovation. He has published numerous articles and spoken at conferences on applying emerging technologies. Earlier, Anant built a consulting practice that specialized in analytics, IoT, PaaS, and middleware solutions for the Fortune 1000. His teams won multiple industry

awards and recognitions for driving visionary business solutions.

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session tHRee 1:55 PM-2:50 PM

session 3a

Hot Topics: impacts of new Tax reform Legislation

Rita Mclean, Vice President, tax Planning, Mckesson Corporation

alan sankin, Vice Presicent, tax and treasurer, Dolby laboratories, inc.

Even the best preparation for the recent tax reform is leaving many companies with more questions than answers. In this session, hear from a Corporate Treasurer and a Corporate International Tax Manager on the planning efforts that their companies made (and are making) and how tax and treasury collaborated to assure the best results for their companies.

Rita McLean is Vice President, Tax Planning for McKesson Corpora-tion where she is responsible for U.S. and international acquisitions and restructurings, international tax planning and maintenance, and transfer pricing. Rita was a senior manager in Ernst & Young’s federal tax consult-ing practice before joining McKesson in July 2010. With over 19 years of tax experience in both corporate and public accounting roles, she has worked with a variety of multi-national corporations throughout the San Francisco Bay Area.

She is former President of the Bay Area American Woman’s Society of CPA’s and holds a Masters in Accountancy with an emphasis in Taxa-tion from San Diego State University. Rita is a California certified public accountant.

Alan Sankin is Vice President in charge of Dolby Laboratories, Inc.’s tax and treasury groups, and is responsible for all tax matters for the company. On the Treasury side, he oversees cash operations, insurance, foreign exchange, and investment portfolio management. Before joining Dolby in 2007, Alan was Vice President, International Taxes, at Oracle where he oversaw its international tax matters. He has extensive experi-ence in taxation for multinational corporations, having also held tax and treasury positions at Cisco Systems, the business consulting firm Fair Isaac, and others. Alan began his tax career at Arthur Anderson & Co. in 1976.

Alan is an attorney and is a member of the bars of California, New York and New Jersey. Alan is also a Certified Public Accountant (New Jersey). He is the Co-Head of the North Bay Tax Directors Group, former Presi-dent of the San Francisco Foreign Tax Club and a member of the Silicon Valley Tax Directors Group. Alan holds an L.LM in Taxation from the New York University School of Law, Graduate Division; a J.D. from the Univer-sity of Toledo College of Law; and a A.B. from Syracuse University.

session 3B

Banking with FX integration – Best Practices for Mitigating Cross Currency risk and Automating Cross Currency Payment Processes

Daniel stanton, Director, senior treasury Product Manager – global Cross Currency Product Manage-ment, Bank of america Merrill lynch

Richard lucero, assistant treasurer, Dolby laboratories, inc.

As companies look to reduce costs and gain efficiencies when making cross border payments, there is an increased need for corporate treasurers to adopt a cross currency risk management and payables strategy. With the ever-changing regulatory environ-ment and increased cost of delivering payments cross border, it is important for treasury professionals to look for creative and sustainable ways to employ a payables strategy that is both operationally efficient and cost effective.

Daniel Stanton is a Senior Treasury Product Manager within the Global Cross Currency Products group at Bank of America Merrill Lynch. In this role Daniel is responsible for implementing cross currency product strategies across BofAML’s core payment execution channels, working in collaboration with global sales and product partners to promote cross currency product capabilities, product innovation, assist in driving operational efficiencies, and risk management. Daniel has 15 years of experience at Bank of America Merrill Lynch, 13 of those years work-ing in treasury. In addition to product management Daniel held roles as Operations Project Manager, Client Service Associate and a call center agent in his early years. He received his SWIFT for Corporates certification in 2016 and has a B.A in Business Management from the University of Phoenix.

Richard Lucero is Assistant Treasurer at Dolby Laboratories, Inc. Since joining Dolby in 2012, he has been responsible for Dolby’s Global Liquidity, Banking, Insurance, Capital Markets, FX, and Cash & Invest-ment Management. Richard has nearly 20 years of Global Treasury experience primarily focused on FX risk, investment management, debt issuance, stock repurchase and capital structure. Prior to Dolby, Richard held various finance roles for eBay, PayPal and Hewlett Packard. He holds an undergraduate degree in Finance/Economics and an MBA from Saint Mary’s College of California.

session 3C

Prime MMFs – How to Handle the operational Aspect While Maintaining Liquidity

greg Whipple, investment Reporting specialist, Clearwater analytics

Brandon Hillstead, investment Manager, autodesk The values of post-reform prime money market funds are holding steadier than expected, and are an attractive invest-ment for many. However, numerous institutional investors are still hesitant to get back into these securities because of the operational challenges involved in tracking them. Investing in prime money market funds now requires new operational best practices and tools to properly track unrealized gains and losses and a floating NAV. Through proper tracking, forecasting, and reporting, organizations can again confidently invest in prime money market funds.

In this session, attendees will gain a greater understanding of best practices to ensure visibility into prime money market funds and learn about operational strategies to help track and report on them.

Greg Whipple works with corporate investment accounting and treasury professionals on the West Coast to understand their account-ing and reporting needs and streamline their processes. A contributor to Clearwater’s thought leadership initiatives, Greg also offers expert guidance on regulatory updates and industry changes for investment accounting and treasury professionals.

Greg has a bachelor’s in finance and business administration from Weber State University.

Brandon Hillstead is the Treasury Manager for Autodesk, responsi-ble for the California-based company’s global investment program and capital markets activities. Prior to coming to Autodesk, Brandon worked in FP&A and investment analysis in the financial services industry.

Brandon has a bachelor’s degree in business management from Brigham Young University-Idaho and a Master of Business Administra-tion from the University of California, Davis.

session 3D

Enabling the Ai Enhanced Finance Team

Carlos Vega, Co-founder and Ceo, tesorio

Jean furter, former Vice President and treasurer, Brocade Communications systems

Finance & Treasury Executives have no doubt observed a professional landscape shifting on many fronts in recent years. Several of these changes are influenced, if not caused by, two main factors: demography and technology. With Millenni-als expected to be a majority of the workforce in just a few years, and artificial intelligence on the verge of mass market adoption, new strategies are necessary to stay competitive and build world class teams. Join Carlos Vega and Jean Furter as they discuss ways to stay ahead of the curve by creating a culture that embraces change and new technologies to attract top talent.

Carlos Vega is Co-Founder and CEO at Tesorio, a cash forecasting, predictive recommendation and collaboration platform for modern finance teams. Prior to Tesorio, he spent a decade working in finance. His experience includes working as an investment banker with Lazard’s operation in Latin America and co-founding a factoring company. He graduated from the University of Pennsylvania with an MBA from the Wharton School and a BA in Economics from the College of Arts & Sciences.

Jean Furter is the former Vice President, Treasurer at Brocade Communications Systems, a technology company that has been recently acquired by Broadcom. During his tenure at Brocade, he was responsible for managing the treasury, customer financing and enterprise risk management functions. Brocade’s treasury organization was transformed and re-positioned as a strategic function and business partner and its achievements have been recognized by multiple treas-ury industry awards over the past ten years. Prior to Brocade, Jean was VP Treasurer at Silicon Graphics and, prior to that, he held treasury and finance management positions at ABB in Europe.

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sVafP is dedicated to serving the needs of treasury and finance professionals at all stages of their career by providing the following services: networking, education

and career development.

Please visit our website.

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We Value Your feedback Please respond to our online survey which will be sent out shortly after the symposium. We hope that you will share your views with us so that we can continue to bring you the quality programming that you have enjoyed at the san francisco treasury symposium.

session foUR 3:10 PM-4:00 PM

session 4a

The Way We Pay: Hot Topics in Payments

Matt Davies, assistant Vice President, federal Reserve Bank of Dallas

This session will provide attendees with updates on payment topics of interest to corporate practitioners and financial institutions. The presenter will focus on recent develop-ments, industry initiatives and trends in areas such as “faster” payments (same-day ACH and real-time), mobile payments, credit and debit cards, and fraud and security.

Matt Davies, AAP, CTP, CPP, is an Assistant Vice President at the Federal Reserve Bank of Dallas. In this role he oversees the Dallas Fed’s efforts in payments-related outreach to financial institutions and corporates. Matt has over 19 years of experience in the payments industry, 17 of those with the Federal Reserve Banks. He has also served as a product manager for a commercial bank and in the bankcard industry. He is currently the president of the Dallas Association for Financial Profes-sionals. Matt graduated from William Jewell College in Liberty, Missouri, with a B.A. in Political Science and History. He also completed the Graduate School of Banking at the University of Wisconsin, Madison.

session 4B

Alternatives to the Standard Layered Hedge Program-Thoughts from the Field

glenn suarez, Director of Client services, Hedgetrackers

Michael Young, senior treasury Manager, Head of Capital Markets, Juniper networks

In this session attendees will explore the traditional “layered hedge program”, how it is used and what it delivers. This strategy will be contrasted with alternative strategies that meet other key objectives in corporate hedge programs.

Glenn Suarez has nearly three decades of experience managing financial risk management, derivatives and traded financial instruments. He possesses a broad skillset of expertise areas within accounting and treasury functions. He is skilled at consulting with clients on techni-cal financial matters, and working with CFOs, traders and treasur-ers. Glenn’s specialties include strong analytic and client engagement abilities in the areas of derivative and fixed income accounting. He also covers financial risk management, hedging strategy, and ASC 815/830 program implementation.

Michael Young is Senior Treasury Manager, Head of Capital Markets at Juniper Networks, where he is responsible for corporate finance and capital markets activities, including FX risk management, DCM, invest-ments, capital return strategy, and cash flow. Prior to Juniper Networks, Mike worked in Treasury and business unit finance at Chevron and Disney. Mike has a BA from UCLA and an MBA from the UC Berkeley Haas School of Business.

session 4C

Building resilience in Your investment Portfolio

John olivo, Managing Director, goldman sachs asset Management

Jeff Mullen, treasurer, airbnb

Treasury teams today face many headwinds, from regulatory and tax reform, to shifting M&A activity, to organizational changes – forcing leaders to be resilient and focus on preparing for change. We believe building resilience in investment portfolios is critical to the success of treasury organizations in the years to come. We will share experiences on how multinationals are structuring separate accounts and other front-end vehicles to weather various changes in the markets, regulations, and organizations.

John Olivio is global head of short duration strategies within Goldman Sachs Asset Management (GSAM). He is responsible for overseeing the management of all GSAM short duration taxable fixed income strategy portfolios. Previously, he was a member of the short-term taxable portfolio management team. John joined Goldman Sachs in 1995 as an analyst and was named managing director in 2015.

John earned a BA from Bucknell University and an MBA from the Stern School of Business.

Jeff Mullen graduated from Georgetown University in 1991 and from Georgetown University Law School in 1995. Jeff worked at Simpson Thacher & Bartlett, LLP as a corporate attorney from 1995-2000 before joining Goldman Sachs & Co., where he was most recently a Managing Director in the Investment Management Division. In August 2016, Jeff joined Airbnb as Treasurer. Jeff is currently a member of the board of directors of HelpMeSee, Inc. and the Fabretto Children’s Foundation.

session 4D

Technology Solutions for Cash Forecasting

Jeanne Castro schmidt, President, treasury Management solutions

Cathy fields, assistant treasurer, Hitachi Vantara Corporation

Barbara landolt, assistant treasurer, Csaa insurance services

Everyone is seeking “the” solution for cash forecasting. Some swear by Excel, others prefer to use a workstation, and others, like our panelists, have utilized an option that lever-ages functionality from their ERP system. Panelists Barbara Landolt and Cathy Fields have each recently implemented an internally developed solution using Hyperion functionality, but each approached the problem and the solution differ-ently. CSAA took a top down, indirect approach to forecasting quarter-end cash, while Hitachi used a hybrid method combin-ing Excel and Hyperion for their bottoms up, direct forecast. Come and learn how issues such as determination of forecast values, consolidation of multiple forecasts, currency conversion, version control, data protection, and variance analysis were addressed (or not able to be addressed) with their solutions. Afterwards moderator Jeanne Castro Schmidt will discuss a short list of automated tools that are gaining steam to enhance your forecasting experience.

Jeanne Castro Schmidt founded Treasury Management Solutions in 1995 and has assisted a host of fast growing, innovative companies in the Bay Area transform their treasury functions into efficient, world class operations. Jeanne serves on the board of the SVAFP and also hosts the podcast Treasury On the Go. She has a B.A., Economics and an M.B.A. from the University of California, Berkeley. Cathy Fields, Assistant Treasurer, Hitachi Vantara Corporation has been involved with Treasury or Treasury related functions in a multi-national environment for 30+ years. She is responsible for Global Treasury Operations which includes Banking, FX Strategies, Cash and Liquid-ity Management, Debt, Investments and Insurance Risk Management. Cathy joined Hitachi Vantara in 2014 after spending 25 years with Western Digital Corporation. Barbara Landolt, Assistant Treasurer of CSAA Insurance Services, has over 20 years of cash and investment experience within the Insurance Industry. Barbara and her team oversee cash forecasting, daily liquidity operations, and bank relationship management among other things for CSAA. Prior to joining CSAA, Barbara served as the Financial Report-ing Manager at the State Compensation Insurance Fund.

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Thank You For Your AttendancePlease join us for a reception immediately following the last session of the day on the hotel patio, at the Maso Restaurant terrace.

this is an excellent opportunity to meet with fellow practitioners and exchange ideas and information gleaned from the sessions.

session fiVe 4:15 PM-5:10 PM

session 5a

Bank Account openings for rapid global Expansion

frank flores, treasury analyst, Uber technologies, inc.

Uber’s growth has been well publicized for its quickness and scale. With rapid growth comes dynamic business needs that require continuously developing bank account structures and opening hundreds of accounts. This session is for treas-ury professionals who are interested in learning how Uber manages and organizes multiple, global account openings at the same time. Uber will share its methods and best practices for urgent account openings and how it has streamlined the process over the last few years. This session is also for bank-ing professionals interested in optimizing their account open-ing process based on Uber’s experiences in opening accounts with various global and local banking partners.

Frank Flores joined Uber Technologies Inc. as a Treasury Analyst in March 2017. He manages the liquidity for all entities in the Latin American region and supports Uber’s rapid global expansion with new bank account openings around the world. Prior to joining Uber, he completed multiple rotations across Accounting and Finance at General Mills’ and Honeywell’s Finance Leadership Development programs. Frank graduated from Arizona State University with a BS in Finance and Certificate of International Business from Universidad de Nebrija in Madrid.

session 5B

FX Strategies to Address real World risk Management Challenges

shan anwar, Director and Head, fX, eBay inc.

anne friberg, CtP, senior Director, Peer knowledge exchange, the neugroup and Contributing editor, itreasurer

How should a global (or aspiring global) company design its FX risk management program to protect its business from the impact of foreign exchange fluctuations? Supported by peer research and eBay’s experience, this conversation will probe how the business drives exposures; risk management philosophy and objectives; policy, strategy and how these align with objectives; how hedge decisions and instrument choices are determined; and how all this ties into results, metrics and compensation.

Shan Anwar is Director and Head, FX at eBay where he manages the company’s foreign exchange risk. Prior to joining eBay, Mr. Anwar led Bloomberg’s corporate treasury practice in London. Previously he was with GE, where he managed derivative operations and accounting for GE’s $330 billion derivative notional and was also Deputy Controller of Derivative Accounting for AIG, Inc. in New York City. Shan’s writings on Treasury best practices have been published in GT News and the Bloomberg Treasury Brief.

Anne Friberg joined The NeuGroup in February 2006 and is currently the lead facilitator for eight NeuGroups: the Tech20 Treasurers’ Peer Group (Tech20); the Treasurers’ Group of Thirty Large Cap Edition (T30LC); the Treasurers’ Group of Thirty (T30); the Assistant Treasur-ers’ Leadership Group (ATLG); the European Treasurers’ Peer Group (EuroTPG); the Latin American Treasury Managers’ Peer Group (LatAmTPG); and the Foreign Exchange Managers’ Peer Groups (FXMPG) I and II. She is also a contributing editor to NeuGroup’s flagship newsletter, iTreasurer.

Prior to joining The NeuGroup, Ms. Friberg worked for several years in international treasury management with Anheuser-Busch Companies, Inc. (now Anheuser-Busch Inbev) in St. Louis, Missouri, where she also held positions in the corporate planning and investor relations depart-ments. Later, she managed the post-IPO investor relations organizations at Amdocs in St. Louis and About.com in New York. A Swedish native, Anne graduated from the School of Business, Economics and Law at Göteborg University in Sweden, and earned an International M.B.A from Thunderbird School of Global Management. She is based in New York City.

session 5C

Keeping one Step Ahead of Disruption – How Technology Can Help navigate the Challenges

Rene schuurman, Director, global Market Manager Channel services, treasury and trade solutions, Citi

ed Barrie, senior Director treasury, tableau software

There is a lot of talk about disruptive technologies today but not a lot of facts about what the potential threat or oppor-tunity is for corporate treasury. We hear about how API and blockchain can create efficiencies to using AI and bots to automate processes and increase returns, but what does it all mean to a corporate Treasurer? This session will focus on these and other disruptive technologies and the trends that are creating the need for new value networks and where treasury can find the most benefit.

Rene Schuurman is the Global Market Manager Channel Services based in Chicago, IL for Citi Rene has global market management responsibility for the API, online, mobile, SWIFT, file, and message based connectivity and integration solutions for Treasury and Trade Solutions within Citi. He also has global product development responsibility for the customer facing API capabilities. In this capacity Rene is also a representative for Citi in various EDI standard governing bodies such as the Common Global Implementa-tion workgroup.

Prior to joining Citi, Rene worked at ABN AMRO Bank and Capgemini Consulting in Utrecht, the Netherlands where he has held roles in project management, client implementations, business architecture, and product management..

Rene graduated from the Polytechnic University of Amsterdam with a Bachelor of Science in International Finance and Business Administration.

Ed Barrie is Senior Director, Treasury for Tableau Software, Inc. a global firm providing industry leading data visualization and analytics software that helps people see and understand their data. Ed has been with Tableau Software since November 2015 and is responsible for global treasury management.

Prior to joining Tableau Software, Ed spent six years at Itron, Inc. most recently as Assistant Treasurer where his team earned the Treasury Today 2014 Adam Smith Award for Best Process Re-engineering Solution for their efforts in implementing world class treasury systems and processes. Ed and his team were also the runner up for the GTNews.com 2014 Treasury Technology Award for Best Treasury Technology Solution.

Prior to joining Itron, Ed spent seven years in Microsoft’s Global Treasury Department, most recently as the Group Manager responsible for treas-ury systems, including the company’s SWIFT implementation and treasury operations. Ed earned a Bachelor of Arts in Economics from Eastern Washington University.

session 5D

Treasury Workstations: Two Companies, Two Approaches – The Second Time’s the Charm

Jeanne Castro schmidt, President, treasury Management solutions

lori snow, Director of Cash Management and operations, stanford University

kammy tsang, senior treasury Manager, equinix, inc.

Robert Huang, treasury Manager, equinix, inc.

Equinix, Inc. and Stanford University both went live in 2018 with their second workstation implementation. Facing challenges such as maintaining more than 1000 current and former accounts and managing a complex intercompany loan program with nearly 100 active loans, the panelists will discuss what they learned from their first workstation implementa-tions, the factors that convinced them to move forward with a new implementation, how they solved their unique chal-lenges, and what lessons they learned along the way.

Jeanne Castro Schmidt founded Treasury Management Solutions in 1995 and has assisted a host of fast growing, innovative companies in the Bay Area transform their treasury functions into efficient, world class operations. Jeanne serves on the board of the SVAFP and also hosts the podcast Treasury On the Go. She has a B.A., Economics and an M.B.A. from the University of California, Berkeley. Lori Snow is an enthusiastic career long treasury professional who has worked in corporate environments, commercial banking, local govern-ment, and now higher education. Currently, she is the Director of Cash Management and Operations for Stanford University. She completed her MBA in Finance at the University of the Witwatersrand in Johannesburg. She is a Certified Treasury Professional (CTP) with the Association of Financial Professionals. Earlier she completed her undergraduate degree in Economics at the State University of New York at Albany. Kammy Tsang joined Equinix Inc. in 2014, as their Senior Treasury Manager. Kammy is leading the company’s effort in global liquidity, investments, system implementation, and M&A integration strategy, specializing in building treas-ury infrastructure to scale and support the company’s rapid growth. Prior to joining Equinix, Kammy was with Cargill Inc., the world’s largest privately owned company with over $120 billion in revenue, where she led the Global Treasury Services Cash Management team responsible for building strategic and operational treasury infrastructure. Prior to Cargill, Kammy spent 8 years with Medtronic, a medical device industry leader across vari-ous roles and functions in Minneapolis, San Diego and Shanghai. Robert Huang is currently the Treasury Manager at Equinix, Inc. His roles and responsibilities include managing liquidity, integration, special projects and day-to-day operations. Robert started his treasury career at Novellus Systems (now part of Lam Research) and began his exposure to treasury in cash management and gradually expanded into other areas including FX risk management, investment and insurance. Prior to Equinix, Robert was with Logitech where he played an pivotal role in transitioning the treasury function from Switzerland to the U.S.


San Francisco Treasury Symposium ~ May 18, 2018SCHEDULE OF EVENTS

7:30 aM–8:20 aM RegistRation anD Continental BReakfast

8:20 aM–9:20 aM MoRning keYnote: Treasurer on Speed Dial™: How to Cultivate Trust & Wield influence… Beyond Your imagination™ Molly sargent, Ceo, President and executive Coach, Proimpress

rEFrESHMEnTS ProviDED BETWEEn SESSionS

9:40 aM–10:40 aM session one 1A Capitalizing on Faster Payments and Technology: Finding Success in the Hype—Theresa Clements,

Wells Fargo Bank; John Christensen, LendingClub 1B Elevating the Compliance Conversation with the CFO—Focus on ERM—Loren Crannell, Symantec Corporation 1C Six Investment Themes Driving the Next 5 Years—Daniel Phillips, Northern Trust Asset Management 1D Automation, Robotics and AI for your Treasury Organization—Ranjana Clark, MUFG Union Bank

N.A.; David Kane, KPMG Advisory; Stephen Lamar, KPMG Advisory

10:55 aM–11:55 aM session tWo 2A What is the Optimal Bank Account Structure?—Scott Hogate, PNC Bank, N.A.; Al Acevedo 2B Optimization Model for Open Market Share Repurchases —Victor Chow, Intuitive Surgical 2C Exchange Traded Funds (ETFs): How ETFs Work and Why Corporate Cash Managers Should Care Will Goldthwait, State Street Global Advisors 2D Anticipating the Known Unknowns; Creating Treasury Strategies for Business Challenges —

Fabian Khoshbakht, J.P. Morgan; Robert Lau, Informatica LLC

12:10 PM–1:40 PM lUnCH keYnote The ABCs of Blockchain – Awareness, Benefits and What Corporate Treasury needs to Know greg la Blanc, Berkeley fintech institute at University of California, Berkeley; guy Berg, federal Reserve Bank of Minneapolis; anita Bubna, flex ltd.; anant kadiyala, oracle Corporation

1:55 PM–2:50 PM session tHRee 3A Hot Topics: The Impacts of New Tax Reform Legislation—Rita McLean, McKesson Corporation;

Alan Senkin, Dolby Laboratories, Inc. 3B Banking with FX Integration – Best Practices for Mitigating Cross Currency Risk and Automating

Cross Currency Payment Processes—Daniel Stanton, Bank of America Merrill Lynch; Richard Lucero, Dolby Laboratories, Inc.

3C Prime MMFs – How to Handle the Operational Aspect While Maintaining Liquidity—Greg Whipple, Clearwater Analytics; Brandon Hillstead, Autodesk

3D Enabling the AI Enhanced Finance Team—Carlos Vega, Tesorio; Jean Furter

3:10 PM–4:00 PM session foUR 4A The Way We Pay: Hot Topics in Payments—Matt Davies, Federal Reserve Bank of Dallas 4B Alternatives to the Standard Layered Hedge Program-Thoughts from the Field—Glenn Suarez,

Hedge Trackers; Michael Young, Juniper Networks 4C Building Resilience in Your Investment Portfolio—John Olivo, Goldman Sachs Asset Management;

Jeff Mullen, Airbnb 4D Technology Solutions for Cash Forecasting—Jeanne Castro Schmidt, Treasury Management Solutions;

Cathy Fields, Hitachi Vantara Corporation; Barbara Landolt, CSAA Insurance Services

4:15 PM– 5:10 PM session fiVe 5A Bank Account Openings for Rapid Global Expansion—Frank Flores, Uber Technologies, Inc. 5B FX Strategies to Address Real World Risk Management Challenges—Shan Anwar, eBay, Inc.;

Anne Friberg, NeuGroup 5C Keeping One Step Ahead of Disruption – How Technology Can Help Navigate the Challenges—

Rene Schuurman, Citi; Ed Barrie, Tableau Software 5D Treasury Workstations: Two Companies, Two Approaches - The Second Time’s the Charm—

Jeanne Castro Schmidt, Treasury Management Solutions; Lori Snow, Stanford University; Kammy Tsang, Equinix, Inc.; Robert Huang, Equinix, Inc.

5:10 PM netWoRking ReCePtion Begins

SFTS 2018 Program master.indd 16 5/2/18 6:05 PM

29 Treasury Symposium thSan Francisco

Documents

Transcript of 29 Treasury Symposium thSan Francisco